ID: MRFR/CO/3317-HCR | 98 Pages | Author: Snehal Singh | June 2023
Hard Surface Flooring Market is projected to be worth USD 51,450 Million by 2030, registering a CAGR of 5.12% during the forecast period (2022 - 2030)
2022 - 2030
The hard surface floorings Market is expected to gain a market value of USD 51,450 Million by 2030 at a CAGR of 5.12% from 2022-2030. Flooring is a major part of the construction market. There are versatile uses of good flooring. The hard flooring consists of various materials. Cement, tiles, natural stone products, and other flooring materials come under the hard surface market. Several factors drive demand in the market.
Today, many prefer hard floors as they have long-term benefits. The growing preference of the customers for such floors is causing more growth. Further, the infrastructural developments in emerging economies are contributing to the growth of this market. India China and Japan are countries that have new constructions. The growing population and urbanization are the cause of such developments. Vinyl flooring segments have the highest shares among the users.
This type of floor is smooth in texture and hard in nature. The use of cushioning on the floors is growing more. People prefer rugs and soft clothes on the floor. All these factors drive overall demand for the market. Some of the non-resilient floorings are wood hard floor that is gaining more traction among the end-users. Renovations, complex building structures and commercial buildings rise overall growth prospects. All these are the factor that creates immense market value.
North America is a large region for the market. U.S. accounts for the largest share in North America. Developments in commercial and residential structures in the U.S., is expected to fuel the demand for hard surface flooring in the region. The region is governed by increase in construction activities in both private and commercial sectors. This drives the market for hard surface roofing in the construction sector. North America is followed by Europe and Rest of the World, including regions such as Middle East & Africa and South America.
For this study, the global hard surface flooring market has also been divided on the basis of products, and applications. On the basis of products, the market has been segmented as resilient flooring and non-resilient flooring. Resilient flooring includes products such as vinyl flooring, vinyl sheet, and rubber flooring. Non-resilient flooring includes seamless flooring, wood flooring, and laminate flooring while the resilient flooring segment is expected to lead the market due to rapid growth in vinyl flooring sub-segment. Vinyl flooring has gained popularity over the years due to increased aesthetic values in construction and changing consumer preferences. Based on applications, the market has been segmented as residential and non-residential. The residential segment accounted for the largest market share. Due to the increasing population and urbanization, there has been a shift in the population in the urbanized areas, especially in developing nations. This transition leads to the increasing demand for homes and residential complexes. This drives the demand of the hard surface flooring in this sector. Non-residential segment is projected to grow at the highest CAGR during the forecast period due to increased investment in new commercial constructions and renovation projects
The prominent players in the global hard surface flooring market include Mohawk Industries (U.S.), Armstrong World Industries, Inc. (U.S.), Mannington Mills Inc. (U.S.), Shaw Industries Group (U.S.), Beaulieu International Group (Belgium), Marazzi Group S.r.l (Italy), Berry Floor NV (Italy), Burke Industries (U.S.), Roppe Corporation (U.S.), Surface America (U.S.), Tarkett SAS (France), TOLI Corporation (Japan), and Windmöller Flooring Products WFP GmbH (Germany).Recent Development
Mullican flooring is a company that is a top manufacturer of hard floor surfaces. The company's partnership with Summit flooring will create installation and more supply in the company. This partnership will create more growth prospects in the country.
The Mullican flooring company the top manufacturer of hardwood floors launches new collections. These new collections will create more demand for the product in the global market. These new launches with exceptional finishes have a growing need among consumers.
Q.E.P. CO is launching a new range of hardwood floors and materials.
The report for global hard surface flooring Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
|Market Size||2030: USD 51,450 Million|
|CAGR||5.12% CAGR (2022-2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product and Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Mohawk Industries (U.S.), Armstrong World Industries, Inc. (U.S.), Mannington Mills Inc. (U.S.), Shaw Industries Group (U.S.), Beaulieu International Group (Belgium), Marazzi Group S.r.l (Italy), Berry Floor NV (Italy), Burke Industries (U.S.), Roppe Corporation (U.S.), Surface America (U.S.), Tarkett SAS (France), TOLI Corporation (Japan), and Windmöller Flooring Products WFP GmbH (Germany)|
|Key Market Opportunities||· Increasing up gradation, and renovation of the existing infrastructure · increased demand of decorative & colored flooring|
|Key Market Drivers||Increase in construction activities|
The hard surface flooring market is projected to grow at a 5.12% CAGR between 2022-2030.
The APAC region is expected to dominate the hard surface flooring market.
The residential segment will lead the hard surface flooring market.
Increase in construction activities and is the key factor driving the hard surface flooring market.
Notable players profiled in the hard surface flooring market include Windmöller Flooring Products WFP GmbH (Germany), TOLI Corporation (Japan), Tarkett SAS (France), Surface America (U.S.), Roppe Corporation (U.S.), Burke Industries (U.S.), Berry Floor NV (Italy), Marazzi Group S.r.l (Italy), Beaulieu International Group (Belgium), Shaw Industries Group (U.S.), Mannington Mills Inc. (U.S.), Armstrong World Industries, Inc. (U.S.), and Mohawk Industries (U.S.).
Key Questions Answered
Why Choose Market Research Future?