Global Wall Bed Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028

Global Wall Bed Market: Overview

"The Wall Bed Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."

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Wall beds are the type of beds or furniture pieces that can be folded and aid in systematically organizing the available space. These beds are wall-mounted and can be easily operated; they are also available in different color combinations and customizable as per the requirements of the end-use application.

Increasing population is one of the key factors expected to drive the global wall bed market growth. In addition, the increasing cost of spacious apartments or flats is influencing the development of small-sized homes or commercial spaces, which need optimum available space. Some key aspects encourage manufacturers to develop space-saving furniture, propelling the target market growth.

Furthermore, advancements in design, features, and technology are projected to support the revenue growth of the target market over the forecast period. Moreover, availability of the automatic wall beds in the marketplace, which can be controlled by using remotes, improved standard of living coupled with increasing disposable income and urbanization are some additional factors anticipated to propel the growth of the global market.

Ongoing trends of inexpensive vacation stays and solo trips influence industry leaders to invest in wall beds to optimize their returns on investments. However, compared to normal beds, the high cost of these beds is a major factor expected to hamper the target market growth over the forecast period.

Global Wall Bed Market: Segmental Analysis

Among the product type, the single wall bed segment is expected to register significant growth over the forecast period. The application segment is sub-segmented residential and non-residential. The non-residential segment is projected to account for the significant revenue shares of the global market, which can be attributed to the rapidly growing hospitality sector across the globe.

Global Wall Bed Market: Regional Analysis

The North American wall bed market is projected to dominate the global market and continue its dominance over 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.  The wall bed market in the Asia Pacific is projected to account for significant revenue shares of the target market. This is owing to the increasing population and comparatively lesser space available for accommodation.

Global Wall Bed Market Segmentation:

Segmentation by Product Type:

• Single Wall Bed
• Double Wall Bed

Segmentation by Application:

• Residential
• Non-Residential
  • Guest Houses
  • Hospitals
  • Restaurants

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa