Market Research Report
Europe Carpet Tiles Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)
|Europe Carpet Tiles Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)|
Published: May 13, 2021
Mordor Intelligence Pvt Ltd
Content info: 170 Pages
Delivery time: 2-3 business days
The Europe Carpet Tiles market is anticipated to rise at a considerable rate and expected to grow at a CAGR of greater than 4.2% during forecast period 2021-2026.
The outbreak of the Coronavirus disease (COVID-19) has impacted negatively on the Carpet Tile Market in Europe region, 2020. It has disrupted supply chains, caused shortage of materials, and terminated contracts to control expenses. The lack of labor is also hampering the overall Carpet Tile Market growth in Europe region. This may slowdown the industry growth during the forecast timeframe. Sales dropped due to consumers had little opportunity to explore the products.
Carpet tiles are used as common alternative to the rolled carpet and are used mainly in commercial building such as schools, libraries, airports, and corporate offices. In addition, carpet tiles are easier to install than the traditional tiles and can be installed in variety of floors like concrete, timber, and other surfaces. These tiles are wear-resistant, sound-proof, waterproof, anti-static, flame-retardant, anti-fouling, dimensionally stable, non-deformable, non-discoloring, extremely convenient to fit, and have other advantages, which are required for the commercial building. In addition, carpet tiles act as insulation and help in trapping heat in cold weather, which increases its demand in cold countries. Innovation in the industry is related to eco-friendly carpet tiles manufacturing. Their flexibility in the terms of ease of installation, highly level of customizability in terms of design and size, optimum pricing, and certain attributes such as noise insulation and easy maintenance make their demand high. The growth of the market is driven by key factors such as manufacturing activity, market situation and demand, risks of the market, new trends, and new technologies and their implementation.
The Europe carpet tile market has witnessed substantial growth over the last few years, and the growth of the market is attributed to several factors. Increasing consumer inclination towards the interior decorations coupled with the rising per capita disposable income of the consumers is anticipated to propel the growth of the Europe carpet tile market during the forecast period. One of the major factors driving the growth of the Europe carpet tile market is the expansion of the transportation and construction industries. Consumers are making a move toward non-geometrical designer patterns and attractive bold colors in carpet tiles, which is likely to drive the Europe carpet tile market. Increased demand for environment-friendly carpets and increased adoption of carpet tiles are likely to boost the market. In recent years, developments have focused on making the products more environment-friendly, versatile, and durable, as well as easier to install and maintain.
Germany is One of the Prominent Markets for Carpet Tile in the Region
Germany is one of the largest contributors of carpet tiles and carpets to the overall market share. The rapid expansion of the construction of commercial buildings, offices, and housing activities across the region, particularly in Germany is one of the primary factors fostering the growth of the carpet tile market in near future. Significant improvements in infrastructure, such as commercial offices, production sites, and an increase in residential real estate in the country, are some major reasons for the growth of carpets and rugs in Germany. In addition, Germany is one of the key players in the automotive and aerospace industry, which is also witnessing an increase in the domestic use of carpet tiles in their offices and commercial sectors, which is expected to fuel the market demand further during the forecast period.
The residential sector is likely to witness high growth in Germany due to an increase in construction in housing units as well as commercial spaces. High consumer interest in interior decoration is one of the significant factors for the rising growth of the carpet tile market in Germany. Apart from that, increasing renovation and remodeling activities in real estate sectors in the Germany has resulted in the massive demand for carpet tile over the last few years. The region has a high rate of innovation, which helps in propelling market growth. High disposable income leads to a high level of investments and better standards of living. Germany is one of the countries generating the highest revenue for the market.
Residential Segment in Europe Region is Driving the Market
Growing disposable income and comparative advantages over other flooring solutions are responsible to increase in housing starts and a strong interest in home renovation projects, such as the removal of worn or out-of-style carpets and rugs, will spur demand. The installation of new carpeting can improve a home's appearance and boost its value. Carpet tiles and carpets are often installed in newly built houses because of their moderate cost, ease of installation, and favorable aesthetics. Residential remodeling and replacement will continue to account for the largest share of carpet and rug demand as homeowners replace older or worn carpets and rugs with newer products that offer enhanced visuals or improved stain resistance.
The report covers major international players operating in the Europe Carpet Tile market. In terms of market share, few of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping new markets.