New York, United States , Aug. 31, 2024 (GLOBE NEWSWIRE) -- The Global Carpet Tiles Market Size is to Grow from USD 12.57 Billion in 2023 to USD 23.32 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 6.37% during the projected period.
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Carpet tiles, frequently referred to as carpet squares or modular carpets, are separate carpeting pieces that range in size from 12 by 12 inches to 24 by 24 inches. They are typically measured in squares. These tiles are affixed to the floor surface using adhesive or tackifier, they are easy to install and modify. The carpet tile industry provides a wide range of designs, colors, patterns, and materials to suit various practical requirements and aesthetic preferences in both home and business environments. Carpet tiles are a common flooring option for reasonably straightforward work and commercial spaces like restaurants and bars. The variety of colors, patterns, textures, and materials available for carpet tiles creates endless possibilities for design. Owing to its versatility, flooring is frequently used by architects, designers, and homeowners to create distinctive, eye-catching designs that complement their personal aesthetic and interior decor. Moreover, because carpet tiles are modular, they are easy to install when used in complex designs. However, most of flooring options have their advantages and design options, they could impact consumer choices and restrict the market potential growth in the forecast period for carpet tiles.
Browse key industry insights spread across 208 pages with 110 Market data tables and figures & charts from the report on the "Global Carpet Tiles Market Size, Share, and COVID-19 Impact Analysis, By Type (Square, Rectangle, and Others), By Application (Residential, Commercial, and Others), By Distribution Channel (Online and Offline), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The square segment is anticipated to hold the greatest share of the global carpet tiles market during the projected timeframe.
Based on type, the global carpet tiles market is divided into square, rectangle, and others. Among these, the square segment is anticipated to hold the greatest share of the global carpet tiles market during the projected timeframe. The square market is the outcome of the increasing availability of unique square carpet tiles in various colors and patterns.
The commercial segment is predicted to hold the greatest share of the global carpet tiles market during the estimated period.
Based on application, the global carpet tiles market is divided into residential, commercial, and others. Among these, the commercial segment is predicted to hold the greatest share of the global carpet tiles market during the estimated period. The global commercial sector creates a large amount of demand for carpet tiles due to the growing need for durable and simple-to-install commercial flooring materials.
The offline segment is anticipated to hold the greatest share of the global carpet tiles market during the projected timeframe.
Based on distribution channel, the global carpet tiles market is divided into online and offline. Among these, the offline segment is anticipated to hold a significant share of the global carpet tiles market during the projected timeframe. Due to customers often prefer a hands-on shopping experience when selecting different carpet tiles in various colors and designs for household or business end-users, offline distribution channels are becoming more and more popular.
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North America is expected to hold the largest share of the global carpet tiles market over the forecast period.
North America is expected to hold the largest share of the global carpet tiles market over the forecast period. North America's rapidly expanding infrastructure and rising construction activity are the main factors driving product adoption. There is a growing demand for carpet tiles in the North American market as a result of the real estate sector upgrades in the United States and Canada. Carpet tile market growth is mostly being driven by American consumers' increased interest in interior décor.
Asia Pacific is predicted to grow at the fastest pace in the global carpet tiles market during the projected timeframe. The primary drivers of the region's improvement are the population's rising disposable income and their burgeoning interest in fashionable products.
Europe is expected to hold a significant share of the global carpet tiles market over the forecast period. The European carpet tile market is supported by an increase in research and development activities within the carpet tile sector. Manufacturers in Europe are increasingly using eco-friendly materials to set their products apart from the competition.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global carpet tiles market include Interface Inc., Freudenberg Group, Milliken & Company, Tarkett, Hunan Tianxin Technology Co. Ltd., Beaulieu, Suminoe Textile Co. Ltd., Nabel Ceramics, EO Technology Co. Ltd., Shaw Industries Group, Japan Carpet Co. Ltd., Mohawk Industries, Abbey Carpet & Floor, Bentley Mills Inc., and Others.
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Recent Developments
- In July 2024, an exclusive multimedia event was organized in Dubai to celebrate the Middle East launch of Interface Inc.'s latest collections of luxury vinyl tiles (LVT) and carpet tiles, Etched & ThreadedTM and Earthen FormsTM, by the global leader in flooring solutions and sustainability.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global carpet tiles market based on the below-mentioned segments:
Global Carpet Tiles Market, By Type
- Square
- Rectangle
- Others
Global Carpet Tiles Market, By Application
- Residential
- Commercial
- Others
Global Carpet Tiles Market, By Distribution Channel
- Online
- Offline
Global Carpet Tiles Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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