Lucintel Forecasts Carpet and Rug Market to Reach $48.6 Billion by 2027

According to the recent study the carpet and rug market is projected to reach an estimated $48.6 billion by 2027 from $38.9 billion in 2021, at a CAGR of 3.8% from 2021 to 2027. Growth in this market is primarily driven by the growth in construction and transportation industry and an increase in renovation activities. Consumers are moving towards bold attractive colors and non-geometrical designer patterns of carpet and rugs which also help to drive the demand in the market.
Browse 204 figures / charts and 45 tables in this 233 -page report to understand trends, opportunities and forecast in carpet and rug market by product (woven, tufted, knotted, and others), end use (residential, non-residential [healthcare, education, hospitality, retail, office, and others], and transportation), material (nylon, polyester, polypropylene, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Tufted market is expected to remain the largest segment during the forecast period.”
Based on product, the carpet and rug market is segmented into woven, tufted, knotted, and others. Lucintel forecasts that the tufted market is expected to remain the largest segment due to its low price with a variety of designs.
“Within the carpet and rug market, the residential segment is expected to remain the largest end use”
Based on end use the residential segment is expected to witness the highest growth over the forecast period due to growth in demand for carpets and rugs is largely dependent on housing renovation and new residential construction, which are the major factors that would spur growth for this segment over the forecast period.
“North America will dominate the carpet and rug market in near future”
North America will remain the largest region during the forecast period, due to continuous growth in residential and commercial building construction activities. Asia Pacific is expected to witness the fastest growth over the forecast period due to development of infrastructure facilities and a surge in the real estate industry.
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Major players of carpet and rug market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Mohawk Industries, Inc., Shaw Industries, Interface, Oriental Weavers Group, Tarkett are among the major carpet and rug providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/carpet-rug-market.aspx or helpdesk@lucintel.com

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