Carpets & Rugs Market Size to Hit USD 123.73 billion by 2031, Growing a 5.0% CAGR – Report by Transparency Market Research Inc.
The growing trend of shared living spaces and rental accommodations is anticipated to influence the demand for carpets and rugs that are easy to clean, replace, and customize without significant investment.
Wilmington, Delaware, United States, Dec. 04, 2023 (GLOBE NEWSWIRE) -- *Transparency Market Research Inc*. – The global carpet and rug market was estimated to have acquired US$ 77.23 billion in 2021. It is anticipated *to register a 5.0% CAGR* from 2022 to 2031 and by 2031, the market is likely to gain US$ 123.73 billion.
The rise of elastic or flexible flooring materials, including certain types of carpets that offer comfort and resilience is expected to attract consumers looking for versatile and durable options.
*Download Sample of the Report: **https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=311 *
*Global Carpet and Rug Market: Key Players *
The following companies are well known participants in the global carpet and rug market:
· Mohawk Industries, Inc.
· Milliken and Company
· Tarkett Group
· Shaw Industries Group, Inc.
· The Dixie Group, Inc.
· Balta Industries NV
· Mannington Mills, Inc.
· Tai Ping Carpets International Ltd
· Marquis Industries, Inc.
· Victoria PLC
Innovations in installation methods, such as easy to install modular carpet systems, can reduce installation time and costs, appealing to both consumers and commercial property owners.
*Key Findings of the Market Report *
· The preference for natural and sustainable materials, such as wool, jute, and sisal, is expected to experience a resurgence. Consumers seeking eco friendly options is expected to drive demand for carpets made from these materials.
· The luxury segment of the carpet and rug market is anticipated to benefit from the growing affluent consumer base and their willingness to invest in high quality, aesthetically pleasing flooring options.
· Keeping abreast of current design trends, such as minimalist designs, bold patterns, and sustainable aesthetics, can help manufacturers align their product offerings with consumer preferences.
· Carpets with integrated technologies, such as sensors for temperature control, lighting, or even smart home connectivity, can align with the increasing trend of integrating digital features into home environments.
*Ask Expert for the Research Report:* *https://www.transparencymarketresearch.com/sample/sample.php?flag=ASK&rep_id=311**Trends for Carpet and Rug Market*
· The demand for carpets and rugs is often linked to the housing and real estate market. Growth in the construction industry, particularly in residential and commercial sectors, is expected to boost the demand for flooring materials, including carpets and rugs.
· Changing consumer preferences, including a focus on interior design and home decor, is anticipated to propel the demand for carpets and rugs. Trends in home improvement and a desire for personalized and stylish interiors may boost the market.
· Innovations in manufacturing technologies and materials can enhance the quality, durability, and design options of carpets and rugs, which can attract consumers looking for products with improved features.
· The rise of e-commerce provides manufacturers with new distribution channels, and online retailing is anticipated to contribute to market growth by reaching a wider consumer base.
*Global Market for Carpet and Rug: Regional Outlook*
Various reasons are propelling the growth of the carpet and rug market in different regions. The regions include,
*North America*
· Home renovation and remodeling projects contribute to the demand for new flooring, including carpets and rugs. The market for floor coverings tends to grow, as homeowners invest in upgrading their living spaces.
· Changing consumer preferences, especially a preference for comfortable and aesthetically pleasing interiors, can drive the demand for carpets and rugs. Trends in interior design and home decor influence consumer choices.
· Advancements in manufacturing technologies and the introduction of innovative features, such as stain resistance, antimicrobial properties, and enhanced durability, can contribute to market growth by attracting consumers seeking high performance flooring solutions.
*Asia Pacific*
· The thriving tourism and hospitality industry in the region, including hotels and resorts, contributes to the demand for carpets and rugs in commercial settings. Luxurious and well designed carpets are often sought after for such establishments.
· Advances in manufacturing technologies and processes can enhance the quality, design, and cost effectiveness of carpets and rugs. Manufacturers incorporating innovative features may gain a competitive edge in the market.
*Recent Developments*
· In 2022, Jacaranda, the United Kingdom based brand specializing in rugs and carpets, partnered with Tencel to introduce Seoni, the inaugural collection of handwoven rugs and carpets crafted exclusively from 100% authentic carbon zero Tencel Lyocell fibers. The initiative aimed to enhance the sustainability of home décor and furnishings.
*Global Carpet and Rug Market Segmentation *
*Product Type*
· Carpets
· Rugs
*Method of Construction*
· Woven
· Tufted
· Loop Pile
· Cut Pile
*Category*
· Man Made
· Machine Made
*End User*
· Residential
· Commercial
*Material*
· Nylon
· Olefin (polypropylene)
· Polyester
· Wool
· Jute
· Cotton
· Others (Acrylic, Trixeta, Animal Skins etc.)
*Price*
· Low
· Medium
· High
*Distribution Channel*
· Direct Sales
· Indirect Sales
· Hypermarket/Supermarket
· Brand/Multi Brand Stores
· Others (Independent Retail Stores, Designer Boutiques, etc.)
· Online
· E-commerce Websites
· Company Owned Websites
*Region*
· North America
· South America
· Europe
· Asia Pacific
· Middle East and Africa
*Contact us for Special Discount and Pricing:* *https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=311 *
*More Trending Reports by Transparency Market Research –*
*Turbidimeter Market**- *The global market was valued at US$ 992.1 Mn in 2021 and it is estimated to grow at a CAGR of 5.5% from 2022 to 2031 and reach US$ 1.7 Bn by the end of 2031
*Cooking Hood Market**-* The industry was valued at US$ 11.9 Bn in 2021 and it is estimated to grow at a CAGR of 4.8% from 2022 to 2031 and reach US$ 18.7 Bn by the end of 2031
*About Transparency Market Research*
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
*Contact:*
Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com