The North America Towel Warmers Market would witness market growth of 6.6% CAGR during the forecast period (2022-2028).
Growing remodeling projects are increasing customer demand. Companies in the industry are expanding their product footprint through a variety of cooperation arrangements to obtain market share. For instance, in May 2019, Hydrologic, one of Florida's distributors of plumbing, indoors and out lighting, fans, and other fine home elements, and Amba Products, a distributor of heated towel racks, announced their collaboration. The collaboration will give Amba a dedicated spot in its showrooms as well as more exposure among a variety of contractors, architects, and interior designers. According to estimates, this will enhance customer adoption and penetration of towel warmers.
Significant economic growth and issues like growing urbanization are the main drivers of the need for towel warmers. A key factor in the market's expansion is the use of towel warmers in various industries, including home, commercial, and other sectors. Investments in house remodeling projects have increased as a result of the urbanization trend, which is also fueling market expansion.
The demand for towel warmers is also being fueled by the public's growing concern over the transmission of bacterial infections linked to the use of damp towels. As a result, during the projected period, rising hygiene awareness is anticipated to drive market expansion. For instance, the use of towel warmers by commercial users, such as business owners, has considerably expanded. Additionally, the fact that these heaters save energy boosts demand for the product. It is anticipated that the rising trend of modernizing home infrastructure and renovation would increase the industry's scope of growth potential. The quantity of gyms or fitness and health clubs, including spa facilities, has significantly expanded, which has raised the demand for warmers.
The National Travel and Tourism Office (NTTO), in addition to providing statistics, fosters a favorable environment for growth in travel and tourism by removing institutional barriers, managing joint marketing initiatives, delivering official statistics, and coordinating efforts across federal agencies via the Tourism Policy Council. The Office seeks to boost the travel and tourism sector's exports and international competitiveness, which also will lead to more jobs and economic growth in the United States.
The US market dominated the North America Towel Warmers Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $255.1 million by 2028. The Canada market is poised to grow at a CAGR of 9.1% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 8.1% during (2022 - 2028).
Based on Type, the market is segmented into Electric and Hydronic. Based on Application, the market is segmented into Commercial and Residential. The report also covers geographical segmentation of Towel Warmers market. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Towel Warmers Market is Estimated to reach $1.3 Billion by 2028, at a CAGR of 6.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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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