Global Carpets and Rugs Market size was valued at USD 390 Bn in 2022 and is expected to reach USD 49.52 Bn by 2029, at a CAGR of 4.7%.
Carpets and Rugs Market Overview:
The Carpets and Rugs Market research provides a full competition picture, including market share and company profiles of the major players in the worldwide industry. The scope of the research covers a complete examination of the Carpets and Rugs Market , as well as the causes for variances in the industry’s growth in different areas.
Market Scope:
To locate and collect material appropriate for this study, this research study makes considerable use of secondary sources, directories, and databases such as annual reports, press releases, journals, corporate websites, and databases.
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Dynamics:
Carpets are practical, attractive, and keep floors from becoming wet. Homes and businesses are soundproofed and insulated. The global market for carpets and rugs is anticipated to grow as a result of increased employment and discretionary income of households, particularly those with dual incomes. More customers are forced to spend money on non-essential leisure items when their purchasing power increases.
Over the years, the market for carpets and rugs has expanded significantly, propelled by reasons including increased urbanisation, rising disposable income, and shifting consumer lifestyle choices. In order to improve the aesthetics of their living spaces, consumers are now willing to spend money on home furniture and decor. Additionally, it is anticipated that the rising popularity of house remodelling and renovation projects will increase demand for carpets and rugs.
Segmentation:
1. Carpets and Rugs Market, by Product Type (2022-2029)
1.1. Woven
1.2. Tufted
1.3. Loop Pile
1.4. Cut Pie
1. Knotted
1.6. Needle-Punched
1.7. Flat-Weave
1.8. Hooked
1.9. Other
2. Carpets and Rugs Market, by Application (2022-2029)
2.1. Residential
2.2. Commercial
2.3. Automotive applications
3. Carpets and Rugs Market, by Material (2022-2029)
3.1. Nylon
3.2. Wool
3.3. Silk
3.4. Polyester
3. Triexta
3.6. Acrylic
3.7. Polypropylene
3.8. Other
4. Carpets and Rugs Market, by Distribution Channel (2022-2029)
4.1. Offline
4.2. Online
Carpets and Rugs Market, by Price Point (2022-2029)
1. Premium
2. Medium
3. Economy
6. Carpets and Rugs Market, by Region (2022-2029)
6.1. North America
6.2. Europe
6.3. Asia Pacific
6.4. Middle East and Africa
6. South America
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Key Players: The entire approach involves a review of the financial reports of the major market participants. Following the determination of the overall market size, the complete market was divided into many segments and sub-segments and checked with key industry professionals such as CEOs, VPs, directors, and marketing executives. The major players in the Carpets and Rugs Market are
5. Inter IKEA Systems B.V.
6.Beaulieu International Group
7.Engineered Floors LLC
8.Milliken & Company
9. Lowe’s
10. Taekett
11.Home Depot
12.Interface, Inc.
13. Dixie Group, Inc.
14.Orientals Weavers
15. Tai Ping
16. Victoria PLC
17.Saif Carpets Pvt. Ltd
18.Genie Carpet Manufactures
19. KarpetsbyRKS
Regional Analysis: The region portion of the Carpets and Rugs Market study also includes individual market affecting elements and changes in legislation in the market that affect present and future market trends. Current and future trends are discussed in order to estimate the entire market potential and to highlight profitable trends in order to obtain a firmer footing. Geographic market assessment is based on the existing scenario and predicted developments.
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COVID-19 Impact Analysis on Carpets and Rugs Market :
Following the outbreak of the pandemic, end-user sectors where Carpets and Rugs Market are used had a fall in growth from January to May in a variety of countries, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India, due to a suspension in operations. This resulted in a major decrease in the revenues of firms operating in these industries and, as a consequence, in demand for Carpets and Rugs Market manufacturers, influencing the growth of the Carpets and Rugs Market in 2020. With lockdowns and a rising number of COVID-19 cases throughout the world, the demand for Carpets and Rugs Market from end-user businesses has decreased significantly.
Key Questions answered in the Carpets and Rugs Market Report are:
- Which are the major companies in the Carpets and Rugs Market ?
- Which is the potential market for Carpets and Rugs Market in terms of the region?
- What are the opportunities for new market entrants?
- What is expected to drive the growth of the market in the next seven years?
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