According to a research report “ Area Rugs Market” by Product (Machine-made area rugs, Handmade area rugs) Application (Residential, Commercial) Distribution Channel (Offline, Online) Geography (North America, APAC, Europe, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 3791.1 million, at a CAGR of 3.68% during the forecast period. In the global market, there is a significant surge in demand for area rugs as consumers prioritize enhancing their home interiors. Factors such as rising income levels, shifting lifestyles, increased media exposure, and cultural adoption fuel this trend. Furthermore, the increasing number of working women and their active roles in home decoration decisions contribute to the market growth. Unique designer rugs, including carpets and floor coverings, are key investments to elevate the aesthetic appeal of living spaces..
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By Product, the Machine-made area rugs segment is projected to dominate the market size in 2024
The power loom industry, a significant contributor to the area rug market, experiences consistent expansion. Driven by factors such as the expanding urban population, the rise of nuclear families, and the burgeoning housing sector's focus on interior design, this growth is expected to continue. Woven-on power looms, operated by both hand machines and computers, produce machine-made area rugs from various yarns, including wool and synthetic fibers like nylon, polyester, polypropylene, and olefin. Despite their shorter lifespan and lower resale value compared to handmade rugs, these mass-produced rugs offer affordability and expedited production times, making them a popular choice for businesses and consumers alike. The global market for machine-made area rugs is poised for continued growth throughout the forecast period.
By Application, Residential segment is expected to hold the largest market size for the year 2024
The area rug market in the residential sector is experiencing substantial growth, driven by urbanization and rising disposable income. With the global population increase leading to the construction of new buildings, the demand for area rugs is projected to expand. Additionally, the trend towards residential space renovation accounts for approximately half of area rug shipments. The interior decoration trend further fuels market growth, making area rugs a valuable investment for homeowners during the forecast period. Urbanization's impact on the residential sector and consumers' disposable income are key growth drivers for the area rug market.
North America is forecasted to hold the largest market size by region in 2024
The Area Rugs market represents a significant segment within the floor covering industry. These decorative rugs offer various benefits, including enhancing interior design, providing insulation, and protecting floors from wear and tear. Businesses specializing in area rugs cater to both residential and commercial sectors, utilizing diverse materials such as wool, silk, and synthetic fibers to meet diverse customer preferences and budgets. The market's growth is driven by increasing consumer awareness of the functional and aesthetic advantages of area rugs, as well as the expanding home improvement and interior design industries.
The Area Rugs Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Area Rugs market encompasses a diverse range of textile floor coverings, including those made from natural fibers such as Bamboo, Jute, Wool, and Cotton, as well as Recycled materials. These rugs come in Vibrant colors and are used extensively in Interior decorations. The product portfolio includes Carpet And Rugs in various types, such as Kilim rugs, Oriental rugs, Loop pile rugs, Cut pile rugs, Flat weave rugs, Shag rugs, and Needle point rugs. Furniture pieces like Tables, TV stands, Sofas, and Chairs often incorporate these rugs to enhance their Aesthetic look. Textures, Patterns, and Colors are essential considerations when selecting an area rug, making the market a rich and dynamic one. Textile floor coverings, particularly Area Rugs, offer versatility and functionality, making them an essential element in home design. Area rugs serve as a foundation for creating visually appealing spaces, adding warmth and comfort to any room.
Market Research Overview
In the dynamic world of textile floor coverings, area rugs continue to be a popular choice for both residential and commercial spaces. These intricately designed floor coverings come in various types, including Berber Carpet, Polyester, Loop, Knotted, Needle punched, Woven, Tufted, and a range of Textile floor coverings. The real estate sector, particularly new construction and renovation activities, sees a significant demand for area rugs. Design preferences play a crucial role in the selection process. Durability and stain resistance are essential factors for high-traffic areas. Digital printing techniques offer vibrant colors and unique looks for interior decorations. Natural fibers like Bamboo, Jute, Wool, and recycled materials add an aesthetic appeal to modern home renovations. Area rugs come in various forms such as Carpet tiles, Residential construction, and machine-made or hand-made rugs. New designs and textures, including Silk, Animal leathers, Synthetic fabrics, and Cotton fabrics, cater to diverse lifestyle and decorative product needs. From flat weave rugs like Kilim and Oriental rugs to loop pile rugs, cut pile rugs, and shag rugs, the market offers a wide range of choices. Area rugs not only serve as necessity products but also add functionality to spaces, such as tables, TV stands, sofas, and furniture.
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