Latex Mattress Market Size Worth $12.4 Billion By 2025

The global latex mattress market size is anticipated to reach USD 12.4 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.8% over the forecast period. Growing preference for luxury lifestyle catering to better sleeping products is anticipated to fuel the growth of the market over the forecast period.

Latex mattress witnesses increasing demand as a result of growing incidences of back problems and joint pain due to poor quality mattress, resulting in inadequate sleep. Therefore, market witnesses increased spending on mattresses as a need to promote mental and physical health, which is expected to increase latex mattress market demand over the forecast period.

Latex mattress has the ability to heal natural alignment of spine and provides quality sleep owing to its comfort and cushioning properties. Thus, proper distribution of body pressure in order to support the natural spine curvature also helps in improving blood circulation, which ultimately acts as a bonus for health and wellness. It also helps in promoting pain relief and is recommended by osteopaths, therapists, and chiropractors.

In addition, increasing prevalence of backache issues and spinal misalignment has urged consumers to invest in quality mattresses, which, in turn, is expected to drive the demand for latex mattress. According to statistics, 27 million of Americans aging 18 years or older have been associated with back pain in 2017. Thus, sleeping on a poor quality mattress is expected to be one of the prominent reasons causing back pain in adults and adolescents across the world.

In addition, less of work life balance across young adults has increased the occurrence of various joint pain issues including backache, which is expected to positively impact the growth of the latex mattress market. Moreover, growth of the hospitality sector has increased the construction of hotels, which, in turn, is pushing up the demand for superior quality latex mattresses.

In terms of type, blended mix latex generated a revenue of USD 3.1 billion in 2018. The blend of natural latex in combination with synthetic latex helps the mattress in gaining properties such as more durability, lesser chemical production, and increased firmness consistency. Moreover, in order to provide a beneficial mix of both, companies produce mattress containing ratio of 60:40 or 70:30 natural vs synthetic according to the manufacturer’s choice. Thus, this product gained popularity owing to various attributes and is also cheaper as compared to natural latex mattress.

In terms of application, the commercial sector is expected to witness the highest growth over the forecast period. Increasing infrastructural development across regions, particularly developing countries, is driving the hospitality sector such as hotels and hospitals. Rising demand for hospitals and hotels, particularly in countries such as India, China, and Vietnam is one of the major factors driving the market.

Thus, manufacturers are taking constant efforts in developing newer products in the market with upgraded technology so as to deliver the best of products in the segment. For instance, in October 2018,Innocor Inc. had launched an Amazon exclusive brand called Revel with its Innocor Foam Technologies, which serves commercial customers.

North America dominated the global market, accounting for 30.4% share of global revenue in 2018. Rise in the number of households catering to increasing home furnishing products and healthier lifestyle chosen by the consumers of the region is expected to drive the market. Moreover, growing importance of natural ingredients in mattress production, such as latex mattress helps in preventing spinal and muscle disorders, acts as a key driving factor.

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Further key findings from the report suggest:

The blended mix segment generated a revenue of USD 3.1 billion in 2018
The commercial application segment is expected to expand at a CAGR of 7.1% over the forecast period
Asia Pacific is the fastest growing region, expanding at a CAGR of 7.4% from 2019 to 2025
Top players operating in the market include Sleep On Latex, Simmons Bedding Company LLC., Astrabeds LLC, Spindle, Dreamfoam Bedding, Sleep Number Corporation, PlushBeds, Royal-Pedic Mattress Mfg., and Spring Air International.

Acoustic Insulation Market Size Worth $16.55 Billion By 2025

The global acoustic insulation market size is expected to reach USD 16.55 billion in 2025, according to a new report by Grand View Research, Inc. Increasing standard of living, awareness regarding the effect of noise pollution on human health and stringent regulations have been driving the global market so far.

Market growth will probably be driven by consumer needs and initiatives, while favorable regulations are also expected to play a crucial role in shaping the industry. Technological advancements in construction, industrial processing, and transportation industries will play a significant role in acoustic insulation market growth over the forecast period.

Increasing competition in automotive manufacturers to produce acoustically insulated luxury vehicles has taken the game far ahead. Aerospace and marine industries have been trying to isolate occupants from airborne and impact noises. Consumer demand for quieter and insulated cabins in vehicles and airplanes will probably help the segment growth over the forecast period.

