How Has The Hardwood Flooring Market Size Evolved In Recent Years?
The hardwood flooring market has seen considerable growth due to a variety of factors.
• The hardwood flooring industry has seen significant growth in the past few years. The value of this market will increase from $53.35 billion in 2024 to $56.32 billion in 2025, with a compound annual growth rate (CAGR) of 5.6%.
The expansion during the historical era can be linked to factors such as a surge in aesthetic preferences, boost in residential construction, durability and longevity of the product, growth in real estate and evolving architectural trends.
What Are The Estimated Market Size And Expected Annual Growth Rates For Global Hardwood Flooring Market?
The hardwood flooring market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the market size of hardwood flooring is anticipated to witness robust growth, escalating to $74.5 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 7.2%.
Factors contributing to the growth during the forecast period include sustainable sourcing, certification, an increasing elderly population, customization and personalization, luxury and premium segments, and the emergence of new markets. The key trends to look out for during this period include the use of engineered hardwood flooring, the incorporation of rare and unique wood species, the utilization of digital visualization tools, matte and low-gloss finishes as well as herringbone and chevron patterns.
Which Drivers Are Accelerating Growth In The Hardwood Flooring Market?
The surge in demand for elegant and aesthetic interiors from both domestic and commercial property customers is fueling the expansion of the hardwood flooring market. These customers are putting a greater emphasis on revamping interiors with a key focus on enhancing air purity, thermal comfort, the quality of indoor lighting, as well as the use of renewable and chemical-free materials. Based on a study from Pinterest, 60% of users rely on visual social networks when making decisions about home decoration purchases. This shift in customer tastes is predicted to escalate the use of hardwood flooring in interior design in numerous sectors worldwide.
What Are The Core Segments Of The Global Hardwood Flooring Market?
The hardwood flooring market covered in this report is segmented –
1) By Product Type: Solid Wood, Engineered Wood
2) By Raw Material: Red Oak, White Oak, Maple, Other Raw Materials
3) By Design Outlook: Plank, Strip, Parquet, Other Designs
4) By Distribution Channel: Offline Stores, Online Stores
Subsegments:
1) By Solid Wood: Oak, Maple, Cherry, Hickory, Walnut
2) By Engineered Wood: Multi-Layer Engineered Wood, Thin-Profile Engineered Wood, Specialty Engineered Wood
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Which Emerging Trends Are Reshaping The Hardwood Flooring Market Size?
Rapid progression in technology is becoming a prevalent trend within the hardwood flooring market. Producers in the hard flooring sector are unveiling pioneering solutions to provide robust hardwood flooring and materials that can withstand numerous exterior elements. For instance, in February 2022, Mannington Mills, Inc., an American company specializing in flooring solutions, introduced TimberPlus. TimberPlus is a hardwood flooring solution that guarantees effortless installation, budget-friendly operations, and minimal maintenance expenditure.
Who Are the Key Players in the Hardwood Flooring Market?
Major companies operating in the hardwood flooring market include:
• AHF Products
• Armstrong Flooring Inc.
• Beaulieu International Group
• BerryAlloc NV
• Bruce Evans Flooring LLC
• Classen Group
• Egger Group
• Formica Corporation
• Harris Wood Ltd.
• Anderson Group of Companies Ltd.
• Boral Ltd.
• Brumark Enterprises Inc.
• Duchateau LLC
• Eco Timber Ltd.
• Flooring Innovations Inc.
• Gerflor SAS
• Goodfellow Inc.
• Hartco Inc.
• Mohawk Industries Inc.
• Mannington Mills Inc.
• Home Legend LLC
• Somerset Hardwood Flooring Inc.
• Provenza Floors Inc.
• Shaw Industries Group Inc.
• Pergo LLC
• Mullican Flooring
• Mirage Floors
• Lauzon Distinctive Hardwood Flooring Inc.
• Wickham Hardwood Flooring
• Mercier Wood Flooring
• IndusParquet Indústria de Pisos Ltda
What are the Regional Insights into the Hardwood Flooring Market?
North America was the largest region in the hardwood flooring market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hardwood flooring market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
