Sleep Well: Adjustable Bed and Mattress Manufacturing in the US Industry Market Research Report Now Available from IBISWorld
The Adjustable Bed and Mattress Manufacturing industry fell flat during the past five years, due to the changing real estate market and economic volatility. Nevertheless, new technologies offered by the industry are helping the industry win over customers that previously were holdouts. Adjustable beds now feature Wi-Fi remotes, LED screens, digital clocks, iPhone connectivity, full body massage and heating pads and built-in sleep timers. All of these features help adjustable beds and mattresses further differentiate themselves from traditional mattresses. In the five years to 2016, IBISWorld projects that industry revenue will grow. The recovering housing market and increasing disposable income will help boost demand for mattresses. For this reason, industry research firm IBISWorld has added a report on the Adjustable Bed and Mattress Manufacturing industry to its growing industry report collection.
Los Angeles, CA (PRWEB) February 17, 2012
The Adjustable Bed and Mattress Manufacturing industry fell flat during the past five years, due to the changing real estate market and economic volatility. According to IBISWorld industry analyst Kevin Culbert, “like most producers of household goods, adjustable bed and mattress manufacturers experienced growth in demand during the real estate surge until 2006.” Then, firms experienced a decline in demand when the housing market weakened in 2007. From 2007 to 2012, industry revenue is estimated to decline at an average annual rate of 3.0% to $1.6 billion, with growth of 2.7% in 2012. In addition to the unstable real estate market, adjustable bed and mattress manufacturers have weathered lower disposable income levels. Disposable income fell at about 3.2% in 2009 in response to high unemployment and the weak economy. Thankfully for industry manufacturers, disposable income has increased over the last few years and is expected to grow an additional 0.8% in 2012 as unemployment rates subside and residential investment returns.
Developments over the past five years have also benefited the industry. Culbert says, “this industry’s customers tend to be older and more affluent than the traditional mattress industry’s customers, and they often have mobility issues that necessitate adjustable beds.” During the five years to 2012, the number of adults aged 50 or older has grown at a rate of 2.3% per year. The new technology offered by the Adjustable Bed and Mattress Manufacturing industry is also helping the industry win over customers that previously were holdouts. Adjustable beds now feature Wi-Fi remotes, LED screens, digital clocks, iPhone connectivity, full body massage and heating pads and built-in sleep timers. All of these features help adjustable beds and mattresses further differentiate themselves from traditional mattresses.
In the five years to 2016, IBISWorld projects that industry revenue will grow. The recovering housing market and increasing disposable income will help boost demand for mattresses. As the level of residential construction rises, homeowners will purchase more household goods, including adjustable beds and mattresses. Concentration is expected to remain high in the industry, with Select Comfort dominating the market, followed by Leggett & Platt. The balance of the US adjustable bed and mattress market is fragmented with a large number of other manufacturers, many of which operate primarily on a regional basis. The industry’s highly competitive nature, along with an uncertain economic environment, will continue to place pressure on participants to develop new products to increase market share and maintain profitability.
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This industry manufactures adjustable beds and mattresses for retailers, wholesalers, consumers and the export market. This industry specifically excludes hospital beds.
IBISWorld industry Report Key Topics
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
About IBISWorld Inc.
Recognized as the nation´s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.
For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2012/2/prweb9205839.htm