Building & Construction has traditionally been using sound insulating materials to maintain a peaceful environment for the occupants. Penetration in the sector is primarily driven by regulatory mandates to control noise transmission level, especially in the U.S. and Europe. However, sluggish construction industry growth in Europe has inhibited the market growth in the past and the impact is expected to be seen over the forecast period as well.

Asia Pacific is the dominant market, and the demand has been driven by growing construction as well as transportation sectors. Europe closely follows Asia Pacific to be the second largest market for acoustic insulation products. Regional demand is driven by stringent regulations regarding the airborne, appliance and impact noise. Apart from regulations on noise at source, EU regulates noise transmission levels inside dwellings as well.

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Further key findings from the report suggest:

Rock wool emerged as the leading product segment with demand share exceeding 40% in 2015. Higher sound insulation, environment-friendly nature, and low prices have been responsible for the market penetration.
Foamed plastic is expected to be the fastest growing product segment with revenue growth of 6.2% from 2016 to 2025. Better acoustic properties, ease of installation in addition to the dual benefits of acoustic as well as thermal insulation offered are expected to trigger the product demand.
Building & construction dominates the market with a volume share exceeding 55% in 2015. Regulations and consumer demand mainly drive segment penetration.
Asia Pacific acoustic insulation demand expected to grow at an estimated CAGR of 6.2% from 2016 to 2025. Growing transportation as well as construction sectors in the region will probably trigger the market growth.
Expansion and acquisition to emerge as the critical factor for expanding the regional presence. Key companies operating the market include Rockwool International, Saint-Gobain, Knauf Insulation, BASF, Owen Corning Corporation, Johns Manville and Kingpan Group

U.S. Terracotta Cladding Market Worth $711.1 Million By 2022

The U.S. terracotta cladding market is expected to reach USD 711.1 million by 2022, according to a new report by Grand View Research, Inc. increasing refurbishment and renovation projects in both the residential & commercial sectors are a vital determinant for industry growth.

Economic recovery & technological advancements have ushered in innovative panels that insulate buildings, while retaining heat & ambient conditions as required. This lowers the amount of energy spent on heating, cooling or air conditioning (HVAC), and fosters building compliance with energy standards, which is crucial to terracotta market growth.

Residential applications dominated the U.S. market with over one-fourth of the volume share in 2014. The segment is anticipated to grow at 6.5% CAGR over the forecast period, owing to increasing residential construction activities in the region and favorable government regulations by the World Green Building Council (World GBC) and International Energy Agency (IEA).

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Further key findings from the report suggest:

The U.S. terracotta cladding market demand was 115,033.5 thousand sq. feet in 2014 and is expected to reach 183,104.1 thousand sq. feet by 2022, growing at a CAGR of 6.0 from 2015 to 2022
The increasing employment rate in the U.S., coupled with the expansion of existing company buildings to improve their regional presence is expected to drive terracotta cladding demand for office construction. Terracotta cladding in office applications is anticipated to grow at a CAGR of over 6.0% in terms of revenue from 2015 to 2022.
West South Central is anticipated to emerge as the fastest growing region with a CAGR of 7.3% over the forecast period. Increasing non-residential construction such as offices, hospitals, industrial and commercial construction in the region owing to escalated investments is anticipated to drive the industry.
West North Central region accounted for over 7% of the terracotta demand in 2015. High demand for ‘vertical homes’ and increasing construction spending in states such as Iowa, Kansan and Minnesota is anticipated to be the key driving factor for regional growth.
Key market players include Terreal North America, M.F. Murray Company, Carea Ltd., Elite Cladding Systems Ltd., Pace Representatives, Inc., R.A.M. Inc., Shildan, Celotex Ltd., CGL Facades Co., Hunter Doulas, Cladding Corp., Palagio Engineering, Avenere Cladding LLC, James & Taylor Co., Boston Valley Terracotta.

Smart Kitchen Appliances Market Size Worth $39.9 Billion By 2027

The global smart kitchen appliances market size is expected to reach USD 39.9 billion by 2027, expanding at a CAGR of 19.1% over the forecast period, according to a new report by Grand View Research, Inc. The market is driven by increasing penetration of Internet of Things (IoT) and Artificial Intelligence (AI) enabled devices. With rapid technological upgradation and increasing women workforce, strong inclination toward luxurious and tech-savvy appliances are considered to be major factors fueling the market growth. In addition, these appliances are equipped with high proximity sensors and can be operated remotely from smartphones, tablets, and display monitors. Increasing disposable income of middle-class economic group and westernization in the developing countries is also propelling the market.

