Increasing number of studio flats and nuclear households, rising population and growing urbanization are the key factors driving the growth of wall bed market, globally.
According to TechSci Research report, “Wall Bed Market – Global Industry Size, Share, Trends, Competition, Opportunities, and Forecast, 2017-2027F” The global wall bed market is expected to grow during the forecast period. A wall bed can be folded vertically against a wall or inside a cabinet or closet. It is also referred to as a pull-down bed or fold-down bed. Wall beds are a great option for a guest room, studio, or other multipurpose room. Typically, a wall bed consists of a strong metal frame and a spring mattress.
Increasing population is one of the main factors anticipated to drive the global wall bed market growth. Additionally, the development of small-sized homes or commercial spaces, which require the most available space, is influenced by the rising cost of spacious apartments or flats. Some important factors encourage furniture makers to create space-saving designs, driving the expansion of the target market.
Additionally, technology, features, and design improvements are anticipated to support the target market’s revenue growth over the forecast period. Additional factors that are anticipated to boost the growth of the global market include the availability of automatic wall beds that can be operated by remotes. Also, an improved standard of living of people coupled with rising disposable income, and urbanization are further anticipated to drive the growth and demand of the market globally.
Industry leaders invest in wall beds to maximize their returns on investments due to ongoing trends of cheap vacation stays and solo travel. But compared to standard beds, the high price of these beds is a significant factor anticipated to restrain the growth of the target market over the forecast period.
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The global wall bed market is segmented based on bed type, bed material, operation, application, distribution channel, region, and competitive landscape.
Based on bed type, the global wall bed market is segmented into single and double wall beds. Among these, a single wall bed is the fastest growing segment during the forecast period since it is easily transformable, cost-effective, and takes up less space. Additionally, nuclear families are more likely to use it, and it can be used extensively in a rented apartment. A spring mattress and a sturdy metal frame allow the consumer to move the bed without damaging the wall owing to the sophisticated design and technological advancements.
Based on bed material, the global wall bed market is segmented into metal and wooden wall beds. Among these, the metal wall bed is the fastest growing segment during the forecast period because the metal wall bed is lightweight and provides better stability and durability.
Based on operation, the global wall bed market is segmented into manual and automated wall beds. Among these, the automated wall bed holds the leading share in the market because it can be folded easily and can be controlled using a remote.
Based on application, the global wall bed market is segmented into residential and commercial. Among these applications, the residential segment holds the leading share in the market during the forecast period due to the increasing adoption of wall beds in studio apartments worldwide.
Based on the distribution channel, the global wall bed market is segmented into home furnishing & furniture stores, retail stores, and online stores. Among these, online stores are the fastest-growing segment. From online stores, customers can easily purchase the product from their homes and through their mobile phones.
Based on region, the global wall bed market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Among these regions, North America holds the leading share in the market during the forecast period. This can be attributed to the high disposable income of the population coupled with an increasing inclination towards optimum utilization of the household space. In addition, the strong presence of the wall bed manufacturing companies is projected to support the revenue growth of the target market in the region.
Key market players operating in the global wall bed market include:
- Murphy Wall Beds Hardware Inc.
- SICO Incorporated
- More Space Place, Inc.
- Wilding Wallbeds
- The Bedder Way Co
- Bestar Inc.
- Instant Bedrooms Manufacturing Inc.
- Twin Cities Closet Company
- Wall Beds Manufacturing
- Spaceman Innovations Pte Ltd.
Customers can also request for 10% free customization on this report.
“As more people move from rural to urban areas, the population density rises in urban areas resulting in smaller rooms and increasing demand for foldable wall beds. Thus, the need for the foldable wall bed grows as more uses of the same space are made possible. Wall beds make it easier to convert a living space into a bedroom or the opposite. The popularity of wall beds is also increasing due to the interior design trend. by home furnishings companies. Additionally, these beds feature sophisticated designs, and many of them include lighting and wall mounting systems.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Wall Bed Market – Global Industry Size, Share, Trends, Opportunities, and Forecast, 2017-2027 Segmented By Bed Type (Single Vs. Double), By Bed Material (Metal Vs. Wooden), By Operation (Manual Vs, Automated), By Application (Residential Vs. Commercial), By Distribution Channel (Home Furnishing & Furniture Stores, Retail Stores, Online Stores), By Region”, has evaluated the future growth potential of wall bed market globally and provides statistics and information on market structure, size, share, and future growth. The report provides cutting-edge market intelligence and helps decision-makers to make sound investment decisions. Besides, the report also identifies the emerging trends along with essential drivers, challenges, and opportunities present in the global wall bed market.
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