This industry research report provides a detailed segmentation of the wooden floor market by product and includes segments like solid wooden flooring and engineered wooden flooring. It also analyzes the key trends, drivers, and geographies, including APAC, Americas, and EMEA. Key vendors are Armstrong, Mannington, Mohawk, Pergo, and Shaw Industries.
Technavio’s market research analysts estimate the global wooden floor market to grow at a CAGR of 6% between 2016 and 2020. This market is positively influenced by factors like the booming construction industry and the rise in housing construction activities. APAC dominates the global market for wooden floor, accounting for around 40% of the total market share. Rising disposable income and the increase in home ownership are expected to account for its large market share during the forecast period.
The new market research report from Technavio provides a breakdown and analysis of the wooden floor segments by technology.
“Increasing investment in hotel construction is one of the latest trends that this market is witnessing. The advent of boutique like hotels is expected to promote growth in this market since much of the focus is laid on the interiors such as light fixtures and furnishings. The construction of luxury hotels, resorts, parks, and religious monuments in regions like UAE, Russia, and Kenya is also expected drive market growth as it involves the extensive use of wooden floors for aesthetical purposes,” says Navin Rajendra, Lead Analyst, Heavy Industry, Technavio Research
Technavio market research analysts estimate the engineered wooden flooring segment to be the largest market segment during the forecast period. Advantages like its ability to provide greater stability in areas where moisture and heat problems are persistent are expected to result in its augmented adoption during the forecast period.
The leading vendors in the global wooden floor market include Armstrong, Mannington, Mohawk, Pergo, and Shaw Industries. This market is characterized by the presence of intense competition between the vendors and consists numerous local and regional players. Competition between the vendors is based on factors like product differentiation, portfolio, and pricing. Vendors that can innovate designs and technology used in the manufacturing of different types, shades, and styles of wooden floor are expected to gain maximum prominence in the market during the forecast period.
A more detailed analysis is available in the Technavio report, Global Wooden Floor Market 2016-2020.
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