Wall Bed Market Trends, Industry Share, Growth Drivers, Business Opportunities and Demand Forecast to 2029

The global wall bed market size is expected to gain momentum owing to the increasing number of individuals staying alone during the forecast period. This information is published by Fortune Business Insights™ in an upcoming report, titled, “Wall Bed Market, 2022-2029.” The market is growing due to an increase in the use of beds and the purchase of studio flats around the world. The increasing development of hostels, cabins, and resorts are decisive elements in the market's growth. The ability of beds to transform offers a potential component to home décor. According to the article "cost of living alone" released by the Ministry of National Statistics in the United Kingdom in April 2019, the amount of individuals living alone in the house in the United Kingdom increased to 8.7 million in 2018 from 7.7 million in 2017. Furthermore, according to the same source, the number of one-person homes in the United Kingdom is anticipated to reach 10.7 million by 2039.

COVID-19 Impact-

Supply Chain Disruption to Hamper Market Growth

When governments across the globe implemented a lockdown, it resulted in trade restrictions and supply chain disruptions, which harmed market growth. Many industry firms were forced to close their manufacturing plants, and a majority of construction contracts were canceled, all of which had an impact on market growth. With the lifting of lockdown, however, demand for wall beds is expected to increase.

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List of Key Players Profiled in the Global Market for Wall Bed:

  • Murphy Wall Beds Hardware Inc.
  • Wilding Wall Beds
  • Furl
  • The London Wallbed Company
  • Wall Bed Manufacturing Inc.
  • BREDA Inc.
  • Bonbon Trading Limited
  • SICO Incorporated
  • The Bedder Way Company
  • BESTAR Inc.

Segments-

By bed type, the market is divided into single and double. On the basis of bed material, the market is divided into metal and wooden. On the basis of size, the market is segmented into king, queen, and others. On the basis of operation, the market is segmented into manual and automated. On the basis of application, the market is segregated into residential and commercial. Finally, by geography, the market is categorized into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

What does the Report Include?

The market report includes a detailed analysis of global, regional, and segment sizes, business growth, profit margins, market trends, purchase orders, the effect of domestic and international market participants, value chain standardization, trade laws, latest events, opportunities assessment, organizational market growth analysis, new products, and area global market deportation.

Drivers & Restraints-

Increasing Demand for Eco-Friendly Furnishing to Stimulate Growth

During the projected period, the worldwide wall bed market growth is expected to grow due to new product launches. A growing trend in the industry is for more environmentally and sustainable furnishings. Eco-friendly furniture and interiors, such as those constructed from Moso bamboo, which is more sturdy than oak, are preferred by consumers. Environmental concerns, such as awareness of climate change and the impact of destruction on environments, are driving the trend toward sustainable furnishings. As a result, the rising demand for eco-friendly furnishings will boost demand for environment-friendly wall beds, which is likely to drive market expansion throughout the forecast period.

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REGIONAL INSIGHTS

High Disposable Income to Promote Growth in North America

North America is expected to hold the largest global wall bed market share during the forecast period. They are becoming more popular among consumers since they can store more items. With the growing trend of investing in a start-up, the desire for home offices is rising, where the same space can be converted from a bedroom to a home office. As a result, the market is growing in emerging countries as well.

Asia Pacific is anticipated to hold a significant position in the market. This is due to increasing urbanization, the standard of living, and a variety of products in the region. For example, according to World Population Prospects, in August 2019, Asia has the highest population density of any region. Asia's population density was 144.3 people per square kilometer in 2016, grew to 147.0 people per square kilometre in 2018, and is expected to reach 149.6 people per square kilometre by 2020.

Competitive Landscape-

Key Players Focus on Partnership to Strengthen its Market Position

The in-depth analysis reveals the market's growth potential, future trends, and data for the market size and forecast. The report delivers cutting-edge technologies and market insights to assist decision-makers in making informed strategic decisions. The report also examines market drivers and challenges, as well as a competitive analysis.

Industry Development-

  • October 2019: Wilding announced the debut of a new line of wall beds. These beds will be available in four distinct designs, each of which is designed to eliminate the need to tie the bed to the wall.

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