The Carpets and Rugs Market Size was valued at USD 78.12 billion in 2021. The carpets and rugs market industry are projected to grow from USD 82.12 Billion in 2024 to USD 120Â billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.5% during the forecast period (2024 - 2030). The rising demand for new housing facilities associated with home decoration trends around the world is likely to drive the demand for carpets and rugs.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The demand for different styles of carpets and rugs is increasing, companies are increasing their supply that is specifically suitable for various floor types and in different styles like tile flooring, wooden parquet flooring, laminate flooring, area rugs, kitchen rugs, cheap rugs, runner rugs, Berber carpet, carpet flooring, stair runner, grey carpet, carpet squares, stair carpet, grass carpet, custom rugs, oriental rugs, carpet runner, Ikea carpet, carpet padding, carpet company, bedroom rug, wool carpet, shaggy rug, black carpet, carpets for living room, stair runner carpet, artificial grass carpet, white carpet, Christmas rugs, kitchen carpet, round carpet, green grass carpet, and floor runner.
For instance, in August 2020 Ikea Systems launched a Thai street-style collection, they are affordable and multifunctional those are inspired by recycling, reusing, and creative repurposing. The collection of a mix of Thai street style and home furnishing expertise which includes cushions, and rugs made from PET bottles.
Furthermore, the increasing demand for rugs and carpets in between people assigns to the increasing urbanization rate also the increasing standard of living. Also, the shift in consumer demands on the usage of eco-friendly floor carpets which are made up of materials such as bamboo, wool, and others drives the growth of the market.
The carpets and rugs market segmentation, based on product type, includes Woven, Tufted, Knotted, Needle-Punched, and others. The Tufted segment held the majority share in 2021 contributing to around ~30-35 % with respect to the Carpets and Rugs market revenue. This is primarily owing to the rising demand for carpets & rugs, which led to the rise in demand for tufted products in the overall market. Tufted rugs are manufactured with a hand-held tufting gun that can closely match the handmade oriental rugs. Furthermore, the key benefits are these rugs can be produced in any size and shape, it is free from seams, and they are durable that are built to long last. The tufted carpets and rugs are available in two types that are hand-tufted, and machine-tufted.
April 2022: The hand-tufted rug line by Gossamer and artist Alex Proba was introduced with the ideas of creative awareness and tactility. The rug contrasts Proba's colourful designs with Gossamer's textured colour palettes. These colourful shades of pink with red, shades of blue and mint green, dabs of rustic brown with white lines, lavender dots, and other designs are used in these multicoloured, custom-made carpets, which are naturally dyed and offered in four main colours. The textured canvases of these carpets include dramatic patterns, curving lines, and Proba's trademark forms.
The carpets and rugs market segmentation, based on material, includes nylon, polyester, polypropylene, cotton, wool, silk, jute, and others. Nylon dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2024-2030. The key players are also launching products and driving market growth. For instance, in September 2021, Mohawk Industries, Inc. launched a new carpet collection under the SmartStrand brand, which covers a blend of nylon, wool, polyester, and fiber, the new launch assists the company covers all the prices and end-user preferences and target new as well as potential consumers to increase the business sales, therefore, this factor can anticipate supporting segment growth over the forecast year market growth.
Figure 2: Carpets and Rugs Market, by Material, 2021 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Based on End Users, the carpets and rugs industry has been segmented into residential and commercial. Residential held the largest segment share in 2020, owing to the rapid increase of decorative and stylish carpets and rugs across the globe. It has been estimated that 50% of the residential is increasing demand for the aesthetic appeal of the room and sound and thermal insulation. Carpets and Rugs are available in different colors, styles, and textures, for a finishing touch to the decoration.
By Region, the study segments the market into North America, Europe, Asia-Pacific, and the Rest of the World. The North American carpets and rugs market accounted for USD 32.81 billion in 2021 and is expected to exhibit an 4.25% CAGR during the study period. The key players are working on launching new products with different styles, colors, textures, and so on. For instance, in January 2023, Mannington Commercial launched its new Dwellings Collection, a curated suite of broadloom carpet offerings that provide harmony and comfort to all types of living areas, including multi-family and senior living rooms. The gentle, neutral colours in this new collection seamlessly combine minimalist style with controlled patterning for a cosy effect. There are 10 broadloom designs available in the Dwellings Collection. There are four neutral hues for Adison, Alcove, Creekside, and Haven while there are six neutral colours for Dream, Frame, Harmony, Sonnet, Twist, and Wish. Styles like textured cut pile, level cut loop, and textured level loop add to the design flexibility.
