Carpet and Rug Market: Trends, Opportunities and Competitive Analysis

Carpet and Rug Market: Trends, Opportunities and Competitive Analysis

Carpet and Rug Market Trends and Forecast

The future of the global carpet and rug market looks good with opportunities in residential, non-residential, and transportation sectors. The global carpet and rug market is expected to reach an estimated $48.6 billion by 2027, and it is forecast to grow at a CAGR of 3.1% from 2022 to 2027. The major drivers of growth for this market are the growth in construction and transportation industry and an increase in renovation activities. Consumers are moving towards bold attractive colors and non-geometrical designer patterns of carpet and rugs which also help to drive the demand in the market.

Emerging Trends in Carpet and Rug Market

Emerging trends, which have a direct impact on the dynamics of the industry, include increasing acceptance of carpet tiles and increasing demand for eco-friendly carpets.

A total of 204 figures / charts and 45 tables are provided in this 233-page report to help in your business decisions. A sample figure with some insights is shown below. To learn the scope of, benefits, companies researched and other details of carpet and rug market report, please download the report brochure. Growth in various segments of the carpet and rug market are given below:

Carpet and Rug Market by Segment

In this market, residential will be the largest end use segment, whereas tufted will remain the largest product segment.

The study includes trends and forecast for the carpet and rug market by material, product, end use, and region as follows:

Carpet and Rug Market by Product [$M Shipment from 2016 to 2027]:

• Woven
• Tufted
• Knotted
• Others

Carpet and Rug Market by End Use [$M Shipment from 2016 to 2027]:

• Residential
• Non-Residential
• Healthcare
• Education
• Hospitality
• Retail
• Office
• Others
• Transportation

Carpet and Rug Market by Material [$M Shipment from 2016 to 2027]:

• Nylon
• Polyester
• Polypropylene
• Others

Carpet and Rug Market by Region [$M Shipment from 2016 to 2027]:

• North America
• Europe
• APAC
• ROW

List of Carpet and Rug Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, carpet and rug companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the carpet and rug companies profiled in this report include-

• Mohawk Industries, Inc.
• Shaw Industries
• Interface
• Oriental Weavers Group
• Tarkett

Carpet and Rug Market Insights

• Lucintel forecasts that tufted is anticipated to be the largest product segment in the global carpet and rug market over the forecast period, due to its low price with a variety of designs
• Within the global carpet and rug market, residential, non- residential, and transportation are the major end use segments. The residential end use segment is expected to remain the largest and fastest growing market by value and volume. Growth in demand for carpets and rugs is largely dependent on housing renovation and new residential construction, which are the major factors that would spur growth for this segment over the forecast period.
• North America will remain the largest region during the forecast period, due to continuous growth in residential and commercial building construction activities. Asia Pacific is expected to witness the fastest growth over the forecast period due to development of infrastructure facilities and a surge in the real estate industry.

Features of the Carpet and Rug Market

• Market Size Estimates: Carpet and rug market size estimation in terms of value ($B) and volume (M Sqm).
• Trend and Forecast Analysis: Market trends (2016-2021) and forecast (2022-2027) by various segments and regions.
• Segmentation Analysis: Carpet and rug market size by various segments, such as product, material, and end use.
• Regional Analysis: Carpet and rug market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis on growth opportunities in different products, materials, end uses, and regions for carpet and rug market.
• Strategic Analysis: This includes M&A and competitive landscape for carpets and rugs.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the carpet and rug market size?

Answer: The global carpet and rug market is expected to reach an estimated $48.6 billion by 2027.

Q2. What is the growth forecast for carpet and rug market?

Answer: The carpet and rug market is expected to grow at a CAGR of ~3% from 2022 to 2027.

Q3. What are the major drivers influencing the growth of the carpet and rug market?

Answer: The major drivers of growth for this market are the growth in construction and transportation industry and an increase in renovation activities. Consumers are moving towards bold attractive colors and non-geometrical designer patterns of carpet and rugs which also help to drive the demand in the market.

Q4. What are the major applications or end use industries for carpets and rugs?

Answer: Residential, non-residential, and transportation are the major end uses of carpets and rugs.

Q5. What are the emerging trends in carpet and rug market?

Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include increasing acceptance of carpet tiles and increasing demand for eco-friendly carpets.

Q6. Who are the key carpet and rug companies?

Answer: Some of the key carpet and rug companies are as follows:

• Mohawk Industries, Inc.
• Shaw Industries
• Interface
• Oriental Weavers Group
• Tarkett

Q7.Which will be the largest product segment of the carpet and rug market in the forecast period?

Answer: Lucintel forecasts that tufted is anticipated to be the largest product segment in the global carpet and rug market over the forecast period, due to its low price with a variety of designs.

Q8: In carpet and rug market, which region is expected to be the largest in the forecast period?

Answer: North America will remain the largest region and Asia Pacific will witness the fastest growth over the forecast period.

Q9. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

Q.1 What are some of the most promising potential, high-growth opportunities for the carpet and rug market by product (woven, tufted, knotted, and others), end use (residential, non-residential [healthcare, education, hospitality, retail, office, and other], and transportation), material (nylon, polyester, polypropylene, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2 Which segments will grow at a faster pace and why?

Q.3 Which regions will grow at a faster pace and why?

Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the carpet and rug market?

Q.5 What are the business risks and threats to the carpet and rug market?

Q.6 What are emerging trends in this carpet and rug market and the reasons behind them?

Q.7 What are some changing demands of customers in the carpet and rug market?

Q.8 What are the new developments in the carpet and rug market? Which companies are leading these developments?

Q.9 Who are the major players in the carpet and rug market? What strategic initiatives are being implemented by key players for business growth?

Q.10 What are some of the competitive products and processes in the carpet and rug market, and how big of a threat do they pose for loss of market share via material or product substitution?

Q.11 What M&A activities did take place in the last five years in the carpet and rug market?

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