The smart refrigerators product segment held majority of the market share, accounting for more than 34.0% share in 2019 and is expected to witness a significant growth over the forecast period. Availability of new age technology and energy efficient refrigerators with high ENERGY STAR ratings are becoming popular among consumers and thus driving the overall market. The smart cookware and cooktops segment is expected to be the fastest growing segment, witnessing a significant CAGR of 20.2% during the forecast period.

The residential application segment dominated the market and accounted for more than 57.0% of the market share in 2019. Rising trend of modern kitchen has enforced consumers to renovate and develop their kitchen according to latest trends in interiors and design. Availability of variety of products such as smart refrigerators, smart dishwashers, smart ovens, etc. is leading to the growth of kitchen appliances. Commercial segment is also expected to have a significant market growth in the forecast period owing to external food outlets such as hotels, restaurants, etc.

North America dominated the smart kitchen appliances market in 2019 and accounted for more than 34.0% of the market share. Rapid lifestyle changes along with increasing disposable income of middle-class population are among the prominent factors for the market growth in the region. Asia pacific is anticipated to be the fastest growing region and is expected to witness the highest CAGR of more than 21.0% over the forecast period. China is expected to account for the highest market share globally owing to growing adoption of smart cookware and smart ovens, thus leading to significant growth of the region.

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Further key findings from the report suggest:

The smart cookware and cooktops product segment is expected to register a CAGR of 20.2% over the forecast period
Commercial sector in the application segment is expected to expand significantly with a CAGR of 18.8% over the forecast period
Europe is one of the fastest growing regions and is growing at a significant rate of 19.3% due to growing disposable income and advanced lifestyle standards especially in U.K. and Germany
Whirlpool Corporation, LG Electronics, AB Electrolux, Samsung Electronics Co. Ltd, Haier Group, Panasonic Corporation, BSH Hausgerate GmbH, Koninklijke Phillips N.V., and Miele are some of the major players in the smart kitchen appliances market.

Portable Mini Fridge Market Worth $1.3 Billion By 2025

The global portable mini fridge market size is expected to reach USD 1.3 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.2% over the forecast period. Increasing application of portable fridges in outdoor recreational vehicles including RVs, caravans, motorhomes, campervans, and vanity vans is expected to remain a key factor for the market growth. In addition, improvement in the hotel industry at the global level as a result of increasing travel spending by millennials for business and personal trips is expected to promote the scope for portable mini fridges over the next few years.

Enthusiasm for outdoor recreational activities such as camping has grown significantly among working professionals across the globe. These trends are driving the manufacturers of RVs, caravans, and motorhomes to add more luxury to their products so that the customers find them more productive and luxurious during their outing. Customers’ preference is shifting towards more luxury during their outing, which, in turn, will prompt the use of portable mini fridge in the foreseeable future.

Portable mini fridges also find a wide application in hotel rooms and suites, which is expected to opens new avenues for the market. Moreover, the hotel industry is growing at a significant rate across the globe. Major players include Marriott International, InterContinental Hotels Group, and Hilton Worldwide are investing in the expansion of their hotel chain in the untapped markets. For instance, in 2019, Hilton group has planned to inaugurate its new nine hotels around the world including countries such as Algeria, Colombia, Tajikistan, China, and India. Increasing investment in the establishment of new hotels is projected to promote the utility of compact and portable fridge in the foreseeable future.

North America was the largest regional market, accounting for 30.7% share of the total revenue in 2018 owing to increased participation by millennials in outdoor recreational activities in U.S. and Canada. In addition, positive outlook towards the hospitality sector in U.S. on account of increasing number of foreign travelers for vacation and professional trips is expected to promote the scope for the portable mini fridges in the near future.

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Further key findings from the report suggest:

The commercial application segment held the largest share of more than 70.0% in 2018 owing to wide application in the RVs, caravans, motorhomes, campervans, and vanity vans
North America was the largest market, accounting for 30.7% share of the global revenue in 2018 owing to increased number of millennial participants in outdoor recreational activities in U.S.
Online distribution channel is expected to expand at the fastest CAGR of 5.6% from 2019 to 2025 owing to availability of a wide range of products with huge offers and discounts by some of the key e-commerce portals including Alibaba and Amazon
Key players include in the portable mini fridge market are Midea Group; ARB; Danby; DOMETIC GROUP AB (PUBL; Living Direct, Inc.; Engel Australia Pty Ltd.; Haier Inc.; Whirlpool Corporation; Godrej Group; Electrolux AB; and WHYNTER LLC.

