Carpet Market Size, Trends and Insights By Product Type (Woven, Knotted, Needle Felt, Tufted), By Raw Material Type (Nylon, Polypropylene, Polyester, Acrylic, Wools & its blends), By End Use (Residential, Commercial, Industrial), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032


Report Code: CMI23698

Published Date: May 2023

Pages: 220+

Category: Homecare & Decor

Report Snapshot

CAGR: 4.6%
64.99B
2022
68.23B
2023
97.41B
2032

Source: CMI

Study Period: 2023-2032
Fastest Growing Market: Asia-Pacific
Largest Market: Europe

Major Players

  • Lowe’s Companies Inc.
  • Mohawk Industries Inc.
  • Feltex Carpets
  • Saif Carpets
  • Cormar Carpet Co.
  • Others

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Reports Description

As per the current market research conducted by CMI Market Research Team, the global Salon market is expected to record a CAGR of 4.6% from 2023 to 2032. In 2022, the market size is projected to reach a valuation of USD 64.99 billion. By 2032, the valuation is anticipated to reach USD 97.41 billion.

The carpet market refers to the industry that is involved in the manufacturing, distribution, and sale of carpets, rugs, and other flooring products. The market includes various types of carpets, such as tufted, woven, needle-felt, and knotted carpets, as well as carpet tiles and area rugs. Carpets are used in both residential and commercial settings, with demand being driven by factors such as aesthetics, comfort, insulation, acoustics, and safety.

The carpet market is a significant component of the global flooring industry and is influenced by various factors, including economic conditions, trends in interior design, technological advancements, and environmental concerns.

Carpet Market – Significant Growth Factors

The carpet market has experienced several significant growth trends in recent years. Here are some of the key trends:

  • Increased demand for eco-friendly carpets: There has been a growing demand for carpets made from sustainable and recyclable materials. Consumers are becoming more environmentally conscious, and as a result, are seeking out eco-friendly carpet options.
  • Emphasis on design and aesthetics: The design and aesthetic appeal of carpets have become increasingly important, especially in residential settings. Consumers are looking for carpets that can enhance the visual appeal of their homes and compliment their interior décor.
  • Growth of the construction industry: The growth of the construction industry, particularly in developing countries, has resulted in increased demand for carpets in commercial and residential buildings.
  • Technological advancements: Advances in carpet manufacturing technology have led to the production of high-performance carpets with improved durability, stain resistance, and ease of maintenance.
  • Increase in renovation and remodeling projects: With more people staying in their homes and looking to upgrade their living spaces, the demand for carpets in renovation and remodeling projects has increased.
  • Online sales and distribution: The rise of e-commerce has enabled customers to purchase carpets online, making it easier for them to access a wider range of products and compare prices.

These growth trends are expected to continue driving the expansion of the carpet market in the coming years.

Carpet Market – Significant Opportunities

The carpet market offers several significant opportunities for growth and development. Here are some of the key opportunities:

  • Expansion into emerging markets: Emerging markets, particularly in Asia-Pacific and Latin America, present a significant opportunity for carpet manufacturers to expand their customer base and increase sales.
  • Diversification of product offerings: Carpet manufacturers can explore opportunities to diversify their product offerings, such as expanding into luxury carpets, eco-friendly carpets, and customized carpets for commercial and residential settings.
  • Technological innovation: Continued investment in research and development to create innovative carpets with improved performance and eco-friendly features can help manufacturers gain a competitive edge in the market.
  • Partnerships and collaborations: Partnerships and collaborations between carpet manufacturers, architects, designers, and contractors can help drive demand for carpets in construction and renovation projects.
  • Online sales and marketing: The growing trend of online sales and marketing offers an opportunity for carpet manufacturers to expand their customer base and increase sales by leveraging e-commerce platforms and social media.
  • Sustainability: There is a growing demand for sustainable carpets, which creates opportunities for manufacturers to invest in environmentally friendly production processes and materials, and market their products as eco-friendly.

These opportunities can help carpet manufacturers to diversify their customer base, increase sales, and stay competitive in the market.

