The Chinese electric towel rack industry has developed rapidly in the past few years, and the market size has also been continuously growing. According to the in-depth research report on the operation trend and investment planning of China's electric towel rack industry from 2024 to 2030 released by Market Research Online, the market size of China's electric towel rack industry was 2 billion yuan in 2018, 2.5 billion yuan in 2019, 3 billion yuan in 2020, 3.5 billion yuan in 2021, 4 billion yuan in 2022, 4.5 billion yuan in 2023, and 5 billion yuan in 2024.

With the continuous growth of market size, the competition in China's electric towel rack industry is becoming increasingly fierce. At present, the main competitors in China's electric towel rack industry include Haier, Joyoung, Philips, Supor, Midea, Galanz, Konka, and BBK. These enterprises are actively developing, strengthening product research and technological improvement to meet consumers' demand for electric towel racks.

In addition, the Chinese electric towel rack industry is also supported by government policies. The government has introduced a series of fiscal policies to support industry technological innovation and promote industry development. The government has also introduced some tax incentives to help businesses save costs and improve their competitiveness.

In the coming years, China's electric towel rack industry will usher in rapid growth opportunities. As consumers' demand for comfort continues to increase, the demand for electric towel racks will also continue to rise, and new products in the market will drive the development of the industry. Meanwhile, government policy support will also bring more opportunities and potential for industry development.

Overall, the market size of China's electric towel rack industry is constantly growing and will usher in opportunities for rapid development in the coming years. Enterprises in the industry should strengthen technological innovation and product development, seize opportunities for future development, and enhance their level of development.