Global Wood Flooring Market was valued at USD 34.25 Billion in 2021, and it is expected to reach USD 55.6 Billion by 2029, exhibiting a CAGR of 6.24% during the forecast period (2022-2029)
Wood Flooring Market Overview:
The Wood Flooring market report offers a thorough analysis of the opposition, together with information on market share and company profiles for the leading foreign rivals. The scope of the study includes a full examination of the Wood Flooring Market as well as the factors influencing regional variations in the growth of the sector.
Market Scope:
After market engineering, which involved market statistics calculations, market size predictions, market projections, market breakdown, and data triangulation, was complete, extensive primary research was carried out to collect data and check and validate important figures. Throughout the market engineering process, top-down, bottom-up, and other data triangulation methodologies were routinely employed to conduct market estimates and forecasting for the overall market segments and sub-segments outlined in this research. In order to provide vital information throughout the study, all data collected during the market engineering process is submitted to extensive qualitative and quantitative analysis.
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Segmentation:
The commercial category was in the lead in 2021, and it is anticipated that it would remain in the lead throughout the forecast period. The demand for wood flooring is growing as construction activities and smart city development initiatives expand in developing nations. The demand for wood flooring is anticipated to increase as a result of the rise in luxury housing, hotel residences, hotels, and other hospitality facilities. Non-resilient flooring is becoming more popular in the nation as a more affordable alternative to hardwood flooring.
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Key Players:
To identify the market’s leaders and predict market revenue, both primary and secondary research are performed. CEOs, marketing executives, and seasoned front-line employees are just a few of the influential thought leaders and subject matter experts who are included in the main study’s in-depth interviews. As part of the primary research, extensive interviews with important thought leaders and business professionals, such as CEOs, marketing executives, and seasoned front-line staff, were conducted. As part of the secondary research, a review of the annual and financial reports of the major manufacturers was also done. Secondary data is employed to calculate percentage splits, market shares, growth rates, and global market breakdowns. The results of these calculations are then compared to primary data. The Wood Flooring market is dominated by the following businesses:
- • Doma Flooring (Germany)
• Classen (Germany)
• Kahrs Group (Sweden)
• Tarkett (France)
• Gerflor Group (France)
• Formica (UK)
• Beaulieu International Group (Belgium)
• Balterio Laminate Flooring
• Egger (Austria)
• Barlinek SA (Poland)
• Armstrong Flooring, Inc. (US)
• Somerset (US)
• Cali Bamboo, LLC (US)
• Shaw Industries Group, Inc (US)
• K. D. Woods Company, Inc. (US)
• Bruce Flooring (US)
• Mannington Mills, Inc (US)
• Mohawk Industries (US)
• Brumark (US)
• LL Flooring Holdings (US)
• Connor Sports (US)
• Nature-Flooring (US)
• Mirage (Canada)
• Lauzon (Canada)
• Der International Flooring Co., Ltd (China)
• DAIKEN CORPORATION (Japan)
Regional Analysis:
The regional overview of market research for Wood Flooring also discusses key market-influencing elements and legal developments that have an impact on current and future market trends. Current and upcoming trends are investigated in order to evaluate the whole market potential and find lucrative patterns in order to establish a better footing. The basis for evaluating the regional market is the current environment and expected trends.
COVID-19 Impact Analysis on Wood Flooring Market:
Owing to a halt in operations, the growth of end-user industries using Wood Flooring decreased from January 2020 to May 2020. These countries included Spain, France, Italy, China, the United States, the United Kingdom, and Spain. As a result, the market for Wood Flooring manufacturers as well as the profits of companies operating in these industries both experienced a sharp decline. This had an impact on the market’s expansion in 2020. Due to lockdowns and an increase in COVID-19 occurrences globally, end-user business need for Wood Flooring has been severely decreased.
Key Questions Answered in the Wood Flooring Market Report are:
- Which market segment accounted for the most percentage of Wood Flooring in 2021?
- How competitive is the market environment?
- What are the primary factors influencing the Wood Flooring market’s growth?
- Which region dominates the Wood Flooring market in terms of market share?
- What is the expected market CAGR from 2022 to 2029?
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