Rugs and carpets provide a comfortable surface for sitting while also muting the sound of footsteps. Carpets are used in commercial and residential settings, including hotels and retail establishments. Today, various carpets and rugs are offered at various price points and quality levels, ranging from cheap, factory-produced synthetic carpets to pricy, longer-lasting hand-knotted wool rugs used as decorative accents in private homes. Carpets made of rugs are frequently used in the winter to cover the floor and act as a barrier against chilly surfaces.
According to data bridge market research, the Global Carpets and Rugs Market was valued at USD 172.47 million in 2021 and is expected to reach USD 116.73 million by 2029, registering a CAGR of 5.00% during the forecast period of 2022-2029.
" Use of carpet rugs in interior design is on the rise"
Rugs are a key component in giving floors beauty and producing thermal insulation, and interior designers frequently use carpet rugs as the foundational covering of the floor. It serves as a shield against chilly tiles during the winter. Carpet rugs improve the room's ambiance, and artists exclusively create them for their most prestigious clients to create the ideal contrast between the floors and the entire interior. Rugs made of carpet are becoming more and more popular in the world of interior design. The widespread use of carpets in interior design is a key factor in expanding the world market for rugs.
What restraints the growth of the Global Carpets and Rugs Market?
"A shortage of raw materials and disposal problems constrain the market"
Price fluctuations impact the industry's lack of raw materials such as cotton, jute, nylon, and polyester. As a result, this factor is anticipated to slow market expansion. The market is constrained by the high cost of the raw materials used to make carpets and rugs. Additionally, It can be difficult to dispose of the waste from mass production, including dye chemicals. Another difficulty faced by the market's traders is the higher taxes that some nations have imposed on the trade in carpets and rugs.
Segmentation: Global Carpets and Rugs Market
The global carpets and rugs market is segmented on the basis of type, product, material, application, distribution channel
- On the basis of by type, the carpets and rugs market is segmented into carpet, rugs.
- On the basis of product, the carpets and rugs market is segmented into woven, tufted, knotted, needle-punched, flat-weave, hooked, others.
- On the basis of material, the carpets and rugs market is segmented into synthetic fiber, natural fiber.
- On the basis of application, the carpets and rugs market is segmented into residential, commercial, industrial, institutional.
- On the basis of distribution channel, the carpets and rugs market is segmented into supermarket/hypermarkets, specialty stores, online, others.
Regional Insights: North America is expected to dominate the Global Carpets and Rugs Market
North America dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. The market growth in this region is attributed to the high disposable income and growing adoption of the interior with changing trends within the region.
On the other hand, Asia-Pacific is estimated to show lucrative growth over the forecast period due to the increase in construction activities and growing demand for various types of carpets and rugs in residential and commercial sectors in the region.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/global-carpets-rugs-market
The Prominent Key Players Operating in the Global Carpets and Rugs Market Include:
- Mohawk Industries, Inc. (U.S.)
- Shaw Industries Group Inc., (U.S.)
- Genie Carpet Manufacturers (India)
- Royalty Carpet Cleaning and Flooring (U.S.)
- Inter IKEA Systems B.V. (Netherlands)
- Beaulieu International Group (Belgium)
- Engineered Floors LLC (U.S.)
- Milliken and Company (U.S.)
- Lowe's (U.S.)
- Taekett (France)
- Home Depot (U.S.)
- Interface, Inc. (U.S.)
- Dixie Group, Inc. (U.S.)
- Orientals Weavers (Egypt)
- Tai Ping (China)
- Victoria PLC (U.K.)
Above are the key players covered in the report, to know about more and exhaustive list of global carpets and rugs market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Carpets and Rugs Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by dbmr research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