Carpet Market – Mergers and Acquisitions

The carpet market has seen several mergers and acquisitions in recent years. Here are some examples:

  • Mohawk Industries, a leading carpet manufacturer, acquired Pergo, a manufacturer of laminate flooring, in 2013. This acquisition expanded Mohawk’s product offerings and strengthened its position in the flooring market.
  • Shaw Industries, another leading carpet manufacturer, acquired USFloors, a manufacturer of luxury vinyl flooring, in 2016. This acquisition helped Shaw to expand its product portfolio and enter the growing luxury vinyl flooring market.
  • Interface, a global carpet tile manufacturer, acquired Nora Systems, a manufacturer of rubber flooring, in 2018. This acquisition helped Interface to diversify its product offerings and enter the rubber flooring market.
  • The Dixie Group, a manufacturer of residential and commercial carpets, acquired Atlas Carpet Mills, a manufacturer of commercial carpets, in 2019. This acquisition helped Dixie to expand its customer base and product offerings in the commercial carpet market.
  • Engineered Floors, a carpet manufacturer, acquired Beaulieu Group, a leading flooring manufacturer, in 2018. This acquisition helped Engineered Floors to expand its product offerings and distribution channels in the flooring market.

These mergers and acquisitions have helped carpet manufacturers to expand their product offerings, diversify their customer base, and improve their market position. They also indicate a trend towards consolidation in the carpet market, as manufacturers seek to gain a competitive edge through acquisitions and partnerships.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

Carpet Market Europe Carpets and Rugs Market Carpets and Rugs Market
CAGR 4.6% (Approx) CAGR .6%

(Approx)

5.5%

(Approx)

US$ 97.41 Billion by 2032 USD 32.76 Billion by 2032 USD 120 Billion by 2032

Carpet Market – Significant Threats

The carpet market faces several significant threats that could impact its growth and profitability. Here are some of the key threats:

  • Competition from other flooring options: Carpets face competition from other types of flooring options, such as hardwood, vinyl, and tile, which can offer similar or better performance at comparable prices.
  • Economic downturns: Economic downturns can impact consumer spending on carpets, particularly in the residential market, where purchases are often discretionary.
  • Environmental concerns: Concerns over the environmental impact of carpets, including the use of non-biodegradable materials and chemicals in production and disposal, could result in increased regulations and consumer preferences for alternative flooring options.
  • Disruptive technologies: The emergence of disruptive technologies, such as 3D printing and digital printing, could lead to the development of alternative manufacturing methods for carpets and shift consumer preferences towards newer, more innovative products.
  • Raw material price fluctuations: Fluctuations in the price of raw materials, such as synthetic fibers and natural fibers like wool, can impact the cost of carpet production and affect profit margins.
  • Changing consumer preferences: Changing consumer preferences for flooring materials and designs, influenced by trends in interior design and lifestyle choices, can impact demand for carpets and shift market dynamics.

These threats highlight the need for carpet manufacturers to remain competitive by investing in research and development, diversifying their product offerings, and staying attuned to changing consumer preferences and market trends.

Report Scope

Feature of the Report Details
Market Size in 2023 USD 68.23 Billion
Projected Market Size in 2032 USD 97.41 Billion
Market Size in 2022 USD 64.99 Billion
CAGR Growth Rate 4.6% CAGR
Base Year 2022
Forecast Period 2023-2032
Key Segment By Product Type, Raw Material Type, End Use, and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Category-Wise Insights

Product Type:

  • Woven carpets: Woven carpets are made using traditional weaving techniques and are known for their durability and intricate designs. They are typically made from natural materials such as wool, cotton, or silk, and are often used in high-end residential and commercial settings.
  • Knotted carpets: Knotted carpets are made by hand or machine using a knotting technique to create a pile surface. They are known for their soft texture and intricate designs, and are often made from wool or silk. They are popular in luxury residential and commercial settings.
  • Needle felt carpets: Needle felt carpets are made by interlocking fibers using a needle punching technique to create a dense, durable surface. They are typically made from synthetic fibers, such as polyester or polypropylene, and are commonly used in commercial settings, such as offices and hotels.
  • Tufted carpets: Tufted carpets are made using a machine that inserts yarn into a backing material to create a pile surface. They are versatile, affordable, and easy to install, making them popular in residential and commercial settings. They can be made from a range of materials, including synthetic fibers, wool, and cotton.

