Rugs & Carpets Market Size Worth USD 132.23 Billion By

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New York, U.S., Oct. 10, 2022 (GLOBE NEWSWIRE) — Market overview

Market Research Future (MRFR) report highlights “Rugs and carpets market Information by Material Type, Product Type, End Use and Region – Forecast to 2030“; the market will reach $132.23 billion by 2030, growing at a CAGR of 4.12%.

Market summary

Rugs and carpets are frequently used in homes and other places to spruce up a room or hallway. Many grocery stores carry rugs in different hues, patterns, and textures. This encourages customers to buy these products. Plush rugs are incredibly popular among households for decorating living rooms. For their aesthetic appeal and practical qualities, such as slip resistance and thermal insulation of the floor, carpets and rugs are used. Carpets and rugs provide a protective layer for floors in addition to covering them and enhancing the overall beauty of the interior design of a home or workplace.

Rugs and carpets are used in regions with predominantly cold climates to prevent the floor from becoming too cold. The demand for carpets and rugs peaked in industrialized economies a few decades ago. However, in recent years, this pattern has changed, with people investing more money to make aesthetic changes to their homes or workplaces. The easing of the economic crisis, which has led to an upsurge in demand for carpets and rugs, has also played a role in this desire to some extent. Additionally, increasing disposable income of customers, especially in developing countries, will likely support the expansion of the market.

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Report Scope:

Report attribute Details
Market size 2030 $132.23 billion
CAGR 4.12% (2022-2030)
Year of reference 2021
Forecast period 2022-2030
Historical data 2020
Forecast units Value (USD billion)
Report cover Revenue forecasts, competitive landscape, growth factors and trends
Segments Covered By material type, product type, end use and region
Geographical areas covered North America, Europe, Asia-Pacific and Rest of the World (RoW)
Key Market Drivers Increase renovation and remodeling activities
Growing at a high rate in residential areas as well

Market Competitive Landscape:

Core companies in the rugs and carpets market are:

  • Carpet Tai Ping International Limited (Hong Kong)
  • Interface, Inc. (USA)
  • Beaulieu International Group (Belgium)
  • Engineered Floors LLC (USA)
  • Milliken & Company (USA)
  • Oriental Weavers Carpet Co. (Egypt)
  • Royalty Carpet Mills, Inc. (USA)
  • Ikea Group (Netherlands)
  • Shaw Industries Group, Inc. (USA)
  • Mohawk Industries, Inc. (USA)
  • Lowe’s Companies, Inc. (USA)
  • Tarkett SA (France)
  • Genie Carpet Manufacturers (India)
  • Dixie Group, Inc. (USA)
  • Victoria PLC (UK)

Covered USP market:

Market factors:

The companies offer a selection of rug and carpet styles that are particularly suitable for different types of flooring, including laminate, tile and wood parquet. The market for smart rugs and carpets is expected to be driven by the growing need for modern housing facilities and home decor preferences of the global population. Furthermore, higher standard of living and increased urbanization are two factors behind the increased demand for smart rugs and carpets among the population. The market is booming due to changing customer demand for eco-friendly floor mats made of materials like wool, bamboo and others.

However, the commercial expansion of well-known companies is expected to be limited by intense rivalry from local and unorganized players. The global rugs and carpets industry is expected to be driven by consumer preference for non-geometric designer patterns and bright, eye-catching colors in rugs and carpets in the coming years. Market trends are estimated to impact the global carpet and rug industry. Over the next few years, the global rugs and carpets market is expected to be driven by the growing demand for eco-friendly carpets, growing demand for modern carpets, and increasing usage of carpet tiles. In recent years, improvements have focused on making items more durable, adaptable and environmentally friendly while making them easier to install and maintain.

Market constraints:

Additionally, a slight decrease in consumer demand for carpet and rug products was caused by the COVID-19 lockdown restrictions at an unknown time.

Browse the in-depth market research report (90 pages) on rugs and carpets: https://www.marketresearchfuture.com/reports/carpet-and-rugs-market-4154

COVID 19 analysis

Like any other market, the rug and carpet industry has been negatively impacted by the COVID pandemic. The impact and disappointment of sales demand. To address this, the government and major players in the Rugs and Carpets market have started strategizing to create growth projections for the next forecast years. The major market players have used various strategies to liberate their businesses from the negative effects of covid. As a result, market share in sales stabilized.

Market segmentation

On the basis of materials, the market is segmented into nylon, cotton, silk, wool, polyester, jute, and polypropylene.

Based on end user, the market is segmented into residential and commercial.

Based on product type, the market is segmented into woven, knotted, tufted and needlepunched.

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Regional outlook

The market has grown considerably thanks to North America. In North America, the United States is expected to continue to grow over the projection period. Due to the high consumer interest in interior design, there has been a tremendous increase in market trends in the United States. In addition to all these facts, the increasing renovation and remodeling of the real estate industries are also propelling the expansion of the market. After North America, Asia-Pacific countries drove the market expansion. The rapid real estate boom increases the demand for carpets. China is planning the expansion of an important market in Asia-Pacific countries. The market is booming due to rapid urbanization, increasing population and interest in interior design.

Due to the large consumer demand for updated smart home facilities in countries like the United States and Canada, the North American region is expected to account for a major share of the global market. Additionally, a higher standard of living among the local population contributes to the region’s high consumer demand for these goods. Due to strong government aid for the construction of transport facilities like trains, buses and airports in countries like India, Vietnam and Indonesia, the Asia-Pacific region is expected to see the most growth. rapidly over the projection period. This will likely increase demand for the region’s typical vinyl floor mats used in buses, trains and airplanes. Additionally, the region’s rapidly expanding consumer trends for home renovation and decoration projects and higher living standards are expected to fuel the expansion of the market.

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