Global Carpets and Rugs Market: Overview
Rugs and carpets are any decorative textile that is usually made of a thick material. It is now generally used as a covering for floor. The global carpets and rugs market is likely to observe considerable growth over the period of assessment due to growing interest in the product for interior decoration.
The future of the global carpets and rugs market looks lucrative with opportunities in the transportation, non-residential, and residential segments. One of the major factors driving the growth of the global carpets and rugs market is the expansion of the transportation and construction industries. Consumers are making a move toward non-geometrical designer patterns and attractive bold colors in carpets and rugs, which is likely to drive the global carpets and rugs market in the coming years.
Type, material, application, distribution channel, and region are the five key parameters based on which the global carpets and rugs market has been divided. The objective of such segmentation is to offer a clearer, 360-degree view of the market.
Global Carpets and Rugs Market: Notable Developments
One of the developments that offer a glimpse of the market dynamics about the global carpets and rugs market is mentioned below:
- In July 2018, US-based Mohawk Industries, Inc. has made acquisition of Godfrey Hirst Group. The latter is a prominent flooring company in New Zealand and Australia. Godfrey Hirst is one of the prominent vertically integrated flooring operation in New Zealand and Australia. It provides hard surface, modular carpet, and broadloom products for both commercial and residential applications. The acquisition is likely to reinforce the leading position of Mohawk Industries across the globe.
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The future of the global carpets and rugs market looks lucrative with opportunities in the transportation, non-residential, and residential segments. One of the major factors driving the growth of the global carpets and rugs market is the expansion of the transportation and construction industries. Consumers are making a move toward non-geometrical designer patterns and attractive bold colors in carpets and rugs, which is likely to drive the global carpets and rugs market in the coming years.
Type, material, application, distribution channel, and region are the five key parameters based on which the global carpets and rugs market has been divided. The objective of such segmentation is to offer a clearer, 360-degree view of the market.
Some well-known organizations in the global carpets and rugs market comprise the below-mentioned:
- Mohawk Industries Inc.
- Tarkett SA
- Tai Ping Carpets International Limited
- IKEA International Inc
- Amoco Fabrics and Fiber Co
- The Dixie Group Inc
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Increased Demand for Eco-friendly Carpets Estimated to Bolster Demand
The global carpets and rugs market is estimated to be influenced by the emerging trends of the market. Increased demand for environment friendly carpets, growing demand for contemporary area rugs, and increased adoption of carpet tiles are likely to boost the global carpets and rugs market in the coming years.
The rising popularity of interior decoration amongst the consumers has further spurred demand for carpets and rugs. In addition, rising demand for natural and biodegradable products like jute is expected to drive the market in the years to come.
In addition, homeowners are expressing augmented interest in comfortable houses and beautiful interiors, which is estimated to support growth of the market over the period of projection. Plush carpeting in the bedrooms and living rooms of houses together with physically comfortable environment is expected to encourage growth of the market in the years to come. Manufacturers are pushing for the sales of plush carpets through effective marketing strategies and attractive branding.
In addition, the global carpets and rugs market are expected to observe considerable growth due to hassle-free installation, reasonable price, and attractive aesthetics. Furthermore, increase in the disposable income of the people are enabling people to spend for carpets and rugs to improve the feel and look of any atmosphere, be it commercial or residential.
Global Carpets and Rugs Market: Geographical Analysis
North America has been one of the leading regions in the global carpets and rugs market and is expected to continue with the same in the forthcoming years. The rapid expansion of the construction and housing activities across the region, particularly in the US is one of the primary factors fostering growth of the carpets and rugs market in near future.
