North America Carpets and Rugs Market, Type (Carpet and Rugs), Product (Tufted, Woven, Needle-Punched, Flat-Weave, Hooked, Knotted, Others), Raw Material (Synthetic Fiber and Natural Fiber), Application (Residential and Commercial), Distribution Channel (Offline and Online) - Industry Trends and Forecast to 2031.
North America Carpets and Rugs Market Analysis and Size
The market is experiencing a notable increase in demand, primarily due to the growing interest in interior design and aesthetics in commercial spaces. This surge in demand can be attributed to several factors that are expected to drive the market's growth in the coming years. Carpet and rugs are one of the most preferred interior floor covering materials in commercial spaces. Commercial spaces use carpet and rugs in interior floor covering as these are available in various creative designs and shades that help to make the interior more pleasant, conceiving, gorgeous, eye-catching, attractive and other various conscious and unconscious factors that provide a sense of well-being and comfort.
Data Bridge Market Research analyzes that the North America carpets and rugs market is expected to reach USD 24,946.55 million by 2031 from USD 16,252.77 million in 2023, growing at a CAGR of 5.6% during the forecast period of 2024 to 2031. The growing demand for healthy and nutritious bakery products is expected to boost the market growth. The North America carpets and rugs market report also comprehensively covers pricing analysis, patent analysis, and technological advancements.
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Million
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Segments Covered
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Type (Carpet and Rugs), Product (Tufted, Woven, Needle-Punched, Flat-Weave, Hooked, Knotted, Others), Raw Material (Synthetic Fiber and Natural Fiber), Application (Residential and Commercial), Distribution Channel (Offline and Online)
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Countries Covered
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U.S., Canada, and Mexico
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Market Players Covered
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MOHAWK INDUSTRIES, INC., Shaw Industries Group, Inc., Mannington Mills, Inc., Interface, Inc., The Dixie Group, Inc., Tarkett, ORIENTAL WEAVERS, Milliken, Belysse, Inter IKEA Systems B.V., Floor Coverings International, Victoria PLC, Beaulieu International Group, Tai Ping, Brintons Carpets Limited., Amer Rugs, Axminster Carpets Ltd., Stevens Omni, Haima group and among others.
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Market Definition
The carpets and rugs are popular because of their aesthetic and practical qualities. It's an addition to floor coverings that adds to the overall beauty of a house or office's decor. Rugs and carpets protect floors by adding a layer of padding. Rugs and carpets are a blessing for people who live in cold climates because they keep the floor from being too cold. The major applications of carpets and rugs involve commercial, residential and industries. In developed economies, carpets and rugs have higher demand.
North America Carpets and Rugs Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of this is discussed in detail below:
Drivers
- Growing Focus on Interior Design and Aesthetics in Commercial Spaces
The market is experiencing a notable increase in demand, primarily due to the growing interest in interior design and aesthetics in commercial spaces. This surge in demand can be attributed to several factors that are expected to drive the market's growth in the coming years. Carpet and rugs are one of the most preferred interior floor covering materials in commercial spaces. Commercial spaces use carpet and rugs in interior floor covering as these are available in various creative designs and shades that help to make the interior more pleasant, conceiving, gorgeous, eye-catching, attractive and other various conscious and unconscious factors that provide a sense of well-being and comfort.
- Recyclability and Reusability of Carpet
Recyclability and reusability are expected to play a significant role in driving the market. The carpet industry has traditionally been associated with environmental concerns due to the disposal of old carpets in landfills, which contributes to waste and pollution. However, with increasing awareness of sustainability and the circular economy, there is a growing emphasis on making carpets more eco-friendly and extending their lifecycle through recycling and reusability.
Opportunities
- Rise In Eco-Friendly Carpets & Rugs
The increase in eco-friendly carpets and rugs presents a significant opportunity for the market. This trend is driven by growing environmental awareness, consumer preferences for sustainable products, and stricter regulations on the use of chemicals and non-biodegradable materials in manufacturing. They seek products that align with their values, and eco-friendly carpets and rugs are a natural choice as consumers become more conscious of their ecological footprint. This trend is not only a response to environmental concerns but also a reflection of changing consumer behaviors and preferences.
