Commercial Flooring Market Size, Share & Trends Analysis Report By Product (Wood & Laminate, LVT, Ceramics, Natural Stone, Linoleum & Rubber), By Region (North America, Asia Pacific), And Segment Forecasts, 2023 - 2030

Commercial Flooring Market Size, Share & Trends Analysis Report By Product (Wood & Laminate, LVT, Ceramics, Natural Stone, Linoleum & Rubber), By Region (North America, Asia Pacific), And Segment Forecasts, 2023 - 2030

Commercial Flooring Market Growth & Trends

The global commercial flooring market size is expected to reach USD 200.56 billion by 2030, expanding at a CAGR of 4.8% from 2023 to 2030, according to a new report by Grand View Research, Inc. This is on account of the growing industrialization in developing countries, which has increased the demand for commercial spaces and thus triggered the demand for commercial flooring. Construction activities of commercial sub-sectors, such as institutional buildings, office complexes, public buildings, and municipal corporations, are expected to increase over the next couple of years. The recovery of the construction industry in developed economies, such as the U.S., coupled with rapidly rising infrastructure activities in developing economies, such as China and India, is a key factor influencing the global development of the non-residential construction market.

The commercial flooring market in North America is expected to witness significant growth over the coming years on account of the increasing construction of residential and commercial buildings in the region. The market is witnessing a rapid shift toward the domestic production of commercial flooring products, such as ceramic tiles, carpets, wood, and laminate. Many Italian companies are increasingly investing in the North American market owing to the abundant raw material availability and a huge customer base. The growing population in the major economies of Asia Pacific is driving the industrialization and construction of commercial buildings.

This has triggered the market for commercial flooring products, such as ceramics, porcelain, carpet, LVT, and natural stone, in the market. Moreover, the growing consumer disposable income has resulted in increased spending on the renovation and refurbishment of commercial spaces based on the color & texture of products. This is positively influencing the demand for commercial flooring in the market. Companies including Mohawk, Armstrong, Mannington Mills, Flowcrete, Amtico, Forbo, Interface Global, IVC Group, Pergo, and Shaw Floors are some of the key manufacturers of flooring solutions for commercial applications in the global market.

These companies supply their products to the market through numerous distribution channels including third-party agreements with vendors and wholesalers, direct supply agreements with construction companies, and retail outlets as well as e-commerce portals. Floorings installed through contractors is also a key stage in the value chain. Several companies including Acton Flooring, Becker Brothers, Atlantic Floors & Services, Duffy & Lee Company, M & S Flooring, Inc., Chaves Flooring, Inc., and BNE Contractors are some of the companies/contractors that are engaged in providing flooring installation services to end-users. In addition, the majority of flooring manufacturing companies provide installation services along with post-installation care.

Commercial Flooring Market Report Highlights

• The vitrified (porcelain) product segment accounted for the largest revenue share of 28.2% in 2022 and is forecasted to grow at a CAGR of 4.7% by 2030. Resistance to mold and bacteria offered by impervious porcelain tiles leads to long-term value in floor covering. In addition, this flooring product does not fade and is easy to maintain
• The linoleum & rubber product segment is forecasted to grow at the fastest CAGR of 6.3% from 2023 to 2030. This is owing to its advantages over other floorings as linoleum & rubber floorings are free of PVC, resistant to water and chemical spills. Moreover, these are versatile and high-performing flooring options available in plank, tile, and sheet formats
• Asia Pacific accounted for the largest revenue share of 46.2% in 2022. This is attribute to the growing population in major economies of Asia Pacific which is driving the need for industrialization and construction of commercial buildings. This has triggered the demand for commercial flooring products, such as ceramics, porcelain, carpet, LVT, and natural stone, in the market.
• A rise in the construction spending on commercial buildings, such as shopping malls, hotels, and healthcare facilities worldwide, especially in developing nations, is expected to propel the growth of the flooring market over the forecast period
• The global market is expected to remain highly competitive on account of the fragmented nature. The manufacturers aim to achieve optimum business growth and strong industry position through implementation of various strategies, such as acquisitions, new product launches, collaborations, and strengthening of distribution networks in the global as well as regional markets

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