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Commercial Flooring Market Report 2024: Strategies And Recent Developments | Mannington Mills Inc., Amtico International Inc., Mohawk Industries Inc.,
Commercial Flooring Market Size
The Business Research Company offers in-depth market insights through Commercial Flooring Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The commercial flooring market size has grown strongly in recent years. It will grow from $62.52 billion in 2023 to $66.33 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to increased commercial construction projects, growth in design trends and aesthetics, increased demand for maintenance and durability, increased environmental and sustainability concerns, increased need for renovation and replacement needs
.
The commercial flooring market size is expected to see strong growth in the next few years. It will grow to $84.34 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to circular economy practices, emerging market demand, growing need for resilient and low-maintenance flooring, safety and slip resistance requirements, growing real estate
. Major trends in the forecast period include flooring material innovation, advanced flooring installation methods, technological advancements, innovative solutions, and strategic collaborations.
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Market Segmentation:
The main types of products in commercial flooring are soft covering flooring, resilient flooring, non-resilient flooring, seamless flooring, and wood and laminate. Soft covering flooring is a secondary flooring that is installed over hard flooring. The different distribution channels involved are retail, and wholesale and distributor business trends and are used for healthcare, education, hospitality, retail, public buildings, and other applications.
Major Driver - The Impact Of Rapid Urbanization On The Commercial Flooring Market
Rapid urbanization is driving the growth of the commercial flooring market going forward. Urbanization refers to the shift of population from the countryside to the cities. This shift in population has resulted in the added requirement for housing and commercial businesses that have created an opportunity for increasing construction, thereby in turn driving the commercial flooring market. For instance, according to a report by Addis Ababa University Ethiopian Institute of Architecture, Building Construction, and City Development, an Ethiopia-based university, the global urban population is projected to grow by 6.3 billion in 2050. Furthermore, according to the report titled World Cities Report 2022 published by the United Nations Human Settlement Programme, a Kenya-based body of the United Nations, presently urban areas are home to 55% of the world's population, and that figure is expected to grow to 68% by 2050. Therefore, the rise in urbanization drives the hook lifts and skips loaders market growth.
Competitive Landscape:
Major companies operating in the commercial flooring market include Mannington Mills Inc., Amtico International Inc., Mohawk Industries Inc., Armstrong Flooring Inc., Flowcrete Group Ltd., Forbo Holding AG, Interface Inc., Gerflor SAS, Hanwha Group, Congoleum Corporation, NOX Corporation, Milliken & Company, LX Hausys, Tarkett S.A., Nora Systems Inc, James Halstead plc., Shaw Industries Group Inc., Beaulieu International Group, J+J Flooring Group, Roppe Holding Company, Burke Industries Inc., Flexible Steel Lacing Company., Altro Limited, Karndean Designflooring, Parterre Flooring Systems, Crossville Inc., American Biltrite Inc., Johnsonite Inc.
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Top Trend - Innovations In Commercial Flooring Products To Meet Evolving Consumer Needs
Product innovation has emerged as a key trend gaining popularity in the commercial flooring market. Offering innovative products enables companies to remain relevant in their markets while also growing and improving over time. Major companies operating in the commercial flooring market are focused on offering innovative products to meet consumer demand. For instance, Welspun Flooring, an India-based flooring manufacturer for commercial and domestic use launched an anti-viral range of flooring solutions. This flooring comes with a special coating of silver ion and titanium oxide that inhibits the growth of the virus by 99.68%, including the COVID-19 virus. Unique features of the flooring also include anti-bacterial, anti-fungal, and anti-microbial qualities. The anti-microbial layer shields the flooring against stains and discoloration brought on by bacteria and fungi, as well as the undesirable odour in carpet tiles. With this process, the products are additionally protected from microorganisms including home dust mites, algae, and fungi. It actively suppresses the growth of microorganisms inside items.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Commercial Flooring Market Characteristics
3. Commercial Flooring Market Trends And Strategies
4. Commercial Flooring Market - Macro Economic Scenario
5. Commercial Flooring Market Size And Growth
…..
27. Commercial Flooring Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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