Market Trends of Germany Resilient Flooring Industry
This section covers the major market trends shaping the Germany Resilient Flooring Market according to our research experts:
Rapid Growth in the Construction Industry and Increasing Infrastructure Activities are the Key Factors for Growth
The construction industry in Germany has been growing and contributes the largest share in the European Union. The revenue from the building construction industry records a growth rate of 3-4% Year-on-Year. The high level of specialization in niches, for example, in acoustic and prefabricated construction systems, is helping the market grow, in turn driving the market for floor covering across the country. The building construction industry generated USD 96.12 billion during 2018, and it has been recording increasing shares of revenue.
The Resilient Floor Covering Segment is Gaining More Significance
A significant shift from the traditional floor coverings was observed in Germany during the study period. With the gradual increase in the aging population, the younger generation is looking for more modernized solutions. The vibrant color combinations, which match with the interiors, are gaining more significance. Furthermore, they are estimated to grow during the forecast period. There is a considerable loss of interest in traditional decor among the evolving German society, especially in flooring types, such as carpets. Furthermore, the wooden flooring segment recorded a negative growth trend.
