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
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.
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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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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.
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.
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
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