PUBLISHER: Grand View Research | PRODUCT CODE: 1268622
PUBLISHER: Grand View Research | PRODUCT CODE: 1268622
The Europe carpet market size is expected to reach USD 73.89 billion by 2030 to expand at a CAGR of 4.3% from 2023 to 2030 according to a new report by Grand View Research, Inc. The growing application of the product in residential and non-residential sectors on account of its high market visibility for soft flooring products and good insulation properties, such as floor insulation, is projected to positively influence the market growth.
Woven carpets offer designers, architects, and end-users' distinctive advantages over other flooring options in terms of aesthetics, value, and performance. These strong woven carpets are either made by hand or a machine, but both processes typically use the same method. The growing interest toward handmade woven products is one of the reasons for booming trends.
The high demand for residential and non-residential applications in various countries, including Germany, France, Russia, Italy, and the U.K., will fuel the product demand for Europe market in the next few years. This could be attributed to the heavy deployment of carpets as flooring materials in production units, commercial firms, and non-residential offices across Europe.
Germany is the main leader in imports, accounting for around one billion euro worth annually. The key market drivers include development in the transportation and construction industries, along with rise in renovation activities. Also, the buyers are increasingly moving towards attractive and bold colors and non-geometrical exclusive patterns, which also aids to drive demand in the market.
The rising trends include an increase in the demand for eco-friendly products, growing acceptance of carpet tiles, and inclination towards contemporary area carpets. Furthermore, the demand for exclusively high-quality handmade products will remain high, therefore the industry is expected to witness growth in regional markets for the next few years.