NEW YORK, Jan. 17, 2023 /PRNewswire/ -- According to Technavio, the global area rugs market size is estimated to grow by USD 4,532.96 million from 2023 to 2027. The market is estimated to grow at a CAGR of almost 4.48% during the forecast period. However, the growth momentum will progressing. North America held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 37%.
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Global area rugs market - Five forces
The global cloud data warehouse market is fragmented, and the five forces analysis covers–
- Bargaining power of buyers
- The threat of new entrants
- Threat of rivalry
- Bargaining power of suppliers
- Threat of substitutes
- Interpretation of porter's five models helps to strategize the business, for entire details – buy the report!
Global area rugs market – Customer landscape
The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global area rugs market - Segmentation assessment
Segment Overview
Technavio has segmented the market based on product (Machine-made area rugs and Handmade area rugs), application (Residential and Commercial), and distribution channel (Offline and Online)
- The market share growth by the Machine-made area rugs segment will be significant during the forecast period. Machine-made area rugs can be made in less time compared to handmade area rugs and are available at a lower price than handmade area rugs. They usually have a shorter life span and lower resale value than handmade area rugs. The global machine-made area rugs market is expected to experience steady year-on-year growth during the forecast period. The main factors contributing to the steady growth are the growing urban population, an increase in the number of nuclear families, and the rapidly growing housing industry with an interest in interior decoration. Therefore, the segment will witness growth during the forecast period.
Geography Overview
By geography, the global area rugs market is segmented into North America, APAC, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global area rugs market.
- North America is estimated to contribute 37% to the growth of the global market during the forecast period. The major reasons for the growth of the market in this region are the increase in per capita income, the growing number of residential and commercial construction projects, and the increasing adoption of carpet tiles in commercial spaces. Such factors will increase the market growth during the forecast period.
Global area rugs market – Market dynamics
Key factor driving market growth
- The consumer shift toward interior design is notably driving the market growth.
- Consumers around the world have become more conscious about interior design and are willing to invest both time and money in the best possible way to decorate their homes.
- This includes spending on uniquely designed home furnishings such as carpets, rugs, curtains, cushions, bedding, and other floor coverings that add to the aesthetic appeal.
- A few of the reasons behind the increasing consumer interest in home decoration are rising consumer incomes, changing lifestyles, increased media coverage, and the adoption of different cultures.
- In addition, the increasing number of working women and their increased participation in making decisions about home decoration also drive market growth. These factors have led consumers to spend more money on various designed and luxurious carpets, leading to market growth during the forecast period.
Leading trends influencing the market
- Organized retailing is an emerging trend shaping the market.
- The high penetration of organized retail in many developing countries is one of the biggest future trends in the market. As a result, the availability of different types of carpets has increased.
- The rapidly developing global retail industry, especially in developing countries, is witnessing the emergence of many retail stores such as supermarkets, hypermarkets, and specialty stores.
- Large organized retail stores have more brands and different types of carpets under one roof, which gives consumers more choices. As consumer brand awareness has grown, so has the importance of organized retailers that carry branded carpets and other home furnishing products. . Thus, the growth of organized retail will positively influence the market during the forecast period.
Major challenges hindering the market growth
- The high cost of raw materials is a major challenge impedine market growth.
- The price of raw materials is a key factor in determining the production costs of surface rugs. An increase in the price of high-quality raw materials can increase the total cost of manufacturing carpets. This additional cost is usually passed on to consumers in the form of higher prices for carpets, which can limit purchases.
- Recent increases in raw material prices and raw material shortages may have negatively affected the global carpet market. Furthermore, China's expanded carpet production capacity has created a global shortage of raw materials.
- As a result, the market was hit by repeated and sharp price increases for raw materials, especially flax, wool, silk, jute, and cotton. Thus, the high cost of raw materials poses a major challenge to the global carpet market.
