Carpets and Rugs Market by End-user and Geography - Forecast and Analysis 2021-2025
- Published: Aug 2021
- Pages: 118
- SKU: IRTNTR40678
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The carpets and rugs market share is expected to increase by USD 5.03 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 2.59%.
This carpets and rugs market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers carpets and rugs market segmentations by end-user (residential and commercial) and geography (North America, APAC, Europe, MEA, and South America). The carpets and rugs market report also offers information on several market vendors, including Berkshire Hathaway Inc., Inter IKEA Holding BV, Interface Inc., Milliken and Company, Mohawk Industries Inc., Oriental Weavers Group, Tai Ping, Tarkett Group, The Dixie Group Inc., and Victoria Plc among others.
What will the Carpets And Rugs Market Size be During the Forecast Period?
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Carpets And Rugs Market: Key Drivers, Trends, and Challenges
Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The growth in number of residential and commercial construction activities is notably driving the carpets and rugs market growth, although factors such as intense competition from LVTs may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the carpets and rugs industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Carpets And Rugs Market Driver
One of the key factors driving the carpets and rugs market growth is the growth in the number of residential and commercial construction activities. The prospect of the housing industry looks positive, with the growth of the real estate industry. This is due to an increase in the disposable income of consumers and the growing GDP of and the improving employment scenarios in different countries. With the growth of the real estate industry worldwide, the number of residential and commercial construction activities has increased. This is driving the demand for home furnishings and other home decorative items. With increasing investments in housing units, the prospect of buying carpets and rugs appears positive during the forecast period. Furthermore, developing countries are interested in attracting global carpet and rug vendors to set up their operations in their local markets. This is bringing in new designs, styles, and varied home décor products to the local markets, thus inspiring consumers to buy carpets and rugs. This is expected to augment the growth of the market in focus during the forecast period.
Key Carpets And Rugs Market Trend
Another key factor driving the carpets and rugs market growth is the technological advances in carpets and rugs. There has been an increase in technological advances in carpets and rugs. For instance, luminous carpets are the latest trend in the market. Desso, a Tarkett-acquired company, has partnered with Koninklijke Philips NV (Philips) to develop luminous carpets. These carpets combine the light-emitting diodes (LEDs) by Philips with the light-transmissive carpets that are specially developed by Tarkett. Luminous carpets are durable and make a stylish flooring solution that can direct users with the help of the LED lights on the carpets. This carpet type has a good reception among corporate offices. For instance, Axel Springer SE (Axel Springer), a newspaper company in Germany, has adopted luminous carpets for its office in Berlin. Axel Springer uses luminous carpets in its office spaces to display the latest news on the floor. Furthermore, many significant players in the global carpets and rugs market are incorporating virtual reality (VR) in their offerings for better customer experiences. Such technological advances in carpets and rugs are expected to drive the growth of the market in focus during the forecast period.
Key Carpets And Rugs Market Challenge
Intense competition from LVTs is one of the key challenges hindering the carpets and rugs market growth. Commercial carpet and rug vendors are facing tough competition from the vendors of luxury vinyl tile (LVT). Almost all the major flooring manufacturers, such as Mohawk Industries Inc. (Mohawk), Shaw (a subsidiary of Berkshire Hathaway Inc.), Tarkett Group (Tarkett), and Mannington, are expanding their LVT portfolio, targeting the commercial construction sector. The demand for commercial carpets grew slowly in 2020. This slow growth can be primarily attributed to a surge in the use of LVTs in the commercial sector during the pandemic. Some years ago, LVTs were not preferred in the commercial sector because they contained phthalates, which are harmful to human health. However, later, the manufacturers of LVTs engineered new forms of phthalate-free LVTs (substituted phthalates with terephthalates or bio-based plasticizers). Even though the concerns about LVTs still prevent a large number of buyers from adopting these products, and LVTs cannot offer the same benefits offered by carpets and rugs, such as attached cushioning and a soft touch experience, the significant advantages that LVTs offer in terms of durability, maintenance, and lifecycle will limit the demand for carpets and rugs during the forecast period.
This carpets and rugs market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Parent Market Analysis
Technavio categorizes the global carpets and rugs market as a part of the global home furnishings market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the carpets and rugs market during the forecast period.
Who are the Major Carpets And Rugs Market Vendors?
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- Berkshire Hathaway Inc.
- Inter IKEA Holding BV
- Interface Inc.
- Milliken and Company
- Mohawk Industries Inc.
- Oriental Weavers Group
- Tai Ping
- Tarkett Group
- The Dixie Group Inc.
- Victoria Plc
This statistical study of the carpets and rugs market encompasses successful business strategies deployed by the key vendors. The carpets and rugs market is fragmented and the vendors are deploying growth strategies such as organic and inorganic strategies to compete in the market.