Global Carpet Market 2023–2032 (By Billion)

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By Raw Material:

  • Nylon carpets: Nylon is a durable and versatile synthetic material that is commonly used in carpets. It is known for its resilience and resistance to wear and tear, making it a popular choice for high-traffic areas such as offices and commercial spaces.
  • Polypropylene carpets: Polypropylene is another synthetic material that is commonly used in carpets. It is lightweight, stain-resistant, and affordable, making it a popular choice for residential and commercial applications.
  • Polyester carpets: Polyester is a synthetic material that is known for its softness and vibrant color options. It is commonly used in residential settings, as it is affordable and easy to clean.
  • Acrylic carpets: Acrylic is a synthetic material that is known for its wool-like appearance and soft texture. It is commonly used in residential settings, as it is affordable and easy to clean.
  • Wool carpets: Wool is a natural material that is known for its softness and durability. It is a popular choice for high-end residential and commercial settings, as it is more expensive than synthetic materials but offers superior performance and aesthetics.
  • Blends of these materials: Many carpets are made from blends of two or more of these materials, combining the performance benefits of each material to create a carpet that is durable, affordable, and stylish.

By End Use:

  • Residential: Residential carpets are used in homes, apartments, and other residential settings. They are typically made from a range of materials, including wool, synthetic fibers, and blends, and come in a variety of styles and colors to suit different décor preferences.
  • Commercial: Commercial carpets are used in a wide range of commercial settings, including offices, retail stores, hotels, and restaurants. They are typically designed to be durable and easy to clean, with features such as stain resistance and low-pile construction to withstand heavy foot traffic.
  • Industrial: Industrial carpets are used in factories, warehouses, and other industrial settings. They are typically designed to be heavy-duty and resistant to wear and tear, with features such as anti-slip backing and high durability to withstand heavy machinery and foot traffic

Global Carpet Market 2023–2032 (By Product Type)

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Carpet Market – Regional Analysis

The carpet market can be analyzed based on regional segmentation, which includes North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Here’s a brief overview of the market in each region:

  • North America: North America is a mature market for carpets, with a high level of product penetration in the residential and commercial segments. The demand for carpets in North America is driven by factors such as aesthetic appeal, comfort, and insulation.
  • Europe: Europe is another mature market for carpets, with a high level of product penetration in the residential and commercial segments. The demand for carpets in Europe is driven by factors such as insulation, noise reduction, and aesthetic appeal.
  • Asia Pacific: Asia Pacific is the fastest-growing market for carpets, with a high demand for carpets in residential, commercial, and industrial segments. The demand for carpets in this region is driven by factors such as rapid urbanization, growth in the construction industry, and increasing disposable income.
  • Latin America: The demand for carpets in Latin America is driven by factors such as aesthetic appeal, comfort, and insulation. However, the market in this region is relatively small compared to other regions.
  • Middle East and Africa: The demand for carpets in the Middle East and Africa is driven by factors such as aesthetic appeal, comfort, and insulation. However, the market in this region is relatively small compared to other regions.

Regional analysis helps manufacturers and investors to identify opportunities for growth and expansion in different regions, based on factors such as economic growth, population demographics, and construction activity. It also helps to identify potential challenges and risks associated with operating in different regions, such as cultural differences and regulatory frameworks.

