Market Size of North America Wall Beds Industry
Study Period | 2020 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2020 - 2022 |
CAGR | 6.00 % |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
North America Wall Beds Market Analysis
The North America wall beds market has generated revenue of USD 560.12 million in the current year and is poised to achieve a CAGR of more than 6% for the forecast period.
- The North American wall beds are also known as the Murphy wall beds. Murphy beds are supported by frames composed of materials such as wood and steel. These beds are becoming popular in North America as a result of their space-saving function, which allows a bedroom to double as a living area. The growth of the wall bed industry is being fueled by an increase in the use of beds and the purchase of studio flats.
- During the initial stage of COVID-19, due to supply chain disruptions, the market experienced losses due to stoppage in manufacturing and distribution services. Later, due to lockdowns and work-from-home culture, the demand for wall beds rose. Post-COVID, the market is experiencing gradual growth according to seasonal demand fluctuations.
- The rising population and widespread co-living concept are anticipated to propel the growth of the North American wall bed market. Moreover, the increased standard of living and awareness of home decor has propelled the growth of the wall bed market. This has increased the demand for wall beds due to confined spaces and the multipurpose use of these wall beds. The growing use in the construction of studio apartments is expected to bring opportunities for the North American wall bed market.
North America Wall Beds Industry Segmentation
A wall bed is a bed that is hinged at one end to store vertically against the wall or inside a closet or cabinet. Murphy beds are considered multifunctional furniture.
North America wall beds market is segmented by material (wood, metal, and other materials), by size (king size, queen size, other sizes), by distribution channel (multiband stores, specialty stores, online and other distribution channels), and by geography (US, Canada, and Rest of North America).
The report offers market size and forecasts in value (USD) for all the above segments.
By Material | |
Wood | |
Metal | |
Other Materials |
By Capacity | |
King Size | |
Queen Size | |
Other Sizes |
By Operation | |
Manual | |
Automatic | |
Hybrid |
By Distribution Channel | |
Multi brands store | |
Speciality Store | |
Online | |
Other Distribution Channels |
By Geography | |
US | |
Canada | |
Rest of North America |
North America Wall Beds Market Size Summary
The North American wall beds market, also known as Murphy beds, is experiencing notable growth driven by the increasing demand for space-saving furniture solutions. These beds, supported by wooden and steel frames, are gaining popularity due to their ability to transform a bedroom into a living area, making them ideal for urban environments where space is at a premium. The market's expansion is further fueled by the rising population, the trend towards co-living, and the growing construction of studio apartments. These factors necessitate innovative housing solutions that maximize limited space, thereby boosting the demand for wall beds. The market has shown resilience post-COVID, with a gradual recovery from initial disruptions and a rise in demand due to changing lifestyle patterns such as remote work.
The North American wall bed market is characterized by its fragmented nature, with several key players actively developing innovative products to capture market share. Companies like SICO Incorporated, Wilding Wallbeds, and Zoom Room Inc. are at the forefront, leveraging strategic partnerships and acquisitions to enhance their market presence. The market's growth is also supported by the increasing awareness of home decor and the multifunctional use of wall beds in residential and commercial spaces. As urbanization continues to drive housing demand, the market is poised for further expansion, offering opportunities for manufacturers to cater to the evolving needs of consumers seeking efficient and stylish living solutions.
North America Wall Beds Market Size - Table of Contents
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1. MARKET DYNAMICS AND INSIGHTS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Customizing of Wall Beds are Driving the Market
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1.3 Market Restraints
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1.3.1 Availability of Alternatives
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1.4 Market Opportunities
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1.4.1 Technological Advancements in Wall Beds Market
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1.5 Industry Value Chain Analysis
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1.6 Industry Attractiveness - Porters' Five Forces Analysis
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1.6.1 Threat of New Entrants
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1.6.2 Bargaining Power of Buyers
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1.6.3 Bargaining Power of Suppliers
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1.6.4 Threat of Substitutes
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1.6.5 Intensity of Competitive Rivalry
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1.7 Insights on Technology Innovation in the Market.
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1.8 Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Material
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2.1.1 Wood
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2.1.2 Metal
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2.1.3 Other Materials
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2.2 By Capacity
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2.2.1 King Size
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2.2.2 Queen Size
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2.2.3 Other Sizes
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2.3 By Operation
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2.3.1 Manual
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2.3.2 Automatic
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2.3.3 Hybrid
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2.4 By Distribution Channel
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2.4.1 Multi brands store
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2.4.2 Speciality Store
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2.4.3 Online
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2.4.4 Other Distribution Channels
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2.5 By Geography
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2.5.1 US
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2.5.2 Canada
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2.5.3 Rest of North America
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North America Wall Beds Market Size FAQs
What is the current North America Wall Beds Market size?
The North America Wall Beds Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in North America Wall Beds Market?
SICO , Wilding Wallbeds, Wall Beds Manufacturing, Zoom Room Inc and B.O.F.F. Wall Beds are the major companies operating in the North America Wall Beds Market.