Commercial Segment to dominate Europe Towel Warmer Market during 2020–2028

According to a new market research study on “Europe Towel Warmer Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type and Application,” is expected to reach US$ 320.51 million by 2028 from US$ 247.84 million in 2021. The market is estimated to grow at a CAGR of 3.7% from 2021 to 2028. The report provides trends prevailing in the Europe towel warmer market along with the drivers and restraints pertaining to the market growth. Expanding urbanization and home remodeling activities, burgeoning commercial application sector, and scaling product innovation are the major factor driving the growth of the Europe towel warmer market. However, expensive product price hinders the growth of Europe towel warmer market.

In Europe, the UK and Russia are the hardest-hit countries by the COVID-19 pandemic. France, Spain, Italy, and Germany are not left behind as well. Initially, other member states had implemented drastic measures and travel restrictions, including partially closing their borders that impacted the tourism industry in the region. The shutdown of manufacturing units and difficulty in procuring raw materials have restrained the Europe towel warmer market. Along with this, the shutdown of hotels and wellness institutes such as spas and saunas, among others, hampered the market. Various government policies have supported the wellness sector as the restrictions are eased. The COVID Spa program, launched in August 2020, supported Czech spas, which were severely beaten up by the anti-COVID-19 measures and the sharp decline in the tourism sector. European spas are slowly reopening with protocols and new labels that have been issued to reassure the public and prevent the propagation of COVID-19. As the spa industry is recovering, there is an increase in consumer traffic in such resorts, leading to an increased need for drying towels and bathrobes, driving the demand for towel warmers.

The Europe 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 Germany, France, the UK, Italy, Russia, and Rest of Europe. In 2020, France held the largest share in the market, and UK is expected to be the fastest growing country during the forecast period.

Apollo Radiators; KORADO, a.s.; Pitacs Limited; Radox Radiators Ltd; PORCELANOSA Grupo A.I.E.; Zehnder Group AG; Stelrad; VOGUE (UK) LTD.; St.Lawrence (Tangshan) Metal Products Co., Ltd.; and Purmo Group are among the leading companies in the Europe 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.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com