PUBLISHER: The Business Research Company | PRODUCT CODE: 1409421
PUBLISHER: The Business Research Company | PRODUCT CODE: 1409421
“Flooring Contractors Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on flooring contractors market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for flooring contractors? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The flooring contractors market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Flooring contractors are professionals specializing in the installation of various flooring and floor coverings, providing expertise in carpet, resilient sheet products, resilient tile, and wood floors, including finishing and repair services.
The primary categories of flooring contractors include carpet and rug, resilient flooring, and non-resilient flooring. Rugs are woven fabrics used to cover specific floor areas, while carpets are floor coverings that can extend from wall to wall. These contractors engage in different construction types, such as new construction, renovation, and other projects, catering to both residential and non-residential clients.
The flooring contractors market research report is one of a series of new reports from The Business Research Company that provides flooring contractors market statistics, including the flooring contractors industry's global market size, regional shares, competitors with flooring contractors market share, detailed flooring contractors market segments, market trends, and opportunities, and any further data you may need to thrive in the flooring contractors industry. This flooring contractors market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The flooring contractors market size has grown strongly in recent years. It will grow from $199.32 billion in 2023 to $216.05 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The historic growth in the flooring contractor industry can be attributed to trends in housing and commercial construction, increased renovation and remodeling activities, preferences for design and aesthetics, population growth and urbanization, and expansion in the commercial and retail sectors.
The flooring contractors market size is expected to see strong growth in the next few years. It will grow to $302.67 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The forecasted growth in the flooring contractor industry can be attributed to innovation in flooring materials, the adoption of green and eco-friendly building practices, a shift in consumer preferences toward luxury flooring options, technological integration in flooring solutions, and continued development in residential and commercial real estate. Major trends in the forecast period include the use of digital tools for flooring design and visualization, expansion into resilient and soft flooring, emphasis on quick and efficient installation, the rise of e-commerce and online flooring sales, and the integration of recycled and upcycled materials.
The upsurge in renovation and remodeling activities is set to be a driving force behind the expansion of the flooring contractors market. Renovation and remodeling entail enhancing or modernizing existing structures without altering their layouts. Homeowners and business entities are increasingly engaging in various renovation projects, including flooring enhancements, to elevate aesthetics and provide improved insulation, comfort, and durability to their properties. Harvard University's Joint Center for Housing Studies (JCHS) reported that the home remodeling market in the USA surged to $430 billion in 2022, marking a notable 17% increase from the preceding year. This surge underscores the substantial impact of renovation and remodeling activities on fostering growth within the flooring contractor market.
The escalating volume of construction activities is anticipated to drive growth within the flooring contractor market. Construction activities encompass the process of building and finalizing constructions or installations. Flooring contractors play a pivotal role in construction projects by precisely measuring, cutting, and installing flooring materials in new constructions, adhering to industry standards. According to a report by Oxford Economics in March 2022, global construction output reached $9.7 trillion in 2022 and is forecasted to grow by 43%, or $4.2 trillion, to reach USD 13.9 trillion between 2022 and 2037. This projected increase emphasizes the significant role of expanding construction activities in propelling growth within the flooring contractor market.
The introduction of Aqua+ technology in laminate flooring emerges as a prominent trend shaping the landscape of the flooring contractor market. Leading market players are concentrating efforts on incorporating innovative technologies to solidify their market positions. Aqua+ technology, leveraging a specific type of high-density fiberboard in its core, renders laminate flooring more resistant to water swelling. This technology significantly enhances moisture resistance by up to five times compared to traditional laminate flooring, making it particularly suitable for various applications. For instance, EGGER, an Austria-based supplier specializing in furniture, interior design, structural wood construction, and flooring, unveiled the PRO Laminate Aqua+ in January 2021. This innovative flooring solution showcases enhanced resistance to water swelling, making it well-suited for spaces such as bathrooms, kitchens, hallways, and commercial areas requiring frequent cleaning and steam cleaning practices. This innovation underlines the market's inclination towards advanced, moisture-resistant flooring solutions catering to evolving consumer needs and preferences.
Prominent entities within the flooring contractors market are actively pursuing collaboration and partnership strategies aimed at delivering reliable services to their clientele. A strategic partnership in this context refers to a formal association established between two or more commercial enterprises, typically solidified through contractual agreements or business arrangements. For example, in June 2021, Victoria PLC, a distinguished UK-based manufacturer and distributor specializing in innovative flooring products, executed the acquisition of Cali Bamboo, LLC, with the financial details remaining undisclosed. This strategic acquisition serves as a pivotal move for Victoria PLC, facilitating an expanded market reach in the United States. The acquisition enables the UK company to capitalize on CALI's highly lucrative direct-sales channel, amplifying Victoria's existing business-to-business (B2B) relationships and alliances. Cali Bamboo, LLC, a US-based omnichannel firm specializing in building products, is renowned for crafting and distributing flooring, decking, and other premium items that offer aesthetically appealing, environmentally conscious alternatives to conventional materials. This strategic partnership between Victoria PLC and Cali Bamboo aligns with the objective of enhancing market presence, expanding distribution networks, and delivering a diversified portfolio of environmentally conscious flooring solutions to meet evolving consumer demands.
In December 2022, Lynx Equity, a Canadian-based private equity firm, completed the acquisition of Resource4Floors for an undisclosed sum. Lynx Equity's strategic objective behind this acquisition was to establish a commanding presence as a premier commercial flooring contractor in South Florida, USA. Resource4Floors, a US-based company, specializes in offering comprehensive commercial flooring solutions. This acquisition signifies Lynx Equity's deliberate move to expand its footprint in the commercial flooring sector, particularly in the vibrant market of South Florida, thereby positioning itself as a significant player in this region's commercial flooring landscape.
Major companies operating in the flooring contractors market report are Mohawk Industries Inc., Shaw Industries Group Inc., Empire Today LLC, Beaulieu International Group, Mannington Mills Inc., AWI Licensing LLC, Koetter Woodworking Inc., H. J. Martin & Son Inc., Redi Carpet Sales of Virginia Inc., Bonitz Company of Carolina Inc., Spectra Contract Flooring, Burke Industries Inc., Global Flooring Group, Polyflor Ltd., Crossville Inc., Armstrong Flooring Inc., Interface Inc., The Dixie Group Inc., Tarkett S.A., Forbo Holding AG, TOLI Corporation, Congoleum Corporation, CBC Flooring, National Floors Direct Inc., Artistic Floors by Design Inc., Alia's Flooring and Remodeling, Shine Star Hardwood Flooring, Floor Coverings International, IVC Group Ltd., LG Hausys Ltd. .
Asia-Pacific was the largest region in the flooring contractors market in 2023. The regions covered in the flooring contractors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the flooring contractors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The flooring contractors market includes revenues earned by entities by providing flooring installations using flooring materials made from a combination of natural and synthetic polymer materials. Flooring activity includes new work, additions, alterations, maintenance, and repairs. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.