USD 137.83 billion
Commercial Flooring Market Size, Share, Growth Analysis, By Type(vinyl, carpet, wood, tile), By Application(healthcare, education, retail, hospitality), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25F2033 |
Region:
Global |
Published Date: March, 2024
Pages:
223
|Tables:
68
|Figures:
75
Commercial Flooring Market Insights
Global Commercial Flooring Market size was valued at USD 137.83 billion in 2022 and is poised to grow from USD 144.45 billion in 2023 to USD 210.18 billion by 2031, growing at a CAGR of 4.8% during the forecast period (2024-2031).
The global commercial flooring market is witnessing steady growth driven by factors such as rapid urbanization, industrialization, and commercial construction activities worldwide.
The market is fueled by the increasing demand for aesthetically appealing and durable flooring solutions in various commercial sectors such as offices, retail spaces, healthcare facilities, hospitality venues, and educational institutions.
The growing emphasis on sustainable and eco-friendly flooring materials, coupled with advancements in flooring technology and designs, is also driving market growth.
However, the market faces challenges such as fluctuating raw material prices and stringent environmental regulations. Nonetheless, the rising adoption of innovative flooring solutions, including luxury vinyl tiles, carpet tiles, and epoxy flooring, is expected to propel the market in the coming years.
US Commercial Flooring Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
vinyl
Fastest Growth
vinyl
Growth Rate
4.8% CAGR
Global Commercial Flooring Market ($ Bn)
Country Share for North America Region (%)
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Commercial Flooring Market Segmental Analysis
The global commercial flooring market is segmented by type, application, and region. Based on type, the market can be segmented into vinyl, carpet, wood, tile, and laminate flooring. Based on application, the market is segmented into healthcare, education, retail, hospitality, offices, and sports facilities. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Type
The dominant sub-segment in the type category of the commercial flooring market varies depending on factors such as region and industry. However, vinyl flooring is often considered a dominant choice due to its versatility, durability, and affordability. It is widely used in various commercial applications across different sectors.
The fastest-growing sub-segment in the type category is sustainable flooring options. With the increasing focus on environmental sustainability, there is a rising demand for commercial flooring materials that are eco-friendly and made from renewable or recycled sources. This includes options such as recycled carpet tiles, bamboo flooring, and cork flooring. As businesses and organizations prioritize sustainable practices, the demand for environmentally friendly flooring materials continues to grow.
Analysis by Application
The dominant sub-segment in the application category of the commercial flooring market is the healthcare sector. Healthcare facilities require specialized flooring solutions that meet stringent regulations and standards, such as infection control, slip resistance, and durability. As the healthcare industry continues to grow, the demand for commercial flooring in this sector remains high.
The fastest-growing sub-segment in the application category is the sports facilities sector. This includes arenas, gyms, stadiums, and recreational centers. Sports flooring needs to be resilient, shock-absorbent, and provide excellent traction to prevent injuries. With the increasing focus on sports and fitness activities worldwide, the demand for commercial flooring solutions for sports facilities is witnessing significant growth.
Global Commercial Flooring Market By Type
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Commercial Flooring Market Regional Insights
One dominant region in the global commercial flooring market is North America. The region has a mature and well-established construction industry, which drives the demand for commercial flooring solutions. North America is characterized by a high demand for advanced flooring materials in various commercial sectors such as office spaces, healthcare facilities, educational institutions, retail outlets, and hospitality establishments. The presence of key market players, technological advancements, and stringent regulations for workplace safety and sustainability further contribute to the dominant position of North America in the commercial flooring market.
One of the fastest growing regions in the global commercial flooring market is the Asia-Pacific. The region is experiencing rapid urbanization, population growth, and economic development, leading to an increased demand for commercial spaces and infrastructure projects. The expanding retail sector, commercial office spaces, hospitality industry, and healthcare facilities in countries like China, India, and Southeast Asian nations contribute to the growing demand for commercial flooring solutions. Furthermore, the adoption of modern construction practices and the emphasis on sustainable and eco-friendly flooring materials drive the growth of the commercial flooring market in the Asia-Pacific region.
