Wood Flooring Market Size was valued at USD 47.8 billion in 2021. The wood flooring market industry is projected to grow from USD 51.05 Billion in 2022 to USD 80.90 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.80% during the forecast period (2022 - 2030). Increasing construction activities in developing countries, and many benefits of wood flooring are the key market drivers supports the wood flooring market growth during the forecast period.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Due to the limitations imposed by many governments, particularly on outdoor and team-based athletic events, the spread of coronavirus has drastically reduced sporting activity. People have turned to indoor sports like badminton, tennis, basketball, volleyball, and squash to satisfy the desire for an active lifestyle and keep a healthy profile. These sporting venues need flooring materials with strong impact resistance and moisture resistance. Wooden floors are a fantastic choice for use in indoor sporting domes and stadiums since they not only satisfy these requirements but also have a very nice appearance. Leisure activities including bowling, shooting, and futsal have exploded in popularity across the globe due to the growing purchasing power of the public. Thus, the demand for flooring made of wood is increasing.
Additionally, the number of indoor sports facilities in the level are increasing year by year which is mentioned in the below graph. According to the U.S. officials after the COVID-19 pandemic the sports complexes are increases due to adoption of sports and healthy lifestyle by individuals. Therefore, such developments for sports complexes are support the growth of wood flooring market CAGR across the globe in recent years.
Figure 1: Number of Indoor Sports Facilities in the U.S.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Furthermore, the residential building sector is forecast to grow as urbanization accelerates, which is anticipated to boost consumer demand. By 2030, it is anticipated that more than 50% of the population in Tamil Nadu, Maharashtra, Karnataka, Gujarat, and Punjab will live in urban areas.
However, to cater the demand there has been significant advances in the wood flooring. For instance, there has been a number of inaugurations of indoor sports stadiums is another factor driving the growth of the wood flooring market revenue.
The  wood flooring market segmentation, based on product, includes solid wood, and engineered wood. The engineered wood segment held the majority share in 2021 contribution to around 60-70 in respect to the  wood flooring market revenue. Due to the benefits it offers, engineered wood is expected to dominate the market. Engineered wood is less susceptible to swelling and contracting as a result of changes in humidity and temperature. Additionally, it is within the price range for a sizable residential customer base and adds visual appeal wherever it is installed. The decking and cladding industries frequently employ engineered wood because it offers advanced and improved abrasion resistance, dimensional precision, and reliability attributes. Along with these elements, the most recent technological developments are assisting in improving designing and printing procedures to give the flooring a realistic appearance.
December 2022:Â Maverick Design, Wedgewood Homes' multi-award-winning in-house design and creative firm, today announced it will offer its approachable, high-level design knowledge to customers across the nation. With a focus on sustainability, rehabilitating homes, and celebrating old architecture, Maverick hopes to assist others in realising the same vision it has developed for Wedgwood.
The  wood flooring market segmentation, based on application, includes residential, commercial, and industrial. The residential segment dominated the  wood flooring market data in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. The element of interiors that interacts with inhabitants the most and takes up the most space is the flooring. Through the use of diverse color and materials, wood flooring is employed in numerous interior designs to produce different aesthetic trends. Wood floors may make a room feel softer, provide depth to the visual layers, and give our feet a chance to experience the comfortable wood grain.
Wood flooring is easier to maintain and less likely to sustain harm. The cost of maintenance and repair will probably decline over time. Additionally, hardwood floors are extremely durable and can last for many generations; as a result, they are a cost-effective option for flooring. Hence, rising use of wood flooring positively impacts the market growth.
Figure 2: Â Wood Flooring Market, by Application, 2021 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Additionally, by 2030, it is anticipated that the worldwide residential construction business will generate US$ 15.5 trillion in revenue. In 2021, China, the United States, and India together accounted for 57% of the  sector. In comparison to China, the U.S. construction industry is predicted to expand quickly during the next 15 years. The southern states of the U.S. are expected to have significant growth in the construction industry.
By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America wood flooring market accounted for USD 20.64 billion in 2021 and is expected to exhibit a 43.20% CAGR growth during the study period. This is attributed to the growing residential construction activities with the adoption of wood flooring across the region.
Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: Â WOOD FLOORING MARKET SHARE BY REGION 2021 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Asia-Pacific wood flooring market is expected to grow at the fastest CAGR from 2022 to 2030. This is due to increased population, expanding projects in India, China, and other Asia-Pacific countries. Moreover, China wood flooring market held the largest market share, and the India wood flooring market was the fastest growing market in the Asia-Pacific region.
North America wood flooring market accounts for the largest market share due to the availability of many big giant companies, and the world’s most costly residential real estate industry is present in the United States. Further, the United States wood flooring market held the largest market share, and the Canada wood flooring market was the fastest growing market in the North American region.
