Carpet & Rugs Market Size
Study Period | 2020 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2020 - 2022 |
CAGR | > 10.00 % |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Carpet & Rugs Market Analysis
The Global Carpet And Rugs Market has generated revenue of USD 55.28 billion in the current year and is poised to achieve a CAGR more than of 10% for the forecast period.
The global carpets and rugs market has witnessed substantial growth over the last few years, and the growth of the market is attributed to several factors. Increasing consumer inclination towards interior decorations coupled with the rising per capita disposable income of consumers is anticipated to propel the growth of the global carpets and rugs market during the forecast period. One of the major factors driving the growth of the global carpets and rugs market is the expansion of the transportation and construction industries.
Consumers are making a move toward non-geometrical designer patterns and attractive bold colors in carpets and rugs, which is likely to drive the global carpets and rugs market in the coming years. The global carpet and rugs market is estimated to be influenced by the emerging trends of the market.
Increased demand for environment-friendly carpets, growing demand for contemporary area rugs, and increased adoption of carpet tiles are likely to boost the global carpets and rugs market in the coming years. In recent years, developments have focused on making the products more environment-friendly, versatile, and durable, as well as easier to install and maintain.
Carpet & Rugs Market Trends
Residential Segment is Driving the Market
Increases in housing starts and a strong interest in home renovation projects, such as the removal of worn or out-of-style carpets and rugs, will spur demand. The installation of new carpeting can improve a home's appearance and boost its value. Carpets and rugs are often installed in newly built houses because of their moderate cost, ease of installation, and favorable aesthetics. Residential remodeling and replacement will continue to account for the largest share of carpet and rug demand as homeowners replace older or worn carpets and rugs with newer products that offer enhanced visuals or improved stain resistance.
North America Region is Dominant in the Market
North America has been one of the leading regions in the global carpets and rugs market and is expected to continue with the same in the forthcoming years. The rapid expansion of the construction and housing activities across the region, particularly in the United States is one of the primary factors fostering the growth of the carpets and rugs market in near future. High consumer interest in interior decoration is one of the significant factors for the rising growth of carpets & rugs market in the United States. Apart from that, increasing renovation and remodeling activities in real estate sectors in the United States has resulted in the massive demand for carpets & rugs over the last few years. The region has a high rate of innovation, which helps in propelling market growth. High disposable income leads to a high level of investments and better standards of living. The United States is one of the countries generating the highest revenue for the market.
Carpet & Rugs Industry Overview
The Carpet and Rugs Market is a fragmented industry. The major players are focusing on innovation, as well as on including advanced technologies in their existing products. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping new markets. In the future years, the companies are also expected to take up partnerships mergers, and acquisitions as their key strategy for business development, which states the carpets and rugs market. The major players are Mohawk Industries Inc., Victoria PLC, Tai Ping Carpets International Limited, Dixie Group Incorporation and Tarkett SA.
Carpet & Rugs Market Leaders
Mohawk Industries Inc.
Victoria PLC
Tai Ping Carpets International Limited
Dixie Group Incorporation
Tarkett SA
*Disclaimer: Major Players sorted in no particular order
Carpet & Rugs Market News
- In September 2022:- Jacaranda a U.K based rugs and carpet brand in collaboration with Tencel, launched Seoni, the world's first collection of handwoven rugs and carpets made from 100% true carbon - zero tencel lyocell fibers to boost the sustainability of home decorations and furnishings.
- In July 2022:- Obeetee Carpets, an Indian-based handwoven carpets manufacturer launched a new collection, the Ajmmer collection. The new collection of carpets is created entirely with patterns and motifs derived from the architecture of Ajmer Fort.
Carpet & Rugs Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Renovations and Remodeling to Increase Product Demand
4.3 Market Restraints
4.3.1 High Raw Material Prices
4.4 Market Opportunities
4.4.1 The Rise in Disposable Income
4.5 Value Chain / Supply Chain Analysis
4.6 Porters Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
4.7 Insights on Current Trends and Technological Innovations in the Market
4.8 Insights into Exports and Imports Trends in the Market
4.9 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Tufted
5.1.2 Woven
5.1.3 Needle-punched
5.1.4 Knotted
5.1.5 Others
5.2 By Distribution Channel
5.2.1 Mass Merchandisers
5.2.2 Home Centers
5.2.3 Specialty Stores
5.2.4 Other Distribution Channels
5.3 By Application
5.3.1 Residential
5.3.2 Commercial
5.4 By Geography
5.4.1 North America
5.4.2 South America
5.4.3 Europe
5.4.4 Asia-Pacific
5.4.5 Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Mohawk Industries, Inc.
6.2.2 Shaw Industries Group, Inc.
6.2.3 Tarkett S.A
6.2.4 The Dixie Group Inc
6.2.5 Milliken & Company
6.2.6 Tai Ping Carpets International Limited
6.2.7 Interface Inc.
6.2.8 Oriental Weavers Carpet Co.
6.2.9 Victoria Plc
6.2.10 Inter IKEA Group*
- *List Not Exhaustive
7. MARKET FUTURE TRENDS
8. DISCLAIMER
Carpet & Rugs Industry Segmentation
The carpet and rug market is driven by the rise in construction activities in developed and developing countries across the world. People are more inclined toward an aesthetic appeal in their homes and workplaces, which is driving the global carpets & rugs market. Carpets and rugs are popular because of their aesthetic and practical qualities. The Global Carpets and Rugs Market is Segmented By Type (Tufted, Woven, Needle-punched, Knotted, and Others), By Application (Residential and Commercial), By Distribution Channel (Mass Merchandisers, Home Centers, Specialty Stores, and Other Distribution Channels), By Geography (North America, South America, Europe, Asia-Pacific, Middle East & Africa). The report offers Market size and forecasts (In USD Million) for all the above segments.
By Type | |
Tufted | |
Woven | |
Needle-punched | |
Knotted | |
Others |
By Distribution Channel | |
Mass Merchandisers | |
Home Centers | |
Specialty Stores | |
Other Distribution Channels |
By Application | |
Residential | |
Commercial |
By Geography | |
North America | |
South America | |
Europe | |
Asia-Pacific | |
Middle East & Africa |
Carpet & Rugs Market Research FAQs
What is the current Carpet and Rugs Market size?
The Carpet and Rugs Market is projected to register a CAGR of greater than 10% during the forecast period (2024-2029)
Who are the key players in Carpet and Rugs Market?
Mohawk Industries Inc., Victoria PLC, Tai Ping Carpets International Limited, Dixie Group Incorporation and Tarkett SA are the major companies operating in the Carpet and Rugs Market.
What years does this Carpet and Rugs Market cover?
The report covers the Carpet and Rugs Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Carpet and Rugs Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Carpet & Rugs Industry Report
Statistics for the 2024 Carpet and Rugs market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Carpet and Rugs analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.