North America Holds the Leading Market Share in the Global Wall Bed Market During the Forecast Period
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.
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“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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