1. What is the projected Compound Annual Growth Rate (CAGR) of the Carpets & Rugs Market ?
The projected CAGR is approximately 10.03%.
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Carpets & Rugs Market Carpets & Rugs Market by Product Type (Knotted Pile, Needle Punched, Woven, Tufted, Others), by Material (Animal-made Yarn, Plant-made Yarn, Synthetic Fibers), by Application (Residential, Commercial), by By Region North America (U.S., Canada, Mexico) Forecast 2025-2033
The Carpets & Rugs Market size was valued at USD 50.29 USD Billion in 2023 and is projected to reach USD 98.19 USD Billion by 2032, exhibiting a CAGR of 10.03 % during the forecast period. Carpets and rugs fall in the category of textile floor coverings that play an important role in not only making the interior decoration texted appealing and livable but also functional. They are used in communal and private spaces: in homes, businesses, etc. They create a likeable place and soundproof the room. This is a further departure from the sole cloth shoe that the pioneers used to use. First, these varieties of materials are different, and these also differ in terms of texture, strength and maintenance properties. These floor coverings normally have a face yarn replaced with another material which is the backing and sometimes with advantage of padding, the comfort will be add up to the existing floor. Right now in the field of design for carpets and rugs, we've got such trends as green/eco-friendly materials, bold patterns and customization to appeal to anyone's interior taste.
Product Type:
Material:
Application:
This comprehensive report meticulously examines the global Carpets & Rugs Market, providing an in-depth analysis of the market landscape and its dynamics:
Consumers value carpeting for its comfort, aesthetic appeal, and noise reduction properties.
| Aspects | Details |
|---|---|
| Study Period | 2019-2033 |
| Base Year | 2024 |
| Estimated Year | 2025 |
| Forecast Period | 2025-2033 |
| Historical Period | 2019-2024 |
| Growth Rate | CAGR of 10.03% from 2019-2033 |
| Segmentation |
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Note*: In applicable scenarios
Primary Research
Secondary Research
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
The projected CAGR is approximately 10.03%.
Key companies in the market include Tai Ping Carpets International Ltd. (China), Mohawk Industries Inc. (U.S.), Lowe's Companies Inc. (U.S.), Tarkett Group (France), Victoria Carpets Ltd. (U.S.), Shaw Industries Group Inc. (U.S.), Inter Ikea Systems B.V. (Netherlands), Genie Carpet Manufacturers (India), Beaulieu International Group (Belgium), Royalty Carpet Mills Inc. (U.S.), Oriental Weavers Company (Egypt).
The market segments include Product Type, Material, Application.
The market size is estimated to be USD 50.29 USD Billion as of 2022.
Growing Demand for Bath Towels from End-use Industries to Propel the Market Growth.
Dental Spas to Add Impetus to Industry Growth.
High Raw Material Prices Rules and Increasing Duties by Government to Restrain Market Growth.
Acquisitions and mergers: Major players acquire smaller companies to expand their product portfolios and diversify their revenue streams. Joint ventures: Partnerships between carpet manufacturers and fiber suppliers enhance research and development capabilities. Technological collaborations: Industry collaborations drive innovation and the development of smart carpets and rugs.
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The market size is provided in terms of value, measured in USD Billion and volume, measured in Thousand Tons.
Yes, the market keyword associated with the report is "Carpets & Rugs Market ," which aids in identifying and referencing the specific market segment covered.
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