Global Sofa Bed Market Overview:
A sofa bed which is often known as hide-a-bed, sleeper-sofa, bed-couch, or pullout sofa is normally a sofa or a couch wherein underneath its seating cushions there is a metal frame and a thin mattress which can be extended or opened up to create a bed. A western-styled futon differs from that of a sofa bed, although sofa beds that use futon mattresses are very common. Even though most the sofa beds usually use a queen short mattress that measures 60"x72", some other common sizes also include 58"x72", 52"x72", and 54"x72". An average sofa bed mattress has a thickness of around 4.5", therefore being almost half thick as that of a good standard mattress. The sofa mattresses can also be produced with the help of many different materials, but the majority on the market being that made of springs and foam. Some of the key players profiled in the study are IKEA (Netherlands), Natuzzi (Italy), Alstons (Upholstery) Limited (United Kingdom), Willow & Hall (United Kingdom), Downhole Products (United Kingdom), JAY-BE (United Kingdom), Stylus (United Kingdom), Sofa So Good (Australia), Shenzhen PG Century Furniture (China), Kiwi Bed & Sofas (New Zealand), Sofa Studio (Taiwan) and Forest Sofa (United Kingdom).
On the basis of geography, the market of Sofa Bed 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. Online will boost the Sofa Bed market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Mattress Size, the sub-segment i.e. 60"x72" will boost the Sofa Bed market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing the Trend of Guest Bedrooms
- Rising Demands in Metro Cities
Market Trend
- An increase in Consumer Spending on Home Improvement and Renovations
Restraints
- Fluctuating Raw Material Cost Coupled with Necessity to Enhance Supply Chain Visibility and Efficiency
Opportunities
- The Growing Need For Shifting And Settling Down Has Upsurge The Demand For Home Furniture
Challenges
- Increasing Competition from New Entrants in this Market
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies.
Target Audience:
Manufacturers of Sofa Bed, Suppliers and Distributors of Sofa Bed, End-Users, Potential Investors, Market Research Firms, Regulatory Bodies and Others
Major Objectives Focused through this Study
To define, describe, and forecast the Global Sofa Bed market on the basis of product [Product Type, Drawer Bed, Folding Bed and Other type] , application [Home, Office, Hotels and Others], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Sofa Bed market with respect to major geographies, namely, 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)
To strategically profile the key players and analyzing their market shares and core competencies in the Sofa Bed industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization:
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Vendors which are also part of the research are Rolex Furniture (India), Blank & Munk (Poland), Rowe Fine Furniture, Inc. (United States) and Poltronesofa (Italy).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Sofa Bed market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.