Carpet and Rugs Market - Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030
The Global Carpets & Rugs Market Was Estimated To Be Worth USD 78.12 Billion In 2021 And Is Expected To Reach USD 82.12 Billion In 2022 And Is Anticipated To Reach USD 120 Billion By 2030, With A CAGR Of Around 5.5% Between 2022 And 2030.
Carpet and Rugs Market Overview:
Carpets and rugs are decorative textiles, usually made of thick material. It is now generally used as a floor covering. They are available in a variety of beautiful patterns and bold colors, making them extremely attractive. These are more environmentally friendly, affordable, versatile, durable, and easier to install and maintain. In addition to covering the floor, it also provides non-slip and thermal insulation for the floor. Rugs and rugs are a blessing for people in regions with colder climates as it helps keep floors warm.
Rugs and cushions provide comfort for those sitting on the floor and also reduce the sound of walking. Carpets are used in industrial and residential settings such as retail stores and hotels as well as private homes. Today, rugs and rugs come in a wide variety of varieties, ranging in price and quality, from cheap synthetic rugs mass-produced in factories to expensive and more durable hand-knotted wool rugs used in private homes to provide a decorative style.
Carpet and Rugs Market size, estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Carpet and Rugs Market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.
Key Market Updates:
- In December 2022, SHAW Group Industries developed a carpet tile manufacturing facility in Georgia at a cost of US$85 million. There is an industry impression of geographic scope after this development.
Major Market Segments Covered in Carpet and Rugs Market Industry Research:
Market Key Players:
Mohawk Industries, Taekett, Shaw Industries Group, Dixie Group, Home Depot, Tai Ping Carpets International, Interface, Victoria, And Others.
- Woven, Tufted, Knotted, Needle-Punched
- Residential, Non-Residential
The North America region is expected to account for a major share of the global market owing to high consumer demand for new smart housing facilities in countries such as the U.S. and Canada. U.S. new home sales rose 1.5 percent in 2018 from 2017, according to data provided by the Federation of American Scientists. Moreover, rising living standards of the population in the region has resulted in high demand for such products among consumers in the region. the area.
Asia Pacific is expected to witness the fastest growth over the forecast period 2020-2027 owing to active government support for the development of transportation facilities such as railways, buses, and aviation in countries such as India, Vietnam, and Indonesia. This is likely to drive the growth of the Area demand for vinyl flooring carpets commonly used on buses, trains and airplanes. For example, in December 2019, the Indian government launched the Pradhan Mantri Gram Sadak Yojana with an investment of nearly $10,931.6 million to create better road connectivity between villages and hospitals, schools, and agricultural markets. Such a move is likely to boost the development of bus transport facilities in India, thereby catering to the demand for vinyl flooring carpets.
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Significant Market Dynamics:
The popularity of social media has made people more aware of the various options for interior decoration and provided opportunities to showcase their homes and designs, which in turn has driven the growth of the market revenue.
Moreover, the trend towards attractive, bold colors and non-geometric patterns on rugs and rugs is driving the growth of the market. Changing consumer preferences and increasing adoption of carpet tiles and modern carpets are also contributing to increased adoption of carpets and rugs, thereby driving market revenue growth.
The raw materials needed to make carpets are highly susceptible to price changes. Crude oil is the main raw material for the production of polyester staple fiber and nylon chips. However, continued volatility in crude oil prices further increases the cost of these raw materials required to manufacture carpets, which in turn will hamper the growth of market revenue to some extent.
Carpet and Rugs Market report scope:
CAGR of 5.5% from 2022 to 2030.
Woven, Tufted, Knotted, Needle-Punched
Mohawk Industries, Taekett, Shaw Industries Group, Dixie Group, Home Depot, Tai Ping Carpets International, Interface, Victoria
Regions and Countries Covered
2017 to 2022
2023 to 2030
Key Takeaways from this Carpet and Rugs Market Report
- Estimate Carpet and Rugs Market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, applications and by different industry verticals.
- Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
- Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
- Get a quick viewpoint on the Carpet and Rugs Market entropy - M&A's, deals, partnerships, product launches of all key companies for the historical 5 years.
- Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
- Get complete insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Study the sales and distribution channels over key geographies to improve top-line revenues.
Frequently Asked Questions-
What is the CAGR of Carpet and Rugs Market?
The Carpet and Rugs Market is growing at a CAGR of 5.5% During the Forecast Period.
What are the key types of Carpet and Rugs Market?
Woven, Tufted, Knotted, Needle-Punched
What are the key applications of Carpet and Rugs Market?
Who are the key players in Carpet and Rugs Market?
Mohawk Industries, Taekett, Shaw Industries Group, Dixie Group, Home Depot, Tai Ping Carpets International, Interface, Victoria, And others.