Carpets & Rugs Market Size, Share, Growth Report 2030

The global Carpets & Rugs Market, which was estimated at 90 (USD Billion) in 2019 and is predicted to accrue earnings worth 121.1 (USD Billion) by 2026, is set to record a CAGR of nearly 4.75% over 2020-2026. The report offers valuation and analysis of Carpets & Rugs Market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, limitations, sales estimates, avenues, current & emerging trends, and industry-validated market data. The report offers historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on value (USD Billion).

Introduction

Carpets & rugs are mainly utilized for covering floors for purpose of decoration. These products are produced through use of many of the raw materials such as nylon, polypropylene, polyester, jute, and cotton. Carpets & rugs are available in myriad designs and colors due to changing lifestyle of the customers.   

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Market Growth Drivers

Increase in the renovation activities along with swift urbanization will steer the market trends. Rising interest among the end-users towards interior decoration activities will proliferate the market size in the years ahead. Apparently, surge in the number of construction activities in the developing countries will embellish the expansion of the carpets and rugs industry over the assessment period. Apart from this, rise in the significance of organized retail activities across the globe is likely to offer new growth opportunities for the industry over the forecast timespan. Nonetheless, high raw material costs will put brakes on the industry expansion over the forecast timeframe.   

Moreover, artistic and functional features of products will open new vistas of growth for the carpets and rugs industry over the forecast timeframe. Thriving transport activities and surge in residential construction as well as commercial construction projects will pave a way for the expansion of the carpets and rugs industry over the projected timeframe.

North America To Continue Market Dominance Over Forecast Timeframe

The carpets & rugs market in North America is anticipated to register noteworthy growth with manufacturers focusing on producing low-cost carpets & rugs. A prominent surge in construction activities taking place across the U.S. is anticipated to bolster the expansion of carpets & rugs industry in North America over he forecast timeframe. Apparently, huge customer preference in interior designing is one of the major aspects driving the market size in the region. Apparently, surging renovation activities in real estate industry across the U.S. will produce high product penetration across the region in the foreseeable future.

Key participants profiled in the study include Victoria PLC, Mohawk Industries Incorporation, Tai Ping Carpets International Limited, and Dixie Group Incorporation.   

The global carpets & rugs market is segmented as follows:

By Material

• Wool
• Natural fiber
• Cotton
• Synthetic
  • Nylon
  • Polyester
  • Polypropylene

By Product

• Knotted
• Tufted
• Hand-loomed
• Machine-loomed

By Application

• Office
• Hotel
• Automotive
• Residential

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa