Carpet Market to Hit USD 73.9 Billion by 2026, Driven by Robust 4.6% CAGR During 2019-2026

The residential end user segments accounted for about 71% share of the carpet market in 2018, is poised to grow at significant CAGR during the forecast period.

5933 NE WIN SIVERS DRIVE, PORTLAND, OR, UNITED STATES, June 22, 2023/EINPresswire.com/ — According to a new report published by Allied Market Research, titled, ” Global Carpet Market by End User and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2019-2026,”. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends. The global carpet market size was $51.9 billion in 2018, and is expected to reach $73.9 billion by 2026, registering a CAGR of 4.6% from 2019 to 2026.

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Durability, softness, stain and pet resistance attributes have become basic prerequisite for carpets. Adoption of new technologies and innovations have resulted in significant improvement in carpet performance while providing elegant patterns and color options to help keeping carpet industry on the forefront of design. Innovations in fabrics such as introduction of nylon featuring cationic technology which reduces the number of dye sites in the fiber and aids in stain resistibility has significantly increased the overall demand of carpets.

In addition, 100% solution-dyed PET fiber aids in reduction of shedding and stands up to foot traffic over time. Furthermore, invention of 6 nylon fiber material have resulted in strength, resiliency, colorfastness, abrasion resistance, cleanability soil resistance, and dyeing flexibility of carpets. Collaboration with Magic Fresh technology which aids in neutralizing common household odors has provided a competitive edge for carpet manufactures. As a result advancement in carpet fibers is expected to propel the overall carpet market growth.

Smart carpets are poised to gain wide traction in the upcoming years. Smart carpets are intelligent floor coverings which communicates with computers and other connected devices with the help of sensors technology. Smart fabrics are now being used in carpets that can detect the temperature, motion, vibration and pressure signs. These smart carpets have a network of optical fibers, which aids in mapping the walking pattern of an individual. The carpets are equipped to predict a fall or a sudden incident from the patterns of walking. Furthermore, these smart carpets can warn of intruders by observing unusual patterns and can also detect environmental threats, like chemical spills or fires.

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The global carpet market is segmented into, material, end user, sales channel, price point and region. Based on material, the global market is studied across nylon, olefin, polyester and others. Depending on end user, the market is bifurcated residential and commercial. Based on sales channel, the global market is studied across hypermarket & supermarket, specialty store and online sales channel. Depending on price point the global market is classified into economy and luxury.

Based on regions, North America garnered the major share in 2019, holding more than two-fifths of the total market. At the same time, LAMEA would manifest the fastest CAGR of 6.7% from 2019 to 2026. The other regions covered in the report include Europe and Asia-Pacific.

Some of the key players operating in the carpet market includes, Armstrong Flooring, Inc., Balta Group, Beaulieu International Group N.V., Shaw Industries Group, Inc., Brumar, Dorsett industries, Mannington Mills, Inc., Mohawk Industries, Inc., Tarkett S.A., and The Dixie Group among others.

Key Benefits for Carpet Market:

○ The carpet report provides an extensive analysis of the current and emerging carpet market trends.
○ The report provides detailed qualitative and quantitative analysis of the current trends and future estimations that help evaluate the prevailing carpet market opportunity.
○ Carpet market forecast is offered along with information related to key drivers, restraints, and opportunities.
○ The carpet market analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.
○ The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth.

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