|Market Size in 2022||Market Forecast in 2030||CAGR (in %)||Base Year|
|USD 12.5 Billion||USD 20.6 Billion||6.5%||2022|
Carpet Tiles Market
The global carpet tiles market size was worth around USD 12.5 billion in 2022 and is predicted to grow to around USD 20.6 billion by 2030 with a compound annual growth rate (CAGR) of roughly 6.5% between 2023 and 2030.
Carpet tiles, also known as modular carpets or square carpets, are squares cut from wall-to-wall rolls that may be placed together to form a carpet. Carpet tiles are often available in the following sizes: 48x48, 50x50, 60x60, and 96x96 cm. Some carpet tile vendors also provide additional shapes and sizes, such as hexagons and triangles, which enhance the difficulty and cost of installation. Carpet tiles are a common flooring option for commercial spaces such as pubs and restaurants, as well as other reasonably simple projects. Carpet tiles may be used as an alternative to wall-to-wall carpet in practically any case where unique customization is not required, and they provide easy installation and maintenance, longevity, and the same attributes as a wall-to-wall carpet for producing a healthy, comfortable interior environment.
Design flexibility and ease of installation propel the market growth
Carpet tiles come in a variety of colors, patterns, textures, and materials, allowing for endless design possibilities. This design versatility enables architects, designers, and homeowners to develop distinctive and aesthetically appealing flooring designs that complement their individual aesthetic preferences and interior decor. Furthermore, since carpet tiles are modular, they are simple to install, even in complex configurations. When compared to traditional broadloom carpets, the installation procedure is faster and involves less manpower. Furthermore, if a tile gets soiled or broken, it may be changed individually rather than replacing the entire carpet, lowering maintenance expenses. Thus, these properties of carpet tiles are expected to propel the global carpet tiles market growth during the forecast period.
Growing competition from other flooring types hamper the market
The increasing competition from other flooring types is expected to hamper the market growth during the forecast period. The various other types of flooring, such as hardwood, vinyl, laminate, and luxury vinyl tiles (LVT). Each of these flooring options has its own set of advantages and design options, which can influence consumer choices, which in turn, hamper the carpet tiles industry revenue growth over the forecast period.
Growing product launches offer a lucrative opportunity for market expansion
The increasing innovative product launches are expected to offer a lucrative opportunity for carpet tiles market growth during the forecast period. For instance, in February 2023, Tarkett collaborated with the Dutch design research firm Studio RENS to develop DESSO X RENS, a creative approach to material reuse. This collection introduces a new design dimension: extending the life of existing materials and reducing waste. It is made out of abandoned carpet tiles from the most popular varieties.
The collection exemplifies their dedication to creating circular carpet tiles. DESSO X Rens has a 100% recyclable EcoBase backing that is made up of 80% recycled chalk from the local drinking water sector. When the carpet tiles reach the end of their useful life, they may be recycled into a new raw material at the company's plant in Waalwijk, the Netherlands. Thus, this kind of product launch in the market will drive revenue growth in the coming years.
Changing consumer preferences pose a significant challenge to the industry's growth
Consumer tastes vary quickly, and the desire for certain colors, patterns, and designs changes with time. To guarantee that their goods remain appealing and relevant, carpet tile makers must keep up with design trends and anticipate fluctuations in consumer preferences. Therefore, to some extent, this might be a major challenging factor to the market expansion.
The global Carpet Tiles industry is segmented based on type, application, distribution channel, and region.
Based on the type, the global market is bifurcated into squares and rectangles.
Based on the application, the global carpet tiles market is bifurcated into residential, commercial, and others. The residential segment is expected to dominate the market over the forecast period. The increased spending in home renovation initiatives, such as the removal of outdated or out-of-style carpets and rugs, is attributed to rising disposable income and a competitive advantage over other flooring solutions. This will very certainly increase demand for carpet tiles.
New carpeting may increase the aesthetic and value of a property. Carpet tiles and carpets are frequently used in newly constructed homes due to their low cost, simplicity of installation, and appealing looks. Residential remodeling and replacement will continue to account for the majority of carpet and rug demand as homeowners replace older or worn carpets and rugs with newer goods that offer greater visuals or improved stain resistance.
