Carpet Market
Carpet Market was at $ 61.9 billion in 2021 and is determined to reach $ 73.9 billion by 2026, progressing at a CAGR of 4.6% from 2021 to 2026.
Carpet is most commonly known as a thick, woven floor covering. Carpets are made from polyester fibbers, or wool, or nylon most often, these soft materials are loops or strings that form the carpet’s “pile,” and are attached to a solid backing. A carpet can be very densely woven and flat, or it can be tufted and thick. Optimum pricing, timely delivery and high quality has driven the global market, these are the main factors that have considerably increased the demand for the Carpet, thereby driving the growth of the Carpet market in the upcoming years.
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Market Drivers and Restrains:
The main factors that have considerably increased the demand for the Carpet in the market is mainly due to the adoption of innovative technologies has resulted in better inventory management, real time monitoring, efficient manufacturing cycles, and supply chain optimization, technology intervention backed by sustainability will be the major factor for the growth opportunities in the highly competitive carpet market, rising construction, rapid growth in base of the middle-class population, demand for well-equipped furniture houses, lifestyle changes, rising construction industry is another major factor driving the growth of carpets and increased spending on home furnishings and interiors, these are the main factors that have considerably increased the demand for the Carpet, thereby driving the growth of the Carpet market in the upcoming years.
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Report is segmented as:
Carpet Market is segmented on the basis of by material, on the basis of by end-user, on the basis of by sales channels, on the basis of by price point:
* Carpet Market is segmented on the basis of by material into Nylon, Olefin, Polyester and Others
* Carpet Market is segmented on the basis of by end-user into Residential and Commercial
* Carpet Market is segmented on the basis of by price point into Economy and Luxury
* Carpet Market is segmented on the basis of by sales channels into Hypermarket & Supermarket, Specialty Store and Online sales Channel
Geographical Segmentation:
Carpet Market is segmented into
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
North America has the dominant share in the Carpet Market, followed by Europe, Latin America and Middle East & Africa will register a slower increase in the Carpet Market
Impact of COVID-19 on Carpet Market:
The COVID-19 pandemic has slightly impacted the supply-chain of Carpet, Covid -19 pandemic has affected almost every industry, and the long-term effects are projected to impact growth of Carpet during the forecast period. Covid-19 pandemic has impacted huge on the sales revenue of Carpet market, Due to the government restrictions like lockdown in many countries has stopped the production of products by the manufacturing companies. Companies have started opening their manufacturing units after taking all the necessary preventive measures. In recent days relaxation in restrictions by the government and people are getting vaccinated to stop the spread of corona virus.
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