North America Luxury Vinyl Tile (LVT) Market Trends

Statistics for the 2023 & 2024 North America Luxury Vinyl Tile (LVT) market trends, created by Mordor Intelligence™ Industry Reports. North America Luxury Vinyl Tile (LVT) trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Market Trends of North America Luxury Vinyl Tile (LVT) Industry

The Residential Segment Leads the Market

LVTs have several qualities, including resilience to harsh weather, comfort, and durability, in addition to improving a building's visual attractiveness. During the forecast period, these factors are anticipated to propel the residential segment of the market. Furthermore, the rising number of existing home remodeling and restoration projects is being driven by rising per capita income and fast urbanization. Luxury vinyl tile demand in the residential market is also anticipated to be driven by rising maintenance costs. Because luxury vinyl tiles are waterproof, they are ideal for basements, laundry rooms, kitchens, and bathrooms. Moreover, LVTs in bedrooms don't collect dust or pet dander.

North America Luxury Vinyl Tile (LVT) Market: Value of Homeowner Improvements and Repair Expenditure in the United States, In USD Billion, Q3 2022-Q32023

Increasing Luxury Vinyl Tile Market in United States

The luxury vinyl tile (LVT) market in the United States has been experiencing significant growth in recent years. LVT has gained popularity among consumers and commercial sectors due to its durability, affordability, and aesthetic versatility. Resilient flooring, including LVT, has become increasingly popular among consumers in the United States. LVT's versatility makes it suitable for various applications in both residential and commercial settings. It is suitable for installation in commercial spaces like retail stores, healthcare facilities, and offices, as well as high-traffic areas like kitchens, bathrooms, and corridors. The commercial sector has been significantly used in Industries such as hospitality, healthcare, retail, and offices, which have embraced LVT for its durability, design flexibility, and ease of maintenance. As commercial construction and renovation projects continue to rise, the demand for LVT in these sectors is expected to increase.

North America Luxury Vinyl Tile (LVT) Market: Luxury Vinyl Tiles Sales Growth in United States, In %, 2021-2023

North America Luxury Vinyl Tile (LVT) Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)