Carpets and Rugs Market Global Trends, Share, Industry Size, Growth, Demand, Opportunities and Forecast By 2029

 Carpets and Rugs Market   research report draws attention to key market dynamics of the sector. A range of definitions and classification of the Carpets and Rugs Market industry, applications of the Carpets and Rugs Market industry and chain structure are provided in the report. The competitive landscape section of the report brings into light a clear insight about the market share analysis of major industry players. The company profiles of all the top players and brands that are leading the Carpets and Rugs Market with moves like product launches, joint ventures, mergers and acquisitions which in turn is affecting the sales, import, export, revenue and CAGR values are revealed in this market report.


By keeping in mind the end user’s point of view, a team of researchers, forecasters, analysts and industry experts work in-depth to prepare Carpets and Rugs Market research report. It is the most appropriate, realistic and admirable market research report delivered with a supreme devotion and comprehension of business needs. The research and analysis carried out in this report assists clients to forecast investment in an emerging market, expansion of market share or success of a new product. Carpets and Rugs Market is the most promising market research report which has been framed in the way foreseen.

Global Carpets and Rugs Market was valued at USD 172.47 million in 2021 and is expected to reach USD 116.73 million by 2029, registering a CAGR of 5.00% during the forecast period of 2022-2029.

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Market Overview

Carpets and rugs are popular because of their aesthetic and practical qualities. It's an addition to floor coverings that adds to the overall beauty of a house or office's decor. Rugs and carpets protect floors by adding a layer of padding. Rugs and carpets are a blessing for people who live in cold climates because they keep the floor from being too cold. The major applications of carpets and rugs involve commercial, residential and industries. In developed economies, carpets and rugs have higher demand.

Some of the major players operating in the carpets and rugs market are

  • Mohawk Industries, Inc. (U.S.)
  • Shaw Industries Group Inc., (U.S.)
  • Genie Carpet Manufacturers (India)
  • Royalty Carpet Cleaning & Flooring (U.S.)
  • Inter IKEA Systems B.V.  (Netherlands)
  • Beaulieu International Group (Belgium)
  • Engineered Floors LLC (U.S.)
  • Milliken & Company (U.S.)
  • Lowe's (U.S.)
  • Taekett (France)
  • Home Depot (U.S.)
  • Interface, Inc. (U.S.)
  • Dixie Group, Inc. (U.S.)
  • Orientals Weavers (Egypt)
  • Tai Ping (China)
  • Victoria PLC (U.K.)

Carpets and Rugs Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

  • Increased Renovation and Remodeling Activities
Carpets and rugs are utilized for their aesthetic appeal as well as utilitarian characteristics such as slip prevention and floor heat insulation. Carpets and rugs provide a protective layer to floors in addition to covering them and boosting the overall appearance of home or workplace design.

  • Surge in Disposable Income
Carpet and rug demand was at its peak in industrialized economies a few decades ago. However, this trend has shifted in recent years, with people spending more money on making cosmetic changes to their homes or offices. This need has been fueled partly by the easing of the economic crisis, resulting in a renewed desire for carpets and rugs. Furthermore, increased consumer disposable income, particularly in developing countries, is projected to support market expansion.

Furthermore, the increasing interest of consumers toward interior decoration will further propel the growth rate of carpets and rugs market. Additionally, the expansion of the end use industries is projected to bolster the market's growth.

Opportunities

  • Implementation of Strategies and Growth in importance of Organized Retailing
Furthermore, manufacturers' implementation of various new strategies and technology extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the increasing importance of organized retailing will further expand the future growth of the carpets and rugs market.

Restraints/Challenges

  • Shortage of Raw Materials
The sector is suffering from fluctuations in the prices of raw materials (polyester, nylon, jute, and cotton) due to their shortage. As a result, this factor is projected to hamper market growth.

  • Supply Chain Disruptions
The COVID-19 pandemic has created various limitations for the Carpets and Rugs Market. The entire lockdown caused so many changes in the market that Market Revenue for the year was affected. Therefore, this will challenge the carpets and rugs market growth rate.

This carpets and rugs market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the carpets and rugs market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.


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