Competitive Landscape – Carpet Market

The carpet market is highly competitive, with a large number of global and regional players operating in the industry. Here’s a brief overview of some of the key players in the market:

  • Mohawk Industries: Mohawk Industries is one of the largest carpet manufacturers in the world, with a wide range of products for residential, commercial, and industrial applications.
  • Shaw Industries: Shaw Industries is another major player in the carpet market, offering a range of products for residential, commercial, and industrial applications.
  • Beaulieu International Group: Beaulieu International Group is a global carpet manufacturer with a focus on sustainable and innovative products for residential and commercial applications.
  • Interface Inc.: Interface Inc. is a leading manufacturer of commercial carpet tiles, with a focus on sustainability and innovative design.
  • Tarkett: Tarkett is a global manufacturer of flooring products, including carpets for residential and commercial applications.

Other notable players in the market include Balta Group, Dixie Group, Victoria PLC, Milliken & Company, and Tai Ping Carpets. The competitive landscape of the carpet market is characterized by intense competition, with players competing on factors such as price, product quality, innovation, and customer service. Manufacturers are also increasingly focusing on sustainability, with a growing demand for eco-friendly and recycled carpet products.

Global Carpet Market 2023–2032 (By End Use)

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The Carpet Market is segmented as follows:

By Product Type

  • Woven
  • Knotted
  • Needle Felt
  • Tufted

By Raw Material Type

  • Nylon
  • Polypropylene
  • Polyester
  • Acrylic
  • Wools & its blends

By End Use

  • Residential
  • Commercial
  • Industrial

By Region

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market research methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Carpet Market, (2023 – 2032) (USD Billion)
    • 2.2 Global Carpet Market : snapshot
  • Chapter 3. Global Carpet Market – Industry Analysis
    • 3.1 Carpet Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Increased demand for eco-friendly carpets
      • 3.2.2 Emphasis on design and aesthetics
      • 3.2.3 Growth of the construction industry
      • 3.2.4 Increase in renovation and remodeling projects
      • 3.2.5 Online sales and distribution.
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By Product Type
      • 3.7.2 Market attractiveness analysis By Raw Material Type
      • 3.7.3 Market attractiveness analysis By End Use
  • Chapter 4. Global Carpet Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Carpet Market: company market share, 2022
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Carpet Market – Product Type Analysis
    • 5.1 Global Carpet Market overview: By Product Type
      • 5.1.1 Global Carpet Market share, By Product Type, 2022 and 2032
    • 5.2 Woven
      • 5.2.1 Global Carpet Market by Woven, 2023 – 2032 (USD Billion)
    • 5.3 Knotted
      • 5.3.1 Global Carpet Market by Knotted, 2023 – 2032 (USD Billion)
    • 5.4 Needle Felt
      • 5.4.1 Global Carpet Market by Needle Felt, 2023 – 2032 (USD Billion)
    • 5.5 Tufted
      • 5.5.1 Global Carpet Market by Tufted, 2023 – 2032 (USD Billion)
  • Chapter 6. Global Carpet Market – Raw Material Type Analysis
    • 6.1 Global Carpet Market overview: By Raw Material Type
      • 6.1.1 Global Carpet Market share, By Raw Material Type, 2022 and 2032
    • 6.2 Nylon
      • 6.2.1 Global Carpet Market by Nylon, 2023 – 2032 (USD Billion)
    • 6.3 Polypropylene
      • 6.3.1 Global Carpet Market by Polypropylene, 2023 – 2032 (USD Billion)
    • 6.4 Polyester
      • 6.4.1 Global Carpet Market by Polyester, 2023 – 2032 (USD Billion)
    • 6.5 Acrylic
      • 6.5.1 Global Carpet Market by Acrylic, 2023 – 2032 (USD Billion)
    • 6.6 Wools & its blends
      • 6.6.1 Global Carpet Market by Wools & its blends, 2023 – 2032 (USD Billion)
  • Chapter 7. Global Carpet Market – End Use Analysis
    • 7.1 Global Carpet Market overview: By End Use
      • 7.1.1 Global Carpet Market share, By End Use, 2022 and 2032
    • 7.2 Residential
      • 7.2.1 Global Carpet Market by Residential, 2023 – 2032 (USD Billion)
    • 7.3 Commercial
      • 7.3.1 Global Carpet Market by Commercial, 2023 – 2032 (USD Billion)
    • 7.4 Industrial
      • 7.4.1 Global Carpet Market by Industrial, 2023 – 2032 (USD Billion)
  • Chapter 8. Carpet Market – Regional Analysis
    • 8.1 Global Carpet Market Regional Overview
    • 8.2 Global Carpet Market Share, by Region, 2022 & 2032 (USD Billion)
    • 8.3. North America
      • 8.3.1 North America Carpet Market, 2023 – 2032 (USD Billion)
