North America Wood Flooring Market Size, Share & Trends Analysis Report By Product (Solid, Engineered), By Wood Type, By Application, By End-use, By Country, And Segment Forecasts, 2023 - 2030
North America Wood Flooring Market Growth & Trends
The North America wood flooring market size is expected to reach USD 8.95 billion by 2030, expanding at a CAGR of 2.4% during the forecast period, according to a new report by Grand View Research, Inc. This growth can be attributed to Increasing demand for aesthetically, superior and durable floor covering solutions, and consumer trends in floor design.
The expansion of offices & workspaces, improving consumer lifestyle, and rapid urbanization are factors that have also contributed to the market growth in the region. Additionally, the significant & continual growth of high-end residential housing structures and the subsequent and growing preference for single-family housing structures are driving the demand for wood flooring in North America.
Factors such as the growing consumer demand for innovative buildings with modern technologies improved aesthetic appeal, and better energy efficiency are expected to drive the demand for flooring products for their use in residential construction during the forecast period. Furthermore, there is growth in the construction of green buildings in the U.S. and Canada owing to the rising awareness related to the energy efficiency of buildings and improved indoor air quality. This is projected to drive sustainable building construction activities in North America, which, in turn, is projected to have a positive impact on the demand for wood flooring products owing to their low VOC emission properties.
The residential application segment is expected to attract major demand for wood flooring in North America. The growth of residential construction is attributed to the growing population, rapid urbanization, and increasing rate of migration in various countries of North America such as the U.S. and Canada. Furthermore, rising spending on renovation, repair, and interior, is further expected to propel the demand for wood flooring in residential applications in North America.
Companies including Mohawk, Armstrong, Shaw Floors, Mannington Mills, and Pergo are some of the key manufacturers of flooring solutions in the North American market. The manufacturing process starts with tree selection. The wooden logs obtained from the trees are closely inspected for their knots and grain pattern to obtain an aesthetically superior end product. Generally, the logs with fewer knots and tight grain patterns are selected for the production process.
North America Wood Flooring Market Report Highlights
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