What are the key data covered in this area rugs market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the Area Rugs Market between 2023 and 2027
- Precise estimation of the size of the Area Rugs Market size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the Area Rugs Market industry across North America, APAC, Europe, South America, and Middle East and Africa
- A thorough analysis of the market's competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of Area Rugs Market vendors
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Area Rugs Market Scope |
|
Report Coverage |
Details |
Page number |
173 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.48% |
Market growth 2023-2027 |
USD 4,532.96 million |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
3.42 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 37% |
Key countries |
US, China, India, UK, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Balta Group NV, Berkshire Hathaway Inc., Capel Inc., Dixie Group Inc, Harounian Rugs International, Kalaty Rug Corp., Loloi Inc., Milliken and Co., Mohawk Industries Inc., Amara Rugs, Antep Rugs Inc., BRINTONS AGNELLA Ltd., Momeni Inc., Nourison, Safavieh LLC, STEPEVI Group, The Natural Carpet Co., United Weavers Inc., and Oriental Weavers Group |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of contents:
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Application
- Exhibit 07: Executive Summary – Chart on Market Segmentation by Distribution Channel
- Exhibit 08: Executive Summary – Chart on Incremental Growth
- Exhibit 09: Executive Summary – Data Table on Incremental Growth
- Exhibit 10: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 11: Parent market
- Exhibit 12: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 13: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 14: Market segments
- 3.3 Market size 2022
- 3.4 Market outlook: Forecast for 2022-2027
- Exhibit 15: Chart on Global - Market size and forecast 2022-2027 ($ million)
- Exhibit 16: Data Table on Global - Market size and forecast 2022-2027 ($ million)
- Exhibit 17: Chart on Global Market: Year-over-year growth 2022-2027 (%)
- Exhibit 18: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
- 4.1 Global area rugs market 2017 - 2021
- Exhibit 19: Historic Market Size – Data Table on Global area rugs market 2017 - 2021 ($ million)
- 4.2 Product Segment Analysis 2017 - 2021
- Exhibit 20: Historic Market Size – Product Segment 2017 - 2021 ($ million)
- 4.3 Application Segment Analysis 2017 - 2021
- Exhibit 21: Historic Market Size – Application Segment 2017 - 2021 ($ million)
- 4.4 Distribution channel Segment Analysis 2017 - 2021
- Exhibit 22: Historic Market Size – Distribution channel Segment 2017 - 2021 ($ million)
- 4.5 Geography Segment Analysis 2017 - 2021
- Exhibit 23: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
- 4.6 Country Segment Analysis 2017 - 2021
- Exhibit 24: Historic Market Size – Country Segment 2017 - 2021 ($ million)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 25: Five forces analysis - Comparison between 2022 and 2027
- 5.2 Bargaining power of buyers
- Exhibit 26: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
- 5.3 Bargaining power of suppliers
- Exhibit 27: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
- 5.4 Threat of new entrants
- Exhibit 28: Threat of new entrants – Impact of key factors in 2022 and 2027
- 5.5 Threat of substitutes
- Exhibit 29: Threat of substitutes – Impact of key factors in 2022 and 2027
- 5.6 Threat of rivalry
- Exhibit 30: Threat of rivalry – Impact of key factors in 2022 and 2027
- 5.7 Market condition
- Exhibit 31: Chart on Market condition - Five forces 2022 and 2027
6 Market Segmentation by Product
- 6.1 Market segments
- Exhibit 32: Chart on Product - Market share 2022-2027 (%)
- Exhibit 33: Data Table on Product - Market share 2022-2027 (%)
- 6.2 Comparison by Product
- Exhibit 34: Chart on Comparison by Product
- Exhibit 35: Data Table on Comparison by Product
- 6.3 Machine-made area rugs - Market size and forecast 2022-2027
