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Area Rugs Market to Reach $ 5.12 bn by 2024, Balta Group NV, Berkshire Hathaway Inc., and The Natural Carpet Co., Emerge as Key Contributors | Technavio

·6-min read

Technavio has been monitoring the area rugs market and it is poised to grow by USD 5.12 bn during 2020-2024, progressing at a CAGR of almost 5% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201021005655/en/

Technavio has announced its latest market research report titled Global Area Rugs Market 2020-2024 (Graphic: Business Wire)

Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download a Free Sample Report on COVID-19

Frequently Asked Questions:

  • What are the major trends in the market?
    Growing demand for high-end luxury area rugs is a major trend driving the growth of the market.

  • At what rate is the market projected to grow?
    The year-over-year growth for 2020 is estimated at 4.55% and the incremental growth of the market is anticipated to be $ 5.12 bn.

  • Who are the top players in the market?
    Balta Group NV, Berkshire Hathaway Inc., Capel Inc., Harounian Rugs International, Kalaty Rug Corp., Milliken & Co., Mohawk Industries Inc., Oriental Weavers Group, The Dixie Group Inc., and The Natural Carpet Co., are some of the major market participants.

  • What is the key market driver?
    The growing popularity of omnichannel retailing is one of the major factors driving the market.

  • How big is the APAC market?
    The APAC region will contribute 33% of the market share.

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Balta Group NV, Berkshire Hathaway Inc., Capel Inc., Harounian Rugs International, Kalaty Rug Corp., Milliken & Co., Mohawk Industries Inc., Oriental Weavers Group, The Dixie Group Inc., and The Natural Carpet Co. are some of the major market participants. The growing popularity of omnichannel retailing will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

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View market snapshot before purchasing

Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Area Rugs Market 2020-2024: Segmentation

Area Rugs Market is segmented as below:

  • Application

    • Residential

    • Commercial

  • Product

    • Machine-made Area Rugs

    • Handmade Area Rugs

  • Distribution channel

    • Offline

    • Online

  • Geographic Landscape

    • North America

    • APAC

    • Europe

    • South America

    • MEA

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR43091

Area Rugs Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The area rugs market report covers the following areas:

  • Area Rugs Market Size

  • Area Rugs Market Trends

  • Area Rugs Market Industry Analysis

This study identifies the growing demand for high-end luxury area rugs as one of the prime reasons driving the area rugs market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Area Rugs Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024

  • Detailed information on factors that will assist area rugs market growth during the next five years

  • Estimation of the area rugs market size and its contribution to the parent market

  • Predictions on upcoming trends and changes in consumer behavior

  • The growth of the area rugs market

  • Analysis of the market’s competitive landscape and detailed information on vendors

  • Comprehensive details of factors that will challenge the growth of area rugs market vendors

Table of Contents:

Market Landscape

  • Market ecosystem

  • Value chain analysis

Market Sizing

  • Market definition

  • Market segment analysis

  • Market size 2019

  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Bargaining power of buyers

  • Bargaining power of suppliers

  • Threat of new entrants

  • Threat of substitutes

  • Threat of rivalry

  • Market condition

Market Segmentation by Product

  • Market segments

  • Comparison by Product

  • Machine-made area rugs - Market size and forecast 2019-2024

  • Handmade area rugs - Market size and forecast 2019-2024

  • Market opportunity by Product

Market Segmentation by Application

  • Market segments

  • Comparison by Application

  • Residential - Market size and forecast 2019-2024

  • Commercial - Market size and forecast 2019-2024

  • Market opportunity by Application

Market Segmentation by Distribution channel

  • Market segments

  • Comparison by Distribution channel

  • Offline - Market size and forecast 2019-2024

  • Online - Market size and forecast 2019-2024

  • Market opportunity by Distribution channel

Customer landscape

  • Overview

Geographic Landscape

  • Geographic segmentation

  • Geographic comparison

  • North America - Market size and forecast 2019-2024

  • APAC - Market size and forecast 2019-2024

  • Europe - Market size and forecast 2019-2024

  • South America - Market size and forecast 2019-2024

  • MEA - Market size and forecast 2019-2024

  • Key leading countries

  • Market opportunity by geography

Drivers, Challenges, and Trends

  • Market drivers

  • Volume driver - Demand led growth

  • Volume driver - Supply led growth

  • Volume driver - External factors

  • Volume driver - Demand shift in adjacent markets

  • Price driver - Inflation

  • Price driver - Shift from lower to higher priced units

  • Market challenges

  • Market trends

Vendor Landscape

  • Overview

  • Landscape disruption

Vendor Analysis

  • Vendors covered

  • Market positioning of vendors

  • Balta Group NV

  • Berkshire Hathaway Inc.

  • Capel Inc.

  • Harounian Rugs International

  • Kalaty Rug Corp.

  • Milliken & Co.

  • Mohawk Industries Inc.

  • Oriental Weavers Group

  • The Dixie Group Inc.

  • The Natural Carpet Co.

Appendix

  • Scope of the report

  • Currency conversion rates for US$

  • Research methodology

  • List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201021005655/en/

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