This market research report presents detailed segmentation of the global floor covering market by end user (residential and non-residential), and by product (textile covering, tiles, wood and laminate, and vinyl and rubber). It provides a detailed market share analysis for the key regions including APAC, Europe, North America, and ROW. The leading vendors in the market are Armstrong World, Gerflour, Mannington Mills, Mohawk Industries, and Shaw Industries.
Technavio has released updated market analysis on the global floor covering market, which is expected to grow at a CAGR of around 6% between 2015 and 2019, owing to increasing disposable income, booming housing industry, and growing demand for luxury flooring options. APAC accounts for around 42% of the global floor covering market share, thanks to its thriving housing industry. Countries such as China, Australia, India, and Japan are predicted to be the biggest revenue contributors in this region.
Textile floor covering is the dominant segment of the floor covering market and is expected to grow at a rate of 5% during the forecast period. Textile floor coverings include carpets and rugs, which are mostly used for aesthetical purposes across homes and offices. Colder regions, like the US and the UK, account for a higher sales of such carpets and rugs.
Global textile covering market 2014-2019 (billions of square feet)
Source: Technavio Research
“Of late, consumers are spending more time on unique designer home furnishings such as carpets, rugs, curtains, cushion covers, beds, and other floor coverings, to enhance the aesthetic appeal. The rise in disposable incomes and evolving lifestyles have propelled the demand for premium carpets and rugs. Demand for luxury floor coverings such as the hardwood flooring sales is on the rise, thanks to the soaring upper-middle-class population across the globe. Moreover, new products like the customizable carpet tiles have gained traction in the market, where consumers can customise theircarpet tiles at cheaper rates,” says Sriram Mohan, Lead Analyst, Consumer Goods, Technavio Research.
The leading vendors in the global floor covering market are Armstrong World, Gerflour, Mannington Mills, Mohawk Industries, and Shaw Industries. The market is highly fragmented with the presence of local and domestic players. The market includes manufacturers, distributors, and large retailers for various types of floor covering products.
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