Changing lifestyles of consumers along with growing demand for insulation is expected to drive flooring market growth
Flooring market size is forecast to exceed USD 400 billion by 2022, at a growing CAGR of 6.8% from 2015 to 2022, according to a new study base report launched by Global Market Insights Inc. Factors like rapid development in infrastructure, changing lifestyles of consumers, and increasing demand for insulation are anticipated to propel demand growth during the projected time frame. Investment in infrastructure and capital projects is expected to witness a substantial growth in next few years. Furthermore, durable and innovative flooring is expected to fuel the market growth by 2022.
View a summary of the “Flooring Market Size, Industry Analysis Report” @ https://www.gminsights.com/industry-analysis/flooring-market-size
The report features:
- Overview of the industry, including definitions and classification
- A comprehensive assessment of the market
- Facts, thoughtful insights, industry validated and statistically-supported market data
- Market segmentation on the basis of product, application, geography and competitive market share
- Market forecasts and estimates for the predicted time frame
- In-depth analysis with market trends, key participants, company profiles, business strategies
- Identifies aspects such as drivers, impediments, opportunities and challenges that will impact the market
Flooring forms vital aspect of any residential and commercial structure. Demand for durable, low maintenance, affordable yet visually appealing products has led to innovation in the industry for products that will provide comfort and are value for money.
Soft coverings product segment is likely to hit USD 150 billion at a growing CAGR of 6% during the expected time frame owing to multiple benefits offered including noise-reducing effect, dust-binding characteristics, superior insulation, pleasing aesthetics, etc. Resilient flooring market is expected to be the fastest growing product segment from 2015-2022, at a growing CAGR of 7.5% by 2022.
Residential sector is forecast to continue its dominance in application segments over the predicted period attributed to replacement demand in this sector. Furthermore, commercial segment is expected to surpass USD 170 billion by 2022 over the expected period.
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The report covers analysis on a regional scale. Asia pacific market size is expected to be the top region and hit 180 billion by 2022. The Chinese commercial and residential construction sector is expected to witness the growth. North America market is expected to be worth USD 69 billion in next few years.
Mohawk Industries, Shaw Industries, Interface and Beaulieu of America are the key market participants in the industry profiled in the report. Congoleum, Armstrong World Industries, Interface Inc, Polyfor Ltd, Mannington Mills Inc, and Pergo are some other names in the industry.
Author Name : Dhananjay Punekar