ID: MRFR/CR/0576-HCR | February 2021 | Region: Global | 110 pages
The growing hospitality industry with hotels, motels, and inns equipped with modern amenities are expected to drive the global market growth during the forecast period. Moreover, advancements in the furniture industry and a shift towards convenient products that occupy minimal space are further aiding to the global wall beds market growth. However, wall beds require installation on the walls and are not convenient for people residing in rental homes or on a temporary basis. Additionally, the high cost of wall beds as compared to conventional beds is expected to be a major factor hindering the growth of the global market during the forecast period.
The global wall bed market has been segmented based on bed size, category, end use, and region.
The global wall bed market has been classified, based on bed size, into single and double.
The global wall bed market has been bifurcated, based on category, into manual and automated.
The global wall bed market has been divided, based on end use, into residential and commercial.
The global wall bed market has been analyzed for four key regions—North America, Europe, Asia-Pacific, and the rest of the world. The North American wall bed market has further been segmented into the US, Canada, and Mexico.
The European wall bed market has been classified into the UK, Germany, France, Italy, Spain, and the rest of Europe.
The wall bed market in Asia-Pacific has been segmented into China, India, Japan, Australia & New Zealand, and the rest of Asia-Pacific. The wall bed market in the rest of the world has been segmented into South America, the Middle East, and Africa.
Regional Market Summary
Global Wall Bed Market Share (%), by Region, 2018
Source: Secondary Sources and MRFR Analysis
Globally, wall bed market in North America is anticipated to be the dominating market with a market share of 48.53% in 2018 and maintain its dominance by registering the highest growth rate during the forecast period. The growing expat population in the US and Canada and the increasing demand for innovative furniture with ready-to-assemble features are driving the market growth in North America. Furthermore, the growing hospitality sector with hotels, motels, and inns offering advanced services including smart furniture to cross-promote other amenities are expected to aid in the regional market growth during the forecast period.
Global Wall Bed Market, by Bed Size
Global Wall Bed Market, by Category
Global Wall Bed Market, by End Use
Global Wall Bed Market, by Region
Frequently Asked Questions (FAQ) :
Wall bed market is projected to grow at a 6.2% CAGR between 2019-2024.
North America is expected to dominate the wall bed market.
Wall bed market is predicted to touch USD 3.1 billion by 2024.
Growing hospitality industry and advancements in the furniture industry are the key factors driving the wall bed market.
High cost may limit the wall bed market growth.