The Europe Carpets and Rugs Market was at US$ 21.73 Bn in 2021 and is growing to approx US$ 32.76 Bn by 2030, with a CAGR growth of 4.6% between 2022 and 2030.

SANDY, UTAH, UNITED STATES, February 27, 2023 /EINPresswire.com/ -- According to the study, The Europe Carpets and Rugs Market was estimated at USD 21.73 Billion in 2021 and is anticipated to reach around USD 32.76 Billion by 2030, growing at a CAGR of roughly 4.6% between 2022 and 2030.

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Europe Carpets and Rugs Market: Overview

A carpet is a type of textile floor covering that generally has an upper layer of pile linked to a backing. Traditionally, the pile was formed of wool, but during the twentieth century, synthetic fibers such as polypropylene, nylon, or polyester have been commonly utilized since they are less expensive than wool. The pile of the carpet is often made up of knotted tufts that are heat-treated to keep their structure.

A rug is a thick, heavy piece of cloth with a nap or pile that is used as a floor finish. Rugs are smaller in size than carpets and are intended to cover a limited area. The growing consumer preference for interior décor, along with rising spending power, has enhanced the Europe appeal of carpets and rugs.

Europe Carpets and Rugs Market: Growth Drivers

To suit client expectations, European carpet producers and dealers are offering novel products. Consumers are gravitating to non-geometrical designer patterns and eye-catching bright colors in carpets and rugs, which is expected to boost the Europe carpets and rugs industry in the future. The Europe carpet and rug market is expected to be impacted by market rising trends, thus manufacturers are aiming to create items in accordance with the trends. In the future years, the carpets and rugs market is expected to benefit from rising demand for environmentally friendly carpets, growing demand for modern area rugs, and greater use of carpet tiles. In recent years, innovations have concentrated on developing products that are more environmentally friendly, multifunctional, and durable, as well as easier to install and maintain. The innovation and development in carpets and rugs are propelling the market forward.

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Key Insights:

A) As per the analysis shared by our research analyst, the Europe Carpets and Rugs market is estimated to grow annually at a CAGR of around 4.6% over the forecast period (2022-2030).
B) In terms of revenue, the Europe Carpets and Rugs market size was valued at around USD 21.73 Billion in 2021 and is projected to reach USD 32.76 Billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) Based on type segmentation, the woven segment is estimated to hold the largest market share during the forecast period.
D) Based on material segmentation, the nylon segment is estimated to hold the largest market share during the forecast period.
E) Based on end-user, the residential segment is the leading revenue-generating category during the forecast period.
F) On the basis of geography/region, Germany was the leading revenue generator in 2021.

Regional Landscape

Throughout the projection period, the European region is likely to remain one of the most appealing regions, accounting for the bulk of market revenue. Germany stands out for its high level of disposable money, increased interest in home decorative items, and growing construction & renovation activities. All of these reasons contribute to a greater demand for carpets and rugs. Furthermore, market development is being driven by the rise of e-commerce platforms and greater investment in distribution channels. The introduction of new handmade knotted carpets in the market is expected to entice the consumer’s interest and increase the sales of the product.

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Key Players

Mohawk Industries, Inc.
Shaw Industries Group Inc.,
Inter IKEA Systems B.V.
Beaulieu International Group
Engineered Floors LLC
Taekett
Genie Carpet Manufacturers
Dixie Group, Inc.
Orientals Weavers
Tai Ping
Victoria PLC

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The Europe Carpets and Rugs Market is segmented as follows:

By Type

Tufted
Woven
Needle-Punched
Knotted
Others

By Material

Nylon
Polyester
Polypropylene
Others

By End-User

Residential
Non-Residential
Automotive & Transportation

By Geography

North America

The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe

Asia Pacific

China
India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific

Latin America

Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa

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