Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Air Mattress market.
Trusted Business Insights presents an updated and Latest Study on Air Mattress Market 2019-2026. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Air Mattress market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Industry Insights, Market Size, CAGR, High-Level Analysis: Air Mattress Market
The global air mattress market size was valued at USD 127.6 million in 2018. Growing popularity of these products on account of their odor free nature, high durability, and ability to inflate in full size within minutes is expected to remain a favorable factor. Furthermore, these products eventually adjust the firmness that can provide benefits to people who are suffering from back pain and other bone joint related problems. Therefore, ability of these products to adjust the firmness in less time is expected to address the convenience of customers.
The full size products come with two separate inner chambers that can separate bed in two sides, one side can be firmer or softer than the other side depending on customer preference. Large number of consumers prefer to purchase this product as it is the only solution of sharing bed disputes. These mattresses are available in different sizes, which makes them convenient for indoor as well as outdoor usage.
It has been observed that consumers across developed economies including U.S., U.K., Germany, and France prefer to use twin sized low profile variants in their outdoor camping. These products can be easily rolled and left aside as a guest bed for the visitors in houses. Furthermore, some consumers prefer to use air mattress to lay them across their back seats during road trips.
Air mattresses have the ability to help in ensuring the pressure relief and better blood circulation to the person sleeping on it. However, since it has the ability to change pressure points with position shifting, back pain patients can feel fresh after sleeping on it. Furthermore, positive outlook towards the hotel industry in U.S. as a result of increment in the number of international travelers for their trips, along with growing penetration of wellness tourism, is expected to promote the use of air mattress in various entities such as hotels and hospitals.
Product Insights of Air Mattress Market
Twin products generated a revenue of USD 54.5 million in 2018. A large number of consumers prefer to purchase these products due to their low price and easy availability through supermarkets and hypermarkets, convenience stores, and brand outlets. Consumer inclination towards nuclear family, coupled with growing cost of urban real estate property, is driving the people towards small living rooms, which, in turn, will promote the utility of air mattress in the upcoming years.
The king size air mattress is expected to expand at the fastest CAGR of 10.5% from 2019 to 2025. Normal king sized product will measure 76 x 80 inches, with a height of between 6.5 to 25 inches. Shifting consumer preference towards having super luxury beds in hotels and holiday resorts is playing a crucial role in expanding the market reach. Top hotel chains including JW Marriott, Hilton Hotel and Resorts, Hyatt Hotel Corporation, and InterContinental Hotels Group (IHG) prefer to install air mattress in their rooms and gardens. The manufacturers use premium quality cover materials including high GSM spun polyester fabric in order to produce air mattress. Furthermore, king size air mattress is preferred during camping activities as it provides large space with comfortable sleeping experience.
Application Insights of Air Mattress Market
The commercial application sector generated a revenue of USD 78.1 million in 2018. The consumers prefer to have extra bedding air mattress options in their rooms to avoid extra bedding charges. It has been observed that majority of the hotels and hospitals install this product in their rooms. Furthermore, commercial institutes including hotels, hospitals, and holiday homes keep air mattress on stock to accommodate extra guests.
The household application segment is projected to be the fastest growing market, expanding at a CAGR of 9.4% from 2019 to 2025. Increasing urban real estate property cost is driving the buyers to purchase convenient and cost effective bedding options. Air mattress can be kept in the corner of a room when it is not in use. The manufacturers are offering electronically air filling technology to decrease human efforts. Furthermore, individuals whose mobility is strictly restricted due to the risk of developing bedsores and pressure wounds are expected to remain the key buyers of air mattresses.
Regional Insights of Air Mattress Market
As of 2018, North America dominated the air mattress market, accounting for more than 35.0% share of the global revenue. Increasing emphasis on sleeping disorder among consumers due to high stressed life will boost the market growth in the coming years. Rising awareness regarding healthy lifestyle among the consumers of the region is driving consumers to spend on sleeping beds and accessories. Therefore, demand for air mattress is expected to increase in the next few years as it can decrease the bedsore pain.
Asia Pacific is expected to be the fastest growing region with a CAGR of 10.0% from 2019 to 2025. Growing working population in China, South Korea, and India as a result of increasing number of employment opportunities in the private sector, coupled with expansion of urban infrastructure, is expected to promote the purchasing power of consumers. The consumers prefer to use air mattress in urban households due to small flat sizes as these products are lightweight, convertible, and easy to fit in small places. By understanding this market opportunity, companies are increasing spending on innovation in order to expand their market reach. For instance, in September 2016, India based mattress manufacturer, Kurlon has launched kurlopedic technology with unique air-flow technology.
Market Share Insights of Air Mattress Market
Key industry participants include Drive DeVilbiss Sidhil Ltd.; ALPS Mountaineering; SizeWise; LazerLazery; Sleepy Sleep; Restoration Goods; Bestway; Somnio LLC; American National Manufacturing, Inc.; Intex Development Co. Ltd.; and WENZEL Group. Over the past few years, companies have been adopting strategies such as mergers and acquisitions to increase their market reach. For instance, in April 2019, India based Kurlon acquired U.S. based luxury mattress brand Spring Air for around USD 10 million. This acquisition will help the company to increase its overall revenue. Additionally, new product launches with the inclusion of advanced features are expected to remain one of the key strategies among the industry participants over the next few years.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Air Mattress Market Research Report
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global air mattress market report on the basis of product, application, and region:
Product Outlook (Revenue, USD Million, 2019 – 2030)
Application Outlook (Revenue, USD Million, 2019 – 2030)
Quick Read Table of Contents of this Report @ Air Mattress Market Size, Share, Global Market Research and Industry Forecast Report, 2019-2025 (Includes Business Impact of COVID-19)
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