- Exhibit 36: Chart on Machine-made area rugs - Market size and forecast 2022-2027 ($ million)
- Exhibit 37: Data Table on Machine-made area rugs - Market size and forecast 2022-2027 ($ million)
- Exhibit 38: Chart on Machine-made area rugs - Year-over-year growth 2022-2027 (%)
- Exhibit 39: Data Table on Machine-made area rugs - Year-over-year growth 2022-2027 (%)
- 6.4 Handmade area rugs - Market size and forecast 2022-2027
- Exhibit 40: Chart on Handmade area rugs - Market size and forecast 2022-2027 ($ million)
- Exhibit 41: Data Table on Handmade area rugs - Market size and forecast 2022-2027 ($ million)
- Exhibit 42: Chart on Handmade area rugs - Year-over-year growth 2022-2027 (%)
- Exhibit 43: Data Table on Handmade area rugs - Year-over-year growth 2022-2027 (%)
- 6.5 Market opportunity by Product
- Exhibit 44: Market opportunity by Product ($ million)
7 Market Segmentation by Application
- 7.1 Market segments
- Exhibit 45: Chart on Application - Market share 2022-2027 (%)
- Exhibit 46: Data Table on Application - Market share 2022-2027 (%)
- 7.2 Comparison by Application
- Exhibit 47: Chart on Comparison by Application
- Exhibit 48: Data Table on Comparison by Application
- 7.3 Residential - Market size and forecast 2022-2027
- Exhibit 49: Chart on Residential - Market size and forecast 2022-2027 ($ million)
- Exhibit 50: Data Table on Residential - Market size and forecast 2022-2027 ($ million)
- Exhibit 51: Chart on Residential - Year-over-year growth 2022-2027 (%)
- Exhibit 52: Data Table on Residential - Year-over-year growth 2022-2027 (%)
- 7.4 Commercial - Market size and forecast 2022-2027
- Exhibit 53: Chart on Commercial - Market size and forecast 2022-2027 ($ million)
- Exhibit 54: Data Table on Commercial - Market size and forecast 2022-2027 ($ million)
- Exhibit 55: Chart on Commercial - Year-over-year growth 2022-2027 (%)
- Exhibit 56: Data Table on Commercial - Year-over-year growth 2022-2027 (%)
- 7.5 Market opportunity by Application
- Exhibit 57: Market opportunity by Application ($ million)
8 Market Segmentation by Distribution Channel
- 8.1 Market segments
- Exhibit 58: Chart on Distribution Channel - Market share 2022-2027 (%)
- Exhibit 59: Data Table on Distribution Channel - Market share 2022-2027 (%)
- 8.2 Comparison by Distribution Channel
- Exhibit 60: Chart on Comparison by Distribution Channel
- Exhibit 61: Data Table on Comparison by Distribution Channel
- 8.3 Offline - Market size and forecast 2022-2027
- Exhibit 62: Chart on Offline - Market size and forecast 2022-2027 ($ million)
- Exhibit 63: Data Table on Offline - Market size and forecast 2022-2027 ($ million)
- Exhibit 64: Chart on Offline - Year-over-year growth 2022-2027 (%)
- Exhibit 65: Data Table on Offline - Year-over-year growth 2022-2027 (%)
- 8.4 Online - Market size and forecast 2022-2027
- Exhibit 66: Chart on Online - Market size and forecast 2022-2027 ($ million)
- Exhibit 67: Data Table on Online - Market size and forecast 2022-2027 ($ million)
- Exhibit 68: Chart on Online - Year-over-year growth 2022-2027 (%)
- Exhibit 69: Data Table on Online - Year-over-year growth 2022-2027 (%)
- 8.5 Market opportunity by Distribution Channel
- Exhibit 70: Market opportunity by Distribution Channel ($ million)
9 Customer Landscape
- 9.1 Customer landscape overview
- Exhibit 71: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
10 Geographic Landscape
- 10.1 Geographic segmentation
- Exhibit 72: Chart on Market share by geography 2022-2027 (%)
- Exhibit 73: Data Table on Market share by geography 2022-2027 (%)
- 10.2 Geographic comparison
- Exhibit 74: Chart on Geographic comparison
- Exhibit 75: Data Table on Geographic comparison
- 10.3 North America - Market size and forecast 2022-2027
- Exhibit 76: Chart on North America - Market size and forecast 2022-2027 ($ million)
- Exhibit 77: Data Table on North America - Market size and forecast 2022-2027 ($ million)
- Exhibit 78: Chart on North America - Year-over-year growth 2022-2027 (%)
- Exhibit 79: Data Table on North America - Year-over-year growth 2022-2027 (%)
