Enjoy complimentary customisation on priority with our Enterprise License!
The wall beds market size is forecast to increase by USD 1.17 billion at a CAGR of 6.8% between 2023 and 2028. The wall beds market is experiencing significant growth due to the increasing demand for space-saving home furniture and the rising preference for eco-friendly solutions. With the trend towards sustainable living, there is a wave in the demand for eco-friendly materials made from plant-based materials and recycled fibers. Home renovations and remodeling projects are driving the market, as homeowners seek innovative storage solutions. Online shopping and e-commerce platforms are also contributing to the market's growth, making it easier for consumers to access a wide range of wall bed options. However, the market faces challenges from high competition from unorganized players and a low product replacement cycle. Despite these challenges, the future looks promising for the market as consumers continue to prioritize environmental protection and eco-friendly furniture solutions.
The wall beds market is experiencing significant growth due to the increasing trend of vertical storage and space optimization in apartments and small homes. With urbanization on the rise and limited square footage becoming a major concern, wall beds, also known as Murphy beds, have emerged as a popular solution for space-conscious residences. These offer a unique blend of functionality and style, transforming living spaces into multifunctional areas. These innovative furniture designs provide sleeping solutions while also offering integrated storage solutions, making them an ideal choice for urban dwellers. The demand is not limited to apartments alone. With the rise of micro living and non-traditional furniture trends, wall beds have found their place in small homes and residences as well. The market expansion is driven by the growing middle class in emerging countries, who are looking for affordable yet efficient living solutions.
The integration of automatic mechanisms, remote control, and minimalist design has added to their appeal. These features make a desirable option for home offices and other living spaces, where space optimization is crucial. Construction of new buildings and renovation of existing ones have also contributed to the growth of the wall bed market. Builders and architects are increasingly incorporating wall beds into their designs to cater to the needs of urban residents. The market is not just limited to residential applications. These space-saving solutions have also found their place in commercial spaces, such as hostels, dormitories, and student housing. In conclusion, the wall bed market is poised for growth, driven by the need for space optimization in urban living. With innovative designs, integrated storage solutions, and advanced features, wall beds offer a practical and stylish solution for those living in limited space. The future looks bright, as they continue to gain popularity as a must-have furniture item for modern residences and commercial spaces.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The offline segment is estimated to witness significant growth during the forecast period. Wall beds, also known as Murphy beds or folding beds, have gained significant popularity due to innovative furniture designs that offer vertical storage solutions. With increasing space concerns in apartments and small homes, wall beds have become a preferred choice for residences.
Get a glance at the market share of various segments Download the PDF Sample
The offline segment accounted for USD 2.28 billion in 2018 and showed a gradual increase during the forecast period. The global market is expected to grow steadily during the forecast period, with offline distribution channels accounting for the largest share. These channels include brick-and-mortar stores, such as specialty stores, hypermarkets and supermarkets, departmental stores, and convenience stores. Customers continue to prefer buying wall bed products through offline channels due to the reliability, ability to physically inspect products, and the opportunity to experience the touch-and-feel factor. Physical retail stores remain trusted sources for both developed and developing markets.
For more insights on the market share of various regions Download PDF Sample now!
North America is estimated to contribute 32% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The wall beds market in North America is experiencing significant growth due to the increasing trend towards micro living and non-traditional furniture solutions. With the adoption of smart integration and technology, automatic mechanisms, remote control, and hinged beds have become popular choices for residential purposes. The vertical storage is an efficient space-saving solution, especially in urban areas with limited living spaces. The market's expansion is fueled by the rising demand from the millennial population in countries such as the United States and Canada. Additionally, the growth in the real estate market and the increasing popularity of co-living trends further contribute to the market's expansion. Wall beds offer a modern and functional alternative to traditional furniture, making them an attractive option for consumers seeking to maximize their living space.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increased demand for space-saving home furniture is notably driving market growth. The wall beds market is experiencing significant growth due to the increasing demand for space-efficient furniture solutions, particularly in commercial settings such as offices, classrooms, gyms, and relaxation zones. With the trend of smaller workspaces and multi-functional spaces on the rise, vertical space utilization has become a priority. Wall beds, as a space-saving alternative, offer a practical solution by combining a bed and storage unit into one compact design. The demand for wall beds is particularly high in urban and metropolitan areas, where residential units and apartments have become smaller.
