Global Commercial Flooring market report 2024, Forecast To 2033
29 Jan, 2024
The commercial flooring market has demonstrated strong growth, increasing from $62.52 billion in 2023 to $66.33 billion in 2024, indicating a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period is attributed to increased commercial construction projects, heightened design trends and aesthetics, increased demand for maintenance and durability, environmental and sustainability concerns, and the growing need for renovation and replacement. Looking ahead to 2028, the market is expected to experience strong growth, reaching $84.34 billion with a CAGR of 6.2%. The forecasted expansion is linked to circular economy practices, emerging market demand, the growing need for resilient and low-maintenance flooring, safety and slip resistance requirements, and the growing real estate market. Major trends include flooring material innovation, advanced flooring installation methods, technological advancements, innovative solutions, and strategic collaborations.
Global Commercial Flooring Market Key Driver
The commercial flooring market anticipates growth due to rapid urbanization globally. Urban areas are projected to house 68% of the world's population by 2050. The increasing construction demand from urbanization propels the commercial flooring market, fostering growth in the hook lifts and skips loaders market.
Get A Free Sample Of The Global Commercial Flooring Market ReportGlobal Commercial Flooring Market Segments
The global commercial flooring market covered in this report is segmented –
1) By Product: Soft Covering Flooring, Resilient Flooring, Non-Resilient Flooring, Seamless Flooring, Wood and Laminate
2) By Distribution Channel: Retail, Wholesale and Distributor Business Trend
3) By Application: Healthcare, Education, Hospitality, Retail, Public Buildings, Other Applications
By Geography: The regions covered in the Commercial Flooring market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
North Americawas the largest region in the commercial flooring market in 2023. Asia-Pacificis expected to be the fastest-growing region in the forecast period. The regions covered in the commercial flooring market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Major Commercial Flooring Industry Players
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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Commercial Flooring Market Overview
Commercial flooring is a durable flooring material made from a combination of natural and synthetic polymer materials. It’s found everywhere from hotel lobbies and office foyers to schools and hospitals. It is rapidly being adopted in more and more places due to its design and material innovations.
Commercial Flooring Global Market Report 2023 provides data on the global commercial flooring market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The commercial flooring market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.