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Modular Flooring Market worth $72.5 billion by 2026 | Key players Mohawk Industries, Shaw Industries, Tarkett, Armstrong Flooring, Forbo

05-27-2022 10:59 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: MarketsandMarkets

Modular Flooring Market

Modular Flooring Market

According to recent market research "Modular Flooring Market by Product Type (Flexible LVT, Rigid LVT, Carpet Tile, Polyolefin, Rubber, Ceramic), End use (Workplace, Education, Healthcare, Retail, Household) & Region (North America, APAC, MEA, Europe, RoW) - Global Forecast to 2026", The global modular flooring market is estimated to be USD 54.6 billion in 2021 and is projected to reach USD 72.5 billion by 2026, at a CAGR of 5.8% from 2021 to 2026. The driving factors for the modular flooring market growth in investments in the construction industry, coupled with a rise in the number of renovation & remodeling activities. The rise in demand from emerging economies and the growth of the organized retail sector create growth opportunities for the market.

Browse 300 market data Tables and 32 Figures spread through 259 Pages and in-depth TOC on "Modular Flooring Market - Global Forecast to 2026"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/modular-flooring-market-245251867.html

Carpet tile flooring is a type of flooring that can be used as an alternative to the more commonly used broadloom carpet (rolls). They provide warmth and underfoot comfort expected from carpet and is available in its pre-sized squares and planks, patterns, and materials. Modular carpet tiles are four times more efficient as compared to broadloom carpet. Modular tiles are not only easy to fit, but also much easier to store and even easier to replace the same color & design after years of use. Carpet tiles are gaining popularity in commercial environments, such as restaurants, retail stores, and the hospitality sector as well as the residential segment. They are easy to maintain, install and offer unique designs for a comfortable environment. They allow quicker installation along with waste reduction. Acoustic features enable the usage of carpet tiles in areas where sound insulation is needed. This flooring material is gaining popularity due to its cost-effective nature, durability, and aesthetic design range, owing to the integration of new technologies.

Workplaces require special attention since busy workplace corridors need durable floors that can withstand heavy foot traffic and are easy to clean and maintain. The factors that need to be considered while choosing modular flooring for workplaces are aesthetics and functionality. Further, budget, traffic, design, and maintenance requirements play a significant role in installing the right flooring at the workplace. Suitable modular flooring for workplaces must be of commercial grade too.

For more Details Speak to Our Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=245251867

The global modular flooring market is estimated to be USD 54.6 billion in 2021 and is projected to reach USD 72.5 billion by 2026, at a CAGR of 5.8% from 2021 to 2026. The driving factors for the modular flooring market growth in investments in the construction industry, coupled with a rise in the number of renovation & remodeling activities. The rise in demand from emerging economies and the growth of the organized retail sector create growth opportunities for the market.

Mohawk Industries (US), Shaw Industries (US), Tarkett (France), Armstrong Flooring (US), Forbo (Switzerland), Gerflor (France), Interface (US), Beaulieu International (Belgium), TOLI Corporation (Japan) are the major players that undertook most of the development strategies.

These key players have focused on market consolidation by adopting organic and inorganic growth strategies such as mergers & acquisitions. These companies adopted acquisitions as the key growth strategy between 2019 and 2021.

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Mohawk Industries manufactures a wide range of flooring products, including carpets, rugs, ceramic tile, laminate, wood, luxury vinyl tile, and vinyl flooring. The Georgia-based company has grown from a US-focused carpeting manufacturer to a leading global player in the diversified flooring market. It operates through the following segments: Global Ceramic, Flooring North America (NA), and Flooring Rest of the World (ROW). The Global Ceramic segment comprises ceramic, porcelain, and natural stone tile products used for wall and floor applications. The Flooring NA segment includes floor covering product lines in a broad range of colors, textures, and patterns. The Flooring ROW segment consists of laminate, hardwood flooring, vinyl flooring products, roofing elements, insulation boards, medium-density fiberboard, and chipboards. Mohawk Industries markets its products under brands such as Aladdin, American Olean, Columbia Flooring, Daltile, Durkan, Horizon, IVC, KAI, Karastan, and Kerama. The products are sold through independent specialty retailers, home centers, distributors, builders, mass merchants, and E-commerce. The company caters to various end-markets such as residential new construction, residential replacement, and commercial. Mohawk Industries has grown through 45 acquisitions and continuous re-investment in the business. It has established leading market positions in North America, Europe, Russia, Brazil, Australia, and New Zealand, with sales in more than 170 countries worldwide. The company's manufacturing footprint extends to 18 countries, where production is geared to local market needs.

Shaw Industries Group, Inc. (Shaw) manufactures and distributes carpet and flooring products. The company is a wholly-owned subsidiary of Berkshire Hathaway, Inc. It manufactures over 3,800 styles of tufted carpet, wood, and resilient flooring for residential and commercial use under about 30 brand and trade names and private labels. The company also provides project management and installation services to its customers. It has a fully integrated operational process from the processing of the raw material to the finished product. Shaw sells its products through 47,000 retailers, distributors, and commercial users in multiple geographies such as the US, Mexico, and Canada. The company has 7 carpets, 9 hard surfaces, 1 sample full-service distribution facility, 3 sample satellite locations, and 30 redistribution centers, along with centralized management information systems. This enables the company to provide prompt and efficient delivery of its products to its retail customers and wholesale distributors.

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