The global wall bed market size is expected to grow due to the growing number of people staying alone over 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 bed usage and purchase of studios worldwide. The increasing development of inns, chalets and resorts are decisive elements in the growth of the market. The ability of beds to transform offers a potential component to home decor. According to the ‘Cost of Living Alone’ article published by the UK Department for National Statistics in April 2019, the number of people living alone in their homes in the UK has fallen from 7.7 million in 2017 to 8.7 million in 2018. Furthermore, according to the same source, the number of single-person homes in the UK is expected to reach 10.7 million by 2039.
Impact of COVID-19-
Supply chain disruption is hampering market growth
When governments around the world implemented lockdowns, it led to trade restrictions and supply chain disruptions, which hurt market growth. Many companies in the industry have been forced to shut down their manufacturing plants and the majority of construction contracts have been canceled which has impacted the growth of the market. However, with the lifting of the lockdown, the demand for wall beds is expected to increase.
Get a sample PDF brochure:
List of Key Players Featured in the Global Wall Beds Market:
Murphy Murphy Bed Hardware Inc.
Wilding Murphy Beds
The London Wallbed Company
Murphy Bed Manufacturing Inc.
Candy Trading Limited
The Bedder Way Company
By bed type, the market is split into single and double. Based on bed material, the market is divided into metal and wood. Based on size, the market is segmented into king, queen, and others. On the basis of operation, the market is segmented into manual and automated. Based on application, the market is separated into residential and commercial. Finally, by geography, the market is categorized into North America, Europe, Asia-Pacific, South America, Middle East & Africa.
What does the report include?
The market report includes detailed analysis of global, regional and segment sizes, business growth, profit margins, market trends, purchase orders, effect of domestic and international market players, value chain standardization, business laws, latest happenings, opportunity assessment, organizational market growth analysis, new products and global market deportation from the region.
Drivers and Constraints-
Increase in demand for eco-friendly furnishings to drive growth
During the projected period, the growth of the global wall bed market is expected to increase owing to the launch of new products. A growing trend in the industry is for more eco-friendly and sustainable furniture. Environmentally friendly furniture and interiors, such as those constructed from Moso bamboo, which is sturdier than oak, are preferred by consumers. Environmental concerns, such as awareness of climate change and the impact of destruction on the environment, are driving the trend towards sustainable furnishings. Accordingly, the growing demand for eco-friendly furniture will drive the demand for eco-friendly wall beds, which is expected to drive the expansion of the market throughout the forecast period.
Browse the full summary of the report:
High disposable income to drive growth in North America
North America is expected to hold the highest global wall bed market share during the forecast period. They are increasingly popular with consumers because they can store more items. With the growing trend of investing in a start-up, the desire for home offices is increasing, where the same space can be converted from a bedroom into a home office. Therefore, the market is also growing in emerging countries.
Asia-Pacific is expected to occupy an important position in the market. This is due to increasing urbanization, living standards and a variety of products in the region. For example, according to World Population Prospects, as of August 2019, Asia has the highest population density of any region. Asia’s population density was 144.3 people per square kilometer in 2016, increased to 147.0 people per square kilometer in 2018, and is expected to reach 149.6 people per square kilometer by 2020.
Key Players Focus on Partnership to Strengthen Market Position
The in-depth analysis reveals market growth potential, future trends, and market size and forecast data. The report provides cutting-edge technology and market insights to help decision makers make informed strategic decisions. The report also examines market drivers and challenges, along with a competitive analysis.
October 2019: Wilding announced the launch of a new range of wall beds. These beds will be available in four distinct models, each designed to eliminate the need to attach the bed to the wall.
Inquiry before buying:
Fortune Business Insights™ Pvt. ltd.
9th floor, icon tower,
Baner, Pune-411045, Maharashtra, India.
USA: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: [email protected]
Fortune Business Insight™
Linkedin |Twitter |Blogs
Fortune Business Insights™ delivers expert business analysis and accurate data, helping organizations of all sizes make timely decisions. We adapt innovative solutions to our customers, helping them to meet the challenges specific to their activities. Our goal is to give our clients holistic market intelligence, providing granular insight into the market they operate in.
This press release was published on openPR.