Rugs or carpets are pieces of cloth elegantly prepared either by machines or are handmade which are available in various sizes, colors, and made up of a variety of materials including artificial silk and wool, which not only gives an aesthetic look to the interior but also provides other benefits like maintaining temperature and sound absorption. Along with these advantages, the rugs are also employed as wall decorations by some consumers who utilize the patters and designs of rugs for their interior decoration. Rugs are the first choice in the commercial sector as well for those business operators who want to elevate the overall look of their offices or restaurants and attract more customers.
COVID-19 Impact analysis
- The impact of COVID-19 on the rugs market has been marginal. Due to the closing of most of the offices and restaurants, more growth is observed in the residential use as compared to commercial use.
- As people began to spend most of their time at home, they shifted their attention toward upgrading and modifying their home which made rugs and carpets an ideal choice to be in the consumer’s list. Moreover, consumers got a plenty of time to invest in their hobbies and decorating their houses which made them consider the importance of rugs in this purpose.
Top Impacting Factors
- Increased urbanization and demand for affordable home decorating products is seen as the major driving force for the rugs market. As most of the superior quality rugs are available at lower rates, customers can easily invest in them without straining their pockets.
- Its ability to provide comforting effect along with sound absorption and temperature regulation has also made it a pioneer choice for working population.
- The increased usage of internet and online shopping has made it easier for the customers to look at the various options and styles in which the rugs can be used.
Market Trends
Hand woven rugs gain popularity
The residential use of rugs and carpet is anticipated to experience a continuous growth because more people are now investing in home renovation projects which include overall change of the flooring and styling. Most of the consumers are purchasing rugs to make sure that the excessive noise produced around their surrounding can be reduced by the absorption feature of rugs. They also help to protect the floor from any damage from the furniture and provides overall aesthetic look to the house.
Although machine woven rugs are more perfect in shape and quality, most of the buyers are transitioning toward hand woven rugs as these not only provide a personal touch to the product but also help in providing employment to the lower income people who can support their family by this business. The hand-woven rugs are available to the consumers on both offline and online platforms.
Key Benefits of the Report
- This study presents the analytical depiction of the RUGS MARKET industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the RUGS MARKET share.
- The current market is quantitatively analyzed to highlight the RUGS MARKET growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed RUGS MARKET analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the Report
- Who are the leading market players active in the RUGS market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
- What is "RUGS" Market prediction in the future?
- Which will be the niches at which players profiling with recent advancements should set a presence?
- What are the driving factors and opportunities in the market?
- What are the current trends and predicted trends?
- What are the challenges faced in the "RUGS MARKET"
Key Market Segments
- By Type
- By Fabric
- Polyamide
- Wool
- Polyester
- Artificial Silk
- By Distribution Channel
- Supermarket/Hypermarket
- Independent Retail Store
- Online Store
- By Region
- North America
- Europe
- France
- Germany
- Italy
- Spain
- UK
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Thailand
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Argentina
- Rest of LAMEA
Key Market Players
- Cavalier Carpets Ltd.
- Teppichwerke
- Kasthall HQ Kinna
- Burmatex Ltd.
- Ryalux Carpets Ltd.
- Vorwerk&Co.
- Penthouse Carpets Ltd
- Westex Carpets.
- Osta Carpets Ltd.