LONDON--(BUSINESS WIRE)--Technavio has been monitoring the area rugs market and it is poised to grow by USD 5.12 billion during 2020-2024, progressing at a CAGR of almost 5% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Frequently Asked Questions-
- Based on segmentation by application, which is the leading segment in the market?
- The residential segment is expected to be the leading segment in the global market during the forecast period.
- What are the major trends in the market?
- Growing demand for high-end luxury area rugs is one of the major trends in the market.
- At what rate is the market projected to grow?
- Growing at a CAGR of almost 5%, the incremental growth of the market is anticipated to be USD 5.12 billion.
- Who are the top players in the market?
- Balta Group NV, Berkshire Hathaway Inc., Capel Inc., Harounian Rugs International, Kalaty Rug Corp., Milliken & Co., Mohawk Industries Inc., Oriental Weavers Group, The Dixie Group Inc., and The Natural Carpet Co. are some of the major market participants.
- What are the key market drivers and challenges?
- Growing popularity of omnichannel retailing is one of the major factors driving the market. However, the intense competition from LVTs restraints the market growth.
- How big is the APAC market?
- The APAC region will contribute 33% of market growth.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Balta Group NV, Berkshire Hathaway Inc., Capel Inc., Harounian Rugs International, Kalaty Rug Corp., Milliken & Co., Mohawk Industries Inc., Oriental Weavers Group, The Dixie Group Inc., and The Natural Carpet Co. are some of the major market participants. The growing popularity of omnichannel retailing will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Area Rugs Market 2020-2024: Segmentation
Area Rugs Market is segmented as below:
- North America
- South America
- Machine-made Area Rugs
- Handmade Area Rugs
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Area Rugs Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The area rugs market report covers the following areas:
- Area Rugs Market Size
- Area Rugs Market Trends
- Area Rugs Market Analysis
This study identifies the growing demand for high-end luxury area rugs as one of the prime reasons driving the area rugs market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Area Rugs Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist area rugs market growth during the next five years
- Estimation of the area rugs market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the area rugs market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of area rugs market vendors
Table of Contents:
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- Machine-made area rugs - Market size and forecast 2019-2024
- Handmade area rugs - Market size and forecast 2019-2024
- Market opportunity by Product
Market Segmentation by Application
- Market segments
- Comparison by Application
- Residential - Market size and forecast 2019-2024
- Commercial - Market size and forecast 2019-2024
- Market opportunity by Application
Market Segmentation by Distribution channel
- Market segments
- Comparison by Distribution channel
- Offline - Market size and forecast 2019-2024
- Online - Market size and forecast 2019-2024
- Market opportunity by Distribution channel
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver - Demand led growth
- Volume driver - Supply led growth
- Volume driver - External factors
- Volume driver - Demand shift in adjacent markets
- Price driver - Inflation
- Price driver - Shift from lower to higher priced units
- Market challenges
- Market trends
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Balta Group NV
- Berkshire Hathaway Inc.
- Capel Inc.
- Harounian Rugs International
- Kalaty Rug Corp.
- Milliken & Co.
- Mohawk Industries Inc.
- Oriental Weavers Group
- The Dixie Group Inc.
- The Natural Carpet Co.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.