According to a new market report published by Lucintel, 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.
Browse 45 market data tables and 204 figures spread through 232 pages and in-depth TOC on “Global Carpet and Rug Market"
In this market, woven, tufted, and knotted are the major product segments. On the basis of comprehensive research, 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.
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. Mohawk Industries, Shaw Industries, Interface, Oriental Weavers Group, and Tarkett are among the major manufacturers of carpets and rugs.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global carpet and rug market by material, product, end use, and region, and has compiled a comprehensive research report entitled “Growth Opportunities in the Global Carpet and Rug Market 2022-2027: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global carpet and rug market by material, product, end use, and region, as follows:
By Product [$M Shipment from 2016 to 2027]:
•Woven
•Tufted
•Knotted
•Others
By End Use [$M Shipment from 2016 to 2027]:
•Residential
•Non-Residential
–Healthcare
–Education
–Hospitality
–Retail
–Office
–Others
•Transportation
By Material [$M Shipment from 2016 to 2027]:
•Nylon
•Polyester
•Polypropylene
•Others
By Region [$M Shipment from 2016 to 2027]:
•North America
•Europe
•APAC
•ROW
This 233-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/carpet-rug-market.aspx or write us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.
This report addresses the following key questions:
Q.1. What are some of the most promising, high growth opportunities for the global carpet and rug market by product (woven, tufted, knotted, and others), end use (residential, non-residential [healthcare, education, hospitality, retail, office, and others], and transportation), material (nylon, polyester, polypropylene, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which products segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market and which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are being taken by key companies for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by product substitution?
Q.11. What M&A activity did occur in the last five years?