North America - Hardwood Flooring Market by End-user and Type - Forecast and Analysis 2024-2028
| Published: Nov 2023 | Pages: 140 | SKU: IRTNTR71043 |
North America - Hardwood Flooring Market 2024-2028
The North America - hardwood flooring market size is estimated to grow at a CAGR of 5.91% between 2023 and 2028. The market size is forecast to increase by USD 2.07 billion. The growth of the market depends on several factors such as the rising construction and real estate projects, the increasing focus on indoor sporting activities, and the rising strategic alliances among vendors operating in market.
The report includes a comprehensive outlook on the North America Hardwood Flooring Market, offering forecasts for the industry segmented by End-user, which comprises commercial and residential. Additionally, it categorizes Type into engineered wood and solid wood. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
What will be the size of the North America Hardwood Flooring Market During the Forecast Period?
North America Hardwood Flooring Market Forecast 2024-2028
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North America Hardwood Flooring Market Dynamic
Driver- Increasing focus on indoor sporting activities
People are adopting indoor activities such as tennis, badminton, squash, volleyball, and basketball. These sporting arenas need specific flooring products with high influence resistance and moisture-withstanding properties. Hardwood flooring not only meets these requirements but also looks very attractive, which makes it an excellent choice for application in indoor sporting domes and stadiums. People in North America are adopting such flooring options in their open spaces or gardens, which is driving the growth of the North America - hardwood flooring market.
Moreover, due to the rising spending capacity of the people in the region, leisurely activities such as shooting, futsal, and bowling have gained significant momentum in terms of adoption in North America, which in turn results in a larger uptake of wood-based flooring solutions in the region. Hence, increasing focus on indoor sporting activities will drive the growth of the market during the forecast period.
Trends- Growing trend of innovative hardwood flooring
The continued trends of the hardwood flooring market in the region indicate that consumers are mainly opting for highly efficient, eco-friendly, and affordable flooring products. The demand for hardwood flooring has been steady when corresponding with the demand for luxury vinyl tiles. This is because hardwood flooring offers several benefits, such as superior acoustics, ease of cleaning, a premium appearance, a healthy level of indoor air quality, and higher strength and durability.
In addition, hardwood floors have no grout lines, embossing, or fibers that can trap pollen and dust particles, allergens, and animal dander, which can occur in the case of carpets. As a result, the North America - hardwood flooring market delivers extensive prospects for innovation as well as branding and rebranding of new and improved hardwood flooring products. Thus, the growing trend of innovative hardwood flooring will drive the growth of the market during the forecast period.
Challenge- Shortage of skilled labor in the construction industry
The lack of vocational training courses, including those on flooring workmanship, and the high demand for labor to cater to the growing construction industry have aggravated the problem of the shortage of skilled labor in the industry. In addition, according to Somerset Hardwood Flooring, a leading market player in the US hardwood flooring market, customers face huge difficulties in finding skilled workers to install flooring products. T
Moreover, the key market players are investing heavily in technology and automation to lower their dependence on human labor. Despite this, the shortage of skilled workers makes a variation between the demand and the delivered output. Rapid economic growth in Canada and Mexico has led to a rise in labor costs in these countries. Thus, such factors may impede the growth of the market during the forecast period.
North America Hardwood Flooring Market Segmentation by End-user, and Type
End-user Segment Analysis:
The commercial segment will account for a major share of the market's growth during the forecast period.? The commercial sector contains buildings in the education, healthcare, hospitality, retail, and office segments. In this sector, the demand for hardwood flooring is anticipated to be driven by higher spending on office spaces and other institutional and commercial constructions, as well as a greater focus on employee comfort.
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The commercial segment was valued at USD 3.56 billion in 2018. Hardwood flooring is manufactured in several colors, styles, and cuts, thus providing versatility in function and design to end-users. The unique texture and appearance of the wood deliver an aesthetic appeal to the floor. Moreover, hardwood floors are extremely durable in nature and last longer post-installation. They are also easy to install and need little to no routine maintenance. Hence, such benefits will drive the growth of the market through the commercial segment during the forecast period.
Type Segment Analysis
Based on type, the market has been segmented into engineered wood and solid wood. The engineered wood?segment will account for the largest share of this segment. Engineered wood products are used broadly by builders, architects, code officials, and building designers, who are aware of energy-efficient farming techniques that improve energy conservation, cut labor costs, lower wastage, and speed up construction. In addition, one of the advantages of engineered wood products is that they can be created and developed as per the consumer's demand and custom specifications. Additionally, the availability of unique, colorful designs and the easy maintenance of engineered wood products are among the other features that are expected to drive the growth of the engineered wood segment of the North America - hardwood flooring market during the forecast period.
