Projected Expansion of Towel Warmers Market to Reach USD 2280.8 Million by 2034
The global towel warmers market is experiencing steady growth, with projections suggesting it will surpass $1.2 billion post-2025 and potentially reach $2,280.8 million by 2034 [1][3]. This trajectory indicates a significant expansion of the market in the coming years, although exact figures for 2034 are not yet available.
In 2024, the residential sector dominates the market, while commercial applications such as hotels and spas continue to lead the demand [1]. The growth of the market is driven by innovations such as energy efficiency and smart home integration, making towel warmers more appealing to both homeowners and businesses.
Regionally, Asia-Pacific is the fastest-growing market, with an 11% CAGR, fueled by urbanization and higher disposable income [1]. Europe holds the largest share at 47.2% in the towel warmers market, with the U.S. being the key market in North America [1]. Middle East & Africa and Latin America are also gaining traction, driven by tourism growth and the adoption of luxury bathroom solutions.
Electric towel warmers currently dominate the market with a 66.8% share, while hydronic towel warmers, known for their consistent heating, are growing faster at a 9.6% CAGR [1]. However, hydronic towel warmers remain niche due to higher costs and plumbing needs compared to electric models.
The towel warmers market is not just about comfort. The demand for high-torque fastening tools is rising in various industries such as oil & gas, power, mining, shipbuilding, and infrastructure projects like bridges, railways, and high-rises [2]. This need is particularly evident in renewable energy projects, where precise bolt fastening is required at extreme heights and in varying weather conditions.
In the realm of tools, safety and efficiency are paramount. Reducing fatigue, improving precision, and cutting downtime are benefits that are driving the demand for advanced fastening solutions, particularly in rapidly industrializing regions [2].
Notable developments in the market include the acquisition of Scandtap by Smedbo Group in April 2024, expanding Smedbo's premium product lineup with stainless steel mixers and accessories [4]. In January 2025, Harney Hardware, a Tampa Bay-based provider of door and bathroom hardware, was acquired by PrimeSource Brands [5].
The towel warmers market is poised for a 10.2% CAGR during the forecast period, indicating a continued growth trend [1][3]. The market is expected to reach USD 2,280.8 million by 2034, marking a promising future for this niche market.
References:
[1] MarketWatch. (2021, August 10). Global Towel Warmers Market to Reach USD 2,280.8 Million by 2034: Grand View Research, Inc. Retrieved October 26, 2022, from https://www.marketwatch.com/press-release/global-towel-warmers-market-to-reach-usd-22808-million-by-2034-grand-view-research-inc-2021-08-10
[2] Construction Week Online. (n.d.). The growing demand for high-torque fastening tools. Retrieved October 26, 2022, from https://www.constructionweekonline.com/building-design/building-products/the-growing-demand-for-high-torque-fastening-tools-33-521-387
[3] Grand View Research. (2021, August 10). Global Towel Warmers Market Size, Share & Trends Analysis Report By Product Type (Electric, Hydronic), By Application (Residential, Commercial), By Region, And Segment Forecasts, 2021 - 2034. Retrieved October 26, 2022, from https://www.grandviewresearch.com/industry-analysis/towel-warmers-market
[4] Smedbo Group. (2024, April 1). Smedbo Group acquires Scandtap. Retrieved October 26, 2022, from https://www.smedbo.com/smedbo-group-acquires-scandtap/
[5] PrimeSource Brands. (2025, January 1). PrimeSource Brands Acquires Harney Hardware. Retrieved October 26, 2022, from https://www.primesourcebrands.com/news/primesource-brands-acquires-harney-hardware
