DUBLIN, Sept. 17, 2020 /PRNewswire/ -- The "Movable Walls Market - Global Outlook and Forecast 2020-2025" report has been added to ResearchAndMarkets.com's offering.
The global movable walls market by revenue is expected to grow at a CAGR of over 11% during the period 2019-2025. The global movable walls market size is forecast to surpass revenues of over $5.4 billion by 2025 and is expected to witness significant growth during the forecast period. The market is mainly driven by the development of new buildings and the growth in renovation or replacement activities. Movable walls are used in commercial sectors such as retail, hospitality, recreational facilities, and institutions such as hospitals and educational institutes, government facilities, workspaces, and offices. They are also used to enhance the security of the space and protect against environmental impacts. The global movable walls market share is expected to be largely affected as a result of the COVID-19 outbreak, nationwide lockdowns, and several containment policies taken up government agencies across the world. The global market experienced significant growth in 2019, the growing demand for flexible space utilization and the increasing number of flexible workspaces, however, factors such as disruption in the global supply chain, reduced economic growth, macroeconomic slowdown, political volatility, and trade conflicts are likely to impact the demand for movable walls globally.
The outbreak of COVID-19 is expected to develop increased opportunities for movable wall systems, especially in the healthcare sector. The use of these systems in healthcare facilities is expected to witness the fastest growth during the forecast period. The highly infectious disease requires effective control to prevent the spread of infection. They can create a flexible condition in hospitals or clinics while ensuring to limit the spread of diseases.
The following factors are likely to contribute to the growth of the movable walls market during the forecast period:
- Green and Sustainable Building
- Demand for Acoustic Solution
- Expansion of Co-working Spaces & Need for Flexible Office
- Increased Flexibility & Ease of Installation
The study considers the present scenario of the movable walls market and its market dynamics for the period 2019-2025. It provides a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspect of the market. It profiles and examines leading companies and other prominent ones operating in the market.
North America is the fastest-growing market for movable walls. It accounted for shares of over 33% in 2019. However, the region is expected to exceed Europe in terms of total revenue, contributing an estimated 41.97% of revenue by 2025.
The global market is highly fragmented with the presence of several global and regional manufacturers. Vendors typically compete on key parameters such as product design, quality, reliability, support services, and price. Rapid technological advancements are adversely affecting vendors as consumers are expecting continuous innovations and upgrades of products. The present scenario is driving vendors to alter and refine their unique value proposition to achieve a strong market presence. Hufcor, Dormakaba, Transwall, Haworth, and Faraone are some major vendors that are dominating the global movable walls market. These vendors have a large set of product offerings with a widespread presence in the global market. Major vendors are adopting innovative technologies to retain their strong market position.
Key questions answered in the report:
- What is the movable walls market size and growth rate during the forecast period?
- What are the factors impacting the growth of the movable walls market share?
- Which product/application/region is generating the largest revenues for the North American market?
- Who are the leading vendors in the global movable walls market, and what are their market shares?
- What is the impact of the COVID-19 pandemic on the movable walls market?
- Haworth Inc.
- Movawall System
- Trendway Corporation
- Accordial Ltd.
- Style Partitions
- Franz Nusing
- Environamics Inc.
- Moving Design Ltd
For more information about this report visit https://www.researchandmarkets.com/r/ba757s
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