Market overview:

The Global Carpet Market was valued at 51.9 billion USD in 2018 and is estimated to record a valuation of 73.9 billion USD by 2026 at a CAGR of 4.6% during the foreseen period.

Market Drivers and Restrains:

Optimum pricing, timely delivery and high quality are some of the driving factors of the global Carpet Market. Also, technology intervention backed by sustainability, adoption of innovative technologies that resulted in better inventory management, real time monitoring, efficient manufacturing cycles and supply chain optimization are some of the factors that helps the growth of the worldwide carpet market. Introduction of antimicrobial, anti-allergic technology, and LED-embedded carpets are some other growth factors of carpet business.

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Report is segmented as:

The Carpet Market is segmented based on the material, end-user, sales channel and price point. By material, the Carpet Market is segmented into nylon, olefin, polyester and other types of materials. By end user, the Carpet Market is segmented into two types, namely residential and commercial. By sales channel, the market is divided into hypermarket and supermarket, specialty stores, and online sales. By price point, the market is segmented into two types, namely economy and luxury.

Geographical Segmentation:

The global Carpet Market was dominated by LAMEA region owing to the increasing adoption of technologies. LAMEA region is supposed to hold the dominance of the market during the foreseen period. Asia Pacific region holds the second largest share of the market owing to the factors such as high quality and timely delivery.

Impact of COVID-19 on Carpet Market

The coronavirus pandemic has affected the global Carpet Market by forcing many companies to temporarily close their manufacturing and production operations that in turn led to a huge impact on their finances. As per the analysis, the Carpet Market is foreseen to record a hike in the market revenue because of the rising adoption of new technologies in the carpet industry.

Key market players:

Major market players of Carpet Market includes Shaw Industries Group, Inc., Brumark, Dorsett industries, Armstrong Flooring, Inc., Balta Group, Beaulieu International Group N.V., Mannington Mills, Inc., Mohawk Industries, Inc., Tarkett S.A., and The Dixie Group

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Scope of the report:

The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.

The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.

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