Portable Beds Market Driven by Increasing Usage in Tourism Sector

Portable Beds Market Driven by Increasing Usage in Tourism Sector

They offer flexibility of use in small spaces and ease of storage when not in use. The portable bed provides comfort of a full-sized bed without taking up large space like regular beds. These beds consist of lightweight frames and foldable mattresses enabling compact storage. 
 
The global portable beds market is estimated to be valued at US$ 5.23 Bn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period 2024 to 2031.

Growing tourism activity around the world has boosted the demand for portable beds from hotels, guesthouses, and homeowners providing rooms for rent. Their space-saving feature makes them suitable for limited floor areas in hotels, hostels, and vacation rentals. 
 
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 ContractBeds, The London Wallbed Company, Avensis Furniture, Better BedCompany, Godrej Interio, Zeketrolleys, and The Elite Land General Trading. 
 
 The tourism industry has been witnessing a steady rise globally with increasing disposable incomes and growing international travel. This has stimulated the demand for portable beds from hotels and guesthouses catering to tourist accommodations. Their flexible and space-saving design allows utilization of available room area efficiently.
 
 The Portable Beds Market Size is expanding globally with the widespread promotion of tourism in different regions. Manufacturers are focusing on developing portable bed models optimized for tourism applications as well as residential rental spaces. Countries in Asia Pacific and Latin America are emerging as profitable markets due to robust tourism industry growth.
 
 Market Key Trends
 
 One of the key trends gaining traction in the portable beds market is the growing popularity of multifunctional models. Manufacturers are innovating beds with versatile functionality beyond basic sleeping. Some portable bed models double up as sofas during the day to optimize available floor space. Models with integrated storage units allow utilizing the under-bed space efficiently. Foldable frames and lightweight construction are enabling easy portability of multifunctional beds. The trend is driven by the increasing demand for optimized utility of rooms especially in the tourism industry.

Porter’s Analysis
 Threat of new entrants: New entrants face high upfront investment and manufacturing costs in the portable beds market. Bargaining power of buyers: Customers have moderate bargaining power as there are many producers of portable beds in the market to choose from. However, established brand loyalty for certain key players provides some bargaining power to suppliers. 
 
 Bargaining power of suppliers: A few key raw material suppliers for portable beds have some bargaining power due to differentiation in raw materials that provide quality and comfort. However, availability of substitutes balances suppliers’ power to some extent. 
 
 Threat of new substitutes: Substitute products like folding beds, pull-out couches and sofa beds pose minimal threat due to functional differences from portable beds. 
 
 Competitive rivalry: Intense competition among key global players drives continuous innovation in product design, materials and technology.
 
North America
 North America holds the largest share in the portable beds market mainly due to high consumer spending and increasing space constraints in homes. The US dominates demand driven by growing adoption of portable beds for residential use especially among young home owners and city dwellers.
 
 Asia Pacific 
 Asia Pacific is expected to grow the fastest due to rising disposable income, urbanization and changing lifestyles in countries like India and China. Increasing number of nuclear families and dual income households are driving demand for space saving furniture like portable beds in Asia Pacific.

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Ravina Pandya, 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, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)