Furthermore, the popularity of studio apartments in countries like the US and the UK is driving the adoption of wall beds in these markets. Wall beds are an excellent investment for businesses and individuals looking to maximize their space while maintaining comfort and functionality. Thus, such factors are driving the growth of the market during the forecast period.
An increase in demand for eco-friendly wall beds is the key trend in the market. The wall beds market is witnessing significant growth due to the increasing preference for space-saving furniture solutions. One trend gaining traction in this sector is the development of eco-friendly automatic wall beds. These beds offer both functionality and sustainability, making them an attractive option for consumers. Many companies, such as Flybed Home, are introducing eco-series wall beds with lightweight and durable designs. The global trend towards environmental consciousness is driving demand for eco-friendly home furniture, including wall beds. Manufacturers are responding by using plant-based fibers and recycled raw materials in their production processes.
Additionally, technological advancements like wall-mounted controls, hydraulic systems, and compatibility with Android devices are enhancing the user experience. Furthermore, the integration of artificial intelligence, augmented reality, and virtual reality technologies is expected to revolutionize the wall beds market in the future. With growing internet penetration, consumers can easily access product information and make informed purchasing decisions. Thus, such trends will shape the growth of the market during the forecast period.
High competition from unorganized players and a low product replacement cycle is the major challenge that affects the growth of the market. The market caters to the growing demand for eco-friendly furniture solutions, with an increasing focus on environmental protection. companies in this market offer products made from plant-based materials and recycled fibers, appealing to consumers seeking sustainable home renovations and remodeling projects. Online shopping and e-commerce platforms have made it easier for consumers to purchase wall beds, providing a wide range of options from various companies. Competition in the market is fierce, with both organized and unorganized players vying for market share.
Further, organized players, including small companies and large corporations, differentiate themselves from unregistered competitors through brand recognition and pricing. These companies compete on factors such as product design, brand reputation, and customer services to attract and retain customers. The market is diverse, with offerings ranging from simple storage cupboards to intricately designed beds that fold away when not in use. Hence, the above factors will impede the growth of the market during the forecast period
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market forecast report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
BESTAR Inc.: The company offers wall beds such as Queen Murphy bed with closet storage organizers, 60W Full Murphy bed, and Queen Murphy Bed with 2 closet organizers and drawers.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
In the contemporary residential and commercial landscape, the demand for innovative furniture designs that cater to space concerns has flooded. Foldable and Murphy beds have emerged as popular solutions for urban dwellers, particularly in apartments and small homes. These offer vertical storage and smart integration, making them ideal for residences with housing space limitations. The consumer trend towards minimalist design and eco-friendly furniture has fueled the market expansion. With the rise of micro living and non-traditional furniture, these beds have become a staple in multi-functional spaces, such as home offices, classrooms, gyms, and relaxation zones. The integration of technology, including automatic mechanisms, remote control, and hinged beds, has added to the appeal. The vertical storage of these beds optimizes space efficiency and enhances comfort, making them a smart choice for those seeking to maximize their living spaces. The market is not limited to residential purposes. Commercial establishments, such as offices, have also embraced the benefits of these beds, which offer comfort and environmental protection through the use of plant-based materials and recycled fibers.
Additionally, the construction industry has responded to this consumer trend by offering integrated storage solutions, operating systems, and wall-mounted controls for automatic wall beds. The use of android devices, hydraulic systems, and internet penetration has further enhanced the functionality and convenience. The growth of the middle class in emerging countries and the increasing popularity of home renovations and remodeling have contributed to the expansion of market. Online shopping and e-commerce platforms have made it easier for consumers to access these space-saving solutions. In conclusion, the market is driven by the need for space optimization, comfort, and innovative design in both residential and commercial settings. The integration of technology and eco-friendly materials has added to their appeal, making a smart and sustainable choice for modern living.
Market Scope |
|
Report Coverage |
Details |
Page number |
155 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.8% |
Market Growth 2024-2028 |
USD 1.17 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.2 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 32% |
Key countries |
US, China, UK, Germany, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
9too5 Murphybed, BESTAR Inc., BOFF, BredaBeds, Clei Srl, Flybed Home, Furl, HS Enterprises, Mahavir Steel and Wooden Furniture, Murphy Beds of San Diego, Murphy Wall Beds Hardware Inc., Ribbonic wallbed, SICO Inc., Spaceman Innovations Pte Ltd., The Bedder Way Co., The London Wallbed Co., Twin Cities Closet Co., Wall Beds Manufacturing Inc., Wallbeds Co., and Wilding Wallbeds |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Get the report (PDF) sent to your email within minutes.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.