Who are the Major North America Hardwood Flooring Market Companies?
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
- Barlinek SA: The company offers hardwood products such as solid hardwood, a single, solid piece of wood. Its natural simplicity has made it a popular flooring choice for generations.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
B and M Noble Co., Brumark Corp., Canfor Corp., Fritz Egger GmbH and Co. OG, Gerflor Group, Goodfellow Inc., Gordon Brothers Commercial and Industrial LLC, Home Legend LLC, Interfor Corp., Koch Industries Inc., Mannington Mills Inc., Mohawk Industries Inc., Provenza Floors Inc., Q.E.P. Co. Inc., Shaw Industries Group Inc., Somerset Hardwood Flooring, Weyerhaeuser Co., Beaulieu International Group, and Tarkett
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Based on their quantitative data analysis, companies are specially categorized into dominant, leading, strong, tentative, and weak.
Segment Overview
The North America hardwood flooring market report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
- End-user Outlook
- Commercial
- Residential
- Type Outlook
- Engineered wood
- Solid wood
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North America Hardwood Flooring Market Scope |
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Report Coverage |
Details |
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Page number |
140 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.91% |
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Market Growth 2024-2028 |
USD 2.07 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
5.21 |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
B and M Noble Co., Barlinek SA, Brumark Corp., Canfor Corp., Fritz Egger GmbH and Co. OG, Gerflor Group, Goodfellow Inc., Gordon Brothers Commercial and Industrial LLC, Home Legend LLC, Interfor Corp., Koch Industries Inc., Mannington Mills Inc., Mohawk Industries Inc., Provenza Floors Inc., Q.E.P. Co. Inc., Shaw Industries Group Inc., Somerset Hardwood Flooring, Weyerhaeuser Co., Beaulieu International Group, and Tarkett |
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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, and Market condition analysis for the forecast period. |
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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. |
What are the Key Data Covered in this North America Hardwood Flooring Market Report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the North America hardwood flooring market between 2024 and 2028
- Precise estimation of the North America hardwood flooring market size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the market across North America
- A thorough analysis of the market’s competitive landscape and detailed information about companies
- Comprehensive analysis of factors that will challenge the growth of hardwood flooring market in North America companies
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1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Country Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.3 Market size 2023
- 3.4 Market outlook: Forecast for 2023-2028
- Exhibit 14: Chart on North America - Market size and forecast 2023-2028 ($ billion)
- Exhibit 15: Data Table on Regional - Market size and forecast 2023-2028 ($ billion)
- Exhibit 16: Chart on North America: Year-over-year growth 2023-2028 (%)
- Exhibit 17: Data Table on Regional - Market size and forecast 2023-2028 ($ billion)
4 Historic Market Size
- 4.1 Hardwood flooring market in North America 2018 - 2022
- Exhibit 18: Historic Market Size – Data Table on hardwood flooring market in north America 2018 - 2022 ($ billion)
- 4.2 End User Segment Analysis 2018 - 2022
- Exhibit 19: Historic Market Size – End User Segment 2018 - 2022 ($ billion)
- 4.3 Type Segment Analysis 2018 - 2022
- Exhibit 20: Historic Market Size – Type Segment 2018 - 2022 ($ billion)
- 4.4 Country Segment Analysis 2018 - 2022
- Exhibit 21: Historic Market Size – Country Segment 2018 - 2022 ($ billion)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 22: Five forces analysis - Comparison between 2023 and 2028
- 5.2 Bargaining power of buyers
- Exhibit 23: Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028
- 5.3 Bargaining power of suppliers
- Exhibit 24: Bargaining power of suppliers – Impact of key factors in 2023 and 2028
- 5.4 Threat of new entrants
- Exhibit 25: Threat of new entrants – Impact of key factors in 2023 and 2028
- 5.5 Threat of substitutes
- Exhibit 26: Threat of substitutes – Impact of key factors in 2023 and 2028
- 5.6 Threat of rivalry
- Exhibit 27: Threat of rivalry – Impact of key factors in 2023 and 2028
- 5.7 Market condition
- Exhibit 28: Chart on Market condition - Five forces 2023 and 2028
6 Market Segmentation by End-user
- 6.1 Market segments
- Exhibit 29: Chart on End-user - Market share 2023-2028 (%)
