Bed-Convertible Seat Market

The global market for bed-convertible seats is forecasted to continue its upward trend over the next eight years, with both volume and value expected to increase. Consumption rose to 79M units in 2022, with an average annual growth rate of +5.0% over the past decade. China leads in consumption and production, with the United States and India also significant players. The market value is projected to reach $20.5B by 2030. Key countries driving market trends include China, the United States, Poland, and Turkey, with notable fluctuations in import and export prices.

Market Forecast

Driven by increasing demand for seats convertible into beds worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +3.5% for the period from 2022 to 2030, which is projected to bring the market volume to 104M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.1% for the period from 2022 to 2030, which is projected to bring the market value to $20.5B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Seats Convertible Into Beds

In 2022, global bed-convertible seat consumption rose to 79M units, with an increase of 1.6% on 2021. In general, the total consumption indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -1.5% against 2020 indices. Global consumption peaked at 80M units in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

The global bed-convertible seat market size was estimated at $13.7B in 2022, with an increase of 3.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -8.9% against 2019 indices. Over the period under review, the global market hit record highs at $15.1B in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Consumption By Country

The country with the largest volume of bed-convertible seat consumption was China (20M units), accounting for 25% of total volume. Moreover, bed-convertible seat consumption in China exceeded the figures recorded by the second-largest consumer, the United States (7.9M units), twofold. India (7.5M units) ranked third in terms of total consumption with a 9.5% share.

In China, bed-convertible seat consumption expanded at an average annual rate of +6.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (+5.9% per year) and India (+6.6% per year).

In value terms, the largest bed-convertible seat markets worldwide were the United States ($2.6B), China ($2.2B) and Indonesia ($1.2B), with a combined 44% share of the global market.

Among the main consuming countries, the United States, with a CAGR of +11.6%, recorded the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of bed-convertible seat per capita consumption in 2022 were the United States (24 units per 1000 persons), Germany (24 units per 1000 persons) and Mexico (22 units per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +8.0%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Seats Convertible Into Beds

In 2022, the amount of seats convertible into beds produced worldwide reached 84M units, approximately reflecting the year before. Overall, the total production indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.4% against 2020 indices. The pace of growth appeared the most rapid in 2016 when the production volume increased by 11%. Over the period under review, global production reached the maximum volume at 85M units in 2020; however, from 2021 to 2022, production remained at a lower figure.

In value terms, bed-convertible seat production dropped modestly to $14.2B in 2022 estimated in export price. Over the period under review, production continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2017 when the production volume increased by 40%. Global production peaked at $21B in 2019; however, from 2020 to 2022, production remained at a lower figure.

Production By Country

The country with the largest volume of bed-convertible seat production was China (26M units), accounting for 31% of total volume. Moreover, bed-convertible seat production in China exceeded the figures recorded by the second-largest producer, India (8.3M units), threefold. Poland (6.1M units) ranked third in terms of total production with a 7.2% share.

In China, bed-convertible seat production increased at an average annual rate of +5.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+7.5% per year) and Poland (+4.4% per year).

Imports

World Imports of Seats Convertible Into Beds

After three years of growth, purchases abroad of seats convertible into beds decreased by -11% to 12M units in 2022. In general, total imports indicated a notable increase from 2012 to 2022: its volume increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +34.9% against 2018 indices. The pace of growth was the most pronounced in 2021 when imports increased by 22% against the previous year. As a result, imports reached the peak of 14M units, and then dropped in the following year.

In value terms, bed-convertible seat imports dropped to $1.9B in 2022. Overall, total imports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +23.3% against 2014 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 29%. As a result, imports reached the peak of $2.2B, and then fell in the following year.

Imports By Country

In 2022, the United States (2.8M units), distantly followed by Germany (1.5M units) and France (1M units) were the key importers of seats convertible into beds, together committing 43% of total imports. Italy (402K units), the Czech Republic (393K units), Australia (390K units), Poland (353K units), the UK (299K units), Thailand (289K units), Japan (279K units), Switzerland (260K units), Canada (258K units) and Austria (246K units) took a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +20.3%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($294M), Germany ($291M) and France ($203M) constituted the countries with the highest levels of imports in 2022, together accounting for 41% of global imports. Austria, Switzerland, the Czech Republic, Italy, the UK, Japan, Poland, Canada, Australia and Thailand lagged somewhat behind, together comprising a further 26%.

Poland, with a CAGR of +16.5%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average bed-convertible seat import price amounted to $154 per unit, reducing by -3.8% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 17% against the previous year. Over the period under review, average import prices attained the maximum at $179 per unit in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Austria ($331 per unit), while Thailand ($0.4 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+6.3%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Seats Convertible Into Beds

After four years of growth, overseas shipments of seats convertible into beds decreased by -9.1% to 17M units in 2022. Over the period under review, exports, however, recorded a perceptible expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 65%. Over the period under review, the global exports hit record highs at 19M units in 2021, and then fell in the following year.

In value terms, bed-convertible seat exports dropped significantly to $1.8B in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 19% against the previous year. As a result, the exports reached the peak of $2.8B, and then declined dramatically in the following year.

Exports By Country

China (6.5M units) and Poland (5.7M units) dominates exports structure, together mixing up 70% of total exports. It was distantly followed by Romania (1M units), constituting a 6% share of total exports. India (741K units), Turkey (703K units), Portugal (413K units), Thailand (382K units) and Belarus (261K units) took a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +45.8%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Poland ($930M) remains the largest bed-convertible seat supplier worldwide, comprising 51% of global exports. The second position in the ranking was held by Turkey ($157M), with an 8.5% share of global exports. It was followed by Romania, with a 6.4% share.

From 2012 to 2022, the average annual growth rate of value in Poland totaled +5.7%. In the other countries, the average annual rates were as follows: Turkey (+1.2% per year) and Romania (-1.0% per year).

Export Prices By Country

In 2022, the average bed-convertible seat export price amounted to $106 per unit, with a decrease of -27.1% against the previous year. Overall, the export price recorded a pronounced contraction. The pace of growth appeared the most rapid in 2017 an increase of 75%. As a result, the export price attained the peak level of $304 per unit. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($223 per unit), while China (less than $0.1 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+1.5%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform