Global Carpet and Rug Market Size To Worth USD 111.19 Billion By 2033 | CAGR of 7.95%
Category: Consumer GoodsGlobal Carpet & Rug Market Size To Worth USD 111.19 Billion By 2033
According to a research report published By Spherical Insights & Consulting, the Global carpet and rug Market Size Was Valued at USD 51.73 Billion in 2023 and is Expected to reach USD 111.19 Billion By 2033, Growing at a CAGR of 7.95% from 2023 to 2033
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Browse key industry insights spread across 210 pages with 95 Market data tables and figures & charts from the report on the "Global Carpet & Rug Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Knotted Pile, Needle Punched, Woven, Tufted, and Others), By Material (Polyester, Nylon, Cotton, and Others), By Application (Residential, Commercial), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/carpet-and-rug-market
The carpet and rug market is undergoing substantial change as a result of changing customer tastes and technology breakthroughs. The ability to customize products has been transformed by digital printing technology, which allows producers to produce previously unattainable detailed patterns and distinctive designs. Manufacturers concentrate on introducing novel items, raising consumer demand for existing ones, and accelerating market expansion. The number of residential and commercial construction projects has significantly increased due to the increasing urbanization and infrastructure development. The Indian government has taken action to encourage handcraft exports. The government has launched several programs aimed at promoting the Indian handmade carpet sector and developing skills. 74,891 artisans participated in a skill-development program that recognized their prior learning, and 2476 artisans were trained by 35 handicraft technical training facilities and 16 designers. With 257 foreign buyers from 48 countries, the Indian government hosted the biggest Indian carpet show in Asia, the India Carpet Expo (ICE), in March 2022. The market for carpets and rugs is also hindered by several issues that affect its expansion and financial success. Manufacturers are compelled to use eco-friendly materials and production techniques due to environmental concerns about the use of synthetic fiber and non-biodegradable waste, which also pose sustainability and regulatory issues.
The tufted segment held a dominant share in 2023 and is expected to grow at a notable CAGR during the forecast period.
Based on the product type, the carpet & rug market is segmented into knotted pile, needle punched, woven, tufted, and others. Among these, the tufted segment held a dominant share in 2023 and is expected to grow at a notable CAGR during the forecast period. The enhanced attributes can be due to the cost-effectiveness, durability, quick product production time, and ease of access to a variety of designs. Carpets that are inexpensive and washable are preferred by consumers, whose tastes are always shifting in the market.
The nylon segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period.
Based on the material, the global carpet & rug market is divided into polyester, nylon, cotton, and others. Among these, the nylon segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period. The segmental growth due to This expansion can be explained by nylon's exceptional elasticity, stain, and abrasion resistance, excellent yarn memory to maintain twists, stain concealment ability, and superior cleaning action.
The residential segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period.
Based on the Application, the global carpet & rug market is categorized into residential and commercial. Among these, the residential segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period. The segmental growth is due to the growing use of carpets in homes to provide distinctive patterns and colors to the décor. Demand in the market is increasing as more people become interested in home improvement projects including getting rid of worn-out or outdated carpets and rugs.
North America is anticipated to hold the largest share of the global carpet & rug market over the projected timeframe.
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North America is anticipated to hold the largest share of the global carpet & rug market over the predicted timeframe. This is explained by the US building and housing industries' rapid expansion, which is a major contributor to the market's revenue growth. The growth of this industry in the region has also been facilitated by the common practice of posting original content about interior design on social media sites.
Europe is expected to grow at a rapid CAGR in the carpet & rug market during the forecast period. The luxury carpet market is primarily driven by a flourishing real estate sector and an increasing demand for opulent interior design. The strong demand for traditional handwoven carpets, particularly those from Persia and other similar regions, demonstrates the region's appreciation for craftsmanship and lineage.
Major key players in the carpet & rug market include Mohawk Industries Inc., Victoria PLC, Tarkett SA, Shaw Industries, Milliken, Jaipur Rugs, Carpet Planet, Anderson Tuftex (Shaw Industries Inc.), Beaulieu International Group, Rugs USA, Ruggable LLC, Kaleen, The Natural Carpet Company, The Dixie Group, and Others.
Key Target Audience
- Market Players
- Investors
- Applications
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Development
- In November 2024, Ruggable introduced a brand-new line of washable, replaceable area rugs with festive patterns for the holidays. Notable designs include the Sloane Grey Tufted Rug, which has a neutral geometric design, and the Dress Stewart Tartan Rug, which features plaid and traditional Christmas hues.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global carpet & rug market based on the below-mentioned segments:
Global Carpet & Rug Market, By Product Type
- Knotted Pile
- Needle Punched
- Woven
- Tufted
- Others
Global Carpet & Rug Market, By Material
- Polyester
- Nylon
- Cotton
- Others
Global Carpet & Rug Market, By Application
- Residential
- Commercial
Global Carpet & Rug Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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