- 10.4 APAC - Market size and forecast 2022-2027
- Exhibit 80: Chart on APAC - Market size and forecast 2022-2027 ($ million)
- Exhibit 81: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
- Exhibit 82: Chart on APAC - Year-over-year growth 2022-2027 (%)
- Exhibit 83: Data Table on APAC - Year-over-year growth 2022-2027 (%)
- 10.5 Europe - Market size and forecast 2022-2027
- Exhibit 84: Chart on Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 85: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 86: Chart on Europe - Year-over-year growth 2022-2027 (%)
- Exhibit 87: Data Table on Europe - Year-over-year growth 2022-2027 (%)
- 10.6 South America - Market size and forecast 2022-2027
- Exhibit 88: Chart on South America - Market size and forecast 2022-2027 ($ million)
- Exhibit 89: Data Table on South America - Market size and forecast 2022-2027 ($ million)
- Exhibit 90: Chart on South America - Year-over-year growth 2022-2027 (%)
- Exhibit 91: Data Table on South America - Year-over-year growth 2022-2027 (%)
- 10.7 Middle East and Africa - Market size and forecast 2022-2027
- Exhibit 92: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
- Exhibit 93: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
- Exhibit 94: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- Exhibit 95: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- 10.8 US - Market size and forecast 2022-2027
- Exhibit 96: Chart on US - Market size and forecast 2022-2027 ($ million)
- Exhibit 97: Data Table on US - Market size and forecast 2022-2027 ($ million)
- Exhibit 98: Chart on US - Year-over-year growth 2022-2027 (%)
- Exhibit 99: Data Table on US - Year-over-year growth 2022-2027 (%)
- 10.9 China - Market size and forecast 2022-2027
- Exhibit 100: Chart on China - Market size and forecast 2022-2027 ($ million)
- Exhibit 101: Data Table on China - Market size and forecast 2022-2027 ($ million)
- Exhibit 102: Chart on China - Year-over-year growth 2022-2027 (%)
- Exhibit 103: Data Table on China - Year-over-year growth 2022-2027 (%)
- 10.10 UK - Market size and forecast 2022-2027
- Exhibit 104: Chart on UK - Market size and forecast 2022-2027 ($ million)
- Exhibit 105: Data Table on UK - Market size and forecast 2022-2027 ($ million)
- Exhibit 106: Chart on UK - Year-over-year growth 2022-2027 (%)
- Exhibit 107: Data Table on UK - Year-over-year growth 2022-2027 (%)
- 10.11 Germany - Market size and forecast 2022-2027
- Exhibit 108: Chart on Germany - Market size and forecast 2022-2027 ($ million)
- Exhibit 109: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
- Exhibit 110: Chart on Germany - Year-over-year growth 2022-2027 (%)
- Exhibit 111: Data Table on Germany - Year-over-year growth 2022-2027 (%)
- 10.12 India - Market size and forecast 2022-2027
- Exhibit 112: Chart on India - Market size and forecast 2022-2027 ($ million)
- Exhibit 113: Data Table on India - Market size and forecast 2022-2027 ($ million)
- Exhibit 114: Chart on India - Year-over-year growth 2022-2027 (%)
- Exhibit 115: Data Table on India - Year-over-year growth 2022-2027 (%)
- 10.13 Market opportunity by geography
- Exhibit 116: Market opportunity by geography ($ million)
11 Drivers, Challenges, and Trends
- 11.1 Market drivers
- 11.2 Market challenges
- 11.3 Impact of drivers and challenges
- Exhibit 117: Impact of drivers and challenges in 2022 and 2027
- 11.4 Market trends
12 Vendor Landscape
- 12.1 Overview
- 12.2 Vendor landscape
- Exhibit 118: Overview on Criticality of inputs and Factors of differentiation
- 12.3 Landscape disruption
- Exhibit 119: Overview on factors of disruption
- 12.4 Industry risks
- Exhibit 120: Impact of key risks on business
13 Vendor Analysis
- 13.1 Vendors covered
- Exhibit 121: Vendors covered
- 13.2 Market positioning of vendors
- Exhibit 122: Matrix on vendor position and classification
- 13.3 Balta Group NV
- Exhibit 123: Balta Group NV - Overview
- Exhibit 124: Balta Group NV - Business segments
- Exhibit 125: Balta Group NV - Key offerings
- Exhibit 126: Balta Group NV - Segment focus
- 13.4 Berkshire Hathaway Inc.
