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April 15, 2008
Global Carpets Market to Reach $23.9 Billion by 2010, According to New Report by Global Industry Analysts, Inc.
Carpet industry is increasingly leveraging the ergonomic benefits provided by carpets such as lower fatigue while standing/walking, and increased safety due to reduced incidence of falls and injuries. This guided choice for floor covering is emerging as the main propellant for the industry's sales. While the traditional markets of United States and Europe continue to dominate the global scenario, the emerging markets of Eastern Europe and Asia are projected to drive future growth.
San Jose, California (PRWEB) April 15, 2008 -- World carpets (wall-to-wall) market is forecast to post sales of $23.9 billion by 2010. Construction industry is the lead indicator of growth in the carpet industry, with residential sector accounting for a large share of new wall-to-wall carpets purchased. Factors such as construction frequency, house renovation, and consumer expenditure on durable goods influence the growth of carpet industry. Consumers and businesses tend to defer the purchase of goods such as carpets during adverse economic conditions, which significantly affects the revenue generation capabilities of the industry.
Tufted carpets (wall-to-wall) dominate the global sales scenario, with a share in excess of 88% for 2008, as stated in a recent report published by Global Industry Analysts, Inc. However, the woven carpets market is projected to be the fastest growing segment with a CAGR of 2.5% over 2000-2010. Faced with adverse market conditions, manufacturers are developing innovative products that incorporate new designs, materials and textures, to encourage carpet purchases among consumers. Besides, the growing consumer awareness about environment friendly products has contributed to the higher demand for products made from natural materials such as wool.
United States and Europe are key markets in the global carpets (wall-to-wall) market. In the United States, Tufted carpets represents the leading segment capturing a share of 88% in 2008. The United States is characterized by mature conditions, which has paved the way for market consolidation. A slow down in the residential construction activities coupled with the growing trend towards outsourcing has dampened growth in the overall market. Emerging markets of Eastern Europe, China and other Asian countries have emerged as potential revenue generators for the market. Accordingly, the commercial carpets industry is shifting frontiers to these high growth markets, which are witnessing a surge in commercial construction activities.
These and other market data and trends are presented in "Carpets (Wall-to-Wall): A Global Strategic Business Report" published by Global Industry Analysts, Inc. The report discusses the trends, issues, demand forecasts, and activities that affect the industry. The carpets market is analyzed in US$ million by the following geographic regions -- United States, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East, and Latin America.
Dominant global forces profiled in the report include Allied Carpets, Beaulieu of America, Costikyan Carpets, Interface Inc., Mohawk Industries, Shaw Industries Inc., Thomas Industries LLC and Victoria Carpets Pty. Ltd. The study enumerates recent developments, mergers, acquisitions, and other strategic industry activities.
For more details about this research report, please visit http://www.strategyr.com/Carpets_Wall_to_Wall_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
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Posted by Industrial-Manufacturing at April 15, 2008 12:56 AM