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Report
North America Area Rugs Market Forecast to 2028 - Regional Analysis - by Type (Wool, Nylon, Synthetic Fibers, and Others) and End-Use (Residential and Nonresidential)
Market Report I 2023-10-26 I 87 Pages I The Insight Partners
The North America area rugs market is expected to grow from US$ 4,334.60 million in 2023 to US$ 5,465.45 million by 2028. It is estimated to grow at a CAGR of 4.7% from 2023 to 2028.
Strong Growth of Residential Construction Sector Fuels North America Area Rugs Market
The residential construction sector in different countries across the region is experiencing strong growth due to the growing demand for housing in urban regions, the increasing infrastructural development activities, the rising population, and the surging disposable income of people. The growth in population has resulted in more requirements for space for accommodation, especially in tier 1 cities. Various drivers have led to a boom in the country's construction investment. In the US, more people are moving into cities, which has resulted in more homes being developed in cities in the country. In areas such as New York, Pennsylvania, and New Orleans, there is continued growth in the new home market. Further, various government bodies are investing in the development of the residential construction sector.
In the residential sector, area rugs are highly used to enhance home decor and give rooms a decorative look. Due to improved technologies, modern area rugs are blended with prints, photos, and graphics to showcase furniture and complement the look of a room. There is a growing demand for area rugs to decorate indoor and outdoor spaces in the residential sector. Thus, the strong growth of the residential construction sector in various countries across the region is driving the demand for area rugs.
North America Area Rugs Market Overview
The North America area rugs market is segmented into the US, Canada, and Mexico. In the region, rising construction and home decoration & renovation activities in residential and commercial projects drive the demand for area rugs as they are often used to enhance flooring aesthetics. Consumers in North America often spend on area rugs owing to their design benefits. Area rugs are merely a carpet, usually much smaller than the room's dimensions. They have a sound-dampening effect, and they help reduce noise. It plays a significant role in protecting floors from damage as furniture, pet claws, and other sharp or heavy objects can gouge deep, unsightly scratches into floors. Since area rugs are lightweight and portable, they're easy to remove anytime. Hence, awareness regarding the benefits of area rugs and rising spending on home aesthetics are leading factors fostering the North America area rugs market growth in North America. On May 17, 2023, the US Census Bureau and the US Department of Housing and Urban Development (HUD) jointly announced that in the US, 1,375,000 privately-owned housing construction projects were completed in April 2023, which grew from 1,361,000 in April 2023. Hence, the expanding residential construction industry in North America propels the demand for home decoration, remodeling, and renovation, further influencing the region's North America area rugs market growth.
According to the US Bureau of Economic Analysis, personal income in the US increased by US$ 80.1 billion in April 2023 as compared to March 2023. The increasing disposable income levels allow consumers to invest significantly in higher quality area rugs, leading to a rise in demand for premium and luxury products. Further, the growing consciousness regarding eco-friendly and sustainable home decor has allowed manufacturers to design area rugs made of recycled material or sustainable fibers. Integrating technology, such as smart sensors and interactive features, into area rugs will create opportunities for manufacturers by providing enhanced functionalities and user experiences. Additionally, the shift toward online shopping and direct-to-consumer sales channel allows manufacturers and retailers to reach a broader customer base and offer competitive prices, which bolsters the North America area rugs market in North America.
North America Area Rugs Market Revenue and Forecast to 2028 (US$ Million)
North America Area Rugs Market Segmentation
The North America area rugs market is segmented into type, end-use, and country.
Based on type, the North America area rugs market is segmented into wool, nylon, synthetic fibers, and others. The synthetic fibers segment held the largest share of the North America area rugs market in 2023.
Based on end-use, the North America area rugs market is segmented into residential and nonresidential. The residential segment held the largest share of the North America area rugs market in 2023.
Based on country, the North America area rugs market is segmented into the US, Canada, and Mexico. The US dominated the North America area rugs market in 2023.
Amer Rugs Inc, Capel Inc, Dalyn Rug Co, Faze Three Ltd, Golden Carpets Ltd, Nodi Handmade Rugs Ltd, Riztex USA Inc, and Sams International Inc are some of the leading companies operating in the North America area rugs market.
