Flooring Market size to increase by USD 173.2 Billion between 2024 to 2029, Market Segmentation by End-user, Type, Geography , Technavio

NEW YORK, Jan. 9, 2025 /PRNewswire/ -- The global flooring market size is estimated to grow by USD 173.2 billion from 2025 to 2029, according to Technavio. The market is estimated to grow at a CAGR of 6% during the forecast period. The report provides a comprehensive forecast of key segments below- 

Segmentation Overview

1. End-user 
• 1.1 Residential
• 1.2 Non-residential
2. Type 
• 2.1 Non-resilient flooring
• 2.2 Resilient flooring
• 2.3 Soft cover flooring
3. Geography 
• 3.1 APAC
• 3.2 North America
• 3.3 Europe
• 3.4 Middle East and Africa
• 3.5 South America

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1.1 Fastest growing segment:

The global population growth is driving an increase in residential construction activities, particularly in urban areas of APAC, MEA, and South America. This trend is due to urbanization and population density changes, resulting from rural-to-urban migration. New residential projects, including multifamily housing, are gaining popularity, especially in developing economies. In APAC alone, over 38 million new housing units are expected to be developed during the forecast period, accounting for more than 60% of the global share in 2023. The decline in average family household size and rising interest in urban residential projects will continue to boost this growth. As a result, the residential building and construction industry in these regions will expand, leading to increased demand for flooring in the residential segment during the forecast period.

Analyst Review

The flooring market encompasses a wide range of products and trends, catering to various sectors and budgets. Sustainable flooring options, such as bamboo and cork, are increasingly popular due to their eco-friendly production and low-maintenance properties. Modern flooring designs incorporate high-performance materials, like resilient and luxury vinyl, offering durability and aesthetic appeal. Residential flooring solutions include engineered wood and tile, while commercial spaces opt for fire-resistant and soundproof flooring. Innovative materials, like recycled rubber and textured linoleum, add to the diversity of offerings. Flooring implementation involves careful consideration of usage, design, and installation services to ensure longevity and functionality. Maintenance tips and warranty information are crucial for maintaining the beauty and performance of flooring investments. Flooring trends include waterproof, anti-slip, and eco-friendly options, with a focus on superior design and durability. Commercial carpet maintenance and office flooring pricing are essential topics for businesses seeking cost-effective and functional flooring solutions. Flooring growth is driven by advancements in technology, consumer demand for sustainability, and the need for versatile, long-lasting flooring options.

Market Overview

The flooring market has experienced significant growth in recent time due to the increasing construction of residential and non-residential buildings, urbanization, and rising population. Comfort and durability are key factors driving demand for flooring, with many options available such as vinyl flooring and resilient flooring. The regulatory framework for flooring production is stringent to ensure safety and quality. Flooring plays a crucial role in insulation, both for temperature and sound, making it essential for both residential and commercial buildings. Innovative construction techniques and designs have led to easy-to-install flooring systems, enhancing productivity and reducing installation costs. The market is highly competitive, with a focus on creating flooring that is both aesthetically pleasing and functional. Sustainability is also a growing concern, with many companies exploring recycling and eco-friendly flooring options. Textures and acoustic environments are also important considerations for flooring in commercial spaces, hospitals, and other verticals. Investments in flooring are seen as long-term solutions, with flooring systems designed to be low-maintenance and durable. The market is expected to continue growing due to increasing disposable income and the need for flooring that can withstand intense usage in various settings.

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 1 Executive Summary
 2 Market Landscape
 3 Market Sizing
 4 Historic Market Size
 5 Five Forces Analysis
 6 Market Segmentation
 7 Customer Landscape
 8 Geographic Landscape
 9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
12 Appendix

About Technavio

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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SOURCE Technavio