“Global Carpet Floor Mats Market to reach a market value of 11.6 Billion by 2031 growing at a CAGR of 4.9%”
The Global Carpet Floor Mats Market size is expected to reach $11.6 billion by 2031, rising at a market growth of 4.9% CAGR during the forecast period.
Robust construction activities, high disposable incomes, and a strong consumer focus on home improvement and automotive accessories drive North America’s growth. The region's well-developed e-commerce infrastructure further supports the B2C market, while commercial demand remains high due to the emphasis on creating comfortable and aesthetically pleasing environments in businesses and public spaces. Consequently, the North American region would acquire nearly 30% of the total market share by 2031.
As people have more money to spend beyond their basic needs, they tend to invest in enhancing their living and working environments. This increased disposable income increases spending on non-essential items, such as home decor and automotive accessories. Hence, rising disposable income in developing economies significantly boosts the market.
Additionally, Floors are a substantial investment in residential and commercial spaces, and their upkeep is crucial to preserving their appearance and functionality. In addition to the practical benefits, there is a growing emphasis on maintaining clean and hygienic environments, particularly in public and commercial spaces. Thus, heightened awareness of these benefits has led to increased demand for these mats across various sectors, which in turn aids in the market's growth.
However, the market is characterized by high competition, with many players ranging from established brands to emerging manufacturers. Additionally, high competition pressures companies to invest heavily in marketing and promotional activities to differentiate their products from their competitors. Hence, the high level of competition in the market presents significant challenges for manufacturers and suppliers.
By distribution channel, the market is divided into B2B and B2C. The B2C segment garnered 38% revenue share in the market in 2023. The proliferation of e-commerce and online purchasing has been a substantial factor. Consumers are becoming increasingly enticed by the convenience and flexibility of purchasing things online, which has resulted in a large increase in the number of these mats that have been sold online.
On the basis of end use, the market is classified into commercial, transportation, and residential. The residential segment recorded 31% revenue share in the market in 2023. Homeowners are increasingly investing in their living spaces, seeking to create comfortable, stylish, and personalized environments.
Based on type, the market is segmented into woven carpet floor mat, needle felt carpet floor mat, knotted carpet floor mat, and tufted carpet floor mat. The knotted carpet floor mat segment procured 15% revenue share in the market in 2023. This type of carpet mat is traditionally associated with high-end, handcrafted products that can feature elaborate designs and textures.
Free Valuable Insights: Global Carpet Floor Mats Market size to reach USD 11.6 Billion by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment procured 38% revenue share in the market in 2023. The Asia Pacific region acquired a substantial revenue share, propelled by rapid urbanization, industrialization, and economic growth. Countries like China and India play a crucial role, with significant investments in construction and a booming automotive industry driving demand for these mats.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 8.0 Billion |
| Market size forecast in 2031 | USD 11.6 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 4.9% from 2024 to 2031 |
| Number of Pages | 220 |
| Number of Tables | 350 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Distribution Channel, End Use, Type, Region |
| Country scope |
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| Companies Included | Milliken & Company, Interface, Inc., Shaw Industries Group, Inc. (Berkshire Hathaway, Inc.), Mohawk Industries, Inc., Bentley Mills, Inc., Beaulieu International Group, Tarkett Group, Durable Corporation, Oriental Weavers and 3M Company |
By Distribution Channel
By End Use
By Type
By Geography
The Market size is projected to reach USD 11.6 billion by 2031.
Increased disposable income in developing economies are driving the Market in coming years, however, Intense competition in the market restraints the growth of the Market.
Milliken & Company, Interface, Inc., Shaw Industries Group, Inc. (Berkshire Hathaway, Inc.), Mohawk Industries, Inc., Bentley Mills, Inc., Beaulieu International Group, Tarkett Group, Durable Corporation, Oriental Weavers and 3M Company
The expected CAGR of this Market is 4.9% from 2024 to 2031.
The Commercial segment led the Market by End Use in 2023; thereby, achieving a market value of $5.7 billion by 2031.
The Asia Pacific region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $4.6 Billion by 2031.
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