by Portable beds provide various advantages like easy assembly and dismantling, compact size for storage, and versatility of usage in multiple rooms. They come in a wide range of styles including folding beds, roll-away beds, sofa beds, and murphy beds.
The Global Portable Beds Market is estimated to be valued at US$ 8.13 Bn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period from 2024 to 2031.
Key Takeaways
Key players operating in the Portable Beds market are Nilkamal Furniture, Shree Rupnath Enterprises, SEDAC, The Bedder Way Co., Murphy Wall Beds Hardware, Coleman, SICO Inc., Clei, FlyingBeds International., Jay-Be, Mattison Contract Beds, The London Wallbed Company, Avensis Furniture, Better Bed Company, Godrej Interio, Zeketrolleys, and The Elite Land General Trading. The growing demand for portable beds from hotels, rental accommodations, and homes has propelled the market growth. The increasing trend of nuclear families and small living spaces has further fueled the demand. Moreover, the market has witnessed expansion in regions with growing hospitality and travel & tourism industries like North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Market Key Trends
One of the key trends witnessed in the Portable Beds Market Demand is the increasing adoption of multifunctional beds. Manufacturers are developing innovative beds that serve dual or multiple purposes like sofa beds, murphy beds, and sofa cum bed models. This provides enhanced space efficiency. Moreover, there is a rising popularity of portable beds made from sustainable and eco-friendly materials like recycled wood, recycled steel, and organic cotton fillings. This is driven by the growing focus on green building and furniture. Enhanced product features in terms of durability, ergonomics and aesthetic designs by major players is also boosting the market demand. Innovation through new technologies and smart functions will be a defining trend that further propels the portable beds market growth.
Porter’s Analysis
Threat of new entrants: New entrants face high threat from existing players as portable bed market is competitive. Existing players have established brand names, distribution networks and strategic alliances.
Bargaining power of buyers: Buyers have high bargaining power due to availability of substitutes and undifferentiated products. They can negotiate on price easily.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitutes of raw materials. However, differentiated technology gives them some power over buyers.
Threat of new substitutes: Substitute threat is moderate as portable beds provide convenience of storage and space saving feature.
Competitive rivalry: Rivalry is high among existing players due to availability of similar products. Players compete on pricing, branding, quality and innovation.
Geographical regions: North America accounted for largest share in portable bed market in terms of value in 2024 due to high consumer preference for portable beds for guests and space saving. Asia Pacific is fastest growing region due to increasing disposable income, urbanization and changing lifestyle in countries like India and China.
Geographical regions: North America accounted for largest share in portable bed market in terms of value in 2024 due to high consumer preference for portable beds for guests and space saving. Countries like US and Canada are major markets. Asia Pacific is fastest growing region due to increasing disposable income, rapid urbanization and changing lifestyle in countries like India, China, Japan and South Korea. Players are expanding in Asia to tap market potential.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
Ravina Pandya, a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals.
