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Report
US Wall Beds - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029
Market Report I 2024-02-17 I 150 Pages I Mordor Intelligence
The United States wall beds market has generated revenue of USD 336.56 billion in the current year and is poised to achieve a CAGR of more than 6% for the forecast period.
Key Highlights
-The United States wall beds are also known as the Murphy wall beds. Murphy beds are beds that are hinged at one end and can be stored vertically against the wall. Wall beds are available for residential and commercial purposes, with a range of features that can enhance the user experience. The demand for a higher level of comfort is driving the market. Wall beds are used in the United States because, in most homes in the United States, space is at a premium while a majority of the wall remains unused. Wall beds take advantage of the vertical space by folding up during the day. This way, the bed doesn't take up valuable floor space.
-After the pandemic, the United State's homes have transformed into multi-functional spaces, serving as offices, classrooms, gyms, and relaxation zones. The transformation has prompted many to reassess their living arrangements, particularly the importance of space efficiency. The growing awareness of environmental protection among the people has led to an increase in demand for eco-friendly home furniture, including wall beds. Many sellers in the market started offering eco-friendly wall beds, which are made from plant-based or recycled fibers and raw materials.
-The growing trend of home renovations and remodeling presents an opportunity for wall bed manufacturers. The increasing popularity of online shopping presents a significant opportunity for wall bed manufacturers to establish a strong online presence, partnering with e-commerce platforms and enhancing the customer experience through virtual tools is driving sales growth.
US Wall Beds Market Trends
Technological Advancements in Wall Beds
- Manufacturers in the United States are developing innovative wall beds to attract clients and improve sales. Wall beds with cupboards for additional storage are now popular in the market. Storage cabinets take up an additional area in the room.
- Therefore, they are put on the wall bed to free up space. The wall bed's operating system is heavily reliant on technology. Technology is also used to operate wall beds. There are automatic wall beds on the market that are controlled by a remote.
- Wall-mounted controls and Android devices are also used to control these wall beds. Hydraulic systems assist in the folding and unfolding of automatic wall beds.
E - Commerce is Driving the Market
- The e-commerce segment has witnessed rapid growth in the United States owing to the high penetration of the internet and smartphones along with technological advancements. The role of e-commerce in the United States had a greater impact on the United States wall beds market. Internet penetration, technological advancements such as artificial intelligence, augmented reality, and virtual reality in e-commerce websites, faster delivery, and sample availability are the primary reasons boosting the online sales of United States wall beds.
- Consumer behavior is also changing in the industry, with an increasing number of customers opting for e-commerce platforms to purchase these items. Consumers also explore a broad range of features, kinds, collections, materials, and price alternatives across a number of stores in less time and with just a few clicks when shopping for wall beds online.
- Online merchants are also incorporating offers such as free delivery and free products with purchases of a specific value into the mix, which is attracting more shoppers to the online platforms. Over the projection period, the growing dominance of e-commerce will drive greater demand for wall beds.
US Wall Beds Industry Overview
The United States wall beds market is a fragmented market. The United States wall bed market has witnessed significant growth in recent years, which is driven by the rising demand for space-saving furniture solutions in residential and commercial spaces. Manufacturers in the United States are developing innovative wall beds to attract clients and improve sales. Some of the major market players engaged in the United States wall bed market are SICO, FlyingBeds International, Inovabeds, The Bedder Way Company, and Twin Cities Closet Company.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Customizing of Wall Beds are Driving the Market
4.3 Market Restraints
4.3.1 Availability of Alternatives
4.4 Market Opportunities
4.4.1 Technological Advancements in the Wall Beds Market
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porters' Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitutes
4.6.5 Intensity of Competitive Rivalry
4.7 Insights on Technology Innovation in the Market.
4.8 Impact of COVID-19 on the Market
5 MARKET SEGMENTATION
5.1 By Material
5.1.1 Wood
5.1.2 Metal
5.1.3 Other Materials
5.2 By Capacity
5.2.1 King Size
5.2.2 Queen Size
5.2.3 Other Sizes
5.3 By Distribution Channel
5.3.1 Multi brands store
5.3.2 Speciality Store
5.3.3 Online
5.3.4 Other Distribution Channels
6 COMPETITIVE LANDSCAPE
6.1 Market Concetration Overview
6.2 Company Profiles
6.2.1 SICO
6.2.2 FlyingBeds International
6.2.3 Wilding Wallbeds
6.2.4 The Bedder Way company
6.2.5 Twin Cities Closet company
6.2.6 Wall Beds Manufacturing
6.2.7 Clei, Lawrence
6.2.8 Hookers Furniture
6.2.9 Furnico Living
6.2.10 Flagstaff Custom Beds*
7 MARKET FUTURE TRENDS
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