Global Carpets and Rugs Market size was valued at USD 35.90 Bn in 2022 and is expected to reach USD 49.52 Bn by 2029, at a CAGR of 4.7%.
Carpets and Rugs Market OverviewCarpets and rugs are widely used for decorative purposes in residential and commercial spaces. Types of forms of carpets and rugs such as materials, designs, and colors. This varieties to attracts consumer attention to buying such products. Nowadays plush carpets are popular among households for their living room decoration purpose. It helps cover a particular area of a floor and to keep the floor from getting too cold in winter. Carpet rugs are made of thick materials such as wool and silk, now a day carpet rugs are used as important elements in interior design and offer aesthetic looks.To know about the Research Methodology :- Request Free Sample Report
Carpets and Rugs Market DynamicsIncreasing demand for different styles of Carpets and Rugs to drive the market growth Carpets are useful and decorative and prevent moist flooring. They insulate and soundproof homes and businesses. Due to rising employment and disposable income of families, notably dual-income ones, the global carpets and rugs market is expected to develop. With increased purchasing power, more customers have to buy non-essential leisure things. The carpets and rugs market has witnessed significant growth over the years, driven by factors such as increasing urbanization, rising disposable income, and changing lifestyle preferences of consumers. Consumers are now willing to invest in home decor and furnishings to enhance the aesthetics of their living spaces. Moreover, the growing trend of home renovation and remodeling activities is also expected to boost the demand for carpets and rugs. The Benefits of Carpets and Rugs to Influence the Demand for Carpets and Rugs in the Market Every person has a way of decorating their floors. Those living in hotter countries are to install tile or hardwood floors, but those in colder climates used to fit their floors with rugs and carpets. Reasons behind that such as carpets and rugs being visually pleasing, insulating, noise-canceling and keeping warm feet. The features like that color and different patterns of carpet and rugs are expected to create a lucrative opportunity for market growth. Additionally, the technological advancements in digital printing technology are opening new avenues for the growth of the market. Digital printing technology allows for custom designs and patterns to be printed on carpets and rugs, providing consumers with more options to choose from. However, fluctuations in raw material prices, such as wool and silk, pose a challenge to market growth. Government regulations related to the use of certain chemicals and materials in the manufacturing process are expected to hinder the Carpets and Rugs Market. Carpets and Rugs Market Trends to Boost the Market Growth Increase in use of carpets and rugs for interior designing: Carpet rugs are majorly used by interior designers as the basic coverage of the floor, rugs are a key element in adding beauty to floors and generating thermal insulation to floors. It works as a protective layer during winters and defends feet from cold tiles. Carpet rugs are used to enhance the ambiance of the room and carpet rugs are exclusively designed by the artist for their premium customers to make a perfect combination of floors with the whole interior. The growing popularity of carpets and rugs across the world and the wide use of carpets in interior designing are significant factors in the growth of the global Carpets and Rugs Market. Rise in the trend for eco-friendly and organic carpet rugs to fuel the Carpets and Rugs industry: In recent days people are becoming more concerned about environmental factors and started adopting eco-friendly carpets and rugs to enhance the appearance of the interior at homes and commercial places. Eco-friendly carpets and rugs are made from natural rubbers and non-toxic pads. Natural rubbers are extracted from trees and rugs are free from adhesives which release harmful chemicals. Organic rugs are also made up of natural rubbers and pads are made up of jute plant fiber which is 100% natural and organic in nature. Increasing use of eco-friendly and organic carpets and rugs is a major factor responsible for Carpets and Rugs Market size growth in terms of revenue.