        • 8.3.1.1 North America Carpet Market, by Country, 2023 – 2032 (USD Billion)
    • 8.4 North America Carpet Market, by Product Type, 2023 – 2032
      • 8.4.1 North America Carpet Market, by Product Type, 2023 – 2032 (USD Billion)
    • 8.5 North America Carpet Market, by Raw Material Type, 2023 – 2032
      • 8.5.1 North America Carpet Market, by Raw Material Type, 2023 – 2032 (USD Billion)
    • 8.6 North America Carpet Market, by End Use, 2023 – 2032
      • 8.6.1 North America Carpet Market, by End Use, 2023 – 2032 (USD Billion)
    • 8.7. Europe
      • 8.7.1 Europe Carpet Market, 2023 – 2032 (USD Billion)
        • 8.7.1.1 Europe Carpet Market, by Country, 2023 – 2032 (USD Billion)
    • 8.8 Europe Carpet Market, by Product Type, 2023 – 2032
      • 8.8.1 Europe Carpet Market, by Product Type, 2023 – 2032 (USD Billion)
    • 8.9 Europe Carpet Market, by Raw Material Type, 2023 – 2032
      • 8.9.1 Europe Carpet Market, by Raw Material Type, 2023 – 2032 (USD Billion)
    • 8.10 Europe Carpet Market, by End Use, 2023 – 2032
      • 8.10.1 Europe Carpet Market, by End Use, 2023 – 2032 (USD Billion)
    • 8.11. Asia Pacific
      • 8.11.1 Asia Pacific Carpet Market, 2023 – 2032 (USD Billion)
        • 8.11.1.1 Asia Pacific Carpet Market, by Country, 2023 – 2032 (USD Billion)
    • 8.12 Asia Pacific Carpet Market, by Product Type, 2023 – 2032
      • 8.12.1 Asia Pacific Carpet Market, by Product Type, 2023 – 2032 (USD Billion)
    • 8.13 Asia Pacific Carpet Market, by Raw Material Type, 2023 – 2032
      • 8.13.1 Asia Pacific Carpet Market, by Raw Material Type, 2023 – 2032 (USD Billion)
    • 8.14 Asia Pacific Carpet Market, by End Use, 2023 – 2032
      • 8.14.1 Asia Pacific Carpet Market, by End Use, 2023 – 2032 (USD Billion)
    • 8.15. Latin America
      • 8.15.1 Latin America Carpet Market, 2023 – 2032 (USD Billion)
        • 8.15.1.1 Latin America Carpet Market, by Country, 2023 – 2032 (USD Billion)
    • 8.16 Latin America Carpet Market, by Product Type, 2023 – 2032
      • 8.16.1 Latin America Carpet Market, by Product Type, 2023 – 2032 (USD Billion)
    • 8.17 Latin America Carpet Market, by Raw Material Type, 2023 – 2032
      • 8.17.1 Latin America Carpet Market, by Raw Material Type, 2023 – 2032 (USD Billion)
    • 8.18 Latin America Carpet Market, by End Use, 2023 – 2032
      • 8.18.1 Latin America Carpet Market, by End Use, 2023 – 2032 (USD Billion)
    • 8.19. The Middle-East and Africa
      • 8.19.1 The Middle-East and Africa Carpet Market, 2023 – 2032 (USD Billion)
        • 8.19.1.1 The Middle-East and Africa Carpet Market, by Country, 2023 – 2032 (USD Billion)
    • 8.20 The Middle-East and Africa Carpet Market, by Product Type, 2023 – 2032
      • 8.20.1 The Middle-East and Africa Carpet Market, by Product Type, 2023 – 2032 (USD Billion)
    • 8.21 The Middle-East and Africa Carpet Market, by Raw Material Type, 2023 – 2032
      • 8.21.1 The Middle-East and Africa Carpet Market, by Raw Material Type, 2023 – 2032 (USD Billion)
    • 8.22 The Middle-East and Africa Carpet Market, by End Use, 2023 – 2032
      • 8.22.1 The Middle-East and Africa Carpet Market, by End Use, 2023 – 2032 (USD Billion)
  • Chapter 9. Company Profiles
    • 9.1 Lowe’s Companies Inc.
      • 9.1.1 Overview
      • 9.1.2 Financials
      • 9.1.3 Product Portfolio
      • 9.1.4 Business Strategy
      • 9.1.5 Recent Developments
    • 9.2 Mohawk Industries Inc.
      • 9.2.1 Overview
      • 9.2.2 Financials
      • 9.2.3 Product Portfolio
      • 9.2.4 Business Strategy
      • 9.2.5 Recent Developments
    • 9.3 Feltex Carpets
      • 9.3.1 Overview
      • 9.3.2 Financials
      • 9.3.3 Product Portfolio
      • 9.3.4 Business Strategy
      • 9.3.5 Recent Developments
    • 9.4 Saif Carpets
      • 9.4.1 Overview
      • 9.4.2 Financials
      • 9.4.3 Product Portfolio
      • 9.4.4 Business Strategy
      • 9.4.5 Recent Developments
    • 9.5 Cormar Carpet Co.
      • 9.5.1 Overview
      • 9.5.2 Financials
      • 9.5.3 Product Portfolio
      • 9.5.4 Business Strategy
      • 9.5.5 Recent Developments
    • 9.6 Stainmaster
      • 9.6.1 Overview
      • 9.6.2 Financials
      • 9.6.3 Product Portfolio
      • 9.6.4 Business Strategy
      • 9.6.5 Recent Developments
    • 9.7 Dixie Group Inc.
      • 9.7.1 Overview
      • 9.7.2 Financials
      • 9.7.3 Product Portfolio
      • 9.7.4 Business Strategy
      • 9.7.5 Recent Developments
    • 9.8 Cambridge Mills
      • 9.8.1 Overview
      • 9.8.2 Financials
      • 9.8.3 Product Portfolio
      • 9.8.4 Business Strategy
      • 9.8.5 Recent Developments
    • 9.9 Others.
      • 9.9.1 Overview
      • 9.9.2 Financials
      • 9.9.3 Product Portfolio
      • 9.9.4 Business Strategy
      • 9.9.5 Recent Developments
List Of Figures

