Our in-depth analysis segmented the global electric mattress market in the following segments:
Global Electric Mattress Market is further classified on the basis of region as follows:
The market of electric mattress touched USD 5.4 Billion in 2015 and further the market is predicted to register a modest CAGR over the forecast period i.e. 2016-2023. Further, Europe electric mattress market is the most opportunistic and revenue generated market for electric mattress manufacturing industries owing to increasing demand of electric mattress for comfortable sleep. The market of Europe is mainly up surged by the weather conditions which are further stimulating the demand for electric mattress in the region.
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Europe is expected to be the largest market in overall electric mattress market across the globe on account of extended winter season, changing lifestyle of the populations, rising personal disposable income and rapid expansion of urban cities across the region. Growing demand for electric mattress is likely to upsurge the market of Europe region during the forecast period i.e. 2016-2023. After Europe, North America has the second highest demand for electric mattresses in 2016; U.S. being the biggest consumer in North America followed by Canada. Moreover, the demand can be attributted to rapid expansion in healthcare and hospitality sectors owing to increasing investments aims to provide comfortable and better services to the consumers in North America region. These factors estimated to swell the demand for electric mattresses in near future. Growing concern towards quality sleep and enhanced electric mattresses are likely to augment the growth of electric mattresses market globally. Likewise, increasing demand for electric mattresses in cold regions in order to take proper and comfortable sleep is expected to gain more traction for electric mattresses in near future.
Increase in aging population coupled with body aches, rising adoption of electric mattresses in urban regions due to changing lifestyle, growing awareness towards the benefits of electric mattresses, and rising concern towards better and comfortable sleep among the populations are some of the factors driving the market of electric mattress across the globe.
Factors such as introduction of cost-effective and advanced electric mattresses, availability of user friendly and easy to wash electric mattresses, rising preferences by physicians towards electric mattresses for appropriate sleep and presence of government regulations for the manufacturing of electric mattresses which gain trust of consumers are some of the key elements prompting the demand for electric mattresses across the globe. Additionally, increase in gross disposable income of the population in developing regions and increasing housing spending for comfort and convenience, availability of low cost electric mattresses with various features, growing demand in hospitality sector for the comfort of users and shifting of population towards luxury and premium goods in developing nations are some of the major key elements swelling the demand for electric mattresses across the globe.
Conversely, high cost of electric mattresses, lack of awareness towards electric mattresses across the globe, presence of complexities with electric mattresses such as wire arrangements and reduction of heating efficiency with time are some of the factors which are expected to hinder the market of electric mattresses across the globe.
The key players of electric mattress market are as follows:
The key players of electric mattress market are as follows:
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
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