Carpets and Rugs Market Segment AnalysisBased on the product type, the carpets and rugs market is segmented into woven, tufted, knotted, needle-punched, flat-weave, hooked and others. Among these, the tufted segment dominated the market with a share of over 50% in 2022 due to its low cost and easy maintenance. Tufted Rugs are perfect for adding that special touch of upscale style to Interior Decor. These rugs are an enduring part of a home's decor and provide years of comfort and beauty. The benefits such as durability, affordable, available in various size and shapes as well as color and texture. Unlimited designs of tufted carpets and rugs to fuel the market demand across the world. However, the knotted segment is expected to grow at the highest CAGR during the forecast period due to the increasing demand for high-quality hand-woven carpets. Based on Application, the market is segmented into residential and commercial and other. The residential segment dominated the market share in 2022 with a share of over 60% due to the increasing demand for home decor products. It is used to strengthen the aesthetic appeal of a room and sound & thermal insulation. Carpets are available in a variety of colors and textures to complement any decor. As a result segment growth is driven by these factors in the global market. However, the commercial segment is expected to grow at a significant pace during the forecast period due to the increasing demand for carpets and rugs in the hospitality and tourism industry.Based on the material, the market can be segmented into wool, silk, cotton, jute, and others. The wool segment accounted for the largest market share in 2022. Wool material is the most user-friendly material in terms of handmade carpets because it is suitable for all places in a home. The segment’s growth is due to its durability, natural insulation properties, and aesthetic appeal. The increasing demand for luxury and premium carpets and rugs to boost the industry’s growth over the forecast period. Based on the distribution channel, the Carpets and Rugs Market can be segmented into online and offline. The offline segment held the largest market in 2022 due to the preference of consumers to touch and feel the product before making a purchase. The online segment is expected to grow at a significant pace during the forecast period due to the increasing penetration of e-commerce platforms and the convenience they offer.
Carpets and Rugs Market Regional InsightGrowing consumer interest in interior design to fuel the North American market growth over the forecast period. In the U.S., new trends such as smart homes and renovation in home decoration and remodeling of the real estate industries are driving the demand for the carpets and rugs industry. For example, Sales of new houses in the US unexpectedly jumped 9.3% month-over-month to a seasonally adjusted annualized rate of 683K in March of 2023, the highest in a year, and beating forecasts of 630K. Sales jumped 170.8% to 65K in the Northeast, 29.8% to 161K in the West and 6% to 71K in the Midwest but fell 5.4% to 386K in the South. The median price of new houses sold was $449,800 while the average sales price was $562,400, compared to $435,900 and $511,800 respectively a year ago. There were 432K houses left to sell, the lowest since April of 2022, corresponding to 7.6 months of supply at the current sales rate. Asia Pacific held the second-largest market share in 2022 and is expected to grow at a significant CAGR over the forecast period. The regional market growth is attributed to increasing construction activities in commercial and residential areas and growth in disposable income. Carpets and rugs are mainly seen as materials that modify the structure of a place by adding comfort, warmth, and cushion to the place. Various kinds of rugs such as bedroom rugs, living room rugs, shag rugs, office rugs, wool rugs, braided rugs, and other flooring rugs are preferred in the Carpets and Rugs Market. India is a leader in the production of handmade carpets in terms of both volume and value. Its heritage in handmade carpets is recognized in the world with its recognizable share in the global exports. As a matter of fact, 90% of the carpets produced in India are exported. During April-November 2020, exports of handmade carpets from India stood at INR 64,407.19 crore (USD 916.15 million). India exports carpets to more than 70 countries worldwide. Major importers for the Indian woven carpets are the United States, Germany, Canada, the United Kingdom, Australia, South Africa, France, Italy, Brazil, etc. With the advent of globalization, new opportunities are opening for the Indian carpet market in developing countries.
Competitive LandscapeThe major Carpets and Rugs Market players are spending on R and D activities to increase their product size, which is held to the growth of the market and push toward developmental business. Competitors in the carpets and rug industry offer cost-effective items to expand and survive in an increasingly competitive and rise-in market environment. The report provided the key companies of carpets and rugs including 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. For example, Steelcase owned coalesce manufacturers patterned with Spanish rugs company nanimarquina to launch nanimarquina collection of handicraft rugs for the domestic and commercial applications. This partnership will help to maintain its dominance in the competitive market over the forecast period.