Based on the distribution channel, the carpet tiles industry is bifurcated into retail stores and online.
|Report Attributes||Report Details|
|Report Name||Carpet Tiles Market|
|Market Size in 2022||USD 12.5 Billion|
|Market Forecast in 2030||USD 20.6 Billion|
|Growth Rate||CAGR of 6.5%|
|Number of Pages||229|
|Key Companies Covered||Forbo Flooring Systems, Skytouch Ceramic Pvt Ltd., ANISA CARPETS, Hego, FLOR, Voxflor, Knotsindia, Tarkett, Burmatex Ltd., Paragon Carpet Tiles & Mat. Works, Interface Inc., Japan Carpet Co. Ltd, Mohawk Industries, Abbey Carpet & Floor, Bentley Mills Inc., Beaulieu International Group, Mannington Mills Inc., The Dixie Group Inc., Shaw Industries Group Inc., Foss Floors, and others.|
|Segments Covered||By Type, By Application, By Distribution Channel, and By Region|
|Regions Covered||North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)|
|Historical Year||2017 to 2021|
|Forecast Year||2023 - 2030|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
North America is expected to dominate the market during the forecast period
North America is expected to dominate the global carpet tiles market over the forecast period. One of the key reasons driving the growth of the carpets and carpet tile market is the fast expansion of building and housing activities throughout the area, notably in the United States. For instance, as of 2023, the number of construction businesses in the United States has increased by 2.5% from the previous year to 3,787,470. The number of enterprises in the construction sector in the United States increased at a 2.5% annual rate between 2018 and 2023.
One of the major reasons driving the growth of the carpet tile market in the United States is the high customer interest in interior décor. Aside from that, increased restoration and remodeling operations in the US real estate sector have resulted in significant demand for carpet tiles in recent years. The area has a high pace of innovation, which contributes to market growth. Therefore, this is expected to propel the market growth during the forecast period.
The Asia Pacific is expected to grow at the highest CAGR over the forecast period. The growth in the region is attributed to the growing disposable income of the population and the rising interest of consumers in aesthetically appealing products. For instance, according to the Ministry of Statistics and Programme Implementation, In India, disposable personal income climbed to USD 3,304,786.58 Million in 2022, up from USD 2,888,090.60 Million in 2021. Therefore, the aforementioned stats drive the market growth over the projection period.
The global Carpet Tiles market is dominated by players like:
By Distribution Channel
Carpet tiles, also known as modular carpets or square carpets, are squares cut from wall-to-wall rolls that may be placed together to form a carpet. Carpet tiles are often available in the following sizes: 48x48, 50x50, 60x60, and 96x96 cm. Some carpet tile vendors also provide additional shapes and sizes, such as hexagons and triangles, which enhance the difficulty and cost of installation. Carpet tiles are a common flooring option for commercial spaces such as pubs and restaurants, as well as other reasonably simple projects.
Carpet tiles are in high demand in hospitals, educational institutions, corporate offices, and other commercial spaces since they do not need to be cut for the repair of telephone, electrical lines, and underfloor vents. Additionally, rising demand for creative high-end designed workplaces, and commercial buildings owing to real-estate expansion, refurbishment of ancient buildings, and the trend of designer floors to comply with office interior design are factors driving the growth of the global carpet tiles market.
According to the report, the global carpet tiles market size was worth around USD 12.5 billion in 2022 and is predicted to grow to around USD 20.6 billion by 2030.
The global Carpet Tiles market is expected to grow at a CAGR of 6.5% during the forecast period.
The global Carpet Tiles market growth is expected to be driven by North America. It is currently the world’s highest revenue-generating market due to the growing renovation activities in residential and commercial spaces.
The global Carpet Tiles market is dominated by players like Forbo Flooring Systems, Skytouch Ceramic Pvt, Ltd., ANISA CARPETS, Hego, FLOR, Voxflor, Knotsindia, Tarkett, Burmatex Ltd., Paragon Carpet Tiles & Mat. Works, Interface, Inc., Japan Carpet Co. Ltd, Mohawk Industries, Abbey Carpet & Floor, Bentley Mills, Inc., Beaulieu International Group, Mannington Mills, Inc., The Dixie Group, Inc., Shaw Industries Group, Inc., and Foss Floors among others.
The Carpet Tiles market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, sentiment analysis, PESTLE analysis, trend analysis, SWOT analysis, trade area analysis, demand & supply analysis, Porter’s five forces analysis, and value chain analysis.