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.
The study includes trends and forecast for the carpet and rug market by material, product, end use, and region as follows:
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:
Answer: The analyst 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, the analyst provides 10% customization without any additional cost.
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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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.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 [$M Shipment from 2016 to 2027]:
- North America
- Europe
- APAC
- ROW
List of Carpet and Rug Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, carpet and rug companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the carpet and rug companies profiled in this report include-- Mohawk Industries, Inc.
- Shaw Industries
- Interface
- Oriental Weavers Group
- Tarkett
Carpet and Rug Market Insights
- The analyst forecasts that tufted is anticipated to be the largest product segment in the global carpet and rug market over the forecast period, due to its low price with a variety of designs
- Within the global carpet and rug market, residential, non- residential, and transportation are the major end use segments. The residential end use segment is expected to remain the largest and fastest growing market by value and volume. Growth in demand for carpets and rugs is largely dependent on housing renovation and new residential construction, which are the major factors that would spur growth for this segment over the forecast period.
- North America will remain the largest region during the forecast period, due to continuous growth in residential and commercial building construction activities. Asia Pacific is expected to witness the fastest growth over the forecast period due to development of infrastructure facilities and a surge in the real estate industry.
Features of the Carpet and Rug Market
- Market Size Estimates: Carpet and rug market size estimation in terms of value ($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.
FAQS
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
Answer: The analyst 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, the analyst provides 10% customization without any additional cost.
This report answers the 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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Table of Contents
1. Executive Summary
2. Carpet and Rug Market Background and Classifications
3. Market Trends and Forecast Analysis
4. Competitor Analysis
5. Growth Opportunities and Strategic Analysis
6. Company Profiles of Leading Players
Companies Mentioned
- Mohawk Industries Inc.
- Tarkett
- Tai Ping Carpets International Limited
- Shaw Industries, Inc.
- Mannington Mills, Inc.
- Beaulieu International Group
- Oriental Weavers Group
- The Dixie Group
- J+J Flooring Group
- Interface
Methodology
The analyst has been in the business of market research and management consulting since 2000 and has published over 600 market intelligence reports in various markets/applications and served over 1,000 clients worldwide. Each study is a culmination of four months of full-time effort performed by the analyst team. The analysts used the following sources for the creation and completion of this valuable report:
- In-depth interviews of the major players in the market
- Detailed secondary research from competitors’ financial statements and published data
- Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
- A compilation of the experiences, judgments, and insights of professionals, who have analyzed and tracked the market over the years.
Extensive research and interviews are conducted in the supply chain of the market to estimate market share, market size, trends, drivers, challenges and forecasts.
Thus, the analyst compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. The analyst then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process.
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