Industry Background:
Carpet or Rug helps to make a home warm and inviting. In fact, carpeting on the floor aids in noise absorption, dust and filth entrapment, pet dander absorption, and moisture absorption, among other things. Carpets can serve as a breeding ground for pests that are linked to asthma, such as dust mites and cockroaches. Contaminants in flooring would decrease indoor air quality, resulting in an increase in health-related issues.This growth is primarily driven by Increase in Demand for Handmade/Handcrafted Carpets and Rugs.
Globally, a noticeable market trend is evident The Emergence of Eco¬-Chic Rugs and 90s Urban-Inspired Rugs
. Major Vendors, such as Mohawk Industries (United States), Fabrica International, Inc (United States), Axminster Carpets (United Kingdom), Golran (Italy), Shaw Industries (United States), Jaipur Rugs (India), Anki (United States), Ulster Carpet Mills Limited (United Kingdom), Cormar Carpets (United Kingdom) and Hassan's Carpets (Singapore) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In February 2020 Ulster Carpets released a statement announcing the acquisition of Axfelt. Ulster's dedication to producing supplementary goods to expand its client offering is further demonstrated by the acquisition of this popular brand. Quality and service excellence is key to Ulster's culture and future ambitions, and these standards will be used at Axfelt to ensure that the existing product is adequately supported and developed within the existing Axminster Carpets base.
Market Drivers
- Increase in Demand for Handmade/Handcrafted Carpets and Rugs
Market Trend
- The Emergence of Eco¬-Chic Rugs and 90s Urban-Inspired Rugs
- Growing Prevalence of Luxury Oriental Carpets
Restraints
- High Cost of Raw Materials and Skilled Labour
Opportunities
Rising Demand for Modern Carpets
Challenges
Luxury Carpets and Rugs are Very Expensive and Need High Maintenance and Carpets or Rugs may Contain Pollutants Like Dust Mites, Pet Dander, Particle Pollution, and Lead
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Luxury Carpets and Rugs Study Sheds Light on
The Luxury Carpets and Rugs Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Luxury Carpets and Rugs industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Luxury Carpets and Rugs industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.