Area Rug Market – A Study on a Type of Aesthetic Floor Covering

  • Area rugs can be defined as a thick and heavy cloth usually made of wool, and smaller than a carpet
  • Area rugs are floor coverings used to protect floors, diminish noise, and enhance comfort. These rugs also add a personality to the décor of any definite space.
  • Currently, a myriad of shapes, sizes, colors, and construction of rugs is available in the market. Persian, oriental, contemporary, and Native American are a few options of area rugs.
  • Some of the other purposes of area rugs is to prevent slips and accidental falls
  • Bangladesh, Iran, and India are among the largest producers and exporters of luxury hand woven area rugs

Rising demand for high quality, attractive area rugs likely to drive the global area rug market

  • Over the years, demand for high quality rugs with attractive colors and designs has increased significantly, contributing to the overall growth of the area rug market
  • In addition, rising disposable income in developing economies is expected to increase the demand for mid-range – high quality area rugs  
  • The U.S and Europe are among the major importers of carpets, and growth in both residential as well as commercial sectors in these regions are likely to bolster the demand for area rugs during the forecast period

Are you a start-up willing to make it big in the business? Grab an exclusive PDF Brochure of this report

Partnerships aimed at design innovation of area rugs to generate opportunity for the area rug market

  • Leading manufacturers in the market are partnering with individual designers and private interior designing firms to bring further innovation in designs and production of area rugs
  • For instance, in September 2019, Harounian Rugs International and Sunbrella announced a partnership to produce a unique collection of indoor and outdoor rugs. In July 2019, Tamarian announced its new rug collection in collaboration with Baltimore – based artists.  

Challenges with respect to quality and delayed delivery to hinder the area rug market

  • Majority of area rug manufacturers have reported delayed delivery and quality as a major challenge. In addition, rising demand for high quality area rugs at an affordable price have placed manufacturers in jeopardy, as cost of procurement of quality raw materials and skilled labor continues to rise, resulting in low growth.

Asia Pacific to Hold Leading Share of the Global Area Rug Market

  • Geographically, the global area rug market can be divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America
  • Country and sub-region level analysis of the North America region features the U.S., Canada, and Rest of North America. Analysis and forecast of the area rug market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The area rug market in South America is segmented into Brazil, and Rest of South America.
  • Asia Pacific dominated the market in 2018 due to presence of major exporting countries in the region. Bangladesh, India, and Pakistan are the main centers of hand woven carpet manufacturers, and growing demand for hand woven mid-range area rugs is expected to contribute to the dominance of APAC during the forecast period.
  • The market in Asia Pacific is projected to expand at the fastest CAGR, followed by Middle East & Africa and Europe during the forecast period. Expanding presence of production facilities and increasing export of area rugs through online channels are the key factors contributing to the growth of the market in the Asia Pacific region.

Looking for Regional Analysis or Competitive Landscape in Area Rug Market, ask for a customized report

Key Players Operating in the Area Rug Market

The area rug market is highly competitive with several global and regional players. Major players are adopting various strategies such as regional expansion and product portfolio expansion to enhance their position in the market. A few of the key players operating in the global area rug market are listed below:

  • Mohawk Industries
  • Kalaty Rug Corporation
  • Momeni Rugs and Carpet
  • Masland Carpets and Rugs
  • Kermans Flooring
  • Safavieh LLC
  • Loloi Rugs
  • Jaipur Living Inc.
  • Nourison Industries
  • Oriental Weavers Carpet Company                                            

Global Area Rug Market: Research Scope

Global Area Rug Market, by Weave Type

  • Hand-knotted
  • Machine-made rugs
  • Hand Tufted
  • Flat Weave

Global Area Rug Market, by Material

  • Jute
  • Viscose
  • Cotton
  • Polypropylene
  • Nylon
  • Others

Global Area Rug Market, by Price Level

  • Luxury
  • Mid-range
  • Budget/Economic

Global Area Rug Market, by End-use

  • Residential
  • Commercial

Global Area Rug Market, by Distribution Channel

  • Online
  • Offline
    • Specialty Stores
    • Supermarkets/Hypermarkets
    • Others

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Area Rug Market

Pre Book