Market Size of India Wood Flooring Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR (2024 - 2029) | 6.40 % |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
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India Wood Flooring Market Analysis
The India Wood Flooring Market is expected to register a CAGR of greater than 6.40% during the forecast period(2024-2029).
The Indian wood flooring market is anticipated to register growth numbers during the forecast period owing to the rapidly expanding construction industry across India, which ultimately raises flooring opportunities. The government's efforts to encourage the tourism industry in the country are leading to a rise in the hospitality industry and the construction of hotels and premium stay-in facilities like villas and resorts. The entertainment sector is also growing in India with rapid population growth and ultimate urbanization, which is encouraging the expansion of shopping malls, family entertainment centers, etc.
India's wood flooring market, which is one of the leading variants of the flooring market, suffered several setbacks during 2020 due to the sudden COVID-19 pandemic. However, the residential construction sector, which was the key market for wood flooring, also suffered due to COVID-19, which in turn affected the wood flooring market with revenue losses.
The premium features offered by wood flooring, such as ease of installation, long-lasting shine and durability, and an ultimate aesthetic appearance, make wood flooring highly adaptable to the hospitality industry. Wood flooring also has other applications, such as wall coverings and other segments. They are widely used for exterior covering in the residential sector, along with floor covering applications in the backyard and on decks. Also, the growing number of engineered wood manufacturers are focusing on ways to increase their production capacities by adopting technology that helps in printing new designs and patterns and are also offering customization in various product ranges in terms of shape, size, and designs.
India Wood Flooring Industry Segmentation
Wood flooring is any product manufactured from timber that is designed for use as flooring, either structurally or aesthetically. Wood is a common choice as a flooring material and can come in various styles, colors, cuts, and species. Bamboo flooring is often considered a form of wood flooring, although it is made from grass (bamboo) rather than timber.
The India Wood Flooring Market Is Segmented By Product Type (Solid Wood Flooring, Laminated Wood Flooring, And Engineered Wood Flooring), By End-User (Residential And Commercial), And By Distribution Channel (Home Centers, Specialty Stores, Online Retailers, And Other Distribution Channels). The Report Offers Market Size And Forecasts For The Indian Wood Flooring Market In Terms Of Value (USD) For All The Above Segments.
By Product Type | |
Solid Wood | |
Laminated Wood | |
Engineered Wood |
By End-User Type | |
Residential | |
Commercial |
By Distribution Channel | |
Home Centers | |
Specialty Stores | |
Online | |
Other Distribution Channels |
India Wood Flooring Market Size Summary
The India wood flooring market is poised for significant growth over the forecast period, driven by the burgeoning construction industry and urbanization trends across the country. The expansion of the hospitality sector, fueled by government initiatives to boost tourism, is creating increased demand for premium stay-in facilities such as hotels, villas, and resorts. This, coupled with the growth of the entertainment sector and the rise of shopping malls and family entertainment centers, is providing ample opportunities for wood flooring applications. Despite the setbacks experienced during the COVID-19 pandemic, which impacted the residential construction sector and led to revenue losses, the market is recovering and adapting to new demands. The premium features of wood flooring, including ease of installation, durability, and aesthetic appeal, make it particularly suitable for the hospitality industry, while its versatility allows for use in various applications such as wall coverings and exterior residential coverings.
The market is experiencing a shift towards engineered wood, which is gaining popularity due to its affordability and resilience to environmental changes. Engineered wood offers a cost-effective alternative to traditional hardwood flooring without compromising on aesthetics, making it a favored choice among residential customers. The increasing number of engineered wood manufacturers is enhancing production capacities through technological advancements, allowing for customization in design and patterns. The commercial segment is also witnessing a rise in demand, driven by the construction of luxury living spaces and hospitality venues. The market remains moderately fragmented, with numerous small and medium-sized manufacturers operating regionally. Recent strategic moves by key players, such as acquisitions and joint ventures, are expected to strengthen their market positions and drive further growth in the coming years.
India Wood Flooring Market Size - Table of Contents
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1. MARKET DYNAMICS AND INSIGHTS
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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 Industry Attractiveness - Porter's Five Forces Analysis
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1.5.1 Bargaining Power of Buyers
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1.5.2 Bargaining Power of Suppliers
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1.5.3 Threat of New Entrants
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1.5.4 Threat of Substitutes
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1.5.5 Intensity of Competitive Rivalry
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1.6 Insights into Latest Technologies Used in the Industry
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1.7 Insights into Regulatory Landscape in the Market
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1.8 Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Product Type
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2.1.1 Solid Wood
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2.1.2 Laminated Wood
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2.1.3 Engineered Wood
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2.2 By End-User Type
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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 Home Centers
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2.3.2 Specialty Stores
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2.3.3 Online
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2.3.4 Other Distribution Channels
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India Wood Flooring Market Size FAQs
What is the current India Wood Flooring Market size?
The India Wood Flooring Market is projected to register a CAGR of greater than 6.40% during the forecast period (2024-2029)
Who are the key players in India Wood Flooring Market?
Avant Flooring, BVG Industries Pvt. Ltd., Greenlam Industries, Greenply Industries Limited and Century Plyboards India Ltd are the major companies operating in the India Wood Flooring Market.