Electric Segment to dominate North America Towel Warmer Market during 2020–2028

According to a new market research study on “North America Towel Warmer Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type and Application,” is expected to reach US$ 242.07 million by 2028 from US$ 179.57 million in 2021. The market is estimated to grow at a CAGR of 4.4% from 2021 to 2028. The report provides trends prevailing in the North America towel warmer market along with the drivers and restraints pertaining to the market growth. Surging commercial application sector, growing urbanization and home remodeling activities, and elevating product innovation are the major factor driving the growth of the North America towel warmer market. However, higher product price hinders the growth of North America towel warmer market.

The US has the highest number of confirmed COVID-19 cases among all key countries in North America. This has obstructed manufacturing processes, research, and development activities. Along with this, the shutdown of wellness institutes, such as spas, hotels, and gyms, is hampering the towel warmer market in this region. According to the McKinsey and Company report, in 2020, most US hotels were closed, especially the luxurious hotels. Hotels facilities like gyms, spas, and laundry facilities were also closed in the US. Thus, the shutdown of hotels and other facilities restricted the market from growing. As the lockdown is uplifted and vaccination campaigns are under full flow, the reopening of spas, hotels, gyms, and saunas is likely to increase the demand for towel warmers in the near future.

The North America towel warmer market is segmented on the basis of type, application and country. Based on type, the market is segmented into hydronic and electric. In 2020, electric segment held the largest share in the market, it is also expected to be the fastest growing segment during the forecast period. Based on application, the market is segmented into residential and commercial. In 2020, commercial segment held the largest share in the market, residential is expected to be the fastest growing segment during the forecast period. Similarly, based on country the market is segmented into the US and Canada. In 2020, the US held the largest share in the market, and Canada is expected to be the fastest growing country during the forecast period.

Purmo Group; Zehnder Group AG.; KORADO, a.s.; St.Lawrence Metal Products Co.,Ltd.;  and PORCELANOSA Grupo A.I.E.are among the leading companies in the North America towel warmer market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.

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