Flooring Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 – 2024

WISE GUY RESEARCH CONSULTANTS PVT LTD

WISE GUY RESEARCH CONSULTANTS PVT LTD

WiseGuyRerports.com Presents “Flooring Market Analysis – Global & Regional Industry Forecast (2019 – 2024)” New Document to its Studies Database

PUNE, INDIA, September 16, 2019 /EINPresswire.com/ —
The report includes detailed analysis of flooring market 2019-2024. The flooring market reached USD 339.3 Billion in 2018 and now it is estimated to grow high to USD 542.5 Billion by 2024, at a compound annual growth rate of 5.7%.

The market is ready to witness steady growth during the forecasted time span, due to the rise in renovation & remodelling activities resulting from rapid industrialization and urbanization. There is a rapid increase in investments in the construction industry along with rising of population and growing focus toward interior decoration. These are also some of the key factors driving the growth of the flooring market.

The drastic development in the infrastructure sector as a result of the rising need for IT parks, housing projects, and other such big projects attribute to the growth of this market. Government regulations restrict the use of hazardous floor covering materials and mandate manufacturers to comply with the Leadership in Energy and Environmental Design (LEED) certification for Volatile Organic Compound (VOC) emissions.

The constant innovation rising, in terms of floor covering solutions, thereby augmenting the market growth. Also, changing trends in construction solutions and floor designs have been critical factors in industrial development over the past few years. 

The key players contributing to the flooring market include

Mohawk Industries (US)
Shaw Industries (US)
Tarkett (France)
Armstrong Flooring (US)
Forbo (Switzerland)
Gerflor (France)
Interface (US)
Beaulieu International (Belgium)
TOLI Corporation (Japan)
Milliken & Company (US).

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Market Segmentation:-

 The flooring market is segmented on the basis of

Product

Luxury Vinyl Tiles
Vinyl Sheet & Floor Tile
Linoleum
Cork
Rubber

Application

Residential
Non-Residential

Regional Outlook

North America
The U.S.
Canada
Mexico
Europe
UK
Germany
Spain
Italy
France
Russia
Asia Pacific
China
Japan
India
South Korea
Singapore
Australia
Central & South America (CSA)
Brazil
Argentina
Middle East & Africa (MEA)
Saudi Arabia
United Arab Emirate

Regional Analysis:-

The Asia Pacific is considered to be the fastest-growing market for flooring during the forecast period. The growth in this region is because of the rising construction industry, supportive government policies & plans, and rapid urbanization.  China is predicted to grow at the highest compound annual growth rate in the Asia Pacific flooring market during the forecasted time span. The construction industry in developing countries including India and Thailand is growing due to regulatory support for infrastructural development is anticipated to be the key factor triggering the product demand. Moreover, the presence of a large consumer base, cheap labour, and a high level of resources is expected to drive the construction industry in the region, which is expected to support market expansion. The Middle Eastern & African market is expected to grow at the second-highest compound annual growth rate between 2018 and 2027.

North America and Europe are expected to rise in the market. These regions are contributing significantly in the market growth owing to developed construction industries and rapid infrastructural and industrial development along with supporting macro-economic factors.

Complete Report Details @ https://www.wiseguyreports.com/reports/4368448-flooring-market-analysis-global-regional-industry-forecast-2019-2024        

  

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Norah Trent
WiseGuy Research Consultants Pvt. Ltd.
646 845 9349 / +44 208 133 9349
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Source: EIN Presswire