NEW YORK, Sept. 26, 2023 /PRNewswire/ — The Wall Beds Market size is projected to increase by USD 1.05 billion, accelerating at a CAGR of 6.5%, during the forecast period. The wall beds market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer wall beds market are 9too5 Murphybed, BESTAR Inc., BredaBeds, Clei Srl, Flybed Home, Furl, HS Enterprises, Mahavir Steel and Wooden Furniture, Murphy Beds of San Diego, Murphy Wall Beds Hardware Inc., Ribbonic wallbed, SICO Inc., Spaceman Innovations Pte Ltd., The Bedder Way Co., The London Wallbed Co., Twin Cities Closet Co., Wall Beds Manufacturing Inc., Wallbeds Co., Wilding Wallbeds, and BOFF. The report provides a full list of key companies, their strategies, and the latest developments. Download Free Sample report before buying
Wall Beds Market 2023 – 2027: Company Offering
Wilding Wallbeds: The company offers wall beds such as Metro, Bristol, Dale, Euro, Fern, Nantucket, Portola, Ryland, and Tahoe.
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Wall Beds Market 2023 – 2027: Segmentation and regional analysis
The wall beds market report extensively covers market segmentation by distribution channel (offline and online), type (single bed and double bed), and geography (North America, Europe, APAC, Middle East and Africa, and South America).
North America is expected to contribute significantly, accounting for 35% of the global market’s growth during the forecast period. This is primarily driven by strong consumer demand for wall beds in the US, Canada, and Mexico. Factors such as rapid urbanization, the adoption of communal living trends in the US, and growth in the real estate market are positively impacting the North American wall bed market.
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Wall Beds Market 2023 – 2027: Market dynamics
- Impactful driver- The primary driver of market growth is the rising demand for space-saving home furniture. This demand is particularly notable among urban dwellers, especially in Tier-1 and Tier-2 cities globally. As housing units and apartments continue to decrease in size worldwide, there is a growing need for compact, multi-functional furnishings like wall-mounted beds. Wall beds, in particular, are well-suited for small rooms with limited space.
- Key Trend – A notable trend in the market is the surging demand for environmentally friendly wall beds. Numerous sellers in the market now provide eco-friendly wall bed options. Factors such as increased awareness regarding the environmental consequences of widespread deforestation and its impact on climate change have prompted many home furniture manufacturers to embrace eco-friendly practices.
- Major Challenges – A significant challenge impacting market growth is the fluctuation in raw material prices. The increasing costs of premium materials like wood and steel, essential for wall bed production, have led to elevated production expenses. Consequently, market players often sell wall beds at higher prices to compensate for these production costs. Additionally, the volatility in raw material prices can incentivize sellers to opt for cheaper, lower-quality materials when manufacturing wall beds.
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Portable Beds Market: The portable beds market share is expected to increase by USD 2.17 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 7.77%.
Smart Bed Market: The smart bed market size is estimated to grow at a CAGR of 7.91% between 2022 and 2027. The market size is forecast to increase by USD 1,260.69 million.
Table Of Contents:
- Executive Summary
- Market Landscape
- Market Sizing
- Historic Market Size
- Five Forces Analysis
- Market Segmentation by Distribution Channel
- Market Segmentation by Type
- Market Segmentation by Geography
- Customer Landscape
- Geographic Landscape
- Drivers, Challenges, and Trends
- Vendor Landscape
- Vendor Analysis
- Appendix
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