The Floor Covering market is centered on the need to cover floors with certain materials that provide, first and foremost, a visually appealing aesthetic to a room while also adding comfort. This market focuses on parquet panels that are typically made from hardwood such as oak, maple, or cherry and are sold in various forms such as solid or engineered hardwood. Parquet panels are characterized by a focus on durability, natural beauty, and design versatility making it a popular choice among homeowners and designers.
The market comprises revenue and average revenue per capita data. Revenue refers to B2C sales and per capita figures take into account the whole population. Previously, this market included the Parquet Panel segment and Carpet & Rugs segment. The Carpet & Rugs segment now falls under our newly created Home Decor segment within the Furniture market. Therefore, this market only considers parquet panels but more segments will be added soon. For more information on the displayed data, click the info button on the right hand side of each box.
An increase in home renovation and improvement projects has led to a rise in demand for floor coverings, as homeowners look to update and improve their living spaces. A popular choice has been hardwood flooring due to its durability, longevity, and aesthetic appeal. The trend towards minimalism and a focus on natural materials has also played a role in driving sales of hardwood flooring.
The Covid-19 pandemic has had a significant impact on the floor covering segment. During the pandemic, many people spent more time at home and had more time to focus on home improvement projects, which increased demand for floor coverings. However, the pandemic also led to disruptions in the global supply chain, causing temporary shortages and affecting the availability and pricing of floor coverings. While the pandemic has created challenges for this industry, it has also created new opportunities and growth areas.
The outlook for the floor covering segment is positive. Hardwood flooring continues to be a popular choice for home renovation and improvement projects, and this trend is expected to persist. Additionally, there has been an increased interest in hardwood flooring, particularly in developing countries, where there is increasing demand for premium flooring products. These factors, along with continued investment in technology and sustainability, suggest that the outlook for the floor covering segment will remain positive in the coming years.
Data encompasses B2C enterprises. Figures are segmented by product type and consist of the following: Paint, Wallpaper & Supplies, Tools & Machines, Hardware and Building Materials, Lawn & Garden, Heating & Cooling, Bathroom Hardware, and Floor Covering.
Modeling approach / Market size:
Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as product value, import value, and export value to determine domestic supply. This data helps us to estimate the market size for each country individually.
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing. The main drivers are turnover indices, GDP per capita, and consumer spending per capita.
The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.