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

According to a new market research study on “South America Towel Warmer Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type and Application,” is expected to reach US$ 21.11 million by 2028 from US$ 16.06 million in 2021. The market is estimated to grow at a CAGR of 4.0% from 2021 to 2028. The report provides opportunities and trends prevailing in the South America towel warmer market along with the drivers and restraints pertaining to the market growth. Widening urbanization and home remodeling activities, thriving commercial application sector, and strengthening product innovation are the major factor driving the growth of the South America towel warmer market. However, excessive product price hinders the growth of South America towel warmer market.

Brazil reported the highest number of COVID-19 cases, followed by Argentina, Peru, Chile, and Ecuador. The South American government has taken an array of actions to protect its citizens and combat the spread of the COVID-19 virus through lockdowns, trade bans, and travel restrictions. This may directly influence the growth of the towel warmer market due to significant disruptions in the sourcing of raw materials from suppliers and temporary closures of the manufacturing base due to indefinite lockdowns and temporary quarantines. Slowly, the restrictions are being lifted, which will stabilize the supply of towel warmer in the coming years and aid this region's towel warmer market.

The South 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 Brazil, Argentina, and Rest of SAM. In 2020, Brazil held the largest share in the market it 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 South 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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