Industry Background:
Storage beds are the multipurpose furniture which is used as a bed and storage composite structures. These type of beds have been used to a larger extent nowadays due to lack of space availability. Moreover, increasing disposable incomes has also led to increased demand for home furnishing appliances. However, the lack of portability and increasing distribution overheads might stagnate the demand for storage beds. In addition to this, the home building construction industry has shown lucrative growth from the middle eastern and other developing countries which will ultimately improve the demand for storage beds.
According to AMA Research, the market for Storage Beds is expected to register a CAGR of 4.7% during the forecast period to 2030. This growth is primarily driven by Growing Demand for Household Furniture Across the Globe
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | K Units |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Home Furnishings sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Wilding Wallbeds (United States), Murphy Wall Beds Hardware Inc. (Canada), SICO Incorporated (Canada), Clever (Homes Casa) ( Italy), Flying Beds International (United States), San Diego Modern Furniture Company Inc. (United States), The London Wallbed Company (United Kingdom), Bedder Way Murphy Beds (United States), More Space Place Inc. (United States) and Lagrama (Spain), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In April 2023, Sleep Number Corporation announced the launch of its next-generation smart beds and Lifestyle Furniture. These products are designed to support the body's changing needs over time and include features like embedded, research-grade sensors and AI to learn the unique biometrics and sleep patterns of each sleeper.
In July 2021, Bedline entered the U.S. market with its line of storage platform beds, as announced. They offer a range of platform beds, headboards, and mattresses, highlighting the ongoing innovation in storage solutions within the bedroom furniture sector.The storage bed and the home furnishing industry has experienced a perfect competition across the developing economies due to the upsurging prevalence of local home furnishing service providers. Although, the market is dominated by some of the global market leaders. The emergence of the local players has led to an introduction to product differentiation from the market leaders to gain the competitive edge.
Influencing Trend:
Upsurging Demand for Hydraulic Storage Beds across the Globe and Introduction to Foldable and Portable Storage Beds
Market Growth Drivers:
Growing Demand for Household Furniture Across the Globe and Enables Hidden Storages and Helps in Household Space Management
Challenges:
Increasing Raw Material Prices might Stagnate the Demand and Limitation on the Use of Wooden Material in Home Furnishing
Restraints:
Covers Comparatively Larger House Area than other Comparative Substitutes and Upsurging Distribution Overheads across the Globe
Opportunities:
Upsurging Home Furnishing Activities across the Developing Economies and Increasing Disposable Incomes across the Global Population
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Storage Beds Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Storage Beds Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Storage Beds players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Storage Beds Study Sheds Light on
The Storage Beds Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Storage Beds industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Storage Beds industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.