Carpet & Rugs Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 50.07 Billion |
| Market Size (2029) | USD 63.24 Billion |
| CAGR (2024 - 2029) | 4.78 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Carpet & Rugs Market Analysis
The Carpet And Rugs Market size is estimated at USD 50.07 billion in 2024, and is expected to reach USD 63.24 billion by 2029, growing at a CAGR of 4.78% during the forecast period (2024-2029).
The market for carpets and rugs has been witnessing growth in recent years, which can be attributed to various factors. The increasing interest of consumers in interior decorations, combined with the rise in disposable income per capita, is expected to drive the growth of the carpets and rugs market in the forecast period. The expansion of the transport and construction sectors is a major driver for this growth.
Consumers are now opting for non-geometrical designer patterns and vibrant colors in carpets and rugs, which is likely to increase the global market in the coming years. There is also a growing demand for eco-friendly and sustainable flooring options, including carpets and rugs made of recycled materials or natural fibers like wool, jute, or bamboo. Consumers are acquainted with the environmental consequences of their buying decisions, prompting manufacturers to offer a broader range of sustainable options.
Technological developments have also contributed to market growth, which has led to novel designs and more efficient production processes for carpets and rugs. Digital printing techniques allow for intricate patterns and customization, while advancements in stain resistance and durability enhance the performance of these products.
Furthermore, consumers increasingly seek personalized and unique flooring options that reflect their styles and preferences. Manufacturers offer customers the possibility of choosing from a broader range of colors, patterns, and textures in response to this requirement. Design preferences also significantly influence the carpet and rug market, with trends being influenced by aspects such as interior design styles, color palettes, and texture preferences. Contemporary designs featuring geometric patterns, muted tones, and natural textures are trendy among consumers, driving market growth. In recent years, developments have focused on making the products more environment-friendly, versatile, durable, and easier to install and maintain.
Carpet & Rugs Market Trends
Rise in Construction Activities is Propelling the Market Growth
The market for carpets and rugs in new construction and renovation activities is expected to experience substantial growth in the coming years. This is largely due to the increased spending on residential construction, which has led to a higher demand for carpet tiles in the residential sector. Moreover, these residential projects often involve the removal of old or outdated carpets and rugs, which prompts homeowners to install new ones. The installation of new carpeting not only enhances the appearance of a home but also increases its value. Carpets and rugs are commonly chosen for newly constructed houses due to their affordability, easy installation process, and appealing aesthetics. Factors such as rising per capita income, low-interest rates, and an influx of immigrants are expected to drive strong growth in residential construction. Moreover, private and public commercial segments are witnessing significant growth in the carpet and rug market, as many private players are expanding their properties and investing in renovation activities. Overall, the global carpet and rugs market is expected to thrive during the forecast period, thanks to the continuous growth of the construction industry and the various applications of carpet and rugs in flooring and wall decoration.
North America Region is Dominant in the Market
North America has consistently been at the forefront of the global carpets and rugs market and is projected to maintain this position in the coming years. The rapid expansion of construction and housing projects, particularly in the United States, is a key driver for the growth of the carpets and rugs market. The United States, in particular, exhibits a strong consumer interest in interior decoration, which significantly contributes to the rising demand for carpets and rugs. Additionally, the renovation and remodeling activities in the real estate sector have fueled the substantial demand for carpets and rugs in recent years. The region's emphasis on innovation has also been crucial in propelling market growth. With a high disposable income and a focus on improving living standards, the United States is one of the top revenue-generating countries in this market.
Carpet & Rugs Industry Overview
The carpet and rug market is a fragmented industry. The major players are focusing on innovation and including advanced technologies in their existing products. Due to technological advancements and product innovation, mid-sized to smaller companies expand their market presence by securing new contracts and accessing new markets. In the future, companies are also expected to take up partnerships, mergers, and acquisitions as their key strategy for business development, including in the carpets and rugs market. Mohawk Industries Inc., Victoria PLC, Milliken, Shaw Industries, and Tarkett SA are the major players.
Carpet & Rugs Market Leaders
-
Mohawk Industries Inc.
-
Victoria PLC
-
Tarkett SA
-
Shaw Industries
-
Milliken
*Disclaimer: Major Players sorted in no particular order
Carpet & Rugs Market News
- March 2024: Interface recently unveiled three innovative carpet collections: Open Air Stria, Open Ended, and World Woven Two.
- February 2024: Tarkett recently introduced an enhanced QuickShip program for their carpet collection. This program offers 73 soft surface products carefully curated for dealers, architects, and designers. The best part is that these products can be conveniently delivered to any location in the country within five business days.
- February 2024: Shaw Contract introduced Creative Zone, a cutting-edge carpet tile collection of 24 x 24. This collection is inspired by the captivating moments discovered in our daily surroundings and has been meticulously crafted to accommodate various learning environments.
Carpet & Rugs Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Renovations and Remodeling to Increase Product Demand