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Area Rugs Market, by Type
1.3.2 North America Area Rugs Market, by End Use
1.3.3 North America Area Rugs Market, by Country
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:
4. North America Area Rugs Market Landscape
4.1 North America Market Overview
4.2 North America PEST Analysis
4.3 Expert Opinion
5. North America Area Rugs Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Strong Growth of Residential Construction Sector
5.1.2 Increasing Use of Area Rugs in Interior Designs
5.2 Market Restraint
5.2.1 Availability of Substitute Products
5.3 Market Opportunity
5.3.1 New Product Launches and Product Innovations
5.4 Future Trend
5.4.1 Surging Demand for Area Rugs Made from Natural Fibers
5.5 Impact Analysis
6. Area Rugs- North America Market Analysis
6.1 North America Area Rugs Market Overview
6.2 North America Area Rugs Market -Revenue and Forecast to 2028 (US$ Million)
7. North America Area Rugs Market Analysis - By Type
7.1 Overview
7.2 North America Area Rugs Market, By Type (2022 and 2028)
7.3 Wool
7.3.1 Overview
7.3.2 Wool: North America Area Rugs Market - Revenue and Forecast to 2028 (US$ Million)
7.4 Nylon
7.4.1 Overview
7.4.2 Nylon: North America Area Rugs Market - Revenue and Forecast to 2028 (US$ Million)
7.5 Synthetic Fibers
7.5.1 Overview
7.5.2 Synthetic Fibers: North America Area Rugs Market - Revenue and Forecast to 2028 (US$ Million)
7.6 Others
7.6.1 Overview
7.6.2 Others: North America Area Rugs Market - Revenue and Forecast to 2028 (US$ Million)
8. North America Area Rugs Market Analysis - By End Use
8.1 Overview
8.2 North America Area Rugs Market, By End Use (2022 and 2028)
8.3 Residential
8.3.1 Overview
8.3.2 Residential: North America Area Rugs Market - Revenue and Forecast to 2028 (US$ Million)
8.4 Nonresidential
8.4.1 Overview
8.4.2 Nonresidential: North America Area Rugs Market - Revenue and Forecast to 2028 (US$ Million)
9. North America Area Rugs Market - Country Analysis
9.1 Overview
9.1.1 North America Area Rugs Market, by Key Country
9.1.1.1 US: North America Area Rugs Market -Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 US: North America Area Rugs Market, by Type
9.1.1.1.2 US: North America Area Rugs Market, by End Use
9.1.1.2 Canada: North America Area Rugs Market-Revenue and Forecast to 2028 (Kilo Tons)
9.1.1.2.1 Canada: North America Area Rugs Market, by Type
9.1.1.2.2 Canada: North America Area Rugs Market, by End Use
9.1.1.3 Mexico: North America Area Rugs Market-Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 Mexico: North America Area Rugs Market, by Type
9.1.1.3.2 Mexico: North America Area Rugs Market, by End Use
10. Industry Landscape
10.1 Overview
10.2 Market Initiative
10.3 New Product Development
11. Company Profiles
11.1 Dalyn Rug Co
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Sams International Inc
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Riztex USA Inc
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Amer Rugs Inc
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Capel Inc
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Nodi Handmade Rugs Ltd
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Faze Three Ltd
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Golden Carpets Ltd
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Glossary of Terms
LIST OF TABLES
Table 1. North America Area Rugs Market -Revenue and Forecast to 2028 (US$ Million)
Table 2. US: North America Area Rugs Market, by Type - Revenue and Forecast to 2028 (US$ Million)
Table 3. US: North America Area Rugs Market, by End Use - Revenue and Forecast to 2028 (US$ Million)
Table 4. Canada: North America Area Rugs Market, by Type - Revenue and Forecast to 2028 (US$ Million)
Table 5. Canada: North America Area Rugs Market, by End Use - Revenue and Forecast to 2028 (US$ Million)
Table 6. Mexico: North America Area Rugs Market, by Type - Revenue and Forecast to 2028 (US$ Million)
Table 7. Mexico: North America Area Rugs Market, by End Use - Revenue and Forecast to 2028 (US$ Million)
Table 8. Glossary of Terms, North America Area Rugs Market
LIST OF FIGURES
Figure 1. North America Area Rugs Market Segmentation
Figure 2. North America Area Rugs Market Segmentation - By Country
Figure 3. North America Area Rugs Market Overview
Figure 4. North America Area Rugs Market, By End Use
Figure 5. North America Area Rugs Market, by Country
Figure 6. North America - Pest Analysis
Figure 7. Expert Opinion
Figure 8. North America Area Rugs Market Impact Analysis of Drivers and Restraints
Figure 9. North America Area Rugs Market - Revenue and Forecast to 2028 (US$ Million)
Figure 10. North America Area Rugs Market Revenue Share, By Type (2022 and 2028)
Figure 11. Wool: North America Area Rugs Market - Revenue and Forecast To 2028 (US$ Million)
Figure 12. Nylon: North America Area Rugs Market - Revenue and Forecast To 2028 (US$ Million)
Figure 13. Synthetic Fibers: North America Area Rugs Market - Revenue and Forecast To 2028 (US$ Million)
Figure 14. Others: North America Area Rugs Market - Revenue and Forecast To 2028 (US$ Million)
Figure 15. North America Area Rugs Market Revenue Share, By End Use (2022 and 2028)
Figure 16. Residential: North America Area Rugs Market - Revenue and Forecast To 2028 (US$ Million)
Figure 17. Nonresidential: North America Area Rugs Market - Revenue and Forecast To 2028 (US$ Million)
Figure 18. North America Area Rugs Market, by Key Country- Revenue (2022) (US$ Mn)
Figure 19. North America Area Rugs Market Revenue Share, by Key Country (2022 and 2028)
Figure 20. US: North America Area Rugs Market -Revenue and Forecast to 2028 (US$ Million)
Figure 21. Canada: North America Area Rugs Market-Revenue and Forecast to 2028 (US$ Million)
Figure 22. Mexico: North America Area Rugs Market-Revenue and Forecast to 2028 (US$ Million)
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