Figures No 1 to 28

List Of Tables

Tables No 1 to 77

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2030

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2030
  • Market revenue estimates and forecasts up to 2030, by technology
  • Market revenue estimates and forecasts up to 2030, by application
  • Market revenue estimates and forecasts up to 2030, by type
  • Market revenue estimates and forecasts up to 2030, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Players

  • Lowe’s Companies Inc.
  • Mohawk Industries Inc.
  • Feltex Carpets
  • Saif Carpets
  • Cormar Carpet Co.
  • Stainmaster
  • Dixie Group Inc.
  • Cambridge Mills
  • Others

FAQs

“North America” region will lead the global Carpet market during the forecast period 2023 to 2032.

The key factors driving the market are Increased demand for eco-friendly carpets, Emphasis on design and aesthetics, Growth of the construction industry, Increase in renovation and remodeling projects and Online sales and distribution.

The key players operating in the Carpet market are Lowe’s Companies Inc., Mohawk Industries Inc., Feltex Carpets, Saif Carpets, Cormar Carpet Co., Stainmaster, Dixie Group Inc., Cambridge Mills, Others.

The global Carpet market is expanding growth with a CAGR of approximately 4.6% during the forecast period (2023 to 2032).

The global Carpet market size was valued at USD 64.99 Billion in 2022 and it is projected to reach around USD 97.41 Billion by 2032.

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