Flooring Services

Global Flooring Services Market Outlook

• The global flooring market is set to grow at a CAGR of 5.6 percent from 2020 to 2026, a decrease in 2020 compared to the previous forecast, due to the adverse effects of the Covid-19 crisis on the global flooring market, especially China
• The non-resilient segment is expected to grow at a CAGR of 6 percent from 2020 to 2026, owing to increased usage in industrial and commercial segments
• In 2019, the biggest share of more than 45 percent in the global flooring market value was attributed to APAC, followed by Europe, North America, LATAM, Middle East, and Africa

• The major flooring market trends include sustainability, waterproof flooring, type of flooring, change in manufacturing, material and designs.
• According to flooring market analysis, the cost breakdown percentage is
• Product: 35–40, Installation/Labor: 30–45, Logistics: 5–10, Maintenance: 5, Extended Warranty: 0–5, and Profit Margin: 10.
• Flooring industry outlook (2018): Global market size: $262.8 billion
• High Market Maturity Regions: North America, Western Europe and APAC
• Medium Market Maturity Regions: Middle East, LATAM, and Africa
• The Top Global Service Providers in the flooring market are Mohawk Industries,Tarkett, Armstrong Flooring Inc., and Shaw Industries Group, Inc.

Testing Methods in the Flooring market

• The most widely accepted standards have been set up by the American Society for Testing and Materials (ASTM International)
• ASTM standards are internationally followed for all kinds flooring products, along with other testing methods
• Various other standards and tests have been established by European Standard Associations, Japan Industrial Standards Committee, ISO, etc

Global Flooring Services Market: Global Scenario 

• The flooring market is expected to grow at a healthy rate of 6.5 percent CAGR, and the residential sector in both developed  and developing markets, especially North America and Europe, are the major users of flooring materials

Market Outlook 

• The global flooring market is expected to grow up to $450 billion by 2026. Increasing demand for innovative flooring solutions in commercial and industrial spaces and urbanization will be the major growth drivers of the flooring industry in the developed and developing economies

• The global market share of commercial flooring is estimated to grow at a CAGR of 6 percent between 2017 and 2025, with North America showing the highest growth among all other regions. APAC and Europe account for approximately 65 percent of the global flooring market 

• In 2017, the highest share of $118 billion in the global flooring market value is attributed to APAC, followed by Europe and North America

Global Flooring Services Market: Key Market Segments

Non-resilient flooring products are expected to dominate the flooring market from 2018 to 2022, with a market share of 74 percent of the total market in 2017. Vinyl & rubber flooring and laminates are picking up in usage, and these materials will face high demand in the near future

Market Outlook 

• Laminates and wood flooring are expected to grow at a CAGR of 7 percent between 2017 and 2025

• Demand for insulation is expected to provide a boost to the flooring industry in the coming years

• Non-resilient flooring segment accounted for around 74 percent of the total global flooring market in 2017

• Luxury vinyl tile is replacing vinyl sheets in the commercial sector, owing to its advanced properties and high usability. LVT is expected to grow at CAGR of 6 percent until 2024

• Vinyl & rubber flooring is expected to pick up in 2017, owing to its high cost efficiency and increased durability 

• Wood and carpet flooring are the most preferred kinds of flooring for retail store clients

• Several consumers in developed and developing countries are focusing on waterproof flooring. Therefore, there is an increasing demand for vinyl flooring combined with WPC as an effective solution in the coming years

Market Overview

According to the flooring industry market research, the global flooring market remains comparatively consolidated with fragmented local and regional markets. The market demand for sustainable flooring will increase the supplier negotiation power in markets, such as U.S., U.K., etc. Flooring market analysis shows that sustainable products, such as bamboo flooring, recycled concrete flooring, etc., are gaining popularity among the buyers. Cost-effective products available in the market are posing a threat to the global players. High penetration of online retail sales has dampened the demand in American, European & Chinese markets. The US and key Asian flooring market are competitive, as several regional wholesale distributors have entered the market. High initial capital investment by new entrants poses a huge barrier to new suppliers.

Why You Should Buy This Report

This flooring industry market research report provides insight into the flooring market trends, size, segmentation, flooring industry outlook and lists out the major drivers and constraints. It gives the Porter’s five force analysis of the major global flooring industry and provides the cost breakup for flooring. The flooring market research report details the supply landscape and gives the SWOT analysis of key suppliers like Armstrong Flooring, Inc., Tarkett, Shaw Industries Group, Inc., etc. This flooring market analysis report lists out the best sourcing practices.