Impact of COVID-19: Carpets and Rugs Market is Projected to Grow at a CAGR of 3.8% And Reach Up to USD 126.2 Billion by 2027
The Global Carpets and Rugs Market is projected to grow at a CAGR of 3.8% and reach up to USD 126.2 Billion by 2027
Carpets are referred as the covering installed wall-to-wall in the room to enhance the aesthetic of the place it is installed in. Apart from adding décor to the room, these are used to insulate the floor whereas, rugs are the coverings with relatively small size and finished edges, which can be simply laid on the floor. Carpets and rugs can be produced from variety of materials such as wool, cotton, jute, nylon, polypropylene, and many others. Wide range of carpets and rugs are available differing in term of sizes, shapes, colors, and textures. These have gained popularity across construction, automotive, and aerospace sector owing to factors such as relatively inexpensive, easy to install, and replaceable when compared to other floor coverings.
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CARPETS AND RUGS MARKET: Drivers & Restraints
Rise in Construction of Residential Apartment
The global demand for new residential construction is on rise owing to growing global population and urbanization, a result of the higher migration from rural to urban sector. Rising per capita income, growing economies, increasing trend of nuclear families, swelling middle class population are some of the factors generating higher demand for the residential apartment. In addition to this, changing consumer preference towards affordable, stylish housing choices owing to betterment in living standards. Moreover, higher renovation and refurbishment activities with rise in spending by the potential population towards enhancing home décor and aesthetics is generating the demand for home décor enhancing products. The aforementioned factors are driving the demand for carpets and rugs market growth
Increasing Demand from Automotive Sector
Carpets can be used as an automotive accessory in order to protect the automotive flooring from dirt, dust, wear and salt corrosion. Apart from protection, it provides better visual appearance of the automotive interiors. With the reshaping of automotive sector, the demand for automotive carpets is expected to rise in the forecast period. The growing automotive sector owing to higher demand for electrified vehicles is expected to push the demand for car accessories. This, in turn, is likely to result upsurge demand for automotive carpets.
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Higher Adoption of Decorative Flooring
The growth of the carpets and rugs market is projected to hit in the years to follow owing to increasing adoption of decorative flooring. Some of the advantages of the flooring such as more hygienic, easy to clean, and are more durable over the carpets and rugs, which fuels its adoption across residential and commercial application. In addition to this, wide range of decorative flooring designs developed through various engineered materials for provide desirable aesthetic look is gaining higher popularity and thus acting as a major roadblock for the growth of the carpets and rugs market.
CARPETS AND RUGS MARKET: Key Segments
- On the basis of Material: Natural and Synthetic
- On the basis of Application: Construction, Automotive, Aerospace and Others
- On the basis of Geography: North America, South America, Europe, Asia-Pacific, Middle East & Africa with individual country-level analysis.
CARPETS AND RUGS MARKET: Report Scope
The report on the carpets and rugs market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
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List of the leading companies operating in the Carpets and Rugs Market include:
- Shaw Industries Group, Inc. (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Interface, Inc.
- MOHAWK INDUSTRIES, INC.
- The Dixie Group, Inc.
- Victoria PLC
- Tai Ping Carpets International Limited
- Milliken & Company
- Other Key Companies
CARPETS AND RUGS Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Carpets and Rugs Market, by Material
- Pet Polyester
- Ptt Triexta
Carpets and Rugs Market, by Application
Carpets and Rugs Market by Region
- Asia-Pacific (China, Japan, South Korea, India, Taiwan, Rest of Asia-Pacific)
- North America (US, Canada, Mexico)
- Europe (Germany, Russia, France, Italy, UK, Spain, The Netherlands, Rest of Europe)
- Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)
- South America (Brazil, Argentina, Rest of South America)
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Key Questions answered by the report
- What are the major developments impacting the global market and its growth?
- What will be the effects of the developments in the global market on the industry and on the market players in the near and far future?
- What are the evolving types of the global market?
- What are the evolving applications of global market?
- What are the major characteristics that will affect the global market growth during the study period?
- Who are the key global players operating in the market?
- How are the major players leveraging in the existing global market conditions?
Table of Content
- RESEARCH DESIGN & SCOPE
- EXECUTIVE SUMMARY
- MARKET DYNAMICS
- INDUSTRY TRENDS — PORTERS FIVE FORCES ANALYSIS
- CARPETS AND RUGS MARKET BY MATERIAL, Market Size in USD Million and Million Square Meter (2019–2027)
- CARPETS AND RUGS MARKET BY APPLICATION, Market Size in USD Million and Million Square Meters (2019–2027)
- CARPETS AND RUGS MARKET BY REGION, Market Size in USD Million and Million Square Meter (2019–2027)
- COMPETITIVE LANDSCAPE
- COMPANY PROFILES
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