Report : Middle East and Africa Towel Warmer Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Hydronic and Electric) and Application (Residential and Commercial)
Commercial Segment to dominate Middle East & Africa Towel Warmer Market during 2020–2028
According to a new market research study on “Middle East & Africa Towel Warmer Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type and Application,” is expected to reach US$ 30.45 million by 2028 from US$ 22.39 million in 2021. The market is estimated to grow at a CAGR of 4.5% from 2021 to 2028. The report provides opportunities and trends prevailing in the Middle East & Africa towel warmer market along with the drivers and restraints pertaining to the market growth. Intensifying product innovation, fostering demand in developing economies, and raising commercial application sector are the major factor driving the growth of the Middle East & Africa towel warmer market. However, heavy product price hinders the growth of Middle East & Africa towel warmer market.
South Africa has the highest COVID-19 cases in the Middle East & Africa, followed by Saudi Arabia and the UAE. The UAE was the first country in the Middle East & Africa to report a confirmed case of COVID-19. The impact of lockdown in the Middle Eastern and African countries has been severe. Various manufacturing companies related to consumer goods were closed, leading to reduced towel warmer production. The spa sector in the Middle East & Africa was slowed down as the region is heavily weighted towards hotels/resort spas which were more affected by the pandemic. The decline in the tourism sector affected the hotels and spas, which resulted in a declining growth in the market. Spas, gyms, and hotels are reopening with the vaccination campaign in full swing. Together with the rise in the tourism industry, this factor is expected to propel the MEA towel warmer market during the forecast period.
The Middle East & Africa 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 South Africa, Saudi Arabia, the UAE, and Rest of MEA. In 2020, Rest of MEA held the largest share in the market, and the UAE is expected to be the fastest growing country during the forecast period.
KORADO, a.s.; Zehnder Group AG; Stelrad; St.Lawrence (Tangshan) Metal Products Co., Ltd.; and Purmo Group are among the leading companies in the Middle East & Africa 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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