- Exhibit 30: Data Table on End-user - Market share 2023-2028 (%)
- 6.2 Comparison by End-user
- Exhibit 31: Chart on Comparison by End-user
- Exhibit 32: Data Table on Comparison by End-user
- 6.3 Commercial - Market size and forecast 2023-2028
- Exhibit 33: Chart on Commercial - Market size and forecast 2023-2028 ($ billion)
- Exhibit 34: Data Table on Commercial - Market size and forecast 2023-2028 ($ billion)
- Exhibit 35: Chart on Commercial - Year-over-year growth 2023-2028 (%)
- Exhibit 36: Data Table on Commercial - Year-over-year growth 2023-2028 (%)
- 6.4 Residential - Market size and forecast 2023-2028
- Exhibit 37: Chart on Residential - Market size and forecast 2023-2028 ($ billion)
- Exhibit 38: Data Table on Residential - Market size and forecast 2023-2028 ($ billion)
- Exhibit 39: Chart on Residential - Year-over-year growth 2023-2028 (%)
- Exhibit 40: Data Table on Residential - Year-over-year growth 2023-2028 (%)
- 6.5 Market opportunity by End-user
- Exhibit 41: Market opportunity by End-user ($ billion)
- Exhibit 42: Data Table on Market opportunity by End-user ($ billion)
7 Market Segmentation by Type
- 7.1 Market segments
- Exhibit 43: Chart on Type - Market share 2023-2028 (%)
- Exhibit 44: Data Table on Type - Market share 2023-2028 (%)
- 7.2 Comparison by Type
- Exhibit 45: Chart on Comparison by Type
- Exhibit 46: Data Table on Comparison by Type
- 7.3 Engineered wood - Market size and forecast 2023-2028
- Exhibit 47: Chart on Engineered wood - Market size and forecast 2023-2028 ($ billion)
- Exhibit 48: Data Table on Engineered wood - Market size and forecast 2023-2028 ($ billion)
- Exhibit 49: Chart on Engineered wood - Year-over-year growth 2023-2028 (%)
- Exhibit 50: Data Table on Engineered wood - Year-over-year growth 2023-2028 (%)
- 7.4 Solid wood - Market size and forecast 2023-2028
- Exhibit 51: Chart on Solid wood - Market size and forecast 2023-2028 ($ billion)
- Exhibit 52: Data Table on Solid wood - Market size and forecast 2023-2028 ($ billion)
- Exhibit 53: Chart on Solid wood - Year-over-year growth 2023-2028 (%)
- Exhibit 54: Data Table on Solid wood - Year-over-year growth 2023-2028 (%)
- 7.5 Market opportunity by Type
- Exhibit 55: Market opportunity by Type ($ billion)
- Exhibit 56: Data Table on Market opportunity by Type ($ billion)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 57: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Exhibit 58: Chart on Market share by geography - 2023-2028 (%)
- Exhibit 59: Data Table on Market share by geography - 2023-2028 (%)
- 9.2 Geographic comparison
- Exhibit 60: Chart on Geographic comparison
- Exhibit 61: Data Table on Geographic comparison
- 9.3 US - Market size and forecast 2023-2028
- Exhibit 62: Chart on US - Market size and forecast 2023-2028 ($ billion)
- Exhibit 63: Data Table on US - Market size and forecast 2023-2028 ($ billion)
- Exhibit 64: Chart on US - Year-over-year growth 2023-2028 (%)
- Exhibit 65: Data Table on US - Year-over-year growth 2023-2028 (%)
- 9.4 Canada - Market size and forecast 2023-2028
- Exhibit 66: Chart on Canada - Market size and forecast 2023-2028 ($ billion)
- Exhibit 67: Data Table on Canada - Market size and forecast 2023-2028 ($ billion)
- Exhibit 68: Chart on Canada - Year-over-year growth 2023-2028 (%)
- Exhibit 69: Data Table on Canada - Year-over-year growth 2023-2028 (%)
- 9.5 Mexico - Market size and forecast 2023-2028
- Exhibit 70: Chart on Mexico - Market size and forecast 2023-2028 ($ billion)
- Exhibit 71: Data Table on Mexico - Market size and forecast 2023-2028 ($ billion)
- Exhibit 72: Chart on Mexico - Year-over-year growth 2023-2028 (%)
- Exhibit 73: Data Table on Mexico - Year-over-year growth 2023-2028 (%)
- 9.6 Market opportunity by geography
- Exhibit 74: Market opportunity by geography ($ billion)
- Exhibit 75: Data Table on Market opportunity by geography ($ billion)
10 Drivers, Challenges, and Trends
- 10.1 Market drivers
- 10.2 Market challenges
- 10.3 Impact of drivers and challenges
- Exhibit 76: Impact of drivers and challenges in 2023 and 2028
- 10.4 Market trends
11 Vendor Landscape
- 11.1 Overview
- 11.2 Vendor landscape
- Exhibit 77: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 78: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 79: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 80: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 81: Matrix on vendor position and classification
- 12.3 Barlinek SA
- Exhibit 82: Barlinek SA - Overview
- Exhibit 83: Barlinek SA - Product / Service
- Exhibit 84: Barlinek SA - Key offerings
- 12.4 Beaulieu International Group
- Exhibit 85: Beaulieu International Group - Overview
- Exhibit 86: Beaulieu International Group - Business segments
- Exhibit 87: Beaulieu International Group - Key offerings
- Exhibit 88: Beaulieu International Group - Segment focus
- 12.5 Canfor Corp.
