According to a new report, published by KBV research, The Global Towel Warmers Market size is expected to reach $1.3 billion by 2028, rising at a market growth of 6.8% CAGR during the forecast period.
The Hydronic segment is expected to witness a CAGR of 7.5% during (2022 - 2028). The home market is a primary driver of demand for hydronic thermal warmers. They are immediately connected to central heating systems, which are common in homes, and are run as such. Hydronic systems don't have any electrical components, but they are more energy-efficient. They circulate hot water from a home's closed-loop hot-water warming system to keep towels warm.
The Commercial segment dominated the Global Towel Warmers Market by Application in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $879.2 million by 2028. It is due to the demand in the commercial sector rising as a result of expanding tourism, growing economic activity, and an increase in hotels and spas. According to research by the Global Wellness Institute, there were over 149,000 spas open in 2017 and the sector is expanding at a 9.9 percent annual rate.
The Europe market dominated the Global Towel Warmers Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $523.5 million by 2028. The North America market is poised to grow at a CAGR of 6.6% during (2022 - 2028). Additionally, The Asia Pacific market would experience a CAGR of 7.5% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/towel-warmers-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Runtal North America, Inc. (Zehnder Group), Korado Group, Stelrad Group plc, Radox Radiators Ltd., Pitacs Limited, Apollo Radiators Ltd., St. Lawrence (Tangshan) Metal Products Co., Ltd., Kartell UK (Brand K Group), Porcelanosa Group, and Purmo Group (Myson, Inc.).
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