Market Size of Europe Carpet and Rugs Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 3.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Carpet & Rugs Market Analysis
Europe Carpet and Rugs Market has generated a revenue of USD 17 Billion in the current year and is poised to achieve a CAGR of 3% for the forecast period.
The sudden outbreak of the COVID-19 pandemic severely affected the European economy in 2020. The highly infectious nature of the disease forced local governments to impose lockdowns and restrictions on the movement of people. As many people worked from home, they renovated and decorated their homes. Retail sales of carpets and rugs declined in 2020, but online retailers grew strongly.
The European carpet and rug market is expected to witness strong growth during the forecast period. Some of the major factors positively impacting the market's strong growth include rising demand for rugs and carpets in the residential and non-residential sectors due to its high market visibility for soft flooring products and good insulation properties, such as floor insulation. Furthermore, the growth of the residential sector of Eastern European countries, such as Russia and Turkey, on account of increasing spending by builders, is expected to increase the demand for flooring, including carpets and rugs, during the forecast period.
Europe is the second-largest market for carpets after the United States, which accounts for nearly 40% of the total European floor-covering market. The majority of European carpet is produced in Belgium, with 96% of its carpet exported. Germany has the largest demand for carpets in Europe, followed by France, the United Kingdom, Italy, and Spain.
Europe meets a lot of its demand for rugs from other countries. Germany, the United Kingdom, and Denmark are the largest importers of hand-woven rugs in Europe.
The region is witnessing rising trends, such as an increase in demand for eco-friendly carpets, a growing acceptance of carpet tiles, and an inclination toward contemporary surface rugs, which are shifting the dynamics of the European rugs and carpet market. Moreover, the demand for high-quality handmade carpets and rugs is increasing, propelling the market growth further during the forecast period.
