Carpet And Rug Market Is Anticipated To Grow At A Cagr Of 4.5% During 2023-2030

By Author: Lucintel LLC
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The global carpet and rug market is projected to reach $66 billion by 2030 at a CAGR of 4.5% during 2023-2030. The growth of carpet and rug market is driven by the growth in construction and transportation industry and an increase in renovation activities. Consumers are moving towards bold attractive colors and non-geometrical designer patterns of carpet and rugs which also help to drive the demand in the market.
Some of the key questions answered in this exclusive report are:
Q.1 What are some of the most promising, high-growth opportunities for the carpet and rug market by product (woven, tufted, knotted, and others), end use (residential, non-residential [healthcare, education, hospitality, retail, office, and others], and transportation), material (nylon, polyester, polypropylene, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 What are the business risks and threats to the carpet and rug market?
Q.4 What are some changing demands of customers in the carpet and rug market?
Q.5 What are ...
... the new developments in the carpet and rug market? Which companies are leading these developments?
Q.6 What strategic initiatives are being implemented by key players for business growth?
Q.7 What are some of the competitive products and processes in this carpet and rug area and how big of a threat do they pose for loss of market share via product substitution?
Q.8 What M&A activity has occurred in the last 5 years in this carpet and rug market?
Market Segmentation:
Based on product, the carpet and rug market is segmented into woven, tufted, knotted, and others. The tufted segment accounted for the largest share of the market in 2024 and is expected to register the highest CAGR during the forecast period, due to its low price with a variety of designs.
North America is expected to be the largest region with the highest growth over the forecast period due to continuous growth in residential and commercial building construction activities. Asia Pacific is expected to witness the fastest growth over the forecast period due to development of infrastructure facilities and a surge in the real estate industry.
Key Players in the carpet and rug market are Mohawk Industries, Inc., Shaw Industries, Interface, Oriental Weavers Group, and Tarkett.
The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth. It would also help to understand the competitors better and gain more insights to improve their position in the business.
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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