Wall Bed Market Report

Market Insights

The Global Wall Bed Market is estimated to grow from USD 2.5 billion in 2020 to USD 3.5 billion by 2026 at a healthy CAGR of 6.2% during the forecast period.

Figure: Global Wall Bed Market Size, 2020-2026 (USD Billion)

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What is a Wall bed?

A wall bed, also known as a pull-down bed or fold-down bed is a bed that can be folded vertically against a wall or inside a cabinet or closet. Wall beds are an excellent choice for a guest room, studio, or other multifunctional spaces. Wall bed usually comprises a sturdy metal frame and spring mattress.

Key Players

Key players operating in the global wall bed market are-

• Murphy Wall Beds Hardware Inc. (Canada),
• SICO Incorporated (The U.S),
• FlyingBeds International (The U.S),
• The London Wallbed Company (UK),
• Wilding Wallbeds (The U.S),
• Spaceman (Singapore),
• The Bedder Way Company (The U.S),
• Bestar Inc (Canada),
• Twin Cities Closet Company (The U.S),
• Boff Wall Beds (Canada),
• Wall Beds Manufacturing (The U.S), and
• Clei, Lawrance (The U.S).

Market Dynamics

Growing demand for multi-purpose and space-saving furniture is driving the growth of the global wall bed market.

• An increasing number of compact houses is likely to boost the product demand.
• The shift in trend towards small-size apartments due to the rising populace and growing urbanization is expected to propel market growth.
• Additionally, an increase in several nuclear families is likely to fuel the demand for multifunctional furniture products and thus, wall beds.
• Furthermore, increased spending on R&D activities to introduce more innovative and technology-equipped products is likely to create lucrative opportunities for the market players.

Segment Analysis

Application Trends

Based on end-user, the wall bed market has been divided into residential and commercial.

• The residential segment accounted for the largest share in 2020 and is projected to grow at a significant CAGR during the review period with increasing residential construction across geographies.
• Increasing usage of wall beds at commercial spaces such as offices and healthcare facilities is likely to propel the market growth.

Regional Trends

The market in North America accounted for the largest share in 2020 due to increasing preference for one- or two-person households in the US and high demand for advanced products. The market in Asia-Pacific is projected to register healthy CAGR during the review period. This can be attributed to the growing demand for space-saving furnishing products. The market growth in the Asia-Pacific region is primarily driven by high product demand in countries such as India, Japan, and Hong Kong coupled with the increasing purchasing power of the consumers.

COVID-19 Impact on Global Wall bed market

The market growth was affected when the governments across geographies-imposed lockdown as it resulted in trade restriction and supply chain disruptions. Many market players had to shut their production spaces and various construction projects were cancelled, which affected the market growth. However, with the lift of lockdown, the demand for wall beds is likely to gain pace.

Critical Questions Answered in the report-

• What are the key trends in the global wall bed market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?
• What is the impact of COVID-19 on global wall bed market?
• What are the key strategies adopted by the major vendors to lead in the global wall bed market?
• What is the market share of the top vendors?

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Target Audience

The following is a list of the customers that the Wall-bed market aims to convert the most:

• Wall bed distributors
• Wall bed suppliers
• Wall bed manufacturers
• Logistics organizations
• Government Bodies

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