Carpets and Rugs Market size was valued at USD 37.58 Bn in 2023 and is expected to reach USD 51.84 Bn by 2030, at a CAGR of 4.7%.
Carpets and Rugs Market Overview:
This Carpets and Rugs market study looks at current and emerging industry trends and dynamics in the global Carpets and Rugs market. Carpets and Rugs Extensive market forecasting for the major market segments is carried out between 2024 and 2030. Extensive Carpets and Rugs market analysis is carried out by closely monitoring key product positions and the main competitors in the market framework. To understand the competitive landscape of the worldwide Carpets and Rugs market, key players are profiled and their strategies are thoroughly evaluated.
Market Scope:
The analysis contains a current examination of the present Carpets and Rugs market landscape, as well as the most recent trends and drivers, as well as an overview of the entire Carpets and Rugs market environment. Increased demand for Carpets and Rugs is driving the market. The Carpets and Rugs market research examines the technology, end-user, and type categories, among other things, as well as the geographical landscape.
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Segmentation:
The market is divided into residential, commercial, and other segments based on the application. Because of the rising demand for home design items, the residential segment held a share of the market in 2023 of more than 60%. It is employed to improve a room's thermal and acoustic insulation as well as its visual appeal. To match any design, carpets come in an array of hues and textures. These elements therefore propel segment expansion in the global market. However, because of the growing demand for carpets and rugs in the hotel and tourism sectors, the commercial category is anticipated to develop at a significant rate throughout the projection period.
Key Players:
The market research report provides comprehensive quantitative insights that provide a clear picture of the worldwide market potential in a variety of categories, as well as country-by-country analyses in each covered topic. The analysis investigates the market's major influencing factors, as well as complete company profiles of
1.Mohawk Industries, Inc.
2.Shaw Industries Group Inc.
3.Genie Carpet Manufacturers
4.Royalty Carpet Cleaning & Flooring
5. Inter IKEA Systems B.V.
6.Beaulieu International Group
7.Engineered Floors LLC
8.Milliken & Company
9. Lowe's
10. Taekett
11.Home Depot
12.Interface, Inc.
13. Dixie Group, Inc.
14.Orientals Weavers
15. Tai Ping
Regional Analysis:
Individual market influencing variables and changes in market laws that impact present and future market trends are also included in the regional segment of the Carpets and Rugs market study. Data points such as downstream and upstream value chain analysis, technology trends, porter's five forces analysis, and case studies are just a few of the indicators utilized to anticipate market scenarios for various industries. When examining projection data for the region, the existence and availability of global players, as well as the obstacles they face as a result of substantial or low to none competition from local and domestic brands, are all taken into account.
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COVID-19 Impact Analysis on Carpets and Rugs Market:
The COVID-19 epidemic has had a significant impact on the global Carpets and Rugs industry. Carpets and Rugs Production facilities were halted due to the global economic slump and a lack of manpower. The COVID-19 pandemic has led to a significant and extended drop in production utilization, and travel prohibitions and facility closures have kept personnel away from their facilities, causing the Carpets and Rugs market to decelerate in 2020. The negative impact of COVID-19 on the Carpets and Rugs market, on the other hand, is expected to be transitory, and the sector is expected to revive significantly by early 2023, owing to increased demand for Carpets and Rugs.
Key Questions Answered in the Carpets and Rugs Market Report are:
Which segment was responsible for the largest share in the Carpets and Rugs market?
How was the competitive scenario of the Carpets and Rugs market in 2023?
Which are the key factors responsible for the Carpets and Rugs market growth?
Which region held the maximum share in the Carpets and Rugs market in 2023?