Product Insights and News
- Berkshire Hathaway Inc. - The company offers carpet products such as CF37423, YF03001, PC20102 and more.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The carpets and rugs market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Carpets And Rugs Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the carpets and rugs market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for Carpets And Rugs Market?
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36% of the market's growth will originate from APAC during the forecast period. China is the key markets for carpets and rugs in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Availability of low-cost carpets and the growing adoption of carpet tiles in commercial buildings will facilitate the carpets and rugs market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of the COVID-19 pandemic, followed by the imposition of lockdowns by several countries in 2020, severely impacted the logistics and supply chain operations in the region. Several countries such as China, India, Nepal, Pakistan, South Korea, Malaysia, Sri Lanka, and Australia were under either partial or full lockdowns due to the pandemic. All manufacturing industries were negatively affected, as their production units were closed. All these factors impacted the production of non-essential products, including carpets and rugs, during the first half of 2020. The demand for carpets and rugs also decreased during the pandemic, as consumers were giving high preference for the purchase of essential goods, such as food and medicines. Thus, the market in APAC experienced slow growth in terms of sales of carpets and rugs. However, the scenario is expected to get better by the end of 2021, owing to an increase in vaccination drives and resumption in the hospitality and real estate sectors, which are a major source of revenue for the market. This is expected to drive the growth of the regional market during the forecast period.
What are the Revenue-generating End-user Segments in the Carpets And Rugs Market?
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The carpets and rugs market share growth by the residential will be significant during the forecast period. This segment includes residential replacements and new residential fitments. The demand for carpets and rugs in the residential segment is rising significantly due to growing urbanization and the increasing disposable income of consumers.
Besides the above-mentioned factors, the post COVID-19 impact has brought forth a slowdown in or fast tracked the demand for the service or product. This report provides an accurate prediction of the contribution of all the segments to the growth of the carpets and rugs market size and actionable market insights on post COVID-19 impact on each segment.
Carpets And Rugs Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 2.59%
Market growth 2021-2025
$ 5.03 billion
YoY growth (%)
North America, APAC, Europe, MEA, and South America
Performing market contribution
APAC at 36%
Key consumer countries
US, China, UK, Canada, and Germany
Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled
Berkshire Hathaway Inc., Inter IKEA Holding BV, Interface Inc., Milliken and Company, Mohawk Industries Inc., Oriental Weavers Group, Tai Ping, Tarkett Group, The Dixie Group Inc., and Victoria Plc
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
What are the Key Data Covered in this Carpets And Rugs Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive carpets and rugs market growth during the next five years
- Precise estimation of the carpets and rugs market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the carpets and rugs industry across North America, APAC, Europe, MEA, and South America
- A thorough analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of carpets and rugs market vendors
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1 Executive Summary
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 01: Parent market
- Exhibit 02: Market characteristics
- 2.2 Value chain analysis
- Exhibit 03: Value chain analysis: Home furnishings
3 Market Sizing
- 3.1 Market definition
- Exhibit 04: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 05: Market segments
- 3.3 Market size 2020
- 3.4 Market outlook: Forecast for 2020 - 2025
- Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
- Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 08: Five forces analysis 2020 & 2025
- 4.2 Bargaining power of buyers
- Exhibit 09: Bargaining power of buyers
- 4.3 Bargaining power of suppliers
- Exhibit 10: Bargaining power of suppliers
- 4.4 Threat of new entrants
- Exhibit 11: Threat of new entrants
- 4.5 Threat of substitutes
- Exhibit 12: Threat of substitutes
- 4.6 Threat of rivalry
- Exhibit 13: Threat of rivalry
- 4.7 Market condition
- Exhibit 14: Market condition - Five forces 2020
5 Market Segmentation by End-user
