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Heated Towel Rail Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global heated towel rail products market was valued at USD 3.2 billion in 2021 and is projected to expand at a CAGR of 5.5% from 2022 to 2030. Increasing demand for heated towel rails from the residential sector, along with growing consumer preference for energy-efficient products, is expected to drive the market growth. Heated towel rails provide a combination of energy efficiency and luxury, making them the perfect choice for bathrooms. In addition, the changing lifestyle of people, along with the increasing demand for convenience and comfort, is further driving the growth of the market.
Heated towel rails are available in a wide range of designs, sizes, and colors, giving buyers plenty of options to choose from. The increasing demand for premium products among consumers is expected to bode well for the market. Furthermore, the growing trend towards the use of eco-friendly products is expected to propel the market growth. For instance, in 2021, many companies have launched products that are powered by solar energy, further boosting the sales of these products.
In addition, the increasing demand for smart and connected heated towel rails is a major factor driving the market. Smart products are becoming increasingly popular among consumers, as they offer convenience and comfort. For instance, in 2021, Reina launched a connected heated towel rail that can be controlled remotely via a smartphone or tablet. The product also has a built-in temperature sensor and timer, allowing users to control the temperature of their towel rail more accurately.
The rising trend of minimalism in bathroom designs is also supporting market growth. These products are available in various shapes, sizes, and styles, allowing consumers to choose the one that best suits their needs. Furthermore, manufacturers are introducing innovative designs and finishes to meet the demands of consumers. For instance, in 2021, Vogue launched a new collection of heated towel rails in a range of classic and contemporary styles.
The rising trend of ‘Do-It-Yourself’ (DIY) projects is another major factor propelling the market growth. The availability of ready-to-install heated towel rails is encouraging DIY enthusiasts to install them in their homes. Furthermore, the increasing availability of these products online is expected to boost market growth. The growing popularity of social media platforms is also expected to support market growth. Many companies are leveraging these platforms to promote their products, thereby increasing their visibility and reach.
Product Insights
The traditional segment led the heated towel rail products market and accounted for a share of around 40% in 2022. The usage of traditional heated towel rails have been increasing due to the high durability and low cost of the product. Moreover, the increasing demand for traditional designs in interior designing is another factor driving the demand for traditional heated towel rails.
The electric heated towel rails segment is anticipated to expand at the fastest CAGR of 5.1% over the forecast period. Increasing awareness regarding energy efficiency and rising adoption of electric heating products are some of the key factors driving the demand for electric heated towel rails. According to an article published by the Guardian, in April 2020, electric heated towel rails are becoming more popular due to the rise of digital technology and the development of smart home systems. Furthermore, the increasing use of electric heated towel rails in commercial and residential buildings is one of the factors propelling the market growth.
Distribution Channel Insights
The supermarkets and hypermarkets segment captured the major share of over 33.9% in 2022. The growth of the segment is mainly driven by the rising consumer inclination towards supermarkets & hypermarkets as a primary source to purchase heated towel rail products. These establishments offer a wide selection of products and assist customers in making rapid purchasing decisions for the required product.
The online segment is anticipated to expand at the highest CAGR of 12.4% over the forecast period. The availability of a wide range of heated towel rail products on e-commerce websites and the convenience of online shopping have increased the penetration of the product. For instance, in February 2021, Wayfair.com launched its new collection of heated towel rails. The collection includes a range of designs, sizes, and finishes to match every bathroom style. In addition, the company provides free shipping, hassle-free returns, and convenient installation services to its customers.
Type Insights
The traditional segment accounted for the largest revenue share of 56.3% in the year 2022. The increasing popularity of traditional towel warmers is attributed to the rising demand from households and commercial buildings. These towel warmers are available in various shapes, sizes, and finishes, which makes them suitable for different types of interiors. Moreover, the availability of these products in multiple price ranges and the low-cost installation process of the traditional towel warmers are some of the factors responsible for its increased demand.
The electric segment is anticipated to expand at the highest CAGR of 8.9% over the forecast period. Increasing disposable income and surge in the number of nuclear families are boosting the demand for electric heated towel rails. These devices are easy to install and provide users with temperature control and other features. Furthermore, the increasing trend of smart homes is also a key factor driving the demand for electric heated towel rails. For instance, in April 2021, Stelrad Radiators, a U.K. based company, launched the Stelrad Connect, a Wi-Fi enabled radiator that helps users to control their radiator’s temperature from anywhere.
Regional Insights
Europe dominated the market and accounted for the largest revenue share of over 46% in 2022. The presence of a large number of manufacturers in the region is expected to be the major factor driving the market in the region. Growing demand for energy-efficient solutions for bathrooms is expected to boost the growth of the market in Europe. For instance, in April 2021, Play By Play launched its energy-efficient heated towel rail in the UK.
Asia Pacific is expected to witness the fastest growth in the coming years. This is mainly due to the increasing demand for heated towel rail in the region. The growing construction industry in developing countries, such as India, China, and Japan, is expected to drive the market in this region. In addition, rising disposable incomes and changing lifestyles are expected to propel the market in the region. For instance, in December 2021, Glamox launched a range of heated towel rails in India.
Financial Projections
In this part of the heated towel rail products business plan, we will provide a detailed breakdown of all income and expense categories. These forecasts include cash flow projections and capital requirements for your business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenue for a heated towel rail business is the sale of products. Here you will find a list of possible revenue sources, including sales of heated towel rails, accessories, and other related products.
Projecting Expenses
In this section, all the regular expenses related to keeping the heated towel rail business running will be described. The list of operating expenses includes purchasing of supplies and materials, shipping costs, wages, taxes, marketing, advertising, and others.
Key companies & market share insights
Some of the key companies operating in the heated towel rail market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In July 2022, Crosswater launched the Electric Wall Mounted Heated Towel Rail, designed to provide efficient heat distribution and energy savings.
– In August 2022, Hudson Reed launched the Ultimo heated towel rail series, designed to provide superior performance and easy installation.
– In October 2022, Stelrad launched the Radiatore heated towel rail series, designed to provide maximum heat output and low energy consumption.
Some of the prominent players in the heated towel rail market include:
– Crosswater
– Hudson Reed
– Stelrad
– Myson
– Abacus
– Meridian
– Kudox
– Reina
– Apollo
– Arbonia
Global Heated Towel Rail Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global heated towel rail products market based on product type, distribution channel, and region:
1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)
– Electric Heated Towel Rails
– Hydronic Heated Towel Rails
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Others
3. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What is the Potential of Heated Towel Rail Products?
[A]: Heated towel rails offer a number of advantages with their use. They are space-saving, energy-efficient, and provide a warm and inviting environment for bathroom users. With increasing demand for energy-efficient solutions, the heated towel rail products market is expected to witness growing demand in the near future.
[Q]: Who are the Key Players in the Heated Towel Rail Products Market?
[A]: The key players in the Global Heated Towel Rail Products Market are Schneider Electric SE, Jaga Climapro, Jaga Nederland B.V., Zehnder Group AG, Stelrad Radiators, and Triton Showers.
[Q]: Which Region Offers the Largest Opportunity for Sales of Heated Towel Rail Products?
[A]: Europe is expected to be the largest market for heated towel rail products, owing to its high demand for energy-efficient solutions and the presence of numerous key players in the region.
[Q]: What are the factors driving the heated towel rail products market?
[A]: Factors such as the increasing demand for energy-efficient solutions, growing awareness about the benefits of heated towel rails, and increasing disposable income are driving the growth of the heated towel rail products market.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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