Wood Flooring Market Insight | Share Growing Rapidly with Recent Trends, Development, Revenue, Demand and Forecast
Market Highlights:
The tremendous growth of the commercial sector and the demand for
innovative ways to design commercial buildings is projected to propel the
demand for wood flooring, globally. Moreover, the increasing investments in the
commercial real estate and the rapid expansion of the tourism and hospitality
industries are some of the factors that are anticipated to drive the global
wood flooring market insight. Additionally, the demand for eco-friendly and
lightweight floor coverings are likely to drive the growth of the global wood
flooring market. The rapid construction of commercial and residential buildings
in emerging countries, such as China, India, and South Korea, is one of the
major factors driving the global wood flooring market. Manufacturers in the
market are taking advantage of the opportunities in the global market by
adopting key strategies, such as investments and regional expansions, to
increase their market share. However, stringent regulations on manufacturing of
wood flooring products are expected to be a threat to manufacturers.
Asia-Pacific is anticipated to witness the highest growth in the global Wood
Flooring Market Insight during the forecast period: MRFR
Geographically, the global wood flooring market has been segmented into
North America, Europe, Asia-Pacific, and the rest of the world. Asia-Pacific
held the largest global market share in 2018, which is expected to exhibit the
highest CAGR of around 4.6%, owing to the growing construction industry coupled
with increasing consumer spending on interior designing. China has emerged as a
lucrative market in this region, owing to the presence of a vast customer base.
The residential application segment is expected to account for the
largest market share in the global wood flooring market during the forecast
period: MRFR
The residential application segment accounted for the largest market
share of around 45% in the global wood flooring market. This can be attributed
to the widespread use of wood based floorings in residential buildings mainly
in developing countries, such as India, China, and Brazil.
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Scope of the Report:
This study provides an overview of the global wood flooring market,
tracking two market segments across four geographic regions. The report studies
key players and provides a five-year annual trend analysis that highlights
market size, volume, and share for North America, Europe, Asia-Pacific, and the
rest of the world (RoW). The report also provides a forecast, which focuses on
the market opportunities for the next five years for each region. The scope of
the study segments the global wood flooring market by product, application, and
region.
By Product:
- Solid Wood
- Red Oak
- White Oak
- Maple
- Others
- Engineered Wood
By Application:
- Residential
- Commercial
- Industrial
By Region:
- North America
- Asia-Pacific
- Europe
- Rest of the World
Key Players:
Some of the prominent players in the global wood flooring market are
Wickes Ltd (US), Home Legend, LLC, the Armstrong Flooring, Inc. (US), Shaw
Industries Group, Inc. (US), Q.E.P. Co., Inc., Mannington Mills, Inc. (US),
Mohawk Industries (US), Pergo (US), Somerset Hardwood Flooring, and Provenza
Floors, Inc.
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