logo

North America Luxury Vinyl Tile (LVT) Market Size (2024 - 2029)

The North America Luxury Vinyl Tile market is projected to experience significant growth, driven by the expanding building sector and an increase in remodeling and renovation projects. The market's expansion is supported by rising real estate investments and the construction of commercial structures, which boost the demand for high-end vinyl tiles. Technological advancements in manufacturing have enhanced the performance, installation, and design of vinyl flooring, further contributing to market growth. Additionally, government regulations aimed at strengthening infrastructure and real estate sectors are expected to enhance the building sector, thereby increasing the demand for luxury vinyl tiles. This growth is also fueled by consumers' growing preference for improved interior design and aesthetics, particularly in flooring, as living standards continue to rise.

Home Market Analysis Home and Property Improvement Research Floor Coverings Research Resilient Flooring Research Vinyl Flooring Research Luxury Vinyl Tiles Research North America Luxury Vinyl Tile Flooring Market Market Size

Market Size of North America Luxury Vinyl Tile (LVT) Industry

North America Luxury Vinyl Tile (LVT) Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 14.72 Billion
Market Size (2029) USD 21.52 Billion
CAGR (2024 - 2029) 7.89 %
Market Concentration Medium

Major Players

North America Luxury Vinyl Tile (LVT) Market Major Players

*Disclaimer: Major Players sorted in no particular order

North America Luxury Vinyl Tile Market Analysis

The North America Luxury Vinyl Tile Market size is estimated at USD 14.72 billion in 2024, and is expected to reach USD 21.52 billion by 2029, growing at a CAGR of 7.89% during the forecast period (2024-2029).

Luxury vinyl tile demand is anticipated to be driven by the expanding building sector, an increase in remodeling and renovation projects, and the growing appeal of tiles. The building sector has expanded due to a rise in real estate investments. The growth in constructing commercial structures, including offices, commercial complexes, and educational facilities, drives the market's desire for high-end vinyl tiles. The demand for premium vinyl tiles will rise as more housing projects are built globally. In addition, the market for vinyl flooring has expanded in terms of performance, installation, and design due to growing technological developments in the manufacturing process. The market is positively impacted by variables, including rising costs for remodeling and construction projects.

Furthermore, government changes and regulations aimed at bolstering the expansion of their infrastructure and real estate sectors may boost the growth of the building sector and increase demand for high-end vinyl tiles. The need for luxury vinyl tiles is driven by customers' inclination towards improved interior design and aesthetics, particularly regarding flooring, as living standards rise.

North America Luxury Vinyl Tile Industry Segmentation

Vinyl tiles that mimic natural materials like stone and wood are known as luxury vinyl tiles. A complete background analysis of the North American LVT market, which includes an assessment of the significant changes in market dynamics, a competitive landscape, and a market overview, is covered in the report. The market is segmented by product category, which includes rigid and flexible; end users including residential and commercial; distribution channel including home centers, flagship stores, specialty stores, online stores, and other distribution channels; and country, including United States, Canada, and rest of North America. The report offers market size and forecasts for the North American luxury vinyl tile market regarding revenue (USD) for all the above segments.

By Product Type
Rigid
Flexible
By End User
Residential
Commercial
By Distribution Channel
Home Centers
Flagship Stores
Specialty Stores
Online Stores
Other Distribution Channels
By Country
United States
Canada
Rest of North America
Need A Different Region Or Segment?
Customize Now

North America Luxury Vinyl Tile (LVT) Market Size Summary

The North America Luxury Vinyl Tile (LVT) market is poised for substantial growth, driven by the expanding building sector and increasing demand for remodeling and renovation projects. The rise in real estate investments has fueled the construction of commercial structures such as offices, commercial complexes, and educational facilities, thereby boosting the demand for high-end vinyl tiles. Technological advancements in manufacturing have enhanced the performance, installation, and design of vinyl flooring, further propelling market growth. Government initiatives aimed at strengthening infrastructure and real estate sectors are expected to further stimulate the market. As living standards improve, there is a growing consumer preference for enhanced interior design and aesthetics, particularly in flooring, which is driving the demand for luxury vinyl tiles.

In the United States, the LVT market has seen significant growth due to its durability, affordability, and aesthetic versatility, making it a popular choice in both residential and commercial settings. The commercial sector, including industries such as hospitality, healthcare, and retail, has embraced LVT for its resilience and ease of maintenance. As commercial construction and renovation projects continue to rise, the demand for LVT is expected to increase. The market is characterized by a few dominant players, but mid-size and smaller businesses are gaining traction through product and technology advancements. Recent strategic moves, such as the acquisition of Galleher by Transom Capital and the distribution agreement between AHF Products and Spartan Surfaces, highlight the dynamic nature of the market, with companies seeking to expand their presence in the premium flooring industry.

Explore More

North America Luxury Vinyl Tile (LVT) Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Increasing Real Estate Market is Driving the Market

      2. 1.2.2 Increasing Construction Industry is Driving the Market

    3. 1.3 Market Restraints

      1. 1.3.1 Competition from Other Flooring Options

      2. 1.3.2 Rise in Raw Material Costs

    4. 1.4 Market Opportunities

      1. 1.4.1 Growth of Online Retail and E-Commerce is Creating an Opportunity

    5. 1.5 Value Chain/Supply Chain Analysis

    6. 1.6 Porter's Five Forces Analysis

      1. 1.6.1 Threat of New Entrants

      2. 1.6.2 Bargaining Power of Buyers/Consumers

      3. 1.6.3 Bargaining Power of Suppliers

      4. 1.6.4 Threat of Substitute Products

      5. 1.6.5 Intensity of Competitive Rivalry

    7. 1.7 Insights on Technological Advancements in the Market

    8. 1.8 Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Product Type

      1. 2.1.1 Rigid

      2. 2.1.2 Flexible

    2. 2.2 By End User

      1. 2.2.1 Residential

      2. 2.2.2 Commercial

    3. 2.3 By Distribution Channel

      1. 2.3.1 Home Centers

      2. 2.3.2 Flagship Stores

      3. 2.3.3 Specialty Stores

      4. 2.3.4 Online Stores

      5. 2.3.5 Other Distribution Channels

    4. 2.4 By Country

      1. 2.4.1 United States

      2. 2.4.2 Canada

      3. 2.4.3 Rest of North America

North America Luxury Vinyl Tile (LVT) Market Size FAQs

The North America Luxury Vinyl Tile Market size is expected to reach USD 14.72 billion in 2024 and grow at a CAGR of 7.89% to reach USD 21.52 billion by 2029.

In 2024, the North America Luxury Vinyl Tile Market size is expected to reach USD 14.72 billion.

North America Luxury Vinyl Tile (LVT) Market Report Snapshots

North America Luxury Vinyl Tile (LVT) Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)