Rugs Market (By Type: Tufted, Woven, Needle-punched, Knotted, Others; By Price: Below US$ 100, US$ 101 - US$ 300, US$ 301 - US$ 500, Above US$ 500; By Material: Wool, Silk, Polyester, Nylon, Others; By Application: Residential and Commercial; By Shape; By Distribution Channel) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2021-2030

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.

Market Trends

• Various brands have recognized the potential of rugs, along with other home textile products. This is influencing manufacturers to invest extensively in promoting and expanding their reach to an increasing number of users.
• Retailers such as IKEA, H&M Home, and Home Depot are pioneers in this field and are known for their huge stores with customer centric products. These retailers have their sourcing and design offices in Asian countries for faster development of products. Such innovative approaches can boost the market growth in the coming years.
• Manufacturers targeting their end users through unique collections from their company outlets also seem to generate demand for rugs from end users of the residential and commercial sector

Drivers, Opportunities, and Restraints

• Digital promotion of innovative products by rug manufacturers from emerging countries via online distribution channels through their own websites and e-Commerce channels such as Amazon and Walmart is augmenting demand for the product
• Domestic e-Commerce retailers such as Amazon, Walmart, Ikea, and Snapdeal have strengthened their footprints massively in the past five years and are expanding at around 19% annually. These e-Commerce platforms not only offer a common and easy to access market place, but have also introduced their private labels for rugs. These private labels offer economical tufted, woven, knotted, and shag style rugs, which has helped increase the domestic market worldwide.  
• New norms were introduced in order to reduce the harsh impact of production. These new regulations by governments are likely to affect the production of rugs by manufacturers. The factor is expected to have significant influence on the market as majority of exporters belong to developing countries.

Report Hghlights	Details
Market Size	US$ 35 Bn by 2030
Growth Rate	CAGR of 6% from 2021 to 2030
Base Year	2020
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.

Report Highlights

• Based on type, the tufted segment accounted for leading share of the global rugs market in 2020. 
• In terms of application, the US$ 101 to US$ 300 segment accounted for major share of the global rugs market in 2020.
• In terms of material, the wool segment is expected to remain popular in the global rugs market. This is due to increasing awareness and usage of natural fibers made of plant and animal based sources, which is leading to demand for rugs made of natural material. 
• In terms of application, the residential segment is expected to maintain its dominance. 
• On the basis of shape, rectangular shape segment holds more than 80 percent share in the global market. 
• On the basis of region, Asia Pacific is projected to be the fastest growing region in the global rugs market during the forecast period.

Key Players

• 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.

Market Segmentation

By Type

• Tufted
• Woven
• Needle-punched
• Knotted
• Others

By Price

• Below US$ 100
• US$ 101 - US$ 300
• US$ 301 - US$ 500
• Above US$ 500

By Material

• Wool
• Silk
• Polyester
• Nylon
• Others

By Application

• Residential
• Commercial

By Shape

• Rectangle
• Square
• Round
• Others

By Distribution Channel

• Online
  • e-Commerce Websites
  • Company-owned Websites
• Offline
  • Supermarkets & Hypermarkets
  • Specialty Stores

By Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa (MEA)
• South America

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.

Regional Analysis

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:

• History Year: 2017-2020
• Base Year: 2020
• Forecast Year 2021 to 2030

Competitive Landscape

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.

• Company Overview
• Company Market Share/Positioning Analysis
• Product Offerings
• Financial Performance
• Recent Initiatives
• Key Strategies Adopted by Players
• Vendor Landscape
• List of Suppliers
• List of Buyers

 

Research Methodology

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:

• To analyze and study the global market capacity, production, value, consumption, status (2017-2021) and forecast (2021-2030);
• Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.