The rugs market size is expected to hit around US$ 35 Bn by 2030 from US$ 19.5 Bn in 2020, anticipated to grow at a CAGR of 6% from 2021 to 2030.
Rugs are a textile floor covering typically consisting of an upper layer of pile attached to a backing. It is available in the market in different shapes and colors.
Key Challenges: The global usage of rugs is expected to see continuous growth; however, this creates a significant challenge to the environment. Strict government regulations in developed countries related to environment-friendly production processes is expected to be a challenge for small scale manufacturers.
Drivers, Opportunities, and Restraints
|Market Size||US$ 35 Bn by 2030|
|Growth Rate||CAGR of 6% from 2021 to 2030|
|Companies Mentioned||Mohawk Industries, Inc., Tai Ping Carpets International Ltd., Shaw Industries Group, Inc., Victoria PLC, The Dixie Group, Inc., Yak Carpet Private Limited, Tarkett S.A., Milliken & Company, Balta Industries NV, Devgiri Exports LLC.|
Time-honored Techniques Improving Lead Time for Manufacturing Hand-woven Rugs
Manufacturers in the rugs market are generating incremental opportunities by experimenting with different materials such as cashmere, mohair, silk, leather, etc. For instance, SHIIR Rugs— a provider of artisanal rugs designed by leading interior designers, is increasing efforts to travel countries in order to explore ancient-rug making techniques using wool, silk, and leather materials. Manufacturers are collaborating with true cottage industries to ethically and responsibly manufacture rugs with a shared motive for creative exploration. Time-honored techniques are improving the lead time by onboarding laborers from developing economies of Asia Pacific.
Moreover, enhanced durability and clean-ability of rugs are becoming key focus points for manufacturers during their decision-making processes. Hence, manufacturers are extending personalized services in the rugs market to help users with the best material selection according to the foot traffic. On the other hand, customization is playing a pivotal role to meet specific budget parameters of end users.
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This report focuses on rugs market includes crucial information on market share, market size, and growth rate for the forecast period 2021 to 2030 at the global level, regional level and company level. From a global perspective, this report represents overall rugs market size by analyzing historical data and future prospect. The study highlights deep analysis on the major drivers of the market, restraints, and challenges to help the business owners, suppliers, and marketing personnel in planning effective strategies for the forecast period. This will help the business and manufacturers to lead the market and gain prominent position in future. The report also presents vital information through graphical representation on factors like table, charts, and statistics. The study includes drivers and restraints of the global rugs market.
The research not only conducts forecasts in terms of value, but also evaluates the market on the basis of essential parameters, such as Year-on-Year (Y-o-Y) growth. This helps providers to recognize the future opportunities as well predictability of the market.
In order to understand and assess opportunities in this market, the report is categorically divided into five key sections on the basis of segments. The report analyzes the global market in terms of value (US$ dollers) and volume (Million Units).
The research report includes specific segments by region (country), by company, by all segments. This study provides information about the growth and revenue during the historic and forecasted period of 2017 to 2030. Every segment is further sub-segmented into several sub-segmented that are deeply analyzed by experts to offer valuable information to the buyers and market players. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Major Key Points Covered in Report:
Executive Summary: It includes key trends of the rugs market related to products, applications, and other crucial factors. It also provides analysis of the competitive landscape and CAGR and market size of the rugs market based on production and revenue.
Production and Consumption by Region: It covers all regional markets to which the research study relates. Prices and key players in addition to production and consumption in each regional market are discussed.
Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the Rugs market.
Market Segments: This part of the report discusses about product, application and other segments of the rugs market based on market share, CAGR, market size, and various other factors.
Research Methodology: This section discusses about the research methodology and approach used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.
The research report includes a detailed study of regions of North America, Europe, China, Japan and Rest of the World. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2017 to 2030. These analyses will help the reader to understand the potential worth of investment in a particular region.
The report provides in-depth segment analysis of the global rugs market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the rugs market.
The report includes country-wise and region-wise market size for the period 2017-2030. It also includes market size and forecast by segments in terms of production capacity, price and revenue for the period 2017-2030.
In this study, the years considered to estimate the market size of rugs are as follows:
This section of the report identifies various key manufacturers of the market. It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market. The comprehensive report provides a significant microscopic look at the market. The reader can identify the footprints of the manufacturers by knowing about the global revenue of manufacturers, the global price of manufacturers, and sales by manufacturers during the forecast period of 2017 to 2019.
The analysts have provided a comprehensive analysis of the competitive landscape of the global rugs market with the company market structure and market share analysis of the top players. The innovative trends and developments, mergers and acquisitions, product portfolio, and new product innovation expected to provide a dashboard view of the market, ultimately providing the readers accurate measure of the current market developments, business strategies, and key financials.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users) and other segments.
The research methodology adopted by analysts for compiling the global rugs market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global market.
During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global rugs market.
The study objectives of this report are:
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