Rising demand of studio apartment and increasing population will increase the Wall Bed Market
Published | March 2019
Increasing population with the shifting of population from rural areas to urban areas increases the population density, leading to smaller size rooms and the growing need of Foldable Wall beds. Hence, the usage of the same space for multiple works increases the demand for the foldable wall bed. Wall beds help to alter a living room into a bedroom or vice versa.
The trend of interior decoration also boosts consumption of wall bed. These beds are widely used by the house furnishing companies to create the invisible beds in the room which are available in the short and broad formats. Moreover, these beds come up with sophisticated designs and many of them come with wall mounting systems and lighting systems. With the advanced technology, wall beds are come up with cabinets to provide added storage are in vogue.
Also with the development in technology these automatic wall beds are available which can be operated using remove as well as can also be operated by wall mounted control and Android devices. Automatic wall beds have hydraulic systems which help the bed to fold and unfold thus, creating a huge market for existing players.
Single wall bed- type of wall bed market is projected to be the fastest growing of the overall market during the forecast period
On the basis of product type, the global wall bed market can be categorized into single wall bed, double wall bed. Single Wall Bed is the fastest growing segment owing to its features such as it occupied less space, Cost-efficient, easily transformed. Furthermore, it is more likely to be used by nuclear families as well used can be widely used in a rented apartment. Moreover, with the sophisticated design and technology development consumer can relocate the bed without damaging the wall with a spring mattress and a sturdy metal frame.
As most people around the world own only single house, it becomes difficult for them to manage all the items in one place and wall bed increases the available area by more than 20% which can be utilized for some other purpose thus, fuelling the demand of wall bed over the forecast period.
Residential usage of wall bed is projected to be the fastest growing segment of the overall market during the forecast period
On the basis of application, the wall bed market can be categorized into Residential and commercial. Increase in development of infrastructure due to small space with the easy availability of apartments at a lower price increase the market of multi-purpose furniture. Thus, the advancement in technology with the availability of manual and automated folded wall bed is attracting more consumers which eventually increase the number of sales volume over the forecast period. Today’s interior decorators come up with innovative ideas to precisely using space will boost the new innovative product of wall Bed in coming years.
North America accounts for lion share of the global Wall Bed market during the anticipated period.
Currently, North America is dominating the market of Wall Bed due to the high disposable income of people and development in overall infrastructure. The major factor which is driving the market is the changing lifestyle of the consumer which required more space in the house. Consumer preference is shifting towards wall bed as it can be used to keep more stuff.
With the trend to invest in a start-up the demand of home-office is also increasing where the same space can be transformed from bed-room to home-office Thus, increasing the demand of wall bed market in developing countries also. Europe holds the second biggest market due to the high migration ration of people from other countries. Asia-Pacific stands as the third biggest market where Japan and China are leading.
Global Wall Bed Market Competitive Landscape
Companies such as Wilding Wallbeds, Murphy Wall Beds Hardware Inc., SICO Incorporated, FlyingBeds International, The London Wallbed Company, The Bedder Way Co., Bestar Inc, Twin Cities Closet Company, B.O.F.F. Wall Beds, and Wall Beds Manufacturing are the key players in manufacturing Wall bed. In terms of product offerings, The London Wallbed Company, Costco Wholesale Corporation is the major players in the market.
The in-depth analysis of the report provides the growth potential, upcoming trends and statistics of Global Wall Bed Market size & forecast. The report promises to provide state-of-the-art technology of Wall Bed Market and industry insights which help decision makers to take sound strategic decisions. Furthermore, the report also analyzes the market drivers and challenges and competitive analysis of the market.
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