Houston, TX, Aug. 31, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Carpet Tiles Market By Type (Square And Rectangle), By Application (Residential, Commercial, And Others), By Distribution Channel (Retail Store And Online), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.
“According to the latest research study, the demand of global Carpet Tiles Market size & share in terms of revenue was valued at USD 12.5 billion in 2022 and it is expected to surpass around USD 20.6 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 6.5% during the forecast period 2023 to 2030.”
What are Carpet Tiles? How big is the Carpet Tiles Industry?
Report Overview:
The global carpet tiles market size was worth around USD 12.5 billion in 2022 and is predicted to grow to around USD 20.6 billion by 2030 with a compound annual growth rate (CAGR) of roughly 6.5% between 2023 and 2030.
Carpet tiles, also known as modular carpets or square carpets, are squares that are cut from wall-to-wall rolls and can be assembled together to form a carpet. Other names for carpet tiles include square carpets and modular carpets. Carpet tiles are typically sold in the following dimensions: 48 square inches, 50 square inches, 60 square inches, and 96 square inches. Installation is made more complex and expensive by the availability of various shapes and sizes, such as hexagons and triangles, which are sold by some companies that manufacture carpet tiles. Carpet tiles are a popular choice for the flooring in public places like restaurants and bars, in addition to being utilised in a variety of other straightforward endeavours. It is possible to use carpet tiles as an alternative to wall-to-wall carpeting in virtually any circumstance in which specific customization is not required. Carpet tiles offer simple installation and maintenance, longevity, and the same qualities as wall-to-wall carpeting in terms of producing a healthy and comfortable interior environment.
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Global Carpet Tiles Market: Growth Factors
The expansion of the market is driven by the adaptability of the designs and the simplicity of the installations.
Carpet tiles are available in a wide range of colours, patterns, textures, and materials, which opens the door to an infinite number of potential design applications. Due to the versatility of the design, homeowners, interior designers, and architects are able to create unique and aesthetically appealing flooring designs that suit their own personal aesthetic preferences and existing interior decor. Carpet tiles are also easy to install because they are modular, which makes them suitable for even the most intricate of floor plans. When compared to installing traditional broadloom carpets, the installation process for modular carpeting is both quicker and requires less people to complete. In addition, if a tile is stained or broken, it may be changed individually rather than having to replace the entire carpet, which can bring the cost of upkeep down significantly. As a result, the expansion of the global market for carpet tiles is anticipated to be driven by the characteristics of carpet tiles themselves during the course of the projected period.
The Carpet Tiles Market: Limiting Factors
The market is being hurt by the growing competition from various kinds of flooring.
During the time of forecast, it is anticipated that the expansion of the market would be hampered by the intensifying competition from various other types of flooring. The many different kinds of flooring that are available, such as luxury vinyl tiles (LVT), luxury vinyl planks (LVP), and hardwood. The fact that each of these flooring choices comes with its own unique set of benefits and design possibilities has the potential to sway customer preferences, which would, in turn, hinder the revenue growth of the carpet tiles business over the course of the projection period.
The Opportunities Present in the Carpet Tiles Market
The increasing number of product launches presents an excellent business potential for market expansion.
It is anticipated that the rising number of innovative product launches will present a lucrative opportunity for the expansion of the carpet tiles market throughout the course of the projected year. For example, in February of 2023, Tarkett worked along with the Dutch design research firm Studio RENS to produce DESSO X RENS, which is an innovative method to the reuse of materials. This collection adds a new design dimension with the goal of eliminating waste and maximising the use of materials already in existence. It is crafted from discarded carpet tiles of the most widely used variants of the material.
This collection is evidence of their commitment to developing circular carpet tiles. DESSO X Rens features a backing called EcoBase that is constructed of recycled materials and is both recyclable and made up of 80% recovered chalk from the local drinking water industry. In the event that the carpet tiles reach the end of their serviceable life, the manufacturing facility of the firm that made them in Waalwijk, the Netherlands, may recycle them into a new raw material. As a result, the introduction of products such as these to the market will be a primary driver of revenue growth in the years to come.
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Report Scope
| Report Attribute | Details |
| Market Size in 2022 | USD 12.5 billion |
| Projected Market Size in 2030 | USD 20.6 billion |
| CAGR Growth Rate | 6.5% CAGR |
| Base Year | 2022 |
| Forecast Years | 2023-2030 |
| Key Market Players | Forbo Flooring Systems, Skytouch Ceramic Pvt Ltd., ANISA CARPETS, Hego, FLOR, Voxflor, Knotsindia, Tarkett, Burmatex Ltd., Paragon Carpet Tiles & Mat. Works, Interface Inc., Japan Carpet Co. Ltd, Mohawk Industries, Abbey Carpet & Floor, Bentley Mills Inc., Beaulieu International Group, Mannington Mills Inc., The Dixie Group Inc., Shaw Industries Group Inc., Foss Floors, and others. |
| Key Segment | By Type, By Application, By Distribution Channel, and By Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Purchase Options | Request customized purchase options to meet your research needs. Explore purchase options |
Carpet Tiles Market: Segmentation Analysis
The market for Carpet Tiles is broken down into distinct submarkets according to characteristics such as product, application, distribution channel, and geography.
