Dublin, Oct. 09, 2023 (GLOBE NEWSWIRE) -- The "Hardwood Flooring Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global hardwood flooring market size reached US$ 47.4 Billion in 2022. Looking forward, the market is set to reach US$ 61.1 Billion by 2028, exhibiting a growth rate (CAGR) of 3.9% during 2023-2028.
Hardwood flooring comes in a wide range of styles, colors, cuts, and species, offering versatile options and designs to consumers. The unique appearance and texture of wood bring aesthetic appeal to floors. Additionally, hardwood floors are highly durable and have a longer lifespan after installation. They are also convenient to install and require minimal routine maintenance.
The thriving construction industry plays a pivotal role in driving market growth. With rapid population growth, there is a significant demand for housing facilities, leading to a surge in residential construction projects worldwide.
Governments of various countries, along with private stakeholders, are making substantial investments in the development of advanced infrastructure, further fueling market growth. Additionally, there is a growing preference for aesthetically pleasing and sophisticated interiors, particularly among urban populations, which contributes to increased sales of hardwood flooring.
Manufacturers are responding to this trend by introducing innovative flooring designs with vibrant and soothing color combinations to cater to diverse consumer preferences.
Another significant factor driving market growth is the emerging trend of renovating and remodeling existing residential and commercial spaces. This trend, coupled with rising disposable incomes and improving living standards, contributes to market expansion. Currently, North America leads the market, holding the largest market share.
The report also provides an analysis of the competitive landscape within the market. Some of the top hardwood flooring companies in the industry include AHF, LLC, UNILIN, Beaulieu International Group, Classen, FRITZ EGGER GmBH & Co. OG, and Formica Group.
Key Questions Answered in This Report:
- How has the global hardwood flooring market performed so far, and how will it perform in the coming years?
- What are the key regions in the market?
- What has been the impact of COVID-19 on the global hardwood flooring market?
- What is the market breakup based on the end-use sector?
- What is the market breakup based on the raw material?
- What are the various stages in the value chain of the market?
- What are the key drivers and challenges in the market?
- What is the level of competition in the market?
- Who are the key players in the market?
- What are the margins in hardwood flooring?
- What are the raw material requirements for hardwood flooring?
- What are the various unit operations involved in a hardwood flooring manufacturing plant?
- What is the total size of land required for setting up a hardwood flooring manufacturing plant?
- What are the machinery requirements for setting up a hardwood flooring manufacturing plant?
- What are the packaging requirements for hardwood flooring?
- What are the transportation requirements for hardwood flooring?
- What are the utility requirements for setting up a hardwood flooring manufacturing plant?
- What are the manpower requirements for setting up a hardwood flooring manufacturing plant?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 144 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $47.4 Billion |
| Forecasted Market Value (USD) by 2028 | $61.1 Billion |
| Compound Annual Growth Rate | 4.3% |
| Regions Covered | Global |
Hardwood Flooring Manufacturing Process
- Product Overview
- Detailed Process Flow
- Various Types of Unit Operations Involved
- Mass Balance and Raw Material Requirements
- Land and Construction Requirements
- Machinery Requirements
- Machinery Pictures
- Raw Material and Final Product Pictures
- Packaging Requirements
- Transportation Requirements
- Utilities Requirements
- Manpower Requirements
Competitive Landscape
- AHF
- LLC
- UNILIN
- Beaulieu International Group
- Classen
- FRITZ EGGER GmBH & Co. OG
- Formica Group
Key Market Segmentation:
Breakup by End-Use Sector:
At present, the commercial sector exhibits a clear dominance in the market.
- Residential Sector
- Commercial Sector
Breakup by Raw Material:
Amongst these, red oak accounts for the majority of the total market share.
- Red Oak
- White Oak
- Maple
- Others
Regional Insights:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/ka9jq6
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