Industry Background:
The carpet and rugs market plays an important role in recent years, designing customized handmade and machine-made luxury products, time and regulation that ultimately execute the deliverables to the intended products to the customers. Carpets are one of the most widely used flooring coverings in both residential and workplaces. The major application of carpet is to decorate the interiors as well as enhance the thermal comfort in place of its use. It reduces heat loss through the floor and their excellent thermal insulating properties have been relying on the principle of trapping air to reduce convective heat transfer. In colder climates or seasons, it retains warm air longer, an important benefit in our energy-conscious world.This growth is primarily driven by The increasing requirement and usage of the various furniture products are not new concepts for today’s world. The furnishing sector includes various applications such as home furnishing, office furnishing, commercial building furnishing, hotel and resort furnishing, and many others..
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | K Units |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Consumer Goods sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Dixie Group, Inc. (United States), Axminster Carpets (United Kingdom), Balta Group (Belgium), Beaulieu Canada (Canada), Brintons Carpets Limited (United States), Cormar Carpets (United Kingdom), Dream Weaver Carpet (United States), Heckmondwike FB (United Kingdom), Mohawk Industries, Inc. (United States) and ICE International (The Netherlands), 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 October 2021, Dunes Point Capital, LP has acquired Stanton Carpet Corp. Located in Woodbury, NY, Stanton. this acquisition expands the product portfolio.
In Apr 2021, Mohawk Industries announced the ReCover Recycling Program to expand into the residential market. Through this initiative, the company enhanced its market enhancement across the residential industry.The manufacturers are operating in this industry are accepting numerous strategic growth areas such as mergers & acquisitions, expansions, investments, new product launches, and others across the globe. The market major players are exploring new areas through developments and accomplishments to benefit competitive advantage through collective collaborations.
Influencing Trend:
Development in New Distribution Channels and High Availability of Eco-Friendly Product
Market Growth Drivers:
The increasing requirement and usage of the various furniture products are not new concepts for today’s world. The furnishing sector includes various applications such as home furnishing, office furnishing, commercial building furnishing, hotel and resort furnishing, and many others.
Challenges:
In the current global situation, it is very important to think about recycling products before the project begins. The organization should always contact recyclers or reused organizations, which helps the organization to plan about budgets.
Restraints:
Lack of Infrastructure in Developing Countries
Opportunities:
Increasing Demand for Handmade Carpets in Asia. A handmade carpet is made with the use of a specially designed loom and knotted manually by hand. Wool is the raw material that is used in handmade carpets. The major handmade carpet exporters are India, Iran, Afghanistan, China, Pakistan, Egypt, Nepal, and Turkey.
AMA Research follows 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 mainly 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 showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Carpets & Rugs Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Carpets & Rugs Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Carpets & Rugs players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes 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, Carpets & Rugs Study Sheds Light on
The Carpets & Rugs Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Carpets & Rugs industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Carpets & Rugs industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, 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 the value they currently claim or capture the new addressable opportunity.