Wood & Laminate Flooring Market Size Worth $90.46 Billion By 2025

The global wood and laminate flooring market size is expected to reach USD 90.46 billion by 2025, expanding at a CAGR of 5.3%, according to a new report by Grand View Research Inc. Factors such as the natural look and feel offered by solid wood flooring coupled with the growing need for aesthetic improvements in the construction interiors is likely to augment the growth.

Solid wood flooring is commercially available in various wood species, patterns, and designs, thus is gaining traction in high-end construction applications. Engineered wood flooring is composed of multiple wood layers and can provide look and feel similar to solid wood floors. Durability, high-gloss and colored and textured finishes of laminate floors are some of the properties expected to drive the growth.

Improved acoustics, combined with ease of refinishing over a period of time are the major contributing factors for the growing demand for solid wood floorings. The pricing structure varies according to the wood species used. However, high cost associated with solid wood flooring is anticipated to divert the consumer base toward laminated variant.

The market is characterized by several multinational and a large number of domestic players engaged in the production and distribution of wood flooring. Prominent market players focus on providing installation and maintenance services to the customers to sustain in the highly competitive industry.

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Further key findings from the report suggest:

Wood flooring segment is expected to expand at the fastest CAGR of 5.5% over the forecast period owing to the product properties that result in the superior aesthetics in residential and commercial building interiors
Residential flooring application for wood and laminate flooring dominated the market with a share of 70.11% in 2018 and is anticipated to witness a considerable CAGR owing to increasing construction of single-family and multi-family structures
The revenue for laminate flooring in North America stood at USD 3.48 billion in 2018 and is likely to register notable growth over the forecast period on account of growing trend of using wood-like flooring available at lower cost
Europe accounted for the a revenue share of 40.3% in 2018 owing to the abundant availability of varied wood species and a wide acceptance of the products to prevent cold temperature
In November 2017, Mohawk Industries, Inc. acquired Godfrey Hirst Group. This acquisition enhanced Mohawk’s products reach and geographical presence, especially in Australia and New Zealand

Air Purifier Market Size Worth $18.21 Billion By 2027

The global air purifier market size is expected to reach USD 18.21 billion by 2027, exhibiting a CAGR of 10.8% over the forecast period, according to a new report published by Grand View Research, Inc. Factors, such as the rising air pollution along with awareness pertaining to the benefits associated with air purifier are expected to fuel the growth.

Exponential rise in the demand for clean air, owing to the rising population levels coupled with growing respiratory issues, especially in urban areas are anticipated to fuel the market. Globally, increasing disposable income coupled with growth in spending on home appliances is expected to drive the market growth. Moreover, rise in the number of industrial activities, especially in the emerging countries, is expected to boost the demand for air purifiers, especially in Heating, Ventilation, and Air Conditioning (HVAC) applications.

Nowadays, air purifiers are also equipped with features, such as Wi-Fi, indicators, and sensors. Moreover, manufacturers are also developing Artificial Intelligence (AI)-enabled air purifiers with voice recognition feature. Manufacturers also engage in R&D activities for developing compact and high-efficacy air purifiers at competitive prices. These factors are projected to positively influence the market growth in the forthcoming years.

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Further key findings from the report suggest:

HEPA emerged as the largest technology segment in 2019 with a market share of 37.8%, owing to improved efficiency of the technology when it comes to trapping dust, dust mites, pollens, and other indoor allergens
The commercial application segment dominated the global air purifier market with a revenue share of 71.0% in 2019, owing to increasing adoption in hotels, offices, public buildings, educational institutions, and hospitals among others
Asia Pacific emerged as the leading regional market and accounted for the largest revenue share in 2019 owing to the massive industrialization, environmental protection laws, and rising awareness to curb pollution
North America is projected to expand at a CAGR of 10.7% over the forecast period, owing to high purchasing power of consumers in addition to increasing awareness regarding the prevalence of numerous airborne diseases
Advanced R&D activities by the market participants have led to extremely innovative designs, which have optimized the adoption of air purifiers across the globe

U.S. Heating Equipment Market Size Worth $4.98 Billion By 2025

The U.S. heating equipment market size is anticipated to reach USD 4.98 billion by 2025, conferring to a new report by Grand View Research, Inc. Growing demand for energy efficient heating equipment and favorable government initiatives is projected to augment market demand over the coming years. The heat pumps segment occupied the largest share in 2015 on account of its increasing preference in the industrial and commercial sector. Heat pumps are very efficient in converting energy to heat at low operational cost.

