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

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.

GET A REPORT SAMPLE

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.

REQUEST FOR CUSTOMIZATION

“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

“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.

Reasons to buy this report:

• 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.