Market Size of Europe Carpet and Rugs Industry
Study Period | 2020 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2020 - 2022 |
CAGR | 3.00 % |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Europe Carpet & Rugs Market Analysis
Europe Carpet and Rugs Market has generated a revenue of USD 17 Billion in the current year and is poised to achieve a CAGR of 3% for the forecast period.
The sudden outbreak of the COVID-19 pandemic severely affected the European economy in 2020. The highly infectious nature of the disease forced local governments to impose lockdowns and restrictions on the movement of people. As many people worked from home, they renovated and decorated their homes. Retail sales of carpets and rugs declined in 2020, but online retailers grew strongly.
The European carpet and rug market is expected to witness strong growth during the forecast period. Some of the major factors positively impacting the market's strong growth include rising demand for rugs and carpets in the residential and non-residential sectors due to its high market visibility for soft flooring products and good insulation properties, such as floor insulation. Furthermore, the growth of the residential sector of Eastern European countries, such as Russia and Turkey, on account of increasing spending by builders, is expected to increase the demand for flooring, including carpets and rugs, during the forecast period.
Europe is the second-largest market for carpets after the United States, which accounts for nearly 40% of the total European floor-covering market. The majority of European carpet is produced in Belgium, with 96% of its carpet exported. Germany has the largest demand for carpets in Europe, followed by France, the United Kingdom, Italy, and Spain.
Europe meets a lot of its demand for rugs from other countries. Germany, the United Kingdom, and Denmark are the largest importers of hand-woven rugs in Europe.
The region is witnessing rising trends, such as an increase in demand for eco-friendly carpets, a growing acceptance of carpet tiles, and an inclination toward contemporary surface rugs, which are shifting the dynamics of the European rugs and carpet market. Moreover, the demand for high-quality handmade carpets and rugs is increasing, propelling the market growth further during the forecast period.
Europe Carpet & Rugs Industry Segmentation
Carpets and rugs are floor covering used to improve aesthetics of the house/office spaces and provide comfort and warmth. The yarn typically made from woven fabric such as wool, cotton, silk and jute. Rug is used to cover a specific area of the floor while carpet is used for covering wall-to-wall or are fixed-to-the-floor. A complete background analysis of the European carpet and rug market, which includes an assessment of the parental market, emerging trends by segments and regional markets, significant changes in market dynamics, and a market overview, is covered in the report. The report also features a qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry's value chain.
The European carpet and rugs market is segmented by type (wall-to-wall tufted carpets, wall-to-wall woven carpets, and rugs), application (residential and commercial), distribution channel (contractors, retail, other distribution channels), and country (Germany, the United Kingdom, France, Spain, and Rest of Europe). The report offers market size and forecasts for the European carpet and rug market in value (USD billion) for all the above segments.
By Type | |
Wall to Wall Tufted Carpets | |
Wall to Wall Woven Carpets | |
Rugs |
By Application | |
Residential | |
Commercial |
By Distribution Channel | |
Contractors | |
Retail | |
Other Distibution Channels |
By Country | |
Germany | |
United Kingdom | |
France | |
Spain | |
Rest of Europe |
Europe Carpet and Rugs Market Size Summary
The European carpet and rugs market is poised for steady growth, driven by increasing demand in both residential and non-residential sectors. The market's resilience is evident as it recovers from the pandemic's impact, with a notable shift towards online retailing. The region's strong demand for soft flooring products, coupled with their insulation properties, is fueling this growth. Eastern European countries, particularly Russia and Turkey, are experiencing a surge in residential construction, further boosting the demand for carpets and rugs. Europe, being the second-largest market globally, sees significant production in Belgium, with Germany leading in demand, followed by France, the UK, Italy, and Spain. The market is also characterized by a growing preference for eco-friendly and contemporary designs, which are reshaping consumer preferences and driving market dynamics.
Germany plays a pivotal role in the European carpet and rugs market, with substantial contributions to market share due to infrastructure developments and increased residential real estate. The country's automotive and aerospace industries are also contributing to the demand for carpets and rugs in vehicle interiors. Tufted carpets are particularly popular, favored for their affordability, aesthetics, and ease of installation. The market is highly fragmented, with numerous players like Balta Group and Milliken investing in research and development to enhance product offerings. Recent strategic moves, such as Victoria's acquisition of Balta Group's rugs division and Milliken's expansion of manufacturing capabilities, underscore the competitive landscape and the ongoing efforts to meet evolving market demands.
Europe Carpet and Rugs Market Size - Table of Contents
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1. MARKET INSIGHTS AND DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Value Chain/Supply Chain Analysis
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1.5 Porter's Five Forces Analysis
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1.5.1 Threat of New Entrants
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1.5.2 Bargaining Power of Buyers/Consumers
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1.5.3 Bargaining Power of Suppliers
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1.5.4 Threat of Substitute Products
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1.5.5 Intensity of Competitive Rivalry
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1.6 Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Wall to Wall Tufted Carpets
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2.1.2 Wall to Wall Woven Carpets
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2.1.3 Rugs
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2.2 By Application
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2.2.1 Residential
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2.2.2 Commercial
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2.3 By Distribution Channel
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2.3.1 Contractors
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2.3.2 Retail
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2.3.3 Other Distibution Channels
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2.4 By Country
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2.4.1 Germany
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2.4.2 United Kingdom
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2.4.3 France
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2.4.4 Spain
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2.4.5 Rest of Europe
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Europe Carpet and Rugs Market Size FAQs
What is the current Europe Carpet and Rugs Market size?
The Europe Carpet and Rugs Market is projected to register a CAGR of 3% during the forecast period (2024-2029)
Who are the key players in Europe Carpet and Rugs Market?
Balta Group, Associated Weavers, Egetaepper A/S, Tarkett/Desso and Milliken are the major companies operating in the Europe Carpet and Rugs Market.