4.2.2 Rising Number of Technologically Advanced Products
4.3 Market Restraints
4.3.1 High Raw Material Prices and Disruptions in the supply chain
4.3.2 Increasing Duties by Government to Restrain the Market Growth
4.4 Market Opportunities
4.4.1 Increasing demand for customized and personalized products
4.4.2 Collaboration with Interior Designing Companies
4.5 Value Chain / Supply Chain Analysis
4.6 Porters Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
4.7 Insights on Current Trends and Technological Innovations in the Market
4.8 Insights into Exports and Imports Trends in the Market
4.9 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Tufted
5.1.2 Woven
5.1.3 Needle-punched
5.1.4 Knotted
5.1.5 Others
5.2 By Distribution Channel
5.2.1 Mass Merchandisers
5.2.2 Home Centers
5.2.3 Specialty Stores
5.2.4 Other Distribution Channels
5.3 By Application
5.3.1 Residential
5.3.2 Commercial
5.4 By Geography
5.4.1 North America
5.4.1.1 US
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.1.4 Rest of North America
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 France
5.4.2.3 UK
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 India
5.4.3.3 Japan
5.4.3.4 New Zealand
5.4.3.5 Australia
5.4.3.6 South Korea
5.4.3.7 Rest of Asia Pacific
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle East & Africa
5.4.5.1 UAE
5.4.5.2 Saudi Arabia
5.4.5.3 Egypt
5.4.5.4 Kuwait
5.4.5.5 South Africa
5.4.5.6 Rest of the Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Mohawk Industries, Inc.
6.2.2 Shaw Industries Group, Inc.
6.2.3 Tarkett S.A
6.2.4 The Dixie Group Inc
6.2.5 Milliken & Company
6.2.6 Tai Ping Carpets International Limited
6.2.7 Interface Inc.
6.2.8 Oriental Weavers Carpet Co.
6.2.9 Victoria Plc
6.2.10 Inter IKEA Group*
- *List Not Exhaustive
7. MARKET FUTURE TRENDS
8. DISCLAIMER
Carpet & Rugs Industry Segmentation
Carpets and rugs are commonly utilized textile floor coverings in residential, commercial, and office settings. They offer both practical and visual benefits by adding warmth, comfort, and insulation, as well as enhancing the overall aesthetic of a space. A complete background analysis of the carpet & rug industry, comprising emerging trends by segments and regional markets, key market players, market dynamics, and market overview, is covered in the report.
The carpets and rugs market is segmented by type, application, distribution channel, and geography. By type, the market is segmented as tufted, woven, needle-punched, knotted, and others(loop, Shag, Polyester, Berber Carpet). By Application, the market is segmented as residential and commercial. By distribution channel, the market is segmented as mass merchandisers, home centers, specialty stores, and other distribution channels(manufacturer retailers, warehouse clubs, discount retailers, distributors, and omnichannel selling companies); by geography, the market is segmented as North America, South America, Europe, Asia-Pacific, Middle East & Africa. The report offers market size and forecasts (in USD) for all the above segments.
| By Type | |
| Tufted | |
| Woven | |
| Needle-punched | |
| Knotted | |
| Others |
| By Distribution Channel | |
| Mass Merchandisers | |
| Home Centers | |
| Specialty Stores | |
| Other Distribution Channels |
| By Application | |
| Residential | |
| Commercial |
| By Geography | |||||||||
| |||||||||
| |||||||||
| |||||||||
| |||||||||
|
Carpet & Rugs Market Research FAQs
How big is the Carpet And Rugs Market?
The Carpet And Rugs Market size is expected to reach USD 50.07 billion in 2024 and grow at a CAGR of 4.78% to reach USD 63.24 billion by 2029.
What is the current Carpet And Rugs Market size?
In 2024, the Carpet And Rugs Market size is expected to reach USD 50.07 billion.
Who are the key players in Carpet And Rugs Market?
Mohawk Industries Inc., Victoria PLC, Tarkett SA, Shaw Industries and Milliken are the major companies operating in the Carpet And Rugs Market.
What years does this Carpet And Rugs Market cover, and what was the market size in 2023?
In 2023, the Carpet And Rugs Market size was estimated at USD 47.68 billion. The report covers the Carpet And Rugs Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Carpet And Rugs Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are major challenges facing Carpets and Rugs Market?
The major challenges facing Carpets and Rugs Market are a) Maintenance and cleaning challenges associated with carpets and rugs b) Changing consumer preferences and lifestyle trends can influence demand c) Price volatility of raw materials can impact profitability of manufacturers
What are major trends driving the growth of the Carpet Industry?
The major trends driving the growth of the Carpet Industry are a) Increasing demand for eco-friendly carpets and rugs made from recycled materials or natural fibers b) Growing preference for personalized and unique flooring options c) Contemporary designs featuring geometric patterns, muted tones, and natural textures are popular
Carpet & Rugs Industry Report
The global carpets and rugs market is experiencing significant growth, driven by increasing consumer interest in interior decoration, rising disposable incomes, and rapid urbanization in developing countries. The market is segmented by product type, material, and application, with tufted carpets holding a dominant share due to their durability, cost-effectiveness, and ease of production. Synthetic fibers are highly preferred for their stain resistance and durability, while wool and silk are valued for their luxurious appeal. The residential sector leads in application, driven by the trend of home renovations and the desire for aesthetic enhancement. The commercial sector also shows steady growth, with carpets and rugs being favored for their thermal insulation and soundproofing properties. Technological advancements and the demand for eco-friendly products are further propelling market expansion. The rugs market poised for continued growth, supported by trends in construction activities, consumer lifestyle changes, and the increasing importance of interior aesthetics. Carpet industry statistics indicate a robust future for this sector. Statistics for the carpet and rugs market share, size, and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports, include a market forecast outlook and historical overview. Get a sample of this industry analysis as a free report PDF download.
The market share, industry outlook, industry statistics, industry trends, industry analysis, industry overview, market size, industry report, global market, industry sales, market report are all essential components of understanding the current state and future projections of the carpets and rugs market. This market data is crucial for market leaders and research companies aiming to stay ahead of market trends and make informed decisions. The market forecast, market growth, and market segmentation provide a comprehensive market overview that highlights the potential for market value increase. This industry research, supported by industry information and industry reports, offers valuable insights into market predictions and market review, ensuring that stakeholders have access to the most accurate and up-to-date market outlook. The report example and report pdf serve as vital tools for those seeking detailed market analysis and industry size assessments.
Carpet and Rugs Market Report Snapshots
