North America Wall Beds - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029

North America Wall Beds - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029

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.

Key Highlights

• 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 Market Trends

Rising Population and Widespread Concept of Co-Living

• The housing market in North America has undergone significant changes in recent years, driven by evolving needs, preferences, and various factors. Rapid urbanization has increased the demand for housing in cities and urban areas. People are attracted to urban environments for job opportunities, amenities, and convenience.
• As a result, the demand for housing in cities has surged, creating a need for innovative housing solutions like wall beds. Co-living is a modern housing concept that brings together individuals or small groups to live together in shared spaces.
• Co-living startups are emerging as a popular trend in the real estate industry in North America. Thus rising population and the widespread concept of co-living are expected to propel the growth of the North American wall bed market.

Raise of Residential Construction

• The rising population and the expanding notion of nuclear households have propelled the North American wall bed market. As the population shifts from rural to urban regions, room sizes shrink, necessitating the use of wall beds.
• Another reason that boosts the use of wall beds is the rise in studio apartment buildings in North America. Studio apartment dwellers are limited in terms of space and storage. Wall beds make it possible to transform a living area into a bedroom or vice versa.
• Another factor driving up demand for wall beds is by use of these products as home decor. House furnishing businesses utilize wall beds to create invisible beds in the room.

North America Wall Beds Industry Overview

The North American wall bed market is a fragmented industry that has witnessed significant growth in recent years, driven by the rising demand for space-saving furniture solutions in residential and commercial spaces. Manufacturers in North America are developing innovative wall beds to attract clients and improve sales. Some of the major market players engaged in the North American wall bed market are SICO Incorporated, Wilding Wallbeds, Wall Beds Manufacturing, Inc., Zoom Room Inc, and B.O.F.F. Wall Beds,

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