Global Commercial Flooring Market By Region
- Largest
- Fastest
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Commercial Flooring Market Dynamics
Drivers
Growth In The Construction And Renovation Activities
- One key driver of the global commercial flooring market is the growth in the construction and renovation activities across commercial sectors such as offices, retail, healthcare, and hospitality. The increasing demand for aesthetically appealing and durable flooring solutions in commercial spaces drives the market growth. Additionally, the rising emphasis on sustainable and environmentally friendly flooring materials, such as recycled or bio-based materials, further fuels the market. Technological advancements in flooring materials, such as improved durability, ease of installation, and maintenance, also contribute to the market growth.
Restraints
High Initial Cost Associated With Premium Flooring Materials And Installation
- One restraint of the global commercial flooring market is the high initial cost associated with premium flooring materials and installation. High-quality and specialized flooring materials, such as natural stone, hardwood, or luxury vinyl, can be expensive, making them less accessible for cost-sensitive commercial projects. Additionally, the installation process often requires skilled labor and specialized equipment, adding to the overall cost. Furthermore, the market competitiveness and price pressure in the commercial flooring industry can limit profit margins for manufacturers and suppliers. Economic downturns or fluctuations in the construction sector can also impact the demand for commercial flooring, presenting a restraint to the market.
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Commercial Flooring Market Competitive Landscape
The global Commercial Flooring market is characterized by a mix of established companies and emerging players. Market participants are focusing on research and development activities to enhance the efficiency and performance of Commercial Floorings. Additionally, strategic collaborations, partnerships, and mergers and acquisitions are prevalent strategies adopted by companies to expand their market presence. The competitive environment is further influenced by factors such as technological advancements, government regulations, and the ability to provide cost-effective and sustainable solutions.
Top Player’s Company Profiles
- Mohawk Industries, Inc. (United States)
- Shaw Industries Group, Inc. (United States)
- Tarkett Group (France)
- Interface, Inc. (United States)
- Armstrong World Industries, Inc. (United States)
- Forbo Holding AG (Switzerland)
- Gerflor (France)
- Milliken & Company (United States)
- Mannington Mills, Inc. (United States)
- J+J Flooring Group (United States)
- Nora Systems GmbH (Germany)
- Parterre Flooring Systems (United States)
- Fritztile by Expanko (United States)
- Shaw Contract Group (United States)
- Altro Ltd. (United Kingdom)
- Crossville, Inc. (United States)
- Daltile (United States)
- Karndean Designflooring (United Kingdom)
- Roppe Corporation (United States)
- Bentley Mills, Inc. (United States)
Recent Developments
- December 2022: A flooring company introduces antimicrobial commercial flooring that incorporates silver ion technology, providing hygienic and easy-to-clean surfaces suitable for healthcare facilities and high-traffic areas.
Commercial Flooring Key Market Trends
- One key market trend in the global commercial flooring market is the rising demand for sustainable and eco-friendly flooring solutions. With increasing awareness about environmental concerns and the need to reduce carbon footprint, businesses across various industries are seeking flooring options that are not only visually appealing but also environmentally responsible.
Commercial Flooring Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The global commercial flooring market is experiencing significant growth due to several factors such as increasing construction activities, rising demand for aesthetically appealing and durable flooring solutions, and the growing emphasis on eco-friendly and sustainable materials. Commercial flooring is widely used in various sectors such as healthcare, education, retail, hospitality, and office spaces. The market is driven by the need for functional and visually appealing flooring options that can withstand heavy foot traffic and offer ease of maintenance. Additionally, advancements in flooring technologies and the introduction of innovative products are fueling market growth. However, factors like high installation costs and the availability of alternative flooring options pose challenges to the market's expansion. Overall, the global commercial flooring market is expected to continue growing as the demand for modern and durable flooring solutions increases.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 137.83 billion |
| Market size value in 2031 | USD 210.18 billion |
| Growth Rate | 4.8% |
| 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 Commercial Flooring 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 Commercial Flooring 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 Commercial Flooring 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 Commercial Flooring 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 Commercial Flooring Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Commercial Flooring 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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