The Global Home Furnishings And Floor Coverings Market size is projected to grow at a CAGR of 4.2% from 2021 to 2028. The demand for home furnishings and floor coverings will be fueled by the increasing population and disposable income in emerging economies across the globe, especially China and India. North America currently dominates the global market with its share accounting for 39% of total revenue generated in 2018.
Home Furnishings are the products that a household or apartment will use for its living, personal comfort, and enjoyment. This includes furniture such as sofas, tables, and chairs; lighting fixtures like lamps and chandeliers; housewares like dishware, cookware, glasses, and many other items to furnish their home. Floor Coverings can be of different types including carpets, rugs (both natural fibers), hardwood flooring, etc. Its scope may include upholstery fabrics used in furnishing pieces such as couches or armchairs but could also encompass all sorts of wall coverings from wallpaper to paper-based melamine panels on ceilings.
Home furnishings are used to decorate the interior of a house, such as sofas. They can be made out of different materials like fabric, wood, or metal. Floor coverings refer to floor surfaces that cover an area on which people walk. The main types of floors available are carpet, parquet, and laminate flooring. Carpet is most commonly used because it provides sound reduction and insulation from noise; however, carpets must be replaced every few years due to wear-and-tear or dirt buildup. Tiles come in various shapes (square tiles) sizes (twelve by twelve-inch square tiles). It has a very low life expectancy compared to other floor coverings.
On the basis of Type, the market is segmented into Home furnishings and Floor coverings.
A home furnishing is any movable object that has been designed for use in a private household. Furnishings are generally defined as tangible goods including furniture, floor coverings, and curtains. Some furnishings such as windows (window dresser) or doors (door frame), even if not permanent parts of the structure itself, may be considered part of the house's interior decoration because they have aesthetic value to people living there. These objects create a sense of space and comfort by providing an appropriate background for everyday life. In order to function well, many types require more than one person’s input: design professionals like architects and designers; manufacturers who specialize in certain materials; artisans who work with wood, stone, or metals on their own.
Floor coverings are materials laid on the floor for decoration or protection. The term broadly covers carpets, rugs, and mats of various thicknesses and types; linoleum; vinyl sheeting (to protect wood floors); carpet tiles that can be arranged in many patterns; stone, marble, granite, or slate tiles (in bathrooms) to make a mosaic design patterned with circles, squares or other shapes. In addition to protecting against water damage from rainwater leaking through roof gutters into buildings during storms as well as trapping heat inside when installed over concrete floor slabs in winter months.
On the basis of Application, the market is segmented into Household and Commercial. The commercial segment is expected to be the fastest-growing segment of the home furnishings and floor coverings market. The Household market includes the supply of home furnishings to households. This segment is sub-segmented into furniture, carpets/rugs, and floor coverings which are used in homes for various purposes such as furnishing, flooring, or decoration.
Carpets/rugs: Carpet refers to a woven cloth that covers the surface of a room's floors like an area rug; a mat made from natural fibers (e.g., wool) or synthetic materials often with no backing on one side; rugs are typically smaller than carpets but larger than mats, usually measuring anywhere between 60 cm x 50 cm up to 120cm x 180cm. FLoorcovering refers to any materials to the covering of a floor with material such as carpet, linoleum, or wood for decoration.
Shower curtains: Showers are an important part of bathrooms and toilet rooms in any private household because showers usually use water from mains supply systems which are cooled by water heaters. In general, shower entrances offer privacy while showerheads provide a flow of warm/cold and clean/dirty water on demand without the need to fill up tubs with hot tap water each time. A curtain is usually used in front and around it so that one can take a bath or shower at their own discretion.
On the basis of Region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. In this region, the leading countries are China, Japan, and India as they account for more than 78% of the total population in Asia. Also, the economic development is quite high in these three countries as compared to other Asian countries which can be seen with their GDP per Capita (PPP).
North America was the leading region owing to the presence of a large number of retailers for home furnishings products as well as high-income population combined with strong demographic profile leading people towards purchasing durable goods like kitchen appliances or carpets that are expensive in other regions around it. Europe leads with a share of over 33% due to its high-income population combined with a strong demographic profile leading people towards purchasing durable goods like kitchen appliances or flooring materials like carpets that are more expensive than other regions around it.
The global market for home furnishings and floor coverings is expected to increase, primarily driven by population growth in emerging economies. In addition to the growing middle class worldwide (increasing demand), other factors driving this industry are rapid urbanization, which leads to a need for better living accommodations; environmental awareness; increasing disposable income of consumers in developing countries with an expanding middle-class base; and changing lifestyles that are leading people towards more indoor activities. These factors have led to higher spending on furniture and accessories while also providing opportunities for innovation among suppliers. The Asia-Pacific region will experience significant growth during the forecast period due to its large populations as well as rising discretionary incomes from increased participation in the formal workforce coupled with low initial investment requirements. The U.S., China, Indonesia, and Brazil are the top four countries in terms of total furniture spending as a percentage of GDP among developing markets.
Up Market Research published a new report titled “Home Furnishings and Floor Coverings Market research report which is segmented by Types (Home Furnishings, Floor Coverings), By Applications (Household, Commercial), By Players/Companies IKEA, Ashley Furniture Industries, Shaw Industries, Mohawk Industries, Milliken”.
|Report Attributes||Report Details|
|Report Title||Home Furnishings and Floor Coverings Market Research Report|
|By Type||Home Furnishings, Floor Coverings|
|By Application||Household, Commercial|
|By Companies||IKEA, Ashley Furniture Industries, Shaw Industries, Mohawk Industries, Milliken|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||247|
|Number of Tables & Figures||173|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Home Furnishings, Floor Coverings and By Application Household, Commercial.
Some of the companies that are profiled in this report are:
Home Furnishings and Floor Coverings Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Home Furnishings and Floor Coverings Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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