Carpets & Rugs Market expected to be worth 112.69 Billion USD by 2022, at a CAGR of 4.2%, from 2017–2022
The Global Carpets & Rugs Market was valued at USD 88.24 Billion in 2016, and is projected to reach USD 112.69 Billion by 2022, at a CAGR of 4.2%. The base year considered for the study is 2016, with the market size projected from 2017 to 2022. The primary objective of the study is to define, segment, and project the carpets & rugs market size on the basis of type, material, end-use sector, and region.
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The residential segment is estimated to be the fastest-growing as well as the largest application in the carpets & rugs market. This trend is projected to continue during the forecast period, the demand from the residential sector is supported by increased investment in new housing constructions and home renovation projects, such as the replacement of worn or out-of-style carpets and rugs.
On the basis of key regions, the Carpets & Rugs Market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. The North American market accounted for the largest share among all the regions in 2016, in terms of value. However, the growth in the region is projected to trail behind the global average.
The global carpets & rugs market is dominated by players such as Mohawk Industries, Inc. (U.S.), Shaw Industries Group (U.S.), Lowe’s Companies, Inc. (U.S.), Taekett S.A. (France), Home Depot, Inc. (U.S.), Interface, Inc. (U.S.), Dixie Group, Inc. (U.S.), Orientals Weavers Company for Carpets (Egypt), Tai Ping Carpets International Limited (China), and Victoria PLC (U.K.).
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