Heated Towel Rail Market: Current Analysis and Forecast (2023-2030)

$3999$6999

Emphasis on Product Type (Electric, Hydronic, and Others); Application (Residential and Commercial), and Region/Country

Pages:

145

Table:

48

Figure:

98

Report ID:

UMAU212311

Geography:

Clear
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Report Description
Table of content
Research Methodology

Report Description

Heated Towel Rail Market
Heated Towel Rail Market

The Heated Towel Rail Market was valued at USD 735 million in the year 2022 and is expected to grow at a steady rate of around 6.32% during the forecast period (2023-2030), owing to the expanding hotel industry and increasing tours and traveling. Furthermore, the demand for heated towel rails is expected to continue growing globally, driven by factors such as increased focus on guest comfort and well-being, cost savings and energy efficiency, and environmental concerns and sustainability. The thriving hotel industry is also playing a major role in this growth, with its expansion of luxury accommodation, increase in meetings and events, and focus on enhancing the guest experience all contributing to the demand for heated towel rails. As the hospitality industry continues to evolve, it is likely that heated towel rails will remain a valuable tool for hotels and resorts looking to provide a high-quality guest experience and improve operational efficiency. For instance, In July 2020, AccorHotels announced plans to open 100 new hotels globally by 2023, bringing its total portfolio to over 4,700 properties worldwide. The expansion is part of the company’s strategy to double its number of hotels in Asia Pacific by 2025 and triple its presence in Africa by 2023.

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Some of the major players operating in the market are Amba Products; WarmlyYours.com Inc.; Warmrails; Vogue UK Ltd.; Zehnder Group AG; Ecolec; Kudox; Bathroom Butler; Apollo Radiators; and Myson Inc. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst Product Types, the electric heated towel rails segment held the significant share of the market in 2022.”

Based on product type, the market is segmented into electric, hydronic, and others.  Electrically heated towel rails hold the majority of the market share and are the most widely adopted option globally. The primary factor that is responsible for this domination is convenience. Electrically heated towel rails are easy to install and require no plumbing, making them ideal for homes without access to hot water, whereas hydronic heated towel rails require a separate hot water supply line, which can be inconvenient for some homeowners. Furthermore, electrically heated towel rails are generally considered safer than hydronic systems because they do not involve exposure to hot water. Additionally, Electric heated towel rails come in a variety of styles and designs, allowing homeowners to choose the one that best fits their needs and preferences. Moreover, hydronic heated towel rails tend to be more expensive than electric models, although the cost difference may be offset by lower operating costs over time, and cost plays a prominent role in preferring electrical heated towel rails over the other boosting the demand. This can be seen from the product launches and innovations that are happening in this space.

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“Amongst applications, the commercial segment generates the majority of the revenue for the heated towel rails in the market in 2022.”

Based on application, the market is bifurcated into residential and commercial. The commercial segment generated most of the demand for heated towel rails in the market. There are several factors contributing to the growing demand for heated towel rails in the commercial sector, particularly in the hospitality industry, such as Increasing tourism and travel. The global middle class is expanding rapidly, and this demographic segment is expected to drive growth in the hospitality industry. Middle-class individuals have higher disposable incomes and are more likely to spend on leisure activities, including travel and dining. Furthermore, affluent consumers are willing to pay more for premium products and services, and the hospitality industry is no exception. Luxury hotels and resorts are experiencing strong demand as wealthy individuals seek exclusive and indulgent experiences. Additionally, business travel is on the rise, and the hospitality industry is benefiting from this trend. Meetings and events are becoming more frequent, and hotels are adapting to meet the needs of corporate clients. Moreover, air travel is becoming more accessible and affordable, which is fueling the growth of international tourism. Hotels and resorts in popular tourist destinations are seeing an influx of foreign visitors. These are some of the factors that are influencing the demand for heated towel rails in the market.

Heated Towel Rail Market Report Coverage

Heated Towel Rail Market
Heated Towel Rail Market

“Asia Pacific is anticipated to witness significant growth in CAGR terms, of the heated towel rail segment market during the forecast period (2023-2030).”

