Europe Luxury Vinyl Tile Flooring Market Report 2021-2031 by Scope, Segmentation, Dynamics, and Competitive Analysis

Description

List of Tables

The Europe luxury vinyl tile (LVT) flooring market is projected to grow significantly, reaching approximately US$ 12,218.67 million by 2031, up from US$ 6,512.60 million in 2023, with an estimated compound annual growth rate (CAGR) of 8.2% from 2023 to 2031.

Executive Summary and Market Analysis

The European LVT flooring market is divided into several key regions, including Germany, France, Italy, the UK, Russia, and the Rest of Europe. There is a notable trend among European consumers favoring LVT flooring due to its durability, low maintenance, and aesthetic versatility. This trend is especially strong in Germany, the UK, France, and the Nordic countries, where homeowners and businesses are increasingly seeking high-quality, long-lasting flooring options. According to the European Commission, the residential renovation market in Europe was valued at around US$ 498.5 billion in 2023, while the overall construction revenue reached approximately US$ 1.45 trillion.

LVT's ability to mimic natural materials like hardwood and stone makes it an attractive choice for consumers who prioritize both style and practicality. Additionally, regulatory standards and environmental concerns are shaping the market, as the EU emphasizes sustainability. Manufacturers are responding by developing eco-friendly LVT products made from recycled materials and featuring low VOC emissions, appealing to environmentally conscious buyers.

Economic factors such as urbanization, renovation activities, and housing market trends are also driving the growth of the LVT flooring market. Urbanization increases the demand for flooring solutions in both commercial and residential spaces, while renovation projects provide opportunities for LVT installation. Furthermore, fluctuations in raw material prices can affect consumer spending on home improvement projects, including flooring upgrades.

Market Segmentation Analysis

The luxury vinyl tile flooring market is categorized by type and end user. In terms of type, the market is divided into rigid and flexible LVT, with rigid LVT holding a larger market share in 2023. By end user, the market is segmented into residential, commercial, industrial, and institutional sectors, with the residential segment dominating the market in 2023.

Market Outlook

LVT flooring is often more affordable than natural materials such as hardwood, stone, or ceramic tiles, making it an appealing choice for budget-conscious consumers and businesses. LVT offers a lower initial purchase price while providing long-term value through its durability and low maintenance needs. The ease of installation, with methods like click-and-lock or adhesive, further enhances its cost-effectiveness, particularly for large-scale projects where minimizing labor costs is crucial.

The long-lasting nature of LVT flooring reduces the need for frequent repairs or replacements, contributing to its cost-effectiveness. Its resistance to scratches, stains, and wear ensures that it maintains its appearance and functionality, even in high-traffic areas. Additionally, LVT requires minimal upkeep compared to other flooring materials, leading to further cost savings for both homeowners and businesses. Customization options available with LVT allow consumers to achieve their desired aesthetic without the high costs associated with customizing natural materials. Recent advancements in LVT technology have also led to energy-efficient and insulating variants, which can help regulate indoor temperatures and lower energy bills.

Country Insights

The European luxury vinyl tile flooring market includes key countries such as Germany, France, the UK, Italy, Russia, Spain, Belgium, the Netherlands, and the Rest of Europe. The Rest of Europe accounted for the largest market share in 2023. Countries like Sweden, Denmark, Finland, Hungary, and Ireland have robust construction industries, with the commercial sector, including hotels and restaurants, being a significant revenue generator. The ongoing industrial development in these regions has increased the demand for LVT flooring. For example, in the Netherlands, residential construction output grew by 2% in 2022, with a similar increase in new residential construction permits. In Sweden, approximately 29,350 new apartments were initiated in 2023.

Company Profiles

Key players in the LVT flooring market include Wedge Industries Ltd, Mohawk Industries Inc, Tarkett, Shaw Industries Group Inc, Interface Inc, AHF LLC, Gerflor SAS, Congoleum, Mannington Mills Inc, and Forbo Holding AG. These companies are employing various strategies such as expansion, product innovation, and mergers and acquisitions to enhance their market presence and offer innovative products to consumers.

