About Folding Sofas
Folding Sofas can be folded into a structure that consequences in much less use of space. It is being in particular favored in homes with much less space. It can be folded when now not in use and will become practical when required simply like any different kind of furniture. Folding sofas that is made of timber or comparable cloth is being broadly favored due to its durability. In business spaces, sofas performs a necessary function in seating arrangements. Depending on cease use, furnishings designs can be modified via machine-based procedures and handcrafting. Rise in wide variety of small-size homes has prompted multi-functional furniture, which has facilitated for more storage. It was once discovered that there is growing utilization of more domestic areas for a workplace which has led to a demand for workplace furniture.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 5.9% |
The market is seeing moderate market players, by seeing huge growth in this market the key leading vendors are highly focusing towards the production technologies, efficiency enhancement and product life. There is various growth opportunity in this market which is captured by leading players via tracking the ongoing process enhancement and huge invest in market growth strategies. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Folding Sofas market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Milliard (United States), Serta (United States), Sleeplace (United States), Merax (United States), Fun Furnishings (United States), Best Choice Products (United States) and MAXDIVANI (Italy) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Folding Sofas market by , Application (Residential and Commercial) and Region.
On the basis of geography, the market of Folding Sofas has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Offline will boost the Folding Sofas market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Material, the sub-segment i.e. Leather will boost the Folding Sofas market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Usage of Folding at Commercial Spaces Such As Offices, Educational Institutes, and Healthcare Facilities Is Likely Propelling the Market Growth
Market Growth Drivers:
Usage of Folding Sofas Helps to Improve the Aesthetic Appeal of the Home or Commercial Space and Growing Preference for Folding Sofas That Can Be Used As the Bed Is Driving the Product Demand
Challenges:
Better Transportation Facilities and Infrastructure Facilities
Restraints:
Increase in Raw Material Prices and Scarcity of Skilled Labor
Opportunities:
Innovative Sofas Designs and Growth in E-commerce Sector
Market Leaders and their expansionary development strategies
In May 2023, Resource Furniture has unveiled the motorised Tonale sofa wall bed and the LGM 2.0 revolving wall bed as its latest space-maximising furniture designs. The wall beds form part of Resource Furniture's collection of transforming and multifunctional pieces designed to make the best use of space.
In June 2023, Ikea’s independent design research lab Space10 launches ‘Couch in an Envelope’, a new project that aims at reimagining the sofa as a flat-packed, modular, and light furniture piece. Designed in collaboration with Swiss studio Panter&Tourron and involving AI in the process, the new small sofa concept follows the concerns of modern living, from space-saving to circularity.
Key Target Audience
Folding Sofas Distributors, Folding Sofas Suppliers, Logistics Organizations, Government Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.