LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global area rugs market report until 2021. This research report also lists 12 other prominent vendors that are expected to impact the market during the forecast period.
The research study by Technavio on the global area rugs market for 2017-2021 provides a detailed industry analysis based on product (machine-made and handmade area rugs), application (residential and commercial), distribution channel (specialist stores, department stores, hypermarkets, and supermarkets, and online retail), and geography (the Americas, Europe, APAC, and MEA).
“The global area rugs market size is projected to grow to USD 20.63 billion by 2021, at a CAGR of close to 5% over the forecast period. Consumers worldwide have started paying greater attention to and are investing more time in decorating their homes with the best interiors they can afford. This is creating a huge demand for area rugs, thereby driving market growth,” says Brijesh Kumar Choubey, one of the lead analysts at Technavio for retail goods and services research.
Competitive vendor landscape
The global area rugs market is marked by the presence of established players with a wide range of product offerings. The market is anticipated to experience a rise in production capacity, with vendors embracing advanced technological methods of manufacturing area rugs. While traditional markets for area rugs have sustainable demand, a relative growth in demand is expected from most of the Asian countries. The competitors in the global area rugs market compete on different parameters including price, quality, brand, and variety, and indulge in different strategies such as mergers and acquisition to increase their global market foothold.
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Top five vendors in the global area rugs market
Balta Industries designs, manufactures, and markets a wide range of floor coverings for residential and commercial applications. Over 95% of its products are exported to more than 100 countries throughout the world. Its four business segments are rugs, residential and contract broadlooms, broadloom tiles, and technical nonwovens.
Milliken & Company
Milliken & Company is a textile and chemical manufacturing company. It manufactures a wide range of fabrics, yarn, and chemical products. The company takes full responsibility for sustainable manufacturing. Since 1992, the company has cut its water consumption by 67% saving 37 billion gallons in the process. The company claims itself as one of the most ethical companies.
Mohawk Industries offers carpets, laminates, area rugs, ceramic tiles, hardwood, and vinyl flooring, in a wide range of textures, colors, and patterns for residential and commercial applications. With a comprehensive range of product portfolio, it has its manufacturing operations in 15 countries and sales in 140 countries.
Shaw Industries designs, develops, and manufactures carpets and floor covering products. It specializes in indoor and outdoor carpets, residential carpets, commercial carpets, synthetic turfs, and area rugs. The company has five product segments: carpet, tile and stone, hardwood, laminate, and resilient. Its flooring products are used in various industries like healthcare, education, retail, and entertainment.
The Dixie Group
The Dixie Group designs, manufactures, and markets carpets and rugs globally. The company operates through its business segment: carpet and rug manufacturing. It mostly caters to the residential and commercial markets. The company is considered as the marketer of high-end residential and commercial carpets and rugs.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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