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The commercial carpet market share is expected to increase to USD 155.77 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 2.7%.
This commercial carpet 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 commercial carpet market segmentation by product (carpet tiles and broadlooms) and geography (North America, Europe, APAC, South America, and Middle East and Africa). The commercial carpet market report also offers information on several market vendors, including Armstrong Flooring Inc., Balta Group NV, Beaulieu International Group, Berkshire Hathaway Inc., Burmatex Ltd., Ege Carpets AS, Engineered Floors LLC, Forbo Holding AG, Headlam Group Plc, Heckmondwike FB Ltd., Interface Inc., Koch Industries Inc., Mannington Mills Inc., Milliken and Co., Mohawk Industries Inc., Newhey Carpets Ltd., Remland Carpets Online Ltd., Tarkett Group, Thomas Witter Carpets Ltd., Toli Floor Corp., and Victoria Plc among others.
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The growing non-residential building construction projects is notably driving the commercial carpet market growth, although factors such as the easy availability of substitutes may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the commercial carpet industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Commercial Carpet Market Driver
Key Commercial Carpet Market Trend
Key Commercial Carpet Market Challenge
This commercial carpet 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 2022-2026.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the commercial carpet market encompasses successful business strategies deployed by the key vendors. The commercial carpet market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
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 commercial carpet 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.
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44% of the market's growth will originate from North America during the forecast period. The US is the key market for the commercial carpet market in North America. Market growth in this region will be faster than the growth of the market in Europe.
The rapid expansion of the non-residential construction activities across the region, particularly in the US will facilitate the commercial carpet market growth in North America 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
In 2020, the outbreak of COVID-19 disrupted the regional economy and adversely affected the regional market. However, in H1 2021, manufacturing and supply chain activities of vendors resumed owing to the initiation of large-scale COVID-19 vaccination programs in the region. Furthermore, with the regional governments' intention to revive the economy, the market is expected to witness several investments in the construction and hospitality sectors in the region, which will increase the demand for commercial carpets during the forecast period.
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The commercial carpet market share growth by the carpet tiles segment will be significant during the forecast period. Carpet tiles cost less, are compact, contribute to minimal wastage, are recyclable, and have a low-replacement expense. These benefits are attracting many commercial customers to invest in carpet tiles. The market segment is expected to continue its dominance during the forecast period due to the increasing demand for commercial construction projects globally. These beneficiary attributes of carpet tiles will drive the commercial carpet market growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the commercial carpet market size and actionable market insights on post COVID-19 impact on each segment.
Technavio categorizes the global commercial carpet 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 commercial carpet market during the forecast period.
Our report provides extensive information on the value chain analysis for the commercial carpet 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.
Commercial Carpet Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 2.7% |
Market growth 2022-2026 |
$ 155.77 million |
Market structure |
Fragmented |
YoY growth (%) |
2.54 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 44% |
Key consumer countries |
US, United Arab Emirates, China, Germany, and UK |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Armstrong Flooring Inc., Balta Group NV, Beaulieu International Group, Berkshire Hathaway Inc., Burmatex Ltd., Ege Carpets AS, Engineered Floors LLC, Forbo Holding AG, Headlam Group Plc, Heckmondwike FB Ltd., Interface Inc., Koch Industries Inc., Mannington Mills Inc., Milliken and Co., Mohawk Industries Inc., Newhey Carpets Ltd., Remland Carpets Online Ltd., Tarkett Group, Thomas Witter Carpets Ltd., Toli Floor Corp., and Victoria Plc |
Market dynamics |
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 |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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