Press release
Flooring Market Detail Analysis focusing on Key Players like Mohawk Industries, Tarkett, Shaw Floors, Armstrong, Mannington Mills, Marazzi Group & More
Flooring
Flooring Market size is estimated to exceed USD 450 Billion by 2024. Rising construction spending on residential as well as non-residential buildings particularly in emerging nations will propel the industry growth. Global construction spending is anticipated to reach USD 16 Trillion by 2024. China leads the global infrastructure development with over USD 2 Trillion by 2024.
Shifting focus on infrastructure development on residential, commercial, hospitability, sports and healthcare industries will drive the flooring market growth. Necessity for floor protection coupled with rising demand for efficient and visually appealing products has enhanced the product demand.
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High product penetration in industrial applications including automobile, aerospace, aviation and electronic appliances will propel the flooring market size. Rapid urbanization accompanied by changing consumer lifestyles will create new opportunities for industry demand.
LVT will witness CAGR over 6% up to 2024. Improved comfort, resilience, environmental safety and ease of installation are the key properties fueling the product penetration. Additionally, wide range product portfolio due to ease in designing will open lucrative opportunities for business growth.
Global flooring market share was led by soft coverings with accounting for over 35% in 2016. Rising demand for carpet & rugs particularly in housing and offices will drive the demand. Reduced noising effect and dust binding are the key properties stimulating the product scope.
Industrial segment is expected to surpass USD 20 billion by 2024. Shifting manufacturer preference towards product enduring heavy duty operations will support the industry demand. Rising demand from chemical, automotive, food, manufacturing and transportation industries due to its benefits including abrasion and impact resistance.
Residential application will witness growth over 5.5% up to 2024. Recovery of housing sector particularly in the U.S. and Europe will fuel the product demand. Increasing renovation projects along with rising demand for decorative floor coverings are the major factors fueling the industry growth.
Europe flooring market was valued over USD 70 Billion in 2016. Increasing construction output along with rising demand for green buildings are the key driving factors of the industry growth. Economic development accompanied by inclination towards tourism development will drive the regional demand.
APAC flooring market was worth more than USD 110 billion in 2016. Growing population has enhanced the demand for residential constructions particularly in China and India. Increasing manufacturing facilities due to socio economic benefits will propel the product demand from industrial applications.
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North America flooring market is expected to witness growth over 5% up to 2024. Growth in construction industry along with increasing investment on restoration of deficient structures will drive the regional demand.
Global industry share mainly includes Mohawk Industries, Tarkett, Shaw Floors, Armstrong, Mannington Mills and Marazzi Group. Presence of large number of regional manufacturers keeps the global industry share fragmented. Product innovations, portfolio expansion, joint ventures and acquisitions are the major strategies adopted.
Table of Content:
Chapter 1 Methodology & Scope
Chapter 2 Executive Summary
Chapter 3 Flooring Industry Insights
Chapter 4 Flooring Market, By Product
Chapter 5. Flooring Market, By Application
Chapter 6 Flooring Market, By Region
Chapter 7 Company Profiles
More Details on this Report At: https://www.marketstudyreport.com/reports/flooring-market
Related Report:
2018-2023 Global Resilient Flooring Consumption Market Report
This report presents a comprehensive overview, market shares, and growth opportunities of Resilient Flooring market by product type, application, key manufacturers and key regions. Resilient Flooring will register a 7.0% CAGR in terms of revenue, reach US$ 16600 million by 2023, from US$ 11100 million in 2017.
https://www.marketstudyreport.com/reports/2018-2023-global-resilient-flooring-consumption-market-report/?utm_source=RR-PSR
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