The global commercial flooring market size reached US$ 71.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 93.6 Billion by 2028, exhibiting a growth rate (CAGR) of 4.45% during 2023-2028.
Commercial flooring is designed to offer high strength and durability to withstand the wear and tear caused by heavy objects, such as business equipment and furniture, in commercial spaces. It is resistant to moisture, rotting and bubbling, which makes it last long with little maintenance. As a result, it finds extensive applications in the education, healthcare, retail, and hospitality sectors. At present, there is a rise in the demand for isolated homes and offices among the masses, which is increasing the demand for commercial flooring across the globe.
Commercial Flooring Market Trends:
Governments of several countries are extensively investing in infrastructure development, especially in non-private structures. This, along with the burgeoning construction industry due to the inflating per capita income, changing lifestyles of individuals and the growing global population, represents one of the key factors driving the market. Moreover, the rising trend of green buildings, which reduce consumption of energy and improve indoor air quality, is propelling the growth of the market. In addition, there is an increase in the demand for lightweight and comfortable floor covers, including wood, fired tiles, and rugs that limit the emission of volatile organic compounds (VOCs). This, coupled with product innovations that reduce hassle during installation, is offering lucrative growth opportunities to industry investors. Besides this, key market players are offering online services, such as advanced catalogs and virtual assistants, to attract consumers. They are also focusing on upgrading the quality of materials and replacing conventional materials with improved variants, which is bolstering the market growth. Additionally, the growing awareness about cost-effective and eco-friendly flooring materials, such as glass, bamboo, linoleum, polyester, and reclaimed hardwood, is positively influencing the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global commercial flooring market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product and application.
Breakup by Product:
- Soft Coverings
- Resilient Flooring
- Non-resilient Flooring
- Seamless Flooring
- Wood and Laminates
Breakup by Application:
- Commercial Buildings
- Leisure and Hospitality
- Public Buildings
Breakup by Region:
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Armstrong Flooring Inc., Forbo Holding AG, Gerflor, Interface Inc., IVC Group (Mohawk Industries Inc.), James Halstead PLC, LX Hausys, Mannington Mills Inc., Milliken & Company, NOX Corporation and RPM International Inc.
|Base Year of the Analysis
||Product, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Armstrong Flooring Inc., Forbo Holding AG, Gerflor, Interface Inc., IVC Group (Mohawk Industries Inc.), James Halstead PLC, LX Hausys, Mannington Mills Inc., Milliken & Company, NOX Corporation and RPM International Inc.
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