Major market players are spending a lot of money on expansion to increase their footprints in the  level, which will help the wood flooring market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the wood flooring industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
One of the primary business strategies adopted by manufacturers in the  wood flooring industry to offer attractive designs to the customers and expand the market sector is to manufacture locally to reduce operating costs. The wood flooring market major player such as The Armstrong Flooring Inc. (US), Mannington Mills Inc. (US), Mohawk Industries (US), Pergo (US), Shaw Industries Group Inc. (US), E.P. Co.Inc., Wickes Ltd (US), Home Legend LLC, Somerset Hardwood Flooring, Provenza Floors Inc., and others are working to expand the wood flooring industry demand by investing in research and development activities.
One of the biggest flooring firms in the world, Mohawk Industries, Inc., was established in 1988 and is headquartered in Georgia, United States. For both home and commercial applications, they offer flooring products. A broad variety of flooring items are available from them, such as ceramic tile, carpet for homes and businesses, rugs, laminate flooring, luxury vinyl tile, sheet vinyl, wood flooring, and countertops. For instance, in June 2022, Mohawk Industries, Inc. disclosed that it has reached a deal to acquire Grupo Industrial Saltillo's (GIS) Vitromex ceramic tile business for around $293 million in cash.
Also, AHF, LLC is a 2004-founded American business that specializes in hardwood flooring, product research, manufacturing, and servicing. They carry the Bruce, Hartco, and Homerwood wood flooring brands. Under the trademarks Parterre, Armstrong Flooring, and AHF Contract, they also offer commercial flooring services. The business runs nine production sites in total, eight of which are in the US and one in Cambodia. For instance, in July 2022, AHF Products stated that it has completed the acquisition of a number of assets from Armstrong Flooring, Inc., including the licence for the use of the Armstrong Flooring brand name and three U.S. manufacturing plants in Kankakee, Illinois, Lancaster, and Beech Creek, Pennsylvania.
May 2022: Somerset Hardwood Flooring, a vertically integrated forest products business with headquarters in Somerset, Kentucky, was purchased by Swiss-based Bauwerk Group AG. According to estimates, the acquisition will help Bauwerk Group AG strengthen its position in the North American flooring market and increase its  image. With a solid presence in the necessary sales channels, Somerset Hardwood Flooring has a well-established brand and market position in the United States.
April 2022:Â The Blanchon Group purchased RIGO, a well-known business that caters to professional clients and specialises in the design and production of wood finishing products and paints for historic buildings. The Blanchon Group made this acquisition as part of its ambition to expand internationally and establish itself as a leader in Europe for indoor and outdoor wood surfaces, vinyl, and wood flooring protection, maintenance, refurbishment, and decoration. Skylt, Step, Royl, Toplin, and Skyn are some of the company's top product brands.
| Report Attribute/Metric | Details |
| Market Size 2021 | USD 47.8 billion |
| Market Size 2022 | USD 51.05 billion |
| Market Size 2030 | USD 80.90 billion |
| Compound Annual Growth Rate (CAGR) | 6.80% (2022-2030) |
| Base Year | 2021 |
| Market Forecast Period | 2022-2030 |
| Historical Data | 2018 & 2020 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | The Armstrong Flooring Inc. (US), Mannington Mills Inc. (US), Mohawk Industries (US), Pergo (US), Shaw Industries Group Inc. (US), E.P. Co.Inc., Wickes Ltd (US), Home Legend LLC, Somerset Hardwood Flooring, and Provenza Floors Inc. |
| Key Market Opportunities | Rising preference of indoor sports activities |
| Key Market Dynamics | Rising construction activities throughout the world Key players are developing the attracting designs to the customers |
Frequently Asked Questions (FAQ) :
The wood flooring market size was valued at USD 47.80 Billion in 2021.
The market is projected to grow at a CAGR of 6.80% during the forecast period, 2022-2030.
The residential segment will lead the wood flooring market.
North America had the largest share in the market
The key players in the market are The Armstrong Flooring Inc. (US), Mannington Mills Inc. (US), Mohawk Industries (US), Pergo (US), Shaw Industries Group Inc. (US), E.P. Co.Inc., Wickes Ltd (US), Home Legend LLC, Somerset Hardwood Flooring, and Provenza Floors Inc.
The engineered wood flooring category dominated the market in 2021.
The residential segment had the largest share in the market.
Research Analyst Level II I have about two years of experience working in the consumer goods and retail industries and i am a biotech graduate.a tech-savvy analytically focused professional with a strong capabilities in identification, concept generation, and strategy evaluation. i can produce data-driven solutions while fusing unusual viewpoints with original concepts. i have been extensively working on business case studies, competitive & comparative analyses, and strategic reports. my primary areas of experience include client management, financial analysis, supply chain evaluation, market entry strategy evaluation, and estimating and forecasting market size.
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