Dublin, March 06, 2024 (GLOBE NEWSWIRE) -- The "Global Carpets & Rugs Market 2023-2032" report has been added to ResearchAndMarkets.com's offering.
Key Findings from Global Carpets & Rugs Industry Report
The latest comprehensive industry research report provides an in-depth analysis of the global carpets and rugs market, highlighting expansion at a robust CAGR of 2.3% annually, with projections reaching a valuation of $63.7 billion by 2027. Illuminating the trends across different segments and geographic locales, the report encompasses detailed historical data and forecasts, from 2012 through 2032.
Table of Highlights
- Historical demand data and forecasts for carpets and rugs by product, production process, and market application.
- Detailed coverage of residential, nonresidential, and transportation market sectors.
- Insights on competitive analysis and market share among leading industry players.
Market Enhancements Supported by Regional Construction and Innovations
Construction Activities Driving Demand
The surge in the global carpets and rugs market is chiefly propelled by increased construction activities, especially within the rapidly developing regions of the Asia/Pacific and Africa/Mideast. Growth is anticipated not only in the residential sector but also across nonresidential buildings, with significant contributions expected from the transportation market as vehicle production rebounds post-pandemic challenges.
Shifts in Flooring Preferences Presenting New Opportunities
Despite facing stiff competition from hard surface flooring, strategies such as the rise of carpet tiles offer promising avenues, particularly in high-traffic commercial spaces. Additionally, cultural predilections and the continued preference for luxury aesthetics are dictating strong demand for woven rugs, especially in corporate, hospitality, and luxury residential segments.
Transportation Segment to Witness Healthy Rebound
The transportation sector, though smaller in comparison to other market verticals, is projected to make substantial gains. This bounce-back is primarily attributed to the recovery of the motor vehicle industry and the increasing application of needle punch carpeting in the sector.
Regional Production Insights
With a focus on global production dynamics, the industry report positions the Asia/Pacific region at the forefront of carpets and rugs manufacturing. It spotlights China and India's significant roles in bolstering this dominance alongside Japan's noteworthy contribution to automotive carpets and rugs. The report also sheds light on the rising prominence of Turkey as a key exporter, overtaking established markets in North America and Western Europe.
Significant International Trade & Pricing Trends
With a thorough examination of the international trade scenario, the study points to Turkey's ascension as a global export leader, while noting major importers including the US and multiple Western European nations. It further explores the complexities affecting global average prices for carpets and rugs, such as raw materials costs, energy, and currency valuations.
The publication of this comprehensive carpets and rugs market dossier promises to deliver valuable insights for businesses, investors, and policy-makers aiming to navigate the dynamic landscape of this industry.
Contact: For queries or more information regarding this report, please utilize the contact details provided on our website.
Key Topics Covered
- Executive Summary
- About This Report
- Overview
- Factors Impacting Flooring Demand
- Tufted Carpets & Rugs
- Woven Carpets & Rugs
- Other Carpets & Rugs
- Residential Carpets & Rugs
- Nonresidential Carpets & Rugs
- Transportation Carpets & Rugs
- North America
- Central & South America
- Western Europe
- Eastern Europe
- Asia/Pacific
- Africa/Mideast
- Appendix
Companies Mentioned
- Engineered Floors
- Mohawk Industries
- Shaw
For more information about this report visit https://www.researchandmarkets.com/r/w9o0ux
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Attachments
- Global Carpet & Rug Demand, 2000-2022 (million square meters)
- Global Carpet & Rug Demand by Product, 2012, 2017, 2022, 2027, & 2032 (million square meters)
