Report : North America Flooring Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Resilient Flooring, Non-resilient Flooring, and Soft Cover & Others), Material [Carpets and Rugs, Wood, Laminates, Vinyl Sheets and Tiles (Homogeneous and Heterogeneous, LVT and VCT, and Others), Ceramic Tiles, and Stone & Others], and Application (Residential and Non-Residential)
At 5.8% CAGR, the North America Flooring Market is speculated to be worth US$ 96.66 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America flooring market was valued at US$ 68.95 million in 2022 and is expected to reach US$ 96.66 million by 2028, registering an annual growth rate of 5.8% from 2022 to 2028. Increase in investments by consumers in renovation and rise in demand for vinyl flooring.
Most people use the renovation method as the ultimate choice for interior design to enhance the appearance of their homes. Ceramic tiles, carpet, vinyl tiles, laminates, and wood flooring are easy to clean, scratch-resistant, cost-effective, and long-lasting. Hence, customers prefer these products during the renovation process. The increasing demand for refurbishment and renovation in residential and commercial buildings is thus expected to support the flooring market growth. Additionally, the growing customer awareness and demand for new age flooring solutions on account of stringent regulations on sustainable and energy-efficient buildings is also expected to augment the demand for flooring solutions in near future. This is expected to drive the market during the forecast period.
On the contrary, stringent government regulations on emissions norms associated with manufacturing of flooring hurdles the growth of North America flooring market.
Based on product type, the North America flooring market is divided into resilient flooring, non-resilient flooring, and soft cover & others. The non-resilient flooring segment held 50.9% market share in 2022, amassing US$ 35.12 million. It is projected to garner US$ 49.11 million by 2028 to expand at 5.7% CAGR during 2022–2028.
Based on material, the North America flooring market is categorized into carpets and rugs, wood, laminates, vinyl sheets and tiles (homogeneous and heterogeneous, LVT & VCT, and others), ceramic tiles, and stone & others. The carpets and rugs segment held 43.3% market share in 2022, amassing US$ 29.88 million. It is projected to garner US$ 43.15 million by 2028 to expand at 6.3% CAGR during 2022–2028.
Based on application, the North America flooring market is categorized into residential and non-residential. The residential segment held 64.1% market share in 2022, amassing US$ 44.22 million. It is projected to garner US$ 61.45 million by 2028 to expand at 5.6% CAGR during 2022–2028.
Based on country, the North America flooring market has been categorized into the US and Canada. Our regional analysis states that US captured 86.5% market share in 2022. It was assessed at US$ 59.61 million in 2022 and is likely to hit US$ 84.02 million by 2028, exhibiting a CAGR of 59.9% during the forecast period.
Key players dominating the North America flooring market are Mohawk Flooring; Shaw Industries Group, Inc.; Tarkett; Armstrong Flooring, Inc.; Forbo International SA; Gerflor; Interface, Inc.; Beaulieu International Group; Toil Corporation; and Milliken, among others.
- In Feb 2019, Tarkett refreshed solid color palette for resilient flooring.
- In Oct 2021, Armstrong Flooring introduces essentials plus rigid core flooring.
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