Carpets and Rugs Market 2022-2028: Increasing Consumer Spending On Renovation Activities, As Well As Home Interior Aesthetics.
The Global Carpets And Rugs Market size is expected to reach USD 163.75 Billion in 2028 and register a revenue CAGR of 4.4% over the forecast period, according to the latest report by Reports and Data. High consumer spending on renovation activities and home interior aesthetics, and rapid globalization and urbanization are factors expected to drive market revenue growth.
Carpets and rugs are used in homes and offices for artistic, aesthetic, and functional properties. These not only cover floors, but also enhance the overall appeal as a part of interior decoration. Carpets and rugs offer a protective layer to floors and are a crucial part of home and office interiors in regions with cold climate for trapping warmth. Homeowners are expressing interest in plush and comfortable homes to improve the quality of homestay, which is creating a high demand for carpets and rugs. Rising number of residential and commercial projects across the globe and increasing focus of people on the aesthetic aspect of interiors are expected to boost global carpets and rugs market revenue growth.
Moreover, major players operating in the global market are focusing on developing new products that are more environmentally friendly, durable, versatile, as well as easy to install and maintain. Adoption of biodegradable and natural materials such as jute is also driving market revenue growth. Materials such as sisal and sea grass improve the eco-friendly appeal of carpets and rugs, whereas use of chemical additives such as anti-microbial, flame retardant, and pest-repellant make these products more effective. Furthermore, availability of a wide range of products on online distribution channels will propel revenue growth of carpets and rugs market over the forecast period.
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Key Regional Markets Covered in the Report:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
Top 10 Profiled in the Global Carpets and Rugs Market Report:
- Victoria Plc.,
- Tarkett S.A.,
- Ikea Group,
- Interface Inc.,
- Mohawk Industries, Inc.,
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Key Takeaways of the Global Carpets and Rugs Market Report:
- A comprehensive overview of the global Carpets and Rugs industry.
- Accurate market projections in terms of market size, share, and volume.
- Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
- Deep-dive analysis of the upcoming market trends.
- Qualitative and quantitative analyses of the global Carpets and Rugs market.
- Elaborate study of the leading regional markets in the global Carpets and Rugs market.
- Complete overview of the market’s competitive landscape.
- Brief look at the company profiles and portfolios.
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