USD 55.28 billion
Carpet Market Size, Share, Growth Analysis, By Material(Wool, Nylon, Polyester, Polypropylene), By Product(Woven Carpets, Tufted Carpets, Knotted Carpets, Needle-Felt Carpet), By Application(Residential, Commercial, Hospitality, Healthcare), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25S2047 |
Region:
Global |
Published Date: April, 2024
Pages:
223
|Tables:
97
|Figures:
76
Carpet Market Insights
Global Carpet Market size was valued at USD 55.28 billion in 2022 and is poised to grow from USD 60.82 billion in 2023 to USD 130.67 billion by 2031, growing at a CAGR of 10.03% in the forecast period (2024-2031).
The global carpet marketplace provides a dynamic landscape stimulated by means of various factors. Demand for carpets is pushed via the construction and actual estate sectors, both residential and commercial, as aesthetics and comfort play important roles in interior layout. Sustainable and eco-friendly materials are gaining prominence, reflecting a broader industry shift toward environmentally aware practices. Additionally, technological advancements in production techniques, inclusive of virtual printing, contribute to numerous design alternatives and customization. The Asia-Pacific region, witnessing strong urbanization and developing disposable income, emerges as a key marketplace contributor. However, financial fluctuations and the impact of the pandemic pose challenges, necessitating strategic edition in the international carpet marketplace.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Polyester
Fastest Growth
Nylon
Growth Rate
10.03% CAGR
Global Carpet Market ($ Bn)
Market Share For Asia Pacific Region (%)
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Carpet Market Segmental Analysis
The global Carpet market is segmented into four major segments i.e. by Material Type, Product Type, End-Use Application, and region. Based on Material, it is divided into Wool, Nylon, Polyester, Polypropylene, Others. Based on Product, it is bifurcated as Woven Carpets, Tufted Carpets, Knotted Carpets, Needle-Felt Carpet, Others. Based on End-Use it is segregated into, Residential, Commercial, Hospitality, Healthcare, Automotive, Others. Based on region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa
Analysis by Material
Polyester is possibly to dominate the market. This is because polyester carpets provide a value-powerful and versatile alternative, combining sturdiness with stain resistance. The fabric's popularity in residential and business applications, along with improvements in manufacturing technologies, contributes to its dominance.
Nylon might be the quickest-growing fabric type. Nylon carpets are acknowledged for his or her power, resilience, and huge variety of packages. As technology complements the overall performance traits of nylon, it turns into increasingly preferred in high-traffic areas, using its boom.
Analysis by Product
Tufted carpets are possibly to dominate the market. This is due to the fact tufted carpets are broadly utilized in each residential and business packages, supplying a value-powerful and versatile flooring answer. Their popularity is attributed to ease of manufacturing, various design options, and aggressive pricing, making them a desired desire for a wide client base.
The quickest-developing product kind may be clever or linked carpets. With advancements in generation, the mixing of smart capabilities together with sensors, heating factors, or interactive abilities in carpets is gaining attention. These modern products cater to the call for for home automation and smart living, riding their capacity for fast boom in the market.
Global Carpet Market By Material
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Carpet Market Regional Insights
Asia-Pacific is likely to dominate the carpet marketplace. This is attributed to fast urbanization, strong creation sports, and developing disposable incomes in international locations consisting of China and India. The call for for residential and commercial areas, coupled with a cultural affinity for carpets in certain areas, contributes to Asia-Pacific's dominance.
The Middle East and Africa will be the quickest-developing area. Increasing infrastructural development, especially within the Gulf countries, and a desire for high priced interiors make a contribution to the increase of the carpet market in this area. Additionally, tourism and hospitality sectors inside the Middle East regularly force demand for carpets, fostering marketplace growth.
