Key vendors to strategically increase their sales are introducing sustainable area rugs.
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five vendors for the global area rugs market in their latest research report. This report also lists 11 other prominent vendors who are expected to contribute to this market’s growth between 2017-2021.
Competitive vendor landscape
The competition in the global area rugs market is driving the established players. The sellers are providing a wide range of product offerings to increase their sales and revenues in the market. The manufacturers are using advanced technological methods of producing area rugs to sustain the intense competition in the global market. The players are also focusing on Asian markets to expand their businesses and set production facilities to meet the demand in this region. It is estimated that competition in the market will intensify during the forecast period with the initiation of new programs and initiatives to popularize and engage participants.
According to Brijesh Kumar Choubey, a lead analyst at Technavio for research on retail goods and services, “The growing popularity of online and omnichannel retailing will attribute to the revenues of the global area rugs market. The penetration of the internet and online shopping has escalated the online and omnichannel retailing. The vendors are launching online platforms and are adopting various innovative strategies to attract more consumers. These channels will help manufacturers to cover a wider area without any physical retail presence at reducing costs.”
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Top five vendors in the area rugs market space
Balta Industries
Balta offers a wide range of products under several brand names, and it designs area rugs for all customer segments. The company initiates various sustainability activities across the globe. Recently, the company invested in one of the largest solar panel projects in Benelux to supply renewable energy to fuel its production facilities.
Key products: Balta, Arc Edition, Captiqs, ITC, and Modulyss.
Milliken & Company
Milliken & Company is a textile and chemical manufacturing company that manufactures a wide range of fabrics, yarn, and chemical products. The company takes full responsibility for sustainable manufacturing and claims itself as one of the most ethical companies in the world.
Key products: Montego in T30 Linen, Offbeat in T30 Black Box, Patchwork Leaf in T30 Earth, and Peony Garden in T30 French Vanilla.
Mohawk Industries
Mohawk Industries offers carpets, laminates, area rugs, ceramic tiles, hardwood, and vinyl flooring, in a wide range of textures, colors, and patterns for residential and commercial applications. Some of the recent acquisitions of the company include Dal-Tile, Unilin, Columbia, Marazzi, Pergo, IVC Group, and KAI Group.
Key products: Karastan rugs and Durkan rugs.
Shaw Industries
Shaw Industries designs, develops, and manufactures carpets and floor covering products and it specializes in indoor and outdoor carpets, residential carpets, commercial carpets, synthetic turfs, and area rugs. The company launched the cut-a-rug program that enables the customers to have rugs of their style on color, style, border, shape, and size.
Key products: Anso, R2X, Al Fresco, St Jude, Olefin, and Suncoast.
The Dixie Group
The Dixie Group designs, manufactures, and markets carpets and rugs globally and it operates through its business segment of carpet and rug manufacturing. The company is considered as the marketer of high-end residential and commercial carpets and rugs. In 2015, the company reported net sales of over USD 422 million.
Key products: Fabrica, Atlas Carpet Mills, Masland Carpets and Rugs, and Masland Contract.
Ask an analyst to know more about this report
A more detailed analysis is available in the Technavio report, Global Area Rugs Market 2017-2021. Technavio also customizes reports by other regions and specific segments upon request.
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