At 4.4% CAGR, the Europe Area Rugs Market is projected to be worth US$ 3,442.56 million by 2028, says Business Market Insights

According to Business Market Insights’ research, the Europe area rugs market was valued at US$ 2,777.04 million in 2023 and is expected to reach US$ 3,442.56 million by 2028, registering a CAGR of 4.4% from 2023 to 2028. Strong growth of residential construction sector and increasing use of area rugs in interior designs are the critical factors attributed to the Europe area rugs market expansion.

The players operating in the Europe area rugs market are focusing on adopting different strategies, such as investments in research and development activities and new product launches, to stand out as strong competitor in the market. Manufacturers are developing area rugs that meet increasing consumer demand for high-product quality and durability. With the growth in building remodeling, renovation, and residential and non-residential construction activities, manufacturers are also producing high-quality products to keep up with the growing consumer demand for area rugs. The area rugs will be designed for cutting-edge performance along with broadloom qualities and textures, with plush, thick piles and greater density. The new product launches and product innovations in the Europe area rugs market are expected to offer more lucrative opportunities for the market growth during the forecast period.

On the contrary, availability of substitute products hampers the Europe Area Rugs Market.  

Based on type, the Europe area rugs market is segmented into wool, nylon, synthetic fibers, and others. The synthetic fibers segment held 52.7% share of Europe Area Rugs Market in 2023, amassing US$ 1,464.08 million. It is projected to garner US$ 1,858.43 million by 2028 to expand at 4.9% CAGR during 2023–2028. 

Based on end-use, the Europe area rugs market is segmented into residential and nonresidential. The residential segment held 59.4% share of Europe Area Rugs Market in 2023, amassing US$ 1,648.90 