The wall bed market presents innovative solutions for space-conscious consumers. Wall beds, also known as Murphy beds, offer numerous benefits, including efficient space utilization, especially in smaller living spaces or multipurpose rooms. They enable the transformation of a bedroom into a living area seamlessly, enhancing the room's functionality. The dominating segment within this market is the vertical wall bed, prized for its ease of use and space-saving attributes. However, horizontal wall beds are gaining traction due to their stylish design and suitability for rooms with limited ceiling height, showcasing the market's versatility.
According to Data Bridge Market Research, the North America Wall Bed Market is growing at a CAGR of 3.7% in the forecast period of 2022 to 2029 and is expected to reach USD 1,51,328.66 thousand by 2029.
“Rising global population boost the market’s growth”
The rising global population serves as a significant driver for the wall bed market. As urbanization increases and living spaces become more compact, there is a growing need for space-saving furniture solutions. Wall beds offer an efficient way to maximize living space, making them an attractive choice for urban dwellers and those seeking to optimize their living arrangements. This demographic trend is fueling demand for wall beds as an essential solution to address space constraints in modern urban living.
What restraints the growth of the North America wall bed market?
“Limited suitability for renter restraints the market’s growth”
A significant restraint in the wall bed market is their limited suitability for renters. Wall beds typically require installation involving wall mounting, which can be impractical for those living in rental properties with restrictions on structural alterations. Renters often prefer furniture that is easily movable and adaptable to different spaces. This limitation narrows the potential customer base for wall beds, as they may not be a viable choice for a significant portion of the population living in rented accommodations.
Segmentation: North America Wall Bed Market
The North America wall bed market is segmented on the basis of operation, type, distribution channel, and end use.
- On the basis of operation, the North America wall bed market is segmented into automatic and manual.
- On the basis of type, the North America wall bed market is segmented into a single bed and double bed.
- On the basis of distribution channel, the North America wall bed market is segmented into online and offline.
- On the basis of end use, the North America wall bed market is segmented into residential and non-residential.
Regional Insights: U.S. is expected to dominate the North America Wall Bed Market
The United States is expected to dominate the North America wall bed market owing to its robust demand from residential customers. As more homeowners seek innovative space-saving solutions, the U.S. market benefits from a substantial and sustained interest in wall beds. This heightened demand positions the U.S. as a dominant player, shaping the growth and direction of the North American wall bed market.
Canada's increasing standard of living and heightened appreciation for home decor are key drivers behind its dominance in the North American wall bed market. These factors fuel demand for stylish and space-saving furniture, making Canada a pivotal market player.
Mexico's leading position in the North American wall bed market is attributed to an enhanced standard of living, rising disposable income levels, and rapid urbanization. These factors collectively drive demand for space-saving and stylish home furnishings, solidifying Mexico's dominance.
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Recent Developments
- In January 2020, Bestar Modern Home and Office Furniture revealed a strategic private equity partnership with MB Capital. This collaboration has played a pivotal role in the company's business expansion efforts.
- In January 2020, Bestar Modern Home and Office Furniture successfully acquired Bush Industries, a prominent American manufacturer specializing in case goods and RTA (Ready-to-Assemble) furniture designed for both office and home use. This acquisition has significantly enhanced the company's ability to attract a broader customer base.
The Prominent Key Players Operating in the North America Wall Bed Market Include:
- ICO Incorporated (U.S.)
- Wilding Wallbeds (U.S.)
- Wall Beds Manufacturing, Inc. (U.S.)
- Zoom Room Inc (U.S.)
- B.O.F.F. Wall Beds (Canada)
- Twin Cities Closet Company (U.S.)
- Wallbeds "n" more (U.S.)
- Wallbeds & Closets North West (U.S.)
- Bestar Modern Home and Office Furniture (Canada)
- The Bedder Way Co. (U.S.)
- Murphy Wall Beds Hardware Inc. (U.S.)
- Modern Furniture and Interior Design (Canada)
- Superior Wall Beds (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of North America wall bed market companies contact, https://www.databridgemarketresearch.com/ru/contact
Research Methodology: North America Wall Bed Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
