Pune, May 11, 2023 (GLOBE NEWSWIRE) -- Maximize Market Research, an international business & consultancy firm has recently published a research report on the “Carpets and Rugs Market”. The total global market size for the “Carpets and Rugs Market” was valued at USD 35.90 Bn in 2022 and is expected to grow at a CAGR of 4.7 percent over the forecast period to reach USD 49.52 Bn by 2029.
| Market Size in 2022 | USD 35.90 Bn |
| Market Size in 2029 | USD 49.52 Bn |
| CAGR | 4.7 percent (2023-2029) |
| Forecast Period | 2023-2029 |
| Base Year | 2022 |
| Number of Pages | 265 |
| No. of Tables | 129 |
| No. of Charts and Figures | 121 |
| Segment Covered | By Carpets and Rugs Products Type, Application, Material, Distribution Channel, Price Point and Region |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2023−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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Carpets and Rugs Market Report Scope and Research Methodology
The report presents an overview of the Carpets and Rugs Market shares, and major dynamics including drivers, restraints, and growth opportunities of the market. The report provides a regional and country-level analysis of the Carpets and Rugs Market. The carpets and Rugs Market report covers the market size and CAGR. The report provides market dynamics including market size, value, volume, revenue, sales, and other key responsible factors related to the Market. Every segment of the industry is evaluated on the basis of growth rate and share of the market. The key market companies by region, along with their revenue, financial status, and technical developments are analyzed for understanding the competitive landscape of the market. The bottom-up approach was used to estimate the Carpets and Rugs Market size. SWOT was used to analyze the strengths and weaknesses of the carpet and rugs industry.
Carpets and Rugs Market Overview
Carpet and Rugs are used for decorative textiles normally made of a thick material and now usually intended as a floor covering. In cold winter seasons, it helps to keep the feet warm due to its silk, material, and wool material form as well as its use to decorate the household living room with decorative purposes.
Growing the popularity of Carpets and Rugs due to their various styles availability to influence the market
Carpets and rugs are mostly used for decoration and to prevent moist flooring. The growth of disposable income and changing lifestyles and development in homes such as renovation, smart homes, etc. are primary factors, which are expected to drive the market growth. Digital printing technology and available features like colors and different patterns are driving the market for a long period. The eco-friendly and organic carpets and rugs demand is a fuelling trend across the world and is expected to boost industry growth.
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North America held the largest global Carpets and Rugs Market share in 2022
The regional Carpets and Rugs Market growth is driven by the adoption of smart homes, high-standard living people, and renovation as well as remodelling activities. Globalization and an increase in consumer interest in interior decoration, transportation and construction activities, and environment-free carpets are expected to accelerate the market growth during the forecast period.
Carpets and Rugs Market Segmentation
Based on the Product Type, the Tufted Carpets and Rugs segment is to dominate the market over the forecast period. Its perfect features and characteristics drive the segment growth. These rugs provide better comfort and beauty for the home. It is easy to available, affordable and various shapes as well as sizes, and colors are available in the market. Such factors are expected to drive the segment growth in the market during the forecast period.
Based on the Application, the residential segment held the largest market share with 60 % in 2022 and is expected to grow at a significant CAGR over the forecast period. This segment growth is driven by the increasing demand for home décor products across the world. It is used to strengthen the aesthetic appeal of a room and sound & thermal insulation.
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By Products Type:
• Woven
• Tufted
o Loop Pile
o Cut Pie
• Knotted
• Needle-Punched
• Flat-Weave
• Hooked
• Other
By Application:
• Residential
o Houses
o Apartments
o Condominium
o Other
• Commercial
o Hotels
o Shopping complexes
o Retail
o Offices
o Cinemas
o Mosques
• Automotive applications
o Car
o Mats
o Flooring
By Material
• Nylon
• Wool
• Silk
• Polyester
• Triexta
• Acrylic
• Polypropylene
• Other
By Distribution Channel
• Offline
• Online
By Price Point
• Premium
• Medium
• Economy
Carpets and Rugs Key Players include:
• Mohawk Industries, Inc.
• Shaw Industries Group Inc.
• Genie Carpet Manufacturers
• Royalty Carpet Cleaning & Flooring
• Inter IKEA Systems B.V.
• Beaulieu International Group
• Engineered Floors LLC
• Milliken & Company
• Lowe's
• Taekett
• Home Depot
• Interface, Inc.
• Dixie Group, Inc.
• Orientals Weavers
• Tai Ping
• Victoria PLC
• Saif Carpets Pvt. Ltd
• Genie Carpet Manufacturers
• KarpetsbyRKS
• Marwar Carpets International
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Key questions answered in the Carpets and Rugs Market are:
- What are Carpets and Rugs?
- What was the Carpets and Rugs Market Size in 2022?
- What is the expected carpet and Rugs Market size by 2029?
- What is the growth rate of the carpet and Rugs Market?
- What are the key benefits of the Carpets and Rugs Market?
- What are the new trends in Carpets and Rugs?
- Which segment dominated the Carpet and Rugs Market growth?
- What is the demand pattern for the Carpets and Rugs Market?
- What are the driving, opportunity and restraining factors in the global Carpets and Rugs Market?
- Which are the factors expected to drive the Carpet and Rugs Market growth?
- Which factors are expected to restrain the Carpet and Rugs Market growth?
- Which region held the largest share of the carpet and Rugs Market?
- Who are the key players in the Carpets and Rugs Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by Product Type, Application, Material, Distribution Channel, Price Point and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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