Global Carpet Market Geography
- Largest
- Fastest
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Carpet Market Dynamics
Drivers
Increasing Expansion Of The Construction And Real Estate Sectors
- The enlargement of the construction and real estate sectors, each in residential and commercial spaces, serves as a number one driving force. The aesthetic appeal and luxury presented through carpets lead them to a sought-after floors answer in interior design. Additionally, a top notch trend driving the marketplace is the growing demand for sustainable and green substances, reflecting a broader enterprise shift in the direction of environmentally aware practices.
Restraints
High Environmental Impact Associated With Traditional Carpet Manufacturing Processes
- The aggressive surroundings of the Carpet marketplace is dynamic and s characterized by a numerous blend of set up gamers and progressive entrants, contributing to a dynamic and evolving industry. The key players leverage their brand popularity, production abilities, and distribution networks to maintain a aggressive side. The market also witnesses energetic participation from local and area of interest gamers, fostering range in product offerings and catering to precise client segments.
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Carpet Market Competitive Landscape
The competitive environment of the Carpet market is dynamic and s characterized by a diverse mix of established players and innovative entrants, contributing to a dynamic and evolving industry. The key players leverage their brand recognition, manufacturing capabilities, and distribution networks to maintain a competitive edge. The market also witnesses active participation from regional and niche players, fostering diversity in product offerings and catering to specific consumer segments.
Top Player’s Company Profiles
- Mohawk Industries (US)
- Shaw Industries Group, Inc. (US)
- Beaulieu International Group (Belgium)
- Oriental Weavers Group (Egypt)
- Tarkett (France)
- LGD (LG Hausys) (South Korea)
- Dixie Group (US)
- Engineered Floors, LLC (US)
- Interface, Inc. (US)
- Milliken & Company (US)
- Victoria (India)
- Oriental Weavers Carpets (India)
- Jaipur Rugs (India)
- Balta Group (Turkey)
- Tai Ping Carpets (China)
- Shandong Luyuan Carpet Co., Ltd. (China)
- Jiangsu Haixiang Group Co., Ltd. (China)
- Vorwerk & Co. KG (Germany)
- Akro Carpets (United Arab Emirates)
- Flooring Group Holdings Plc (UK)
Recent Developments
- August 2023: Condor Group, Europe's biggest carpet producer, is broadening its reach with the purchase of Hartex BV, which has lately confronted financial disaster. Condor is ready to collect the belongings and a enormous portion of the group of workers from Hartex, a distinguished international producer of top rate woven wall-to-wall carpets primarily based in Blokzijl, Netherlands.
- October 2023: BoyarMiller is extremely joyful to announce the carried out sale of its purchaser, Redi Carpet, a outstanding country wide company of comprehensive flooring answers in the multifamily quarter, to HD Supply, a subsidiary of Home Depot.
Carpet Key Market Trends
- Rising Preference For Sustainable And Eco-Friendly Materials: The increasing choice for sustainable and eco-friendly substances in carpet production, reflecting a developing attention of environmental worries among purchasers. Technological improvements keep to play a pivotal function, with improvements along with virtual printing allowing a various range of layout alternatives and customization. Smart carpets, incorporating era like sensors or interactive elements, are gaining traction, aligning with the broader fashion of integrating era into normal products.
Carpet Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
Global Carpet market evaluation exhibits a dynamic marketplace with a number of standout traits and problems. The market is propelled by sturdy creation interest, each residential and industrial, emphasizing aesthetics and luxury. Sustainable materials and technological advancements, like digital printing, contribute to diverse design alternatives. Economic fluctuations and a shift towards opportunity flooring alternatives act as restraints.
Tufted carpets dominate because of versatility, even as the Asia-Pacific location leads, driven through fast urbanization. Key traits encompass a developing call for for green alternatives, technological integration in clever carpets, and the popularity of modular and customizable solutions, reflecting the enterprise's dedication to sustainability and innovation.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 55.28 billion |
| Market size value in 2031 | USD 130.67 billion |
| Growth Rate | 10.03% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Carpet Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Carpet Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Carpet Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Carpet Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Carpet Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Carpet Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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