- 5.1 Market segments
- Exhibit 15: End-user - Market share 2020-2025 (%)
- 5.2 Comparison by End-user
- Exhibit 16: Comparison by End-user
- 5.3 Residential - Market size and forecast 2020-2025
- Exhibit 17: Residential - Market size and forecast 2020-2025 ($ million)
- Exhibit 18: Residential - Year-over-year growth 2020-2025 (%)
- 5.4 Commercial - Market size and forecast 2020-2025
- Exhibit 19: Commercial - Market size and forecast 2020-2025 ($ million)
- Exhibit 20: Commercial - Year-over-year growth 2020-2025 (%)
- 5.5 Market opportunity by End-user
- Exhibit 21: Market opportunity by End-user
6 Customer landscape
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 23: Market share by geography 2020-2025 (%)
- 7.2 Geographic comparison
- Exhibit 24: Geographic comparison
- 7.3 North America - Market size and forecast 2020-2025
- Exhibit 25: North America - Market size and forecast 2020-2025 ($ million)
- Exhibit 26: North America - Year-over-year growth 2020-2025 (%)
- 7.4 APAC - Market size and forecast 2020-2025
- Exhibit 27: APAC - Market size and forecast 2020-2025 ($ million)
- Exhibit 28: APAC - Year-over-year growth 2020-2025 (%)
- 7.5 Europe - Market size and forecast 2020-2025
- Exhibit 29: Europe - Market size and forecast 2020-2025 ($ million)
- Exhibit 30: Europe - Year-over-year growth 2020-2025 (%)
- 7.6 MEA - Market size and forecast 2020-2025
- Exhibit 31: MEA - Market size and forecast 2020-2025 ($ million)
- Exhibit 32: MEA - Year-over-year growth 2020-2025 (%)
- 7.7 South America - Market size and forecast 2020-2025
- Exhibit 33: South America - Market size and forecast 2020-2025 ($ million)
- Exhibit 34: South America - Year-over-year growth 2020-2025 (%)
- 7.8 Key leading countries
- Exhibit 35: Key leading countries
- 7.9 Market opportunity by geography
- Exhibit 36: Market opportunity by geography ($ million)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- Exhibit 37: Impact of drivers and challenges
- 8.3 Market trends
9 Vendor Landscape
- 9.1 Vendor landscape
- Exhibit 38: Vendor landscape
- 9.2 Landscape disruption
- Exhibit 39: Landscape disruption
- Exhibit 40: Industry risks
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 41: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 42: Market positioning of vendors
- 10.3 Berkshire Hathaway Inc.
- Exhibit 43: Berkshire Hathaway Inc. - Overview
- Exhibit 44: Berkshire Hathaway Inc. - Business segments
- Exhibit 45: Berkshire Hathaway Inc. - Key offerings
- Exhibit 46: Berkshire Hathaway Inc. - Segment focus
- 10.4 Inter IKEA Holding BV
- Exhibit 47: Inter IKEA Holding BV - Overview
- Exhibit 48: Inter IKEA Holding BV - Business segments
- Exhibit 49: Inter IKEA Holding BV - Key news
- Exhibit 50: Inter IKEA Holding BV - Key offerings
- 10.5 Interface Inc.
- Exhibit 51: Interface Inc. - Overview
- Exhibit 52: Interface Inc. - Business segments
- Exhibit 53: Interface Inc. - Key offerings
- 10.6 Milliken and Company
- 10.7 Mohawk Industries Inc.
- Exhibit 58: Mohawk Industries Inc. - Overview
- Exhibit 59: Mohawk Industries Inc. - Business segments
- Exhibit 60: Mohawk Industries Inc - Key news
- Exhibit 61: Mohawk Industries Inc. - Key offerings
- Exhibit 62: Mohawk Industries Inc. - Segment focus
- 10.8 Oriental Weavers Group
- Exhibit 63: Oriental Weavers Group - Overview
- Exhibit 64: Oriental Weavers Group - Business segments
- Exhibit 65: Oriental Weavers Group - Key offerings
- Exhibit 66: Oriental Weavers Group - Segment focus
- 10.9 Tai Ping
- Exhibit 67: Tai Ping - Overview
- Exhibit 68: Tai Ping - Product and service
- Exhibit 69: Tai Ping - Key offerings
- 10.10 Tarkett Group
- Exhibit 70: Tarkett Group - Overview
- Exhibit 71: Tarkett Group - Business segments
- Exhibit 72: Tarkett Group - Key offerings
- Exhibit 73: Tarkett Group - Segment focus
- 10.11 The Dixie Group Inc.
- Exhibit 74: The Dixie Group Inc. - Overview
- Exhibit 75: The Dixie Group Inc. - Product and service
- Exhibit 76: The Dixie Group Inc - Key news
- Exhibit 77: The Dixie Group Inc. - Key offerings
- 10.12 Victoria Plc
- Exhibit 78: Victoria Plc - Overview
- Exhibit 79: Victoria Plc - Product and service
- Exhibit 80: Victoria Plc - Key news
- Exhibit 81: Victoria Plc - Key offerings
- 11.1 Scope of the report
- 11.2 Currency conversion rates for US$
- Exhibit 82: Currency conversion rates for US$
- 11.3 Research methodology
- Exhibit 83: Research Methodology
- Exhibit 84: Validation techniques employed for market sizing
- Exhibit 85: Information sources
- 11.4 List of abbreviations
- Exhibit 86: List of abbreviations
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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Frequently Asked Questions?
- Egypt (Arab Republic of Egypt)
- Consumers increasing preference for home decor
- Rising demand for eco-friendly carpets and rugs
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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