Flooring Market to grow by USD 84.98 billion between 2024-2028
According to a research report “ Flooring Market” by End-user (Residential, Non-residential) Type (Non-resilient flooring, Resilient flooring, Soft cover flooring) Geography (APAC, North America, Europe, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 84.98 billion at a CAGR of 5.9% during the forecast period. The global flooring market experiences significant expansion, driven primarily by the construction industry's robust growth. Since 2009, this sector has witnessed exponential expansion, with Europe and North America leading the charge. In Europe, the residential sector's continuous investment fuels the construction industry's growth, with the Netherlands, Denmark, and Germany being key contributors. Similarly, North America's construction industry thrives, with residential construction as the fastest-growing segment..
Browse market data tables, figures, and in-depth TOC on “Flooring Market” by End-user (Residential, Non-residential) Type (Non-resilient flooring, Resilient flooring, Soft cover flooring) Geography (APAC, North America, Europe, Middle East and Africa, South America) Global Forecast to 2028.
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By End-user, the Residential segment is projected to dominate the market size in 2024.
In the Flooring Market, non-resilient flooring solutions continue to garner significant demand due to their durability and functional advantages. These flooring options, including hardwood, laminate, ceramic, porcelain, stone, and concrete, lack inherent elasticity but offer superior temperature acclimatization for wood and water resistance for ceramics. Despite higher costs, their aesthetic appeal and specific functionalities make them preferred choices for residential and commercial projects.
By Type, Non-resilient flooring segment is expected to hold the largest market size for the year 2024.
The global population surge, with an increase from 7.7 billion in 2019 to 8 billion in November 2022, is fueling a significant uptick in residential construction activities. Urbanization and population density changes, primarily driven by rural-to-urban migration, are particularly impacting APAC and MEA regions, where high population densities are anticipated to boost investments in multifamily housing projects, thereby presenting lucrative opportunities for the flooring market.
APAC is forecasted to hold the largest market size by region in 2024.
The APAC region, comprising China, India, Japan, and Thailand, is a significant and influential market segment in the global flooring industry. With an anticipated USD15 trillion expansion in the global construction sector by 2030, driven primarily by China and India, the demand for flooring solutions is surging. India is projected to contribute 35%-40% to the global construction industry's growth. Japan and Thailand are also key players, with construction spending estimated at USD58 billion in Thailand for 2022. This dynamic region is shaping the flooring market landscape with its robust industrialization and infrastructure development.
The Flooring Market t 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 flooring market encompasses a wide range of products and solutions, including Eco-friendly and Sustainable options such as Bamboo Flooring and Engineered Wood. Smart Flooring Technology, like Waterproof and LVT (Luxury Vinyl Tiles), is increasingly popular due to its durability and design versatility. Flooring Demand continues to grow in both Commercial and Residential sectors, with Flooring Costs being a significant consideration for consumers. Flooring Brands offer various Flooring Materials, such as Porcelain Tiles, Ceramic Tiles, Carpet Flooring, Vinyl Flooring, Laminate Flooring, and Hardwood Flooring, ensuring there is a solution for every budget and preference. Flooring Installation is a crucial aspect of the market, with advancements in technology streamlining the process. Overall, the Flooring Market is dynamic and diverse, catering to the unique needs of various industries and homeowners.
Market Research Overview
The Flooring Market encompasses a wide range of products and services, catering to various sectors and applications. Key offerings include Traffic-resistant and Heavy-duty Flooring for commercial spaces, Pet-friendly and Anti-bacterial Flooring for residential areas, and Acoustic Flooring for noise reduction. Flooring Accessories, Floor Cleaning, and Floor Maintenance solutions are essential components of the market. Flooring Performance and Durability are crucial factors, with options such as Non-slip Flooring, Floor Adhesives, and Underlayment ensuring safety and longevity. Flooring Solutions also include Floor Buffing, Floor Polishing, and Floor Resurfacing for restoring the aesthetic appeal of floors. Specialty Flooring, including Outdoor Flooring, Indoor Flooring, and Eco-friendly Flooring, offers unique solutions for diverse environments. Flooring Trends lean towards Sustainable Flooring, Recycled Flooring, and Smart Flooring, incorporating advanced Flooring Technology and Floor Resilience. Flooring Brands, Floor Coverings, and Flooring Materials cater to various preferences and budgets, with options like LVT (Luxury Vinyl Tile), Bamboo Flooring, Engineered Wood, Porcelain Tiles, Ceramic Tiles, Carpet Flooring, Vinyl Flooring, Laminate Flooring, and Hardwood Flooring. The Flooring Market is vast and dynamic, with Flooring Sales, Flooring Contractors, and Flooring Retailers driving growth in the Commercial Flooring and Residential Flooring sectors. Flooring Installation, Floor Designs, and Floor Patterns are essential aspects of Flooring Solutions, ensuring customer satisfaction and market competitiveness.
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