DUBLIN--(BUSINESS WIRE)--The "Carpets and Rugs - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Amid the COVID-19 crisis and the looming economic recession, the Carpets and Rugs market worldwide will grow by a projected US$5.5 Billion, during the analysis period, driven by a revised compounded annual growth rate (CAGR) of 2.2%. Tufted carpets, one of the segments analyzed and sized in this study, is forecast to grow at over 2.3% and reach a market size of US$28.4 Billion by the end of the analysis period. The Tufted market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned.
As part of the new emerging geographic scenario, the United States is forecast to readjust to a 1.3% CAGR. Within Europe, Germany will add over US$114.3 Million to the region's size over the next 7 to 8 years. In addition, over US$135.5 Million worth of projected demand in the region will come from Rest of European markets. In Japan, the Tufted segment will reach a market size of US$1.6 Billion by the close of the analysis period. Blamed for the pandemic, significant political and economic challenges confront China. Amid the growing push for decoupling and economic distancing, the changing relationship between China and the rest of the world will influence competition and opportunities in the Carpets and Rugs market. Against this backdrop and the changing geopolitical, business and consumer sentiments, the world's second largest economy will grow at 4.6% over the next couple of years and add approximately US$1.9 Billion in terms of addressable market opportunity.
The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
Competitors identified in this market include:
- Al Abdullatif Industrial Investment Company
- Axminster Carpets Limited
- Balta Group NV
- Beaulieu International Group
- Brintons Carpets Limited
- Cormar Carpet Company
- Dream Weaver Carpet
- Engineered Floors LLC
- Heckmondwike FB
- ICE International
- Interface, Inc.
- Mannington Mills, Inc.
- Milliken Floor Coverings
- Mohawk Industries, Inc.
- Oriental Weavers Group
- Scott Group Studio
- Shaw Industries Group, Inc.
- Societe Ateliers Pinton SARL
- Suminoe Textile Co., Ltd.
- Tai Ping Carpets International Ltd.
- Tarkett S. A.
- The Dixie Group
- Victoria PLC
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Carpets: The Age-Old Visually Appealing and Long-Lasting Floor Covering Option
- The US and China Dominate Global Carpet Production
- Machine Made Carpets: A Threat to Hand Made Ones?
- Other Important Carpet Producing Countries Worldwide
- Hand-Woven Carpets Dominate Production in Asia and the Middle East
- Market Fortunes Intrinsically Tied to the Global Floor Coverings Market
- Developing Markets Spearhead Current and Future Market Growth
- India & China Offer Significant Growth Opportunities
- Carpets and Rugs Competitor Market Share Scenario Worldwide (in %): 2020 & 2029
- Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Premium Luxury Rugs Sales Continue to Grow
- Unique Features to Drive Sales in the Residential Segment
- Steady Penetration of Custom Area-Rugs to Benefit Sales
- Carpet Runners & Area Rugs
- Digitization of the Marketplace Improve Connectivity with the Consumers, Bodes Well for the Market
- Area Rug Suppliers & Retailers Focus on both Physical and Digital Presence
- Online Presence Essential for Survival in the Marketplace
- Focus on Environmentally Safe and Sustainable Carpets Boost Demand
- Carpets on the Green' Path
- Carpet Recycling Gains Significant Attention
- Growing Demand from the Commercial Sector Drive Healthy Market Growth
- Recovery in the Global New Construction and Renovation Activity Lends Traction to Market Growth
- Construction Industry Statistical Snapshot
- Rising Energy Costs and Pressing Need for Energy Efficiency Drive Demand for Carpets
- Ease and Speed of Installation along with Other Benefits Drive Consumer Interest in Carpet Tiles
- Nylon Steadily Lose Ground to Polyester, Polypropylene, and Eco-Friendly Fibers
- Polyester Fibers Experience an Upward Momentum
- Soft Handed Fibers Witness Growing Demand
- Favorable Demographic Trends Strengthen Market Prospects
- Expanding Global Population
- Burgeoning Middle Class Population
- Exponential Increase in Urbanization
- Rising Standards of Living
- Self-Cleaning Carpets
- Magnetic Underlayment
- Airo Carpets: Fully Recyclable Carpets
- Stain Resistance
- Pet Friendly and Waterproof Carpets
- Carpet Cleaning Technologies
- Carpet Trends in High, Middle and Entry Level Segments
- Carpets with 2D Surfaces based on Optical Illusions
- Mohawk Develops Continuum PET BCF Technology
- Nanotechnology Based Molecular Carpet Weaving: A Promising Development
- CAD Systems Improve Carpet Design and Production Efficiencies
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
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