- Exhibit 89: Canfor Corp. - Overview
- Exhibit 90: Canfor Corp. - Business segments
- Exhibit 91: Canfor Corp. - Key news
- Exhibit 92: Canfor Corp. - Key offerings
- Exhibit 93: Canfor Corp. - Segment focus
- 12.6 Fritz Egger GmbH and Co. OG
- Exhibit 94: Fritz Egger GmbH and Co. OG - Overview
- Exhibit 95: Fritz Egger GmbH and Co. OG - Product / Service
- Exhibit 96: Fritz Egger GmbH and Co. OG - Key offerings
- 12.7 Goodfellow Inc.
- Exhibit 97: Goodfellow Inc. - Overview
- Exhibit 98: Goodfellow Inc. - Product / Service
- Exhibit 99: Goodfellow Inc. - Key offerings
- 12.8 Gordon Brothers Commercial and Industrial LLC
- Exhibit 100: Gordon Brothers Commercial and Industrial LLC - Overview
- Exhibit 101: Gordon Brothers Commercial and Industrial LLC - Product / Service
- Exhibit 102: Gordon Brothers Commercial and Industrial LLC - Key news
- Exhibit 103: Gordon Brothers Commercial and Industrial LLC - Key offerings
- 12.9 Home Legend LLC
- Exhibit 104: Home Legend LLC - Overview
- Exhibit 105: Home Legend LLC - Product / Service
- Exhibit 106: Home Legend LLC - Key offerings
- 12.10 Koch Industries Inc.
- Exhibit 107: Koch Industries Inc. - Overview
- Exhibit 108: Koch Industries Inc. - Product / Service
- Exhibit 109: Koch Industries Inc. - Key news
- Exhibit 110: Koch Industries Inc. - Key offerings
- 12.11 Mannington Mills Inc.
- Exhibit 111: Mannington Mills Inc. - Overview
- Exhibit 112: Mannington Mills Inc. - Product / Service
- Exhibit 113: Mannington Mills Inc. - Key offerings
- 12.12 Mohawk Industries Inc.
- Exhibit 114: Mohawk Industries Inc. - Overview
- Exhibit 115: Mohawk Industries Inc. - Business segments
- Exhibit 116: Mohawk Industries Inc. - Key offerings
- Exhibit 117: Mohawk Industries Inc. - Segment focus
- 12.13 Provenza Floors Inc.
- Exhibit 118: Provenza Floors Inc. - Overview
- Exhibit 119: Provenza Floors Inc. - Product / Service
- Exhibit 120: Provenza Floors Inc. - Key offerings
- 12.14 Q.E.P. Co. Inc.
- Exhibit 121: Q.E.P. Co. Inc. - Overview
- Exhibit 122: Q.E.P. Co. Inc. - Business segments
- Exhibit 123: Q.E.P. Co. Inc. - Key offerings
- Exhibit 124: Q.E.P. Co. Inc. - Segment focus
- 12.15 Shaw Industries Group Inc.
- Exhibit 125: Shaw Industries Group Inc. - Overview
- Exhibit 126: Shaw Industries Group Inc. - Product / Service
- Exhibit 127: Shaw Industries Group Inc. - Key offerings
- 12.16 Tarkett
- Exhibit 128: Tarkett - Overview
- Exhibit 129: Tarkett - Business segments
- Exhibit 130: Tarkett - Key offerings
- Exhibit 131: Tarkett - Segment focus
- 12.17 Weyerhaeuser Co.
- Exhibit 132: Weyerhaeuser Co. - Overview
- Exhibit 133: Weyerhaeuser Co. - Business segments
- Exhibit 134: Weyerhaeuser Co. - Key news
- Exhibit 135: Weyerhaeuser Co. - Key offerings
- Exhibit 136: Weyerhaeuser Co. - Segment focus
13 Appendix
- 13.1 Scope of the report
- 13.2 Inclusions and exclusions checklist
- Exhibit 137: Inclusions checklist
- Exhibit 138: Exclusions checklist
- 13.3 Currency conversion rates for US$
- Exhibit 139: Currency conversion rates for US$
- 13.4 Research methodology
- Exhibit 140: Research methodology
- Exhibit 141: Validation techniques employed for market sizing
- Exhibit 142: Information sources
- 13.5 List of abbreviations
- Exhibit 143: List of abbreviations
Research Framework
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.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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hardwood flooring market in north america market
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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