Asia Pacific is emerging as one of the fastest-growing markets for the heated towel rails market. The prominent factor responsible for this growth is the thriving hospitality industry of the region driven by a combination of internal and external factors. Countries like China, India, and Indonesia are experiencing rapid economic growth, leading to an increase in disposable income and a resulting desire for leisure activities. Furthermore, Asia Pacific is home to nearly half of the world’s population, with countries like China and India having large populations that contribute to the growth of the hospitality industry. Additionally, Governments in the Asia Pacific are actively promoting tourism as a means of diversifying their economies and generating foreign exchange earnings, as well as investing heavily in infrastructure development that will have a direct impact on the hospitality sector with increasing connectivity and business travels with the growth of the economy. For instance, In July 2020, the Indian government announced a USD 1.4 billion stimulus package to revive the country’s tourism sector. The package includes incentives for airlines, hotels, and other tourism-related businesses.

For instance, In September 2020, the Chinese government launched a new visa policy to encourage more foreign tourists to visit the country. The policy includes e-visas for visitors from over 60 countries and visa-on-arrival for citizens of 18 countries.

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  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
  • The report presents a quick review of overall industry performance at one glance.
  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
  • The study comprehensively covers the market across different segments.
  • Deep dive regional level analysis of the industry.


Customization Options:

The global heated towel rail market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to contact us to get a report that completely suits your requirements.

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1.1.Market Definitions
1.2.Main Objective
1.3.Stakeholders
1.4.Limitation
2.1.Research Process of the Heated Towel Rail Market
2.2.Research Methodology of the Heated Towel Rail Market
2.3.Respondent Profile 
3MARKET SYNOPSIS
4EXECUTIVE SUMMARY
5IMPACT OF COVID-19 ON THE HEATED TOWEL RAIL MARKET
6HEATED TOWEL RAIL MARKET REVENUE (USD BN), 2020-2030F
7.1.Electric  
7.2.Hydronic 
7.3.Others 
8.1.Residential
8.2.Commercial
9.1.North America    
 9.1.1.The U.S.  
 9.1.2.Canada  
 9.1.3.Rest of North America
9.2.Europe    
 9.2.1.Germany  
 9.2.2.The U.K.  
 9.2.3.France  
 9.2.4.Italy  
 9.2.5.Spain  
 9.2.6.Rest of Europe 
9.3.Asia-Pacific   
 9.3.1.China  
 9.3.2.India  
 9.3.3.Japan  
 9.3.4.South Korea 
 9.3.5.Rest of Asia-Pacific 
9.4.Rest of the World   
10.1.Market Drivers
10.2.Market Challenges
10.3.Impact Analysis
11HEATED TOWEL RAIL MARKET OPPORTUNITIES
12HEATED TOWEL RAIL MARKET TRENDS
13.1.Demand Side Analysis
13.2.Supply Side Analysis
14VALUE CHAIN ANALYSIS
15.1.Competitive Landscape
 15.1.1.Porters Fiver Forces Analysis
16.1.Amba Products
16.2.WarmlyYours.com Inc.
16.3.Warmrails
16.4.Vogue UK Ltd.
16.5.Zehnder Group AG
16.6.Ecolec 
16.7.Kudox 
16.8.Bathroom Butler
16.9.Apollo Radiators
16.10.Myson Inc.
17DISCLAIMER

Research Methodology

Research Methodology for the Heated Towel Rail Market Analysis (2023-2030)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global heated towel rail market were the three major steps undertaken to create and analyze the adoption of heated towel rail in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global heated towel rail market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

A detailed secondary study was conducted to obtain the historical market size of the heated towel rail market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the heated towel rail market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the heated towel rail market. Further, we conducted factor analysis using dependent and independent variables such as the type and application of the heated towel rail market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the heated towel rail market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global heated towel rail market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques, i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of revenue (USD) and the adoption rate of the heated towel rail market across the major markets domestically
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the global heated towel rail market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Heated Towel Rail Market
Heated Towel Rail Market

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global heated towel rail market. data was split into several segments & sub-segments after studying various parameters and trends in the areas of the voltage, application, and end-user in the global heated towel rail market.

The main objective of the Global Heated Towel Rail Market Study

The current & future market trends of the global heated towel rail market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of the heated towel rail market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
  • Segments in the study include areas of type and application
  • Define and analyze the regulatory framework for the heated towel rail
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
  • Analyze the current and forecast market size of the heated towel rail market for the major region
  • Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
  • Company profiles of the heated towel rail market and the growth strategies adopted by the market players to sustain in the fast-growing market
  • Deep dive regional level analysis of the industry

You can also purchase parts of this report. Do you want to check out a section wise
price list?