Wood Flooring Market Trends

  • Report ID: 4515
  • Published Date: Oct 11, 2024
  • Report Format: PDF, PPT

Wood Flooring Market Trends

Growth Drivers

  • Burgeoning Population Across the World - The rising population has increased the demand the building construction for day-to-day activities. Thus, the increased demand of construction processes is further anticipated to fuel the demand of wooden flooring and expand its market size in the forecast period. As per World Bank, the total population in the world stood at 7.76 billion in 2021, up from 7.09 billion in 2012.
  • High Demand of Residential Construction – With growing population, the ability to house the growing numbers is also increasing, as it should. For instance, according to the United States Census Bureau, stated that there were around 142,153,010 housing units in the U.S. as of June 2021.
  • Rapid Development in Real Estate Sector – The real estate sector is expected to show signs of recovery post-pandemic. As per recent estimates, the revenue generation of real estate companies worldwide stood at approximately USD 10 billion in 2021.
  • Development of Commercial Buildings –Buildings Energy Consumption Survey (CBECS), estimated that there were approximately 5.9 million U.S. commercial buildings in 2018. Further, the number of commercial buildings increased by 6% since the CBECS was last conducted in 2012.
  • Presence of Buildings Across the World – As per data in 2020, there were 350,000 industrial buildings and 240,000 military buildings in the United States.

Challenges

  • Availability of Other Lower-Priced Substitutes - Making better products more affordable is the biggest problem facing businesses in the wooden flooring industry. People sometimes are forced to choose substitutes such as plastic sheet flooring due to the high cost of wooden flooring.
  • Low-resistance towards Altercations
  • Stringent Governmental Rules Regarding Environmental Protection

Wood Flooring Market: Key Insights

Base Year

2022

Forecast Year

2023-2033

CAGR

~ 6%

Base Year Market Size (2022)

~ USD 45 Billion

Forecast Year Market Size (2033)

~ USD 90 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)

Base Year

2024

Forecast Year

2025-2037

CAGR

6.5%

Base Year Market Size (2024)

USD 51.15 billion

Forecast Year Market Size (2037)

USD 114.22 billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)

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Browse Key Market Insights with Data Illustration:


Author Credits:  Rajrani Baghel


  • Report ID: 4515
  • Published Date: Oct 11, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of wood flooring is evaluated at USD 53.77 billion.

The wood flooring market size was valued at USD 51.15 billion in 2024 and is likely to exceed USD 114.22 billion by the end of 2037, registering over 6.5% CAGR during the forecast period i.e., between 2025-2037. The expansion of construction industry along with the rise in the construction of buildings and infrastructure will impel the market growth.

Asia Pacific is set to hold majority industry share by 2037, owing to rapid expansion of construction industry and presence of leading market key players in the region.

The major players in the market include B Gustaf Kähr, AHF, LLC., Mohawk Industries, Inc., Beaulieu International Group, Shaw Industries, Inc., Boral, LL Flooring, Inc., F. Junckers Industrier A/S, British Hardwoods, BARLINEK S.A.
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