Carpets & Rugs Market Size, Share & Growth Report 2032

Carpets and Rugs Market: Industry Perspective

The global carpets and rugs market size was worth around USD 50.21 billion in 2023 and is predicted to grow to around USD 118.11 billion by 2032 with a compound annual growth rate (CAGR) of roughly 9.97% between 2024 and 2032.

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The report offers a valuation and analysis of the Carpets & Rugs Market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, limitations, sales estimates, avenues, current & emerging trends, and industry-validated market data. The report offers historical data from 2018 to 2022 along with a forecast from 204 to 2032 based on value (USD Billion).

Carpets & rugs are mainly utilized for covering floors for the purpose of decoration. These products are produced through the use of many of the raw materials such as nylon, polypropylene, polyester, jute, and cotton. Carpets & rugs are available in myriad designs and colors due to the changing lifestyles of the customers.   

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Market Growth Drivers

An increase in renovation activities along with swift urbanization will steer the market trends. Rising interest among end-users toward interior decoration activities will proliferate the market size in the years ahead. Apparently, the surge in the number of construction activities in developing countries will embellish the expansion of the carpets and rugs industry over the assessment period. Apart from this, the rise in the significance of organized retail activities across the globe is likely to offer new growth opportunities for the industry over the forecast timespan. Nonetheless, high raw material costs will put brakes on the industry expansion over the forecast timeframe.   

Moreover, artistic and functional features of products will open new vistas of growth for the carpets and rugs industry over the forecast timeframe. Thriving transport activities and a surge in residential construction as well as commercial construction projects will pave the way for the expansion of the carpets and rugs industry over the projected timeframe.

Carpets and Rugs Market: Report Scope

North America To Continue Market Dominance Over Forecast Timeframe

The carpets & rugs market in North America is anticipated to register noteworthy growth with manufacturers focusing on producing low-cost carpets & rugs. A prominent surge in construction activities taking place across the U.S. is anticipated to bolster the expansion of the carpets & rugs industry in North America over the forecast timeframe. Apparently, huge customer preference in interior designing is one of the major aspects driving the market size in the region. Apparently, surging renovation activities in the real estate industry across the U.S. will produce high product penetration across the region in the foreseeable future.

Carpets and Rugs Market: Competitive Analysis

The global carpets and rugs market is dominated by players like:

• Victoria PLC
• Mohawk Industries Incorporation
• Tai Ping Carpets International Limited
• Dixie Group Incorporation

The global carpets & rugs market is segmented as follows:

By Material

• Wool
• Natural fiber
• Cotton
• Synthetic
  • Nylon
  • Polyester
  • Polypropylene

By Product

• Knotted
• Tufted
• Hand-loomed
• Machine-loomed

By Application

• Office
• Hotel
• Automotive
• Residential

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa