The global luxury vinyl tiles flooring market size is expected to grow from $17.65 billion in 2021 to $19.94 billion in 2022 at a compound annual growth rate (CAGR) of 12.99%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The LVT flooring market is expected to reach $34.48 billion in 2026 at a CAGR of 14.67%.
What is the Global Luxury Vinyl Tiles (LVT) Flooring Market?
The luxury vinyl tiles (LVT) flooring market consists of sales of luxury vinyl tiles flooring by entities (organizations, sole traders, and partnerships) that refer to modular vinyl flooring in which tiles are laid out individually by using single sheets. The luxury vinyl tiles flooring is sustainable, easy to handle, durable, and acoustic. These are used to design the office space or the residential space to look like real wood.
Get a Sample of the global luxury vinyl tiles (LVT) flooring market report
https://www.thebusinessresearchcompany.com/sample.aspx?id=5630&type=smp
What drives the Global Luxury Vinyl Tiles (LVT) Flooring Market?
The high growth of the construction industry is expected to propel the growth of the luxury vinyl tiles flooring market. Luxury vinyl flooring is economical and more efficient than other floorings currently available in the market, and additional factors of LVT such as cost-efficient, lightweight, the requirement of low maintenance make them an ideal choice for flooring in the construction sector. For instance, according to the Office of National Statistics UK, the monthly construction output increased by 3.5% in volume in November 2021. Also, according to Invest India, an India-based national investment promotion and facilitation agency, the construction industry in India is expected to reach $1.4 trillion by 2025. Therefore, the high growth in the construction industry drives the luxury vinyl tiles flooring market.
Get the full global luxury vinyl tiles (LVT) flooring industry report here
https://www.thebusinessresearchcompany.com/report/luxury-vinyl-tiles-flooring-global-market-report
Global Luxury Vinyl Tiles (LVT) Flooring Market Segments
The global LVT flooring market is segmented:
By Type: Rigid LVT, Flexible LVT
By End-User: Residential, Non-Residential
By Geography: The regions covered in the luxury vinyl tiles (LVT) flooring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Luxury Vinyl Tiles (LVT) Flooring Global Market Report 2022 provides market size and growth forecasts for the global luxury vinyl tiles flooring market, global LVT flooring market share, luxury vinyl tiles flooring market segments and geographies, luxury vinyl tiles flooring market competitive landscape including leading competitors’ revenues, profiles and market shares. The LVT flooring market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Luxury Vinyl Tiles (LVT) Flooring Industry Players include Tarkett, Forbo, Armstrong, Shaw Industries, Inc., Gerflor, Interface, Mannington Mills, Inc., Mohawk Industries, Parador GmbH, Polyflor, Metroflor, Milliken, LG Hausys, and James Halstead PLC. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
