Carpets & Rugs Market Estimated huge growth at a CAGR of 4.2% by 2022
The Global Carpets & Rugs Market was valued at USD 88.24 Billion in 2016, and is projected to reach USD 112.69 Billion by 2022, at a CAGR of 4.2%. The base year considered for the study is 2016, with the market size projected from 2017 to 2022. The primary objective of the study is to define, segment, and project the carpets & rugs market size on the basis of type, material, end-use sector, and region. The study also aims at strategically analyzing micromarkets with respect to individual growth trends, future prospects, and their contribution to the total market. It also provides detailed information about the main factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges). In addition to this, the study analyzes competitive developments such as acquisitions, expansions, and research & development activities in the carpets & rugs market.
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The tufted segment is estimated to account for the largest share by 2022, mainly because new residential construction and commercial projects are increasingly adopting tufted carpets & rugs. Carpets are lucrative for several reasons such as aesthetic enhancement, improvement of indoor air quality, and noise reduction. Due to the technological advancements, the majority of carpets are made from the recycled fiber.
Table of Contents
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Carpets & Rugs Market, By Type
8 Carpets & Rugs Market, By Material
9 Carpets & Rugs Market, By End-Use Sector
10 Carpets & Rugs Market, By Region
11 Competitive Landscape
12 Company Profiles
13 Appendix
https://www.prnewswire.com/news-releases/carpets-and-rugs-market-worth-11269-billion-usd-by-2022-631075723.html
The global Carpets & Rugs Market is witnessing a growth in demand, owing to the rise in the renovation & remodeling activities, growing interest of consumers toward interior decoration, and rapid urbanization & globalization. The growth in demand from the residential industry also provides an opportunity for market growth, especially in the emerging Asia-Pacific and Middle East & African regions.
The global carpets & rugs market is dominated by players such as Mohawk Industries, Inc. (U.S.), Shaw Industries Group (U.S.), Lowe’s Companies, Inc. (U.S.), Taekett S.A. (France), Home Depot, Inc. (U.S.), Interface, Inc. (U.S.), Dixie Group, Inc. (U.S.), Orientals Weavers Company for Carpets (Egypt), Tai Ping Carpets International Limited (China), and Victoria PLC (U.K.). These players adopted various strategies such as acquisitions and expansions to cater to the needs of this market.
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