Global Towel Warmer Market - Imparting Aesthetics and Utility to Rejuvenation

Global Towel Warmer Market - Imparting Aesthetics and Utility to Rejuvenation

By Knowledge Sourcing Intelligence Blog

Rapid urbanization, the growing availability of disposable income, increased investments in construction globally, rising expansions of hotel chains are a few of the factors which are expected to drive the growth of the global market of towel warmers. This market has been forecasted by Knowledge Source Intelligence to grow at a CAGR of 6.42% attaining a market size of US$805.717 million by the year 2025 from US$554.678 million for the year 2019. Also monikered as towel radiators, this kind of device essentially constitutes a heated towel rail that has been designed to impart aesthetics as well as utility in bathrooms of both residential and commercial establishments.  Nevertheless, it is important to note that COVID 19 has resulted in a downward draft in the global trade which has the potential to affect the growth of the market. However, the increased rate of remodeling of residential spaces around the world has resulted in the rising installation of such fixtures which is also another factor that is driving the global towel warmer market growth.

towel warmer market

The share of the electric towel warmer is expected to occupy substantial space in the market contributing to its consequent growth

Towel warmers are made commercially available in two variants which are essentially electric and hydronic with the same end-use function of keeping towels warm. But towel warmers that are operated electrically is projected to attain a significant share of the global towel warmer market. With the dearth of central heating systems around the world, the need for electric towel warmer has skyrocketed to a great extent. Further, there have been profuse investments in R&D and product launches during the past few years is a reaffirmation of the upward growth trajectory of the global towel warmer market during the forecast period. For instance, one of the globally leading US-based organizations known for its in-heating systems called WarmlyYours.com, Inc. had reportedly announced the launch of a new range of electric towel warmers called the cosmopolitan collection during October 2018. This is an attestation of the inclination of organizations to capitalize on the growing demand for electric towel warmer stemming from the growing construction of residential units as well as the house remodeling projects.

The demand for the global towel warmer market is also expected to grow in tandem with consumers’ aspirations for aesthetically sound bathroom fixtures which too has exponentially grown during the past few years. In recent years there has been another market development which is expected to influence the global towel warmer market growth, which is the emergence of the home automation market that has been forecasted by Knowledge Sourcing Intelligence to grow at a CAGR of 11.86% from the estimated of 2018 which was in the order of US$62.471 billion to attain a market value of US$122.391 billion by 2024. Factors like technological advancements, rising awareness for low power consumption devices, increased mobile connectivity as well as favorable government regulations and changes in consumer inclinations are a few of the factors which are expected to drive the share of electric towel warmer in this market resulting in the healthy growth of the market. Also, the smart homes market which has been forecasted by Knowledge Source Intelligence to grow at a CAGR of 17.86% attaining a market size of US$124.596 billion by the year 2024 from US$46.493 billion for the year 2018 is expected to contribute to the expansion of the share of the electric towel warmer in the towel warmer market.

Conversely, the share of the Hydronic type of the global towel warmer market is also expected to hold a significant share of the market.

This is because they can be made operational simply by connecting it with the central heating systems. This is in part because a large share of residential buildings in developed countries is equipped with central heating systems that facilitate the effective minimization of the daily operational cost when compared to its electric towel warming counterpart. Further the developments of a few markets are an affirmation of the positive prospects of hydronic towel warmers thus effectuating a healthy growth of the global towel warmer market. To this end, it is important to note that developments in two industries namely Energy and Power and semiconductor have been instrumental in reinforcing the growth.  The global market of the electromechanical relay (EMR) is also expected to augment the expanse of the share of hydronic towel warmers due to its capability to facilitate hassle-free performance, long operational life, and the ability and consume less power and the globally recognized applications in temperature controller in HVAC devices. This market has been forecasted by Knowledge Source Intelligence to grow at a CAGR of 3.13% attaining a market size of US$7,161.108 million by the year 2024 from US$5,952.099 million for the year 2018. Also, The global HVAC controls market that has been forecasted by Knowledge Source Intelligence to grow at a CAGR of 8.95% attaining a market size of US$15.571 billion by the year 2021from US$ 9.312 billion for the year 2018, is expected to facilitate the growth of the share of hydronic towel warmers.

Similarly, the HVAC control systems market that has been forecasted by Knowledge Source Intelligence to grow at a CAGR of 7.20% attaining a market size of US$10.952 billion by the year 2022 from US$7.736 billion for the year 2017 is also expected to impact the share of this non-electric type of towel warmer. Also, the global HVAC insulation market which has been forecasted by Knowledge Source Intelligence to grow at a CAGR of 7.27% attaining a market size of US$5.834 billion by the year 2022 from US$4.108 billion for the year 2017 is expected to facilitate the robust share of the Hydronic type of global towel warmer market.  Additionally, the upward trajectory of this kind of device is also expected to be enabled by the HVAC equipment market which has been forecasted by Knowledge Source Intelligence to grow at a CAGR of 5.66% attaining a market size of US$162.123 billion by the year 2025 from US$116.515 billion for the year 2019.