Further, the major countries studied are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: CARPETS AND RUGS MARKET SHARE BY REGION 2021 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Asia-Pacific carpets and rugs market accounts for the second-largest market share due to the increasing construction activities and growing demand for different types of carpets and rugs in the residential and commercial sectors in the region. For instance, in August 2020, IKEA launched the ‘Made in India’ collection using rice straw that is FORANDRING. It is a collection of eco-friendly products that includes rugs, lamp shades, and other decorative items. The company’s main focus is to encourage eco-friendly agriculture and lessen pollution.
Major market players are spending a lot of money on R&D to increase their product lines, which will help the cervical fusion market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the carpets & rugs industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
One of the primary business strategies adopted by manufacturers in the carpets & rugs industry to benefit clients and expand the carpets & rugs market sector is to manufacture locally to reduce operating costs. In recent years, carpets & rugs have provided products with some of the most significant benefits.
Carpets and Rugs Industry Developments
January 2022: The partnership between Tarkett and Reader's Wholesale Distributors is announced. For both commercial and residential clients in the areas of southern Texas, southern Louisiana, and central and south Mississippi, Reader's will represent the company's robust product range. By extending its distribution network, Tarkett will be better able to meet the demands of both residential and business clients in these important regions. With Tarkett and Reader's joining forces, we can continue to drive long-term, sustainable development via a strong and broad distribution network while also delivering top-notch customer service across all markets.
June 2022: Today, Mannington Commercial revealed that all new and updated carpet, luxury vinyl tile (LVT), rubber, and resilient sheet products being introduced in 2022 would be 105 percent carbon offset. Customers will thus be able to shop with confidence knowing that the things they choose will be carbon-negative, or at the very least carbon-neutral. The items won't contribute to the release of carbon dioxide into the environment, a major factor in greenhouse gas emissions, from the extraction of raw materials through manufacture. In order for the firm to accelerate the decarbonization of its operations and supply chain, the effort is a crucial step. Additionally, it tackles the three most pressing environmental issues confronting the floor covering industry: greenhouse gas emissions, sustainable energy, and waste diversion.
| Report Attribute/Metric | Details |
| Market Size 2021 | USD 78.12 billion |
| Market Size 2022 | USD 82.12 billion |
| Market Size 2030 | USD 120 billion |
| Compound Annual Growth Rate (CAGR) | 5.5 % (2024-2030) |
| Base Year | 2021 |
| Forecast Period | 2024-2030 |
| Historical Data | 2018 & 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Type, Material, End-Users, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S, Canada, Mexico, Germany, France, the UK, Italy, Spain, the Rest of Europe, China, Japan, India, Australia & New Zealand, the Rest of Asia Pacific, South America, the Middle East, and Africa |
| Key Companies Profiled | Mohawk Industries, Inc. (US), Shaw Industries Group Inc. (US), Genie Carpet Manufacturers (India), Beaulieu International Group (Belgium), Lowe's (US), Taekett (France), Interface, Inc. (US), Dixie Group, Inc. (US), Tai Ping (China), and Victoria PLC (UK). |
| Key Market Opportunities | Implementation of Strategies and Growth in the importance of Organized Retailing |
| Key Market Dynamics | Increased Renovation and Remodeling Activities Surge in Disposable Income Increasing at a High Pace in Residential Areas as Well |
Frequently Asked Questions (FAQ) :
The Carpet and Rugs Market size has been estimated at USD $82.12 billion in 2024 and USD $120 billion in 2030.
North American market size has been estimated at USD $32.81 billion.
The growth rate for the carpets and rugs market has recorded 5.5% CARG.
North America is dominating the market.
Mohawk Industries, Inc. (US), Shaw Industries Group Inc., (US), Genie Carpet Manufacturers (India), Beaulieu International Group (Belgium), and Lowe's (US) are some of the key players in the carpets and rugs market.
The tufted product type is leading the market.
In material segment Nylon is leading the market share in the carpets and rugs market.
Senior Research Analyst I have a bachelor's degree in mechanical engineering and an mba. i have more than two years of expertise in the retail, food, and beverage, chemical, and material industries, and hence have developed a sound cross-domain expertise. a firm believer in lifelong learning and sharing of knowledge. having a proclivity for hatching ideas and trying to absorb as much information as possible in a short amount of time. introducing corporates to the data and insight, which enables them to move from probability to possibility, has been my key areas of interest.Â
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