Commercial Flooring Global Market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
Commercial Flooring Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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The commercial flooring market is projected to grow from $62.52 billion in 2023 to $66.33 billion in 2024, reflecting a CAGR of 6.1%. Factors contributing to this growth include an increase in commercial construction projects, evolving design trends, a greater demand for durable flooring solutions, and heightened environmental and sustainability concerns.
How Much Will the Global Commercial Flooring Market Grow, and What Is the Predicted Annual Growth Rate?
The market size is expected to see strong growth in the next few years. It will grow to $84.34 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to circular economy practices, emerging market demand, growing need for resilient and low-maintenance flooring, safety and slip resistance requirements, growing real estate
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What Are The Top Drivers Contributing To The Growth Of The Commercial Flooring Market?
Rapid urbanization is also influencing the market, driven by an increase in construction activities. As the global urban population is expected to rise significantly, the need for commercial spaces will continue to grow, providing a strong impetus for the flooring market. With urban areas currently housing 55% of the world's population, this trend is set to escalate, fueling demand for various flooring solutions.
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Which Companies Are Leading Growth in the Commercial Flooring Market?
Major companies operating in the market include Mannington Mills Inc., Amtico International Inc., Mohawk Industries Inc., Armstrong Flooring Inc., Flowcrete Group Ltd., Forbo Holding AG, Interface Inc., Gerflor SAS, Hanwha Group, Congoleum Corporation, NOX Corporation, Milliken & Company, LX Hausys, Tarkett S.A., Nora Systems Inc, James Halstead plc., Shaw Industries Group Inc., Beaulieu International Group, J+J Flooring Group, Roppe Holding Company, Burke Industries Inc., Flexible Steel Lacing Company., Altro Limited, Karndean Designflooring, Parterre Flooring Systems, Crossville Inc., American Biltrite Inc., Johnsonite Inc.
What Are the Key Trends Defining the Commercial Flooring Market Size?
Companies in the market are creating innovative products like luxury vinyl tile (LVT) to meet rising demand. In October 2022, Gerflor Group launched a new range of LVT aimed at architects and specifiers, offering various design options and fitting technologies, making it suitable for diverse commercial applications.
Global Commercial Flooring Market Segmentation
The commercial flooring market covered in this report is segmented –
1) By Product: Soft Covering Flooring, Resilient Flooring, Non-Resilient Flooring, Seamless Flooring, Wood and Laminate
2) By Distribution Channel: Retail, Wholesale and Distributor Business Trend
3) By Application: Healthcare, Education, Hospitality, Retail, Public Buildings, Other Applications
Geographical Highlights: North America Leading Commercial Flooring Market
North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Commercial Flooring Market Overview: Definition and Scope
Commercial flooring is a durable material made from both natural and synthetic polymers, increasingly used in various settings due to its innovative design and functionality.
The Commercial Flooring Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Commercial Flooring Market Report: Trends, Opportunities, Strategies, and More
The Commercial Flooring Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into commercial flooring market size, commercial flooring market drivers and trends, commercial flooring market major players, commercial flooring competitors' revenues, commercial flooring market positioning, and commercial flooring market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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