- Exhibit 127: Berkshire Hathaway Inc. - Overview
- Exhibit 128: Berkshire Hathaway Inc. - Business segments
- Exhibit 129: Berkshire Hathaway Inc. - Key news
- Exhibit 130: Berkshire Hathaway Inc. - Key offerings
- Exhibit 131: Berkshire Hathaway Inc. - Segment focus
- 13.5 BRINTONS AGNELLA Ltd.
- Exhibit 132: BRINTONS AGNELLA Ltd. - Overview
- Exhibit 133: BRINTONS AGNELLA Ltd. - Product / Service
- Exhibit 134: BRINTONS AGNELLA Ltd. - Key offerings
- 13.6 Capel Inc.
- Exhibit 135: Capel Inc. - Overview
- Exhibit 136: Capel Inc. - Product / Service
- Exhibit 137: Capel Inc. - Key offerings
- 13.7 Dixie Group Inc
- Exhibit 138: Dixie Group Inc - Overview
- Exhibit 139: Dixie Group Inc - Product / Service
- Exhibit 140: Dixie Group Inc - Key offerings
- 13.8 Harounian Rugs International
- Exhibit 141: Harounian Rugs International - Overview
- Exhibit 142: Harounian Rugs International - Product / Service
- Exhibit 143: Harounian Rugs International - Key offerings
- 13.9 Kalaty Rug Corp.
- Exhibit 144: Kalaty Rug Corp. - Overview
- Exhibit 145: Kalaty Rug Corp. - Product / Service
- Exhibit 146: Kalaty Rug Corp. - Key offerings
- 13.10 Loloi Inc.
- Exhibit 147: Loloi Inc. - Overview
- Exhibit 148: Loloi Inc. - Product / Service
- Exhibit 149: Loloi Inc. - Key offerings
- 13.11 Milliken and Co.
- Exhibit 150: Milliken and Co. - Overview
- Exhibit 151: Milliken and Co. - Product / Service
- Exhibit 152: Milliken and Co. - Key news
- Exhibit 153: Milliken and Co. - Key offerings
- 13.12 Mohawk Industries Inc.
- Exhibit 154: Mohawk Industries Inc. - Overview
- Exhibit 155: Mohawk Industries Inc. - Business segments
- Exhibit 156: Mohawk Industries Inc. - Key offerings
- Exhibit 157: Mohawk Industries Inc. - Segment focus
- 13.13 Momeni Inc.
- Exhibit 158: Momeni Inc. - Overview
- Exhibit 159: Momeni Inc. - Product / Service
- Exhibit 160: Momeni Inc. - Key offerings
- 13.14 Nourison
- Exhibit 161: Nourison - Overview
- Exhibit 162: Nourison - Product / Service
- Exhibit 163: Nourison - Key offerings
- 13.15 Oriental Weavers Group
- Exhibit 164: Oriental Weavers Group - Overview
- Exhibit 165: Oriental Weavers Group - Business segments
- Exhibit 166: Oriental Weavers Group - Key offerings
- Exhibit 167: Oriental Weavers Group - Segment focus
- 13.16 Safavieh LLC
- Exhibit 168: Safavieh LLC - Overview
- Exhibit 169: Safavieh LLC - Product / Service
- Exhibit 170: Safavieh LLC - Key offerings
- 13.17 STEPEVI Group
- Exhibit 171: STEPEVI Group - Overview
- Exhibit 172: STEPEVI Group - Product / Service
- Exhibit 173: STEPEVI Group - Key offerings
14 Appendix
- 14.1 Scope of the report
- 14.2 Inclusions and exclusions checklist
- Exhibit 174: Inclusions checklist
- Exhibit 175: Exclusions checklist
- 14.3 Currency conversion rates for US$
- Exhibit 176: Currency conversion rates for US$
- 14.4 Research methodology
- Exhibit 177: Research methodology
- Exhibit 178: Validation techniques employed for market sizing
- Exhibit 179: Information sources
- 14.5 List of abbreviations
- Exhibit 180: List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Email: [email protected]
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