Product Code: BMIRE00030898

1. Introduction

1.1 Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Secondary Research
3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macroeconomic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country-level data:

4. Europe LVT Flooring Market Landscape

4.1 Overview
4.2 Porter's Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Buyers
- 4.2.3 Threat of New Entrants
- 4.2.4 Intensity of Competitive Rivalry
- 4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
- 4.3.1 Raw Material Suppliers
- 4.3.2 Manufacturers
- 4.3.3 Distributors/Suppliers
- 4.3.4 End Users
- 4.3.5 List of Vendors in the Value Chain

5. Europe LVT Flooring Market - Key Market Dynamics

5.1 Market Drivers
- 5.1.1 Growing Residential Construction
- 5.1.2 Cost-Effectiveness of LVT Flooring
5.2 Market Restraints
- 5.2.1 Environmental Concerns
5.3 Market Opportunities
- 5.3.1 Expansion of Commercial Sector
5.4 Future Trends
- 5.4.1 Technological Advancements
5.5 Impact of Drivers and Restraints:

6. LVT Flooring Market - Europe Market Analysis

6.1 Europe LVT Flooring Market Volume (Million Sq. Meter), 2021-2031
6.2 Europe LVT Flooring Market Volume Forecast and Analysis (Million Sq. Meter)
6.3 Europe LVT Flooring Market Revenue (US$ Million), 2023-2031
6.4 Europe LVT Flooring Market Forecast and Analysis

7. Europe LVT Flooring Market Volume and Revenue Analysis - by Type

7.1 Rigid
- 7.1.1 Overview
- 7.1.2 Rigid: Europe LVT Flooring Market - Volume and Forecast, 2021-2031 (Million Sq. Meter)
- 7.1.3 Rigid: Europe LVT Flooring Market - Revenue and Forecast, 2021-2031 (US$ Million)
7.2 Flexible
- 7.2.1 Overview
- 7.2.2 Flexible: Europe LVT Flooring Market - Volume and Forecast, 2021-2031 (Million Sq. Meter)
- 7.2.3 Flexible: Europe LVT Flooring Market - Revenue and Forecast, 2021-2031 (US$ Million)

8. Europe LVT Flooring Market Volume and Revenue Analysis - by End User

8.1 Residential
- 8.1.1 Overview
- 8.1.2 Residential: Europe LVT Flooring Market - Volume and Forecast, 2021-2031 (Million Sq. Meter)
- 8.1.3 Residential: Europe LVT Flooring Market - Revenue and Forecast, 2021-2031 (US$ Million)
8.2 Commercial
- 8.2.1 Overview
- 8.2.2 Commercial: Europe LVT Flooring Market - Volume and Forecast, 2021-2031 (Million Sq. Meter)
- 8.2.3 Commercial: Europe LVT Flooring Market - Revenue and Forecast, 2021-2031 (US$ Million)
8.3 Industrial
- 8.3.1 Overview
- 8.3.2 Industrial: Europe LVT Flooring Market - Volume and Forecast, 2021-2031 (Million Sq. Meter)
- 8.3.3 Industrial: Europe LVT Flooring Market - Revenue and Forecast, 2021-2031 (US$ Million)
8.4 Institutional
- 8.4.1 Overview
- 8.4.2 Institutional: Europe LVT Flooring Market - Volume and Forecast, 2021-2031 (Million Sq. Meter)
- 8.4.3 Institutional: Europe LVT Flooring Market - Revenue and Forecast, 2021-2031 (US$ Million)

9. Europe LVT Flooring Market - Country Analysis

9.1 Europe
- 9.1.1 Europe LVT Flooring Market Revenue and Forecast and Analysis - by Country
  - 9.1.1.1 Europe LVT Flooring Market Volume and Forecast and Analysis - by Country
  - 9.1.1.2 Europe LVT Flooring Market Revenue and Forecast and Analysis - by Country
  - 9.1.1.3 Germany: Europe LVT Flooring Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 9.1.1.3.1 Germany: Europe LVT Flooring Market Share - by Type
    - 9.1.1.3.2 Germany: Europe LVT Flooring Market Share - by End User
  - 9.1.1.4 France: Europe LVT Flooring Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 9.1.1.4.1 France: Europe LVT Flooring Market Share - by Type
    - 9.1.1.4.2 France: Europe LVT Flooring Market Share - by End User
  - 9.1.1.5 United Kingdom: Europe LVT Flooring Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 9.1.1.5.1 United Kingdom: Europe LVT Flooring Market Share - by Type
    - 9.1.1.5.2 United Kingdom: Europe LVT Flooring Market Share - by End User
  - 9.1.1.6 Italy: Europe LVT Flooring Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 9.1.1.6.1 Italy: Europe LVT Flooring Market Share - by Type
    - 9.1.1.6.2 Italy: Europe LVT Flooring Market Share - by End User
  - 9.1.1.7 Russia: Europe LVT Flooring Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 9.1.1.7.1 Russia: Europe LVT Flooring Market Share - by Type
    - 9.1.1.7.2 Russia: Europe LVT Flooring Market Share - by End User
  - 9.1.1.8 Spain: Europe LVT Flooring Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 9.1.1.8.1 Spain: Europe LVT Flooring Market Share - by Type
    - 9.1.1.8.2 Spain: Europe LVT Flooring Market Share - by End User
  - 9.1.1.9 Belgium: Europe LVT Flooring Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 9.1.1.9.1 Belgium: Europe LVT Flooring Market Share - by Type
    - 9.1.1.9.2 Belgium: Europe LVT Flooring Market Share - by End User
  - 9.1.1.10 Netherlands: Europe LVT Flooring Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 9.1.1.10.1 Netherlands: Europe LVT Flooring Market Share - by Type
    - 9.1.1.10.2 Netherlands: Europe LVT Flooring Market Share - by End User
  - 9.1.1.11 Rest of Europe: Europe LVT Flooring Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 9.1.1.11.1 Rest of Europe: Europe LVT Flooring Market Share - by Type
    - 9.1.1.11.2 Rest of Europe: Europe LVT Flooring Market Share - by End User

10. Competitive Landscape

10.1 Heat Map Analysis by Key Players
10.2 Company Positioning & Concentration

11. Industry Landscape

11.1 Overview
11.2 New Product Development
11.3 Merger and Acquisition

12. Company Profiles

12.1 Wedge Industries Ltd
- 12.1.1 Key Facts
- 12.1.2 Business Description
- 12.1.3 Products and Services
- 12.1.4 Financial Overview
- 12.1.5 SWOT Analysis
- 12.1.6 Key Developments
12.2 Mohawk Industries Inc
- 12.2.1 Key Facts
- 12.2.2 Business Description
- 12.2.3 Products and Services
- 12.2.4 Financial Overview
- 12.2.5 SWOT Analysis
- 12.2.6 Key Developments
12.3 Tarkett
- 12.3.1 Key Facts
- 12.3.2 Business Description
- 12.3.3 Products and Services
- 12.3.4 Financial Overview
- 12.3.5 SWOT Analysis
- 12.3.6 Key Developments
12.4 Shaw Industries Group Inc
- 12.4.1 Key Facts
- 12.4.2 Business Description
- 12.4.3 Products and Services
- 12.4.4 Financial Overview
- 12.4.5 SWOT Analysis
- 12.4.6 Key Developments
12.5 Interface Inc
- 12.5.1 Key Facts
- 12.5.2 Business Description
- 12.5.3 Products and Services
- 12.5.4 Financial Overview
- 12.5.5 SWOT Analysis
- 12.5.6 Key Developments
12.6 AHF LLC
- 12.6.1 Key Facts
- 12.6.2 Business Description
- 12.6.3 Products and Services
- 12.6.4 Financial Overview
- 12.6.5 SWOT Analysis
- 12.6.6 Key Developments
12.7 Gerflor SAS
- 12.7.1 Key Facts
- 12.7.2 Business Description
- 12.7.3 Products and Services
- 12.7.4 Financial Overview
- 12.7.5 SWOT Analysis
- 12.7.6 Key Developments
12.8 Congoleum
- 12.8.1 Key Facts
- 12.8.2 Business Description
- 12.8.3 Products and Services
- 12.8.4 Financial Overview
- 12.8.5 SWOT Analysis
- 12.8.6 Key Developments
12.9 Mannington Mills Inc
- 12.9.1 Key Facts
- 12.9.2 Business Description
- 12.9.3 Products and Services
- 12.9.4 Financial Overview
- 12.9.5 SWOT Analysis
- 12.9.6 Key Developments
12.10 Forbo Holding AG
- 12.10.1 Key Facts
- 12.10.2 Business Description
- 12.10.3 Products and Services
- 12.10.4 Financial Overview
- 12.10.5 SWOT Analysis
- 12.10.6 Key Developments

13. Appendix

13.1 About The Insight Partners