- Increase in E-Commerce and Online Sales
The increasing prevalence of e-commerce and online sales is proving to be a significant opportunity for the market. This shift in consumer behavior has led to a transformation in the way customers shop for home furnishings, including carpets and rugs. Online platforms offer a wide array of products, allowing consumers to browse through an extensive selection from the comfort of their own homes. This level of convenience has resulted in a considerable surge in online carpet and rug sales.
Restraints
- Increasing Raw Material Price
The market, such as many other industries, is subject to fluctuations in raw material prices. When raw material prices increase, it can have several impacts on the market. Carpets & rugs are highly impacted by the prices of raw materials used in the production process. There were internal and external pressures faced by the flooring industry in the year 2018, which impacted the sales of the product. The increase in the prices of raw materials and transportation costs reduced the profits, and the tariff issue activated a wave of price-hedging purchases. Both developed and developing countries are facing continuous increases in the prices of raw materials.
- High Maintenance Cost
The market is a significant industry that encompasses the production, sale, and maintenance of carpets and rugs across the region. While it has seen steady growth over the years, one of the major challenges faced by this market is the high maintenance costs associated with carpets and rugs. This factor is expected to act as a restraint on the market's growth.
Firstly, carpets and rugs require regular cleaning and maintenance to retain their appearance and functionality. This involves vacuuming, deep cleaning, and potentially hiring professional services, all of which incur costs. The need for maintenance is particularly high in high-traffic areas, commercial spaces, and homes with pets and children. This ongoing expense can deter some consumers from investing in carpets and rugs, especially those on a tight budget. Secondly, the cost of maintenance materials and services, such as cleaning agents, equipment, and labor, can vary significantly. High-quality carpets and rugs often require specialized cleaning to prevent damage, which can be expensive. The inconsistency in pricing for maintenance services can be a concern for consumers, making them hesitant to invest in premium carpet and rug products.
Recent Developments
- In June 2023, Patcraft, MOHAWK INDUSTRIES, INC., and Shaw Contract were recognized with Best of NeoCon Awards in various flooring categories at NeoCon 2023, highlighting their innovative designs. In addition, the Flote Lounge Collection by Hightower earned the prestigious Best of Competition honor, emphasizing the evolving needs of today's diverse workspaces. These awards signify the industry's commitment to creating a balanced and user-centric built environment.
- In May 2023, MOHAWK INDUSTRIES, INC. has been recognized as one of America's Climate Leaders for significant carbon footprint reductions, distinguishing itself as the sole flooring manufacturer in this distinction. This underscores Mohawk's commitment to sustainability and environmental responsibility.
North America Carpets and Rugs Market Scope
North America carpets and rugs market is segmented on the basis of type, product, raw material, application, and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Carpet
- Rugs
On the basis of type, the market is segmented into carpet and rugs.
Product
- Tufted
- Woven
- Needle-Punched
- Flat-Weave
- Hooked
- Knotted
- Others
On the basis of product, the market is segmented into tufted, woven, needle-punched, flat-weave, hooked, knotted and others.
Raw Material
- Synthetic Fiber
- Natural Fiber
On the basis of raw material, the market is segmented into synthetic fiber and natural fiber.
Application
- Commercial
- Residential
On the basis of application, the market is segmented into residential and commercial.
Distribution Channel
- Offline
- Online
On the basis of distribution channel, the market is segmented into offline and online.
North America Carpets And Rugs Market Regional Analysis/Insights
North America carpets and rugs market is segmented on the basis of type, product, raw material, application, and distribution channel.
The countries covered in the North America carpets and rugs market report are U.S., Canada, and Mexico.
U.S. is expected to dominate the market due to Increasing preference over other flooring material in developing countries.
The country section of North America carpets and rugs market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of regions brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and North America Carpets and Rugs Market Share
North America carpets and rugs market competitive landscape provides details of the competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, and new market initiatives. The above data points provided are only related to the companies' focus related to North America carpets and rugs market. Some of the major players operating in the market are MOHAWK INDUSTRIES, INC., Shaw Industries Group, Inc., Mannington Mills, Inc., Interface, Inc., The Dixie Group, Inc., Tarkett, ORIENTAL WEAVERS, Milliken, Belysse, Inter IKEA Systems B.V., Floor Coverings International, Victoria PLC, Beaulieu International Group, Tai Ping, Brintons Carpets Limited., Amer Rugs, Axminster Carpets Ltd., Stevens Omni, and Haima group among others.
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