Folding Beds Market Size, Share, Growth, and Industry Analysis, By Type (Single wall bed and Double Wall Bed), By Application (Residential and Non-Residential) and Regional Forecast to 2032

Updated On: 26 August 2024

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FOLDING BEDS MARKET REPORT OVERVIEW

The Folding Beds Market Size is Projected to be worth US$ 1526.1 million in 2023. The market is likely to surpass US$ 2117.18 Million by 2032 at a CAGR of 4.1% During the Forecast period [2024-2032].

The folding bed market is a network of markets that provides an alternative option for permanent beds. It is easily transported, can be moved around, and used as per convenience. They are an ideal substitute for conventional mattresses due to their multipurpose nature and capacity to save space. Because of the rapid expansion of urbanized housing, there is an increased demand for these beds among the tenants. Such beds are available in hotels, hospitals, and more. With the space constraint, it is the best option and hence, the market has been rapidly in demand.

COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden growth reflected by the rise in CAGR is attributable to market growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic threw a wrench into the gears of market growth, putting a damper on the folding beds market. The onset of the pandemic led to the closure of all convenience stores, which limited the demand and supply of folding beds in the market. A replenished supply of raw materials, limited work availability, and logistical challenges have made the folding bed production process an impediment for businesses.

LATEST TRENDS

"Folding beds market is anticipated to expand further as a result of investments made in the healthcare industry."

With more investments in the healthcare industry will lead to more setting up of healthcare institutions and hospitals. This will lead to more demand for folding beds in hospitals. They are more convenient to move around with patients.

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FOLDING BEDS MARKET SEGMENTATION

By Type

Based on type the market can be categorized into Single Wall Bed and Double Wall Bed.

• Single Wall Bed: When not in use, a single wall bed, sometimes referred to as a Murphy bed, can be folded up against the wall, offering utility without taking up any additional floor space.

• Double Wall Bed: a double wall bed is a furniture piece that saves room by folding vertically against a wall when not in use. It usually fits a double-sized mattress and uses available living space well.

By Application

Based on application the market can be categorized into Residential and Non-Residential

• Residential: In residential, folding beds are used to save space while living in constrained urban spaces. For instance, they are used in housing complexes which can be of 1BHK or in cheap rent flats.

• Non-Residential: In the non-residential, folding beds are used in locations that do not fold under any residential block. For instance, in hospitals, hotels, and many more.

DRIVING FACTORS

"Growth in Building Construction Drives Market Advancement"

One of the key driving factors in the folding beds market growth is the growth in buildings in the urban spaces which leads to drive in the market. This element serves as a driving force behind the advancement of market dynamics. With more housing complexes and buildings being built around different urban localities, the need for folding beds is also increasing with time. The demand for folding beds is driven by the rise in outdoor activities, the expansion of buildings with limited space, and the requirement for hospitals. Through increased investment, the goal is to promote corporate development in the healthcare sector.

"Economic Variations to Expand the Market"

The market for folding beds may expand quickly due to factors such as fast economic growth, disposable money, and restricted access to land. Due to their ease of mobility and ability to be single or double-walled, folding beds are becoming more and more popular as a result of the current trend towards space conservation.

RESTRAINING FACTOR

"Pricing Factor To Pose Potential Impediments to the Market Growth "

Despite folding beds being extremely in demand in order to save space, they, due to limited market growth, do not hold on against furniture companies and hence are not as strong as the permanent beds market.

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FOLDING BEDS MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

"North America to Dominate the Market Due to Favorable Regulatory Policies"

North America has emerged as the most dominant region in the folding beds market share due to a convergence of factors that propel its leadership in this dynamic industry. New innovation lies at the core of this dominance, with the region serving as a pioneering force in developing and adopting advanced distribution system technologies. North America stands out as a key player, setting the standard for efficient, technologically advanced, and environmentally conscious folding beds on the global stage.

KEY INDUSTRY PLAYERS

"Key Players Transforming the Folding Beds Landscape through Innovation and Global Strategy"

Major industry players are pivotal in shaping the folding beds market, driving change through a dual strategy of continuous innovation and a well-thought-out global presence. By consistently introducing inventive solutions and staying at the forefront of technological progress, these key players redefine the industry's standards. Simultaneously, their expansive global reach enables effective market penetration, addressing diverse needs across borders. The seamless blend of groundbreaking innovation and a strategic international footprint positions these players as not only market leaders but also as architects of transformative shifts within the dynamic domain of folding beds.

LIST OF MARKET PLAYERS PROFILED

• Wilding Wallbeds (U.S)
• SICO Inc. (UAE)
• The London Wallbed Company (U.K)
• The Bedder Way Co. (U.S)
• FlyingBeds International (U.S)

INDUSTRIAL DEVELOPMENT

There have been many new industrial developments in the folding beds market. New and innovative features like installation of USB ports, lightweight beds, easily movable, and many more. All these new features brought growth in the market of folding beds, and with that, there are also collaborations with many furniture companies to improve distribution as well as market reach.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.