Wall Beds Market size to grow by USD 1.05 billion from 2022 to 2027, Market is fragmented due to the presence of prominent companies like 9too5 Murphybed, BESTAR Inc., BredaBeds and many more, Technavio

NEW YORK, March 15, 2024 /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.

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Wilding Wallbeds: The company offers wall beds such as Metro, Bristol, Dale, Euro, Fern, Nantucket, Portola, Ryland, and Tahoe.

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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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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.

Analyst Review

The global wall bed market is experiencing significant growth, driven by several key factors and trends. As modular living becomes increasingly popular, consumers are seeking innovative solutions to optimize space in their homes. This trend is underscored by the rising number of people, coupled with population growth and the prevalence of nuclear households. In response, the market has seen a surge in the construction of motels, lodges, and hotels, all of which require space-saving furniture solutions like wall beds.

Wall beds, also known as Murphy beds, are at the forefront of this market expansion. They offer a versatile sleeping solution that can transform seamlessly into sofas, cupboards, seats, and tables, maximizing extra space and enhancing home décor. This adaptability quotient and portability make wall beds a convenient choice for consumers seeking different sleeping furniture options.

With increasing demand, the wall bed market presents numerous growth opportunities for industry players. Manufacturers are focusing on product innovations, such as instant bedrooms and twin cities closet systems, to cater to evolving consumer preferences. Companies like Bedder Way Murphy Beds, Wilding Wallbeds, and Spaceman are leading the way with their diverse product offerings and geographic expansions.

Trade regulations and import-export analysis play a crucial role in shaping the competitive landscape of the wall bed market. Understanding production dynamics and optimizing the value chain are essential for market players to capitalize on emerging revenue pockets. Moreover, strategic market growth analysis and compliance with changing market regulations are paramount for sustainable expansion.

In terms of industry trends, the emphasis is on product approvals, launches, and technological innovations to stay ahead of the competition. Insights into market share and size provide valuable intelligence for companies looking to gain a competitive edge.

Overall, the global wall bed market is poised for robust growth, driven by the increasing demand for space-saving furniture solutions in both residential and commercial sectors. With a focus on adaptability, convenience, and innovation, industry players are well-positioned to capitalize on the expanding market opportunities and meet the evolving needs of consumers worldwide.

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Market Overview

The global wall bed market is experiencing significant growth, driven by the increasing demand for modular way of living solutions. With rising urbanization, space optimization has become crucial, leading to a surge in the adoption of multifunctional furniture like wall beds. These innovative pieces offer berths for sleeping, seamlessly transforming into sofas during the day, accompanied by integrated cupboards for storage, convenient seats, and even fold-out tables. This trend reflects the growing pressure on living spaces, prompting consumers to seek versatile furnishing options. Consequently, manufacturers are witnessing the need for expansion to meet escalating demands and capitalize on the evolving market dynamics.

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Related Reports:

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:

1. Executive Summary
2. Market Landscape
3. Market Sizing
4. Historic Market Size
5. Five Forces Analysis
6. Market Segmentation by Distribution Channel
7. Market Segmentation by Type
8. Market Segmentation by Geography
9. Customer Landscape
10. Geographic Landscape
11. Drivers, Challenges, and Trends
12. Vendor Landscape
13. Vendor Analysis
14. Appendix

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact US:

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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