The worldwide market can be divided into squares and rectangles, depending on the product type being sold.
The residential sector accounts for the largest share of the global market for carpet tiles, followed by the commercial sector and other applications. Over the course of the projected period, it is anticipated that the residential sector would have the majority share of the market. The increased spending on home renovation projects, such as the removal of outmoded or out-of-style carpets and rugs, can be ascribed to rising levels of discretionary income in addition to a competitive edge over other flooring choices. The demand for carpet tiles will very probably go up as a result of this.
The aesthetic appeal as well as the value of a property can be improved with new carpeting. Carpet tiles and carpets are commonly used in newly constructed homes because of their reasonable prices, straightforward installation processes, and aesthetically pleasing appearances. Homeowners will continue to replace older or worn carpets and rugs with newer items that offer improved visuals or improved stain resistance, which will continue to account for the bulk of carpet and rug demand. Residential remodelling and replacement will continue to account for the majority of carpet and rug demand.
The market for carpet tiles can be split into two distinct subsectors: those that operate in retail locations and those that operate exclusively online.
The global Carpet Tiles market is segmented as follows:
By Type
- Square
- Rectangle
By Application
- Residential
- Commercial
- Others
By Distribution Channel
- Retail Store
- Online
Browse the full “Carpet Tiles Market By Type (Square And Rectangle), By Application (Residential, Commercial, And Others), By Distribution Channel (Retail Store And Online), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030" Report At https://www.zionmarketresearch.com/report/carpet-tiles-market
Competitive Landscape
Some of the main competitors dominating the global Carpet Tiles market include -
- Forbo Flooring Systems
- Skytouch Ceramic Pvt Ltd.
- ANISA CARPETS
- Hego
- FLOR
- Voxflor
- Knotsindia
- Tarkett
- Burmatex Ltd.
- Paragon Carpet Tiles & Mat. Works
- Interface Inc.
- Japan Carpet Co. Ltd
- Mohawk Industries
- Abbey Carpet & Floor
- Bentley Mills Inc.
- Beaulieu International Group
- Mannington Mills Inc.
- The Dixie Group Inc.
- Shaw Industries Group Inc.
- Foss Floors
Key Insights from Primary Research:
- According to the analysis shared by our research forecaster, the Carpet Tiles market is likely to expand at a CAGR of around 6.5% during the forecast period (2023-2030).
- In terms of revenue, the Carpet Tiles market size was valued at around US$ 12.5 billion in 2022 and is projected to reach US$ 20.6 billion by 2030.
- The global Carpet Tiles market is expected to be driven by several factors such as growing disposable income and increased renovation activities in the most developed nations.
- Based on the application, the residential segment is expected to dominate the market over the forecast period.
- Based on region, North America is expected to dominate the market during the forecast period.
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Key questions answered in this report:
- What is the market size and growth rate forecast for Carpet Tiles industry?
- What are the main driving factors propelling the Carpet Tiles Market forward?
- What are the leading companies in the Carpet Tiles Industry?
- What segments does the Carpet Tiles Market cover?
- How can I receive a free copy of the Carpet Tiles Market sample report and company profiles?
Key Offerings:
- Market Size & Forecast by Revenue | 2023−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Type, By Application, By Distribution Channel, and By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Regional Analysis:
North America is expected to dominate the market during the forecast period
North America is expected to dominate the global carpet tiles market over the forecast period. One of the key reasons driving the growth of the carpets and carpet tile market is the fast expansion of building and housing activities throughout the area, notably in the United States. For instance, as of 2023, the number of construction businesses in the United States has increased by 2.5% from the previous year to 3,787,470. The number of enterprises in the construction sector in the United States increased at a 2.5% annual rate between 2018 and 2023.
One of the major reasons driving the growth of the carpet tile market in the United States is the high customer interest in interior décor. Aside from that, increased restoration and remodeling operations in the US real estate sector have resulted in significant demand for carpet tiles in recent years. The area has a high pace of innovation, which contributes to market growth. Therefore, this is expected to propel the market growth during the forecast period.
The Asia Pacific is expected to grow at the highest CAGR over the forecast period. The growth in the region is attributed to the growing disposable income of the population and the rising interest of consumers in aesthetically appealing products. For instance, according to the Ministry of Statistics and Programme Implementation, In India, disposable personal income climbed to USD 3,304,786.58 Million in 2022, up from USD 2,888,090.60 Million in 2021. Therefore, the aforementioned stats drive the market growth over the projection period.
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
To know an additional revised 2023 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/carpet-tiles-market
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