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Carpets and Rugs Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2017 to 2022 Market Size in 2022: US $ 35.90 Bn. Forecast Period 2023 to 2029 CAGR: 4.7% Market Size in 2029: US $ 49.52 Bn. Segments Covered: by Products Type 1.Woven 2.Tufted 3.Knotted 4.Needle-Punched 5.Flat-Weave 6.Hooked 7.Other by Application 1.Residential 2.Commercial 3. Automotive applications by Material 1.Nylon 2.Wool 3.Silk 4.Polyester 5.Triexta 6.Acrylic 7.Polypropylene 8.Other by Distribution Channel 1.Offline 2.Online
Carpets and Rugs Market, by RegionNorth America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) South America (Brazil, Argentina Rest of South America) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of MEandA)
Carpets and Rugs Key Players1.Mohawk Industries, Inc. 2.Shaw Industries Group Inc. 3.Genie Carpet Manufacturers 4.Royalty Carpet Cleaning & Flooring 5. Inter IKEA Systems B.V. 6.Beaulieu International Group 7.Engineered Floors LLC 8.Milliken & Company 9. Lowe's 10. Taekett 11.Home Depot 12.Interface, Inc. 13. Dixie Group, Inc. 14.Orientals Weavers 15. Tai Ping 16. Victoria PLC 17.Saif Carpets Pvt. Ltd 18.Genie Carpet Manufactures 19. KarpetsbyRKS 20. Marwar Carpets International Frequently Asked Questions: 1] What is the growth rate of the Global Carpets and Rugs Market? Ans. The Global Carpets and Rugs Market is growing at a significant rate of 4.7% during the forecast period. 2] Which region is expected to dominate the Global Carpets and Rugs Market? Ans. North America is expected to dominate the Carpets and Rugs Market during the forecast period. 3] What is the expected Global Carpets and Rugs Market size by 2029? Ans. The Carpets and Rugs Market size is expected to reach USD 49.52 Bn by 2029. 4] Which are the top players in the Global carpet and Rugs Market? Ans. The major top players in the Global Carpets and Rugs Market are Mohawk Industries, Inc., Shaw Industries Group Inc., Genie Carpet Manufacturers. and others. 5] What are the factors driving the Global Carpets and Rugs Market growth? Ans. The rise in disposable income and consumer preferences for eco-friendly products is expected to drive market growth during the forecast period.
1. Carpets and Rugs Market: Research Methodology 2. Carpets and Rugs Market: Executive Summary 3. Carpets and Rugs Market: Competitive Landscape 3.1. MMR Competition Matrix 3.2. Competitive Landscape 3.3. Key Players Benchmarking 3.4. Market Structure 3.4.1. Market Leaders 3.4.2. Market Followers 3.4.3. Emerging Players 3.5. Consolidation of the Market 4. Carpets and Rugs Market: Dynamics 4.1. Market Trends by region 4.1.1. North America 4.1.2. Europe 4.1.3. Asia Pacific 4.1.4. Middle East and Africa 4.1.5. South America 4.2. Market Drivers by Region 4.2.1. North America 4.2.2. Europe 4.2.3. Asia Pacific 4.2.4. Middle East and Africa 4.2.5. South America 4.3. Market Restraints 4.4. Market Opportunities 4.5. Market Challenges 4.6. PORTER’s Five Forces Analysis 4.7. PESTLE Analysis 4.8. Value Chain Analysis 4.9. Regulatory Landscape by Region 4.9.1. North America 4.9.2. Europe 4.9.3. Asia Pacific 4.9.4. Middle East and Africa 4.9.5. South America 5. Carpets and Rugs Market: Segmentation (by Value USD and Volume Units) 5.1. Carpets and Rugs Market, by Product Type (2022-2029) 5.1.1. Woven 5.1.2. Tufted 5.1.3. Loop Pile 5.1.4. Cut Pie 5.1.5. Knotted 5.1.6. Needle-Punched 5.1.7. Flat-Weave 5.1.8. Hooked 5.1.9. Other 5.2. Carpets and Rugs Market, by Application (2022-2029) 5.2.1. Residential 5.2.2. Commercial 5.2.3. Automotive applications 5.3. Carpets and Rugs Market, by Material (2022-2029) 5.3.1. Nylon 5.3.2. Wool 5.3.3. Silk 5.3.4. Polyester 5.3.5. Triexta 5.3.6. Acrylic 5.3.7. Polypropylene 5.3.8. Other 5.4. Carpets and Rugs Market, by Distribution Channel (2022-2029) 5.4.1. Offline 5.4.2. Online 5.6. Carpets and Rugs Market, by Region (2022-2029) 5.6.1. North America 5.6.2. Europe 5.6.3. Asia Pacific 5.6.4. Middle East and Africa 5.6.5. South America 6. North America Carpets and Rugs Market (by Value USD and Volume Units) 6.1. North America Carpets and Rugs Market, by Product Type (2022-2029) 6.1.1. Woven 6.1.2. Tufted 6.1.3. Loop Pile 6.1.4. Cut Pie 6.1.5. Knotted 6.1.6. Needle-Punched 6.1.7. Flat-Weave 6.1.8. Hooked 6.1.9. Other 6.2. North America Carpets and Rugs Market, by Application (2022-2029) 6.2.1. Residential 6.2.2. Commercial 6.2.3. Automotive applications 6.3. North America Carpets and Rugs Market, by Material (2022-2029) 6.3.1. Nylon 6.3.2. Wool 6.3.3. Silk 6.3.4. Polyester 6.3.5. Triexta 6.3.6. Acrylic 6.3.7. Polypropylene 6.3.8. Other 6.4. North America Carpets and Rugs Market, by Distribution Channel (2022-2029) 6.4.1. Offline 6.4.2. Online 6.5. North America Carpets and Rugs Market, by Country (2022-2029) 6.5.1. United States 6.5.2. Canada 6.5.3. Mexico 7. Europe Carpets and Rugs Market (by Value USD and Volume Units) 7.1. Europe Carpets and Rugs Market, by Product Type (2022-2029) 7.2. Europe Carpets and Rugs Market, by Application (2022-2029) 7.3. Europe Carpets and Rugs Market, by Material (2022-2029) 7.4. Europe Carpets and Rugs Market, by Distribution Channel (2022-2029) 7.5. Europe Carpets and Rugs Market, by Country (2022-2029) 7.5.1. UK 7.5.2. France 7.5.3. Germany 7.5.4. Italy 7.5.5. Spain 7.5.6. Sweden 7.5.7. Austria 7.5.8. Rest of Europe 8. Asia Pacific Carpets and Rugs Market (by Value USD and Volume Units) 8.1. Asia Pacific Carpets and Rugs Market, by Product Type (2022-2029) 8.2. Asia Pacific Carpets and Rugs Market, by Application (2022-2029) 8.3. Asia Pacific Carpets and Rugs Market, by Material (2022-2029) 8.4. Asia Pacific Carpets and Rugs Market, by Distribution Channel (2022-2029) 8.5. Asia Pacific Carpets and Rugs Market, by Country (2022-2029) 8.5.1. China 8.5.2. S Korea 8.5.3. Japan 8.5.4. India 8.5.5. Australia 8.5.6. Indonesia 8.5.7. Malaysia 8.5.8. Vietnam 8.5.9. Taiwan 8.5.10. Bangladesh 8.5.11. Pakistan 8.5.12. Rest of Asia Pacific 9. Middle East and Africa Carpets and Rugs Market (by Value USD and Volume Units) 9.1. Middle East and Africa Carpets and Rugs Market, by Product Type (2022-2029) 9.2. Middle East and Africa Carpets and Rugs Market, by Application (2022-2029) 9.3. Middle East and Africa Carpets and Rugs Market, by Material (2022-2029) 9.4. Middle East and Africa Carpets and Rugs Market, by Distribution Channel (2022-2029) 9.5. Middle East and Africa Carpets and Rugs Market, by Country (2022-2029) 9.5.1. South Africa 9.5.2. GCC 9.5.3. Egypt 9.5.4. Nigeria 9.5.5. Rest of ME&A 10. South America Carpets and Rugs Market (by Value USD and Volume Units) 10.1. South America Carpets and Rugs Market, by Product Type (2022-2029) 10.2. South America Carpets and Rugs Market, by Application (2022-2029) 10.3. South America Carpets and Rugs Market, by Material (2022-2029) 10.4. South America Carpets and Rugs Market, by Distribution Channel (2022-2029) 10.5. South America Carpets and Rugs Market, by Country (2022-2029) 10.5.1. Brazil 10.5.2. Argentina 10.5.3. Rest of South America 11. Company Profile: Key players 11.1. Mohawk Industries, Inc. 11.1.1. Company Overview 11.1.2. Financial Overview 11.1.3. Business Portfolio 11.1.4. SWOT Analysis 11.1.5. Business Strategy 11.1.6. Recent Developments 11.2. Shaw Industries Group Inc. 11.3. Genie Carpet Manufacturers 11.4. Royalty Carpet Cleaning & Flooring 11.5. Inter IKEA Systems B.V. 11.6. Beaulieu International Group 11.7. Engineered Floors LLC 11.8. Milliken & Company 11.9. Lowe's 11.10. Taekett 11.11. Home Depot 11.12. Interface, Inc. 11.13. Dixie Group, Inc. 11.14. Orientals Weavers 11.15. Tai Ping 11.16. Victoria PLC 11.17. Saif Carpets Pvt. Ltd 11.18. Genie Carpet Manufactures 11.19. KarpetsbyRKS 11.20. Marwar Carpets International 12. Key Findings 13. Industry Recommendation