Boilers and furnaces are extensively used heating system in the residential sector. Electric furnaces are gaining wide preference as they require less maintenance, are one of the least expensive, and are free from harmful emissions. Boilers are further categorized on the basis of product, size, and technology.

The growth of housing and construction sector for single and multi-unit dwelling is expected to boost the demand for over the coming years. The sluggish oil & gas prices have further facilitated the wide application of heating equipment in the U.S. industrial and residential segment

Favorable federal and state policies in the U.S. is projected to further drive the demand. Installing energy efficient heating system qualifies residential buyers to claim 10% of the cost of labor, professional preparation, and cost of installation. Rising awareness of greenhouse emissions has led to replacement of old heating equipment by new energy efficient solutions thereby facilitating the U.S. heating equipment market growth.

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Further key findings from the report suggest:

Heat pumps segment accounted for 33% of the market revenue in 2015
Heat pumps are used for temperatures with moderate heating and cooling requirements, thereby finds increased application in residential segment
Easy credit accessibility or financial support is anticipated to spur consumer spending on renovation and remodeling activities, which, in turn, will benefit the heating equipment market
Steam boilers accounted for the largest market share in 2015
ECO-Labelling of heating equipment is used to encourage and guide customers in their choice of products
The emergence of climate and energy as a political priority has spurred an increased interest in heating and energy efficiency gains to be realized within buildings
Key market players include Robert Bosch LLC, United Technologies Corporation, Emerson Electric, Ingersoll-Rand Plc, and Lennox International, American Heating Company Inc., Johnson Controls Inc., Honeywell International Inc., Burnham Holdings, Inc., and Rheem Manufacturing Company Inc.

Video Surveillance & VSaaS Market Size Worth $48.95 Billion By 2020

The Global video surveillance & VSaaS market size is expected to reach USD 48.95 billion by 2020, according to a new study by Grand View Research, Inc. Growing number of security concerns on a global level coupled with increased investment in sophisticated surveillance network development is expected to drive the market. Increased demand for traffic surveillance and intrusion detection is also expected to propel market growth over the next six years.

Technological advancement has led to the development of improved surveillance cameras and related devices. Declining IT costs and centralized data management are expected to positively impact the video surveillance & VSaaS market. Privacy concerns associated with public surveillance may restrain market growth. Implementing big data analytics solutions is expected to provide viable growth opportunities to companies operating in the market. Mobile video surveillance allows real-time data viewing, which presents growth potential to the video surveillance market.

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Further key findings from the study suggest:

IP-based systems are expected to gain market share over the forecast period, which can be attributed to benefits such as superior image resolution and integrated analytics engines. Demand for analog systems is expected to remain robust in the price-sensitive consumer segment.
Hardware accounted for majority of the market share in 2013, and is expected to remain the leading component segment over the forecast period. Key hardware products include cameras, recorders and storage devices; need for efficient security in public venues and sporting events is expected to drive global surveillance cameras demand. The services segment that includes hosted, managed, and hybrid services is expected to witness high growth over the next six years.
Transportation and retail are expected to remain the major application segments over the forecast period. Need for traffic regulation and controlling theft and vandalism activities in public transport are expected to drive market growth. Video surveillance proves effective for deterring crime and curbing business losses, which is expected to fuel the retail segment.
North America was the largest regional market in 2013, and is characterized by the presence of several industry participants. Asia Pacific is expected to gain market share over the forecast period; this is mainly due to growing installation of surveillance devices in China and India, along with increased infrastructure spending in the region.
Key market players include Hikvision Digital Technology, Axis Communications, Honeywell, Cisco, Bosch Security, etc. Companies enter into strategic alliances and focus on product innovation in order to gain market share. Focus on providing VSaaS solutions and investing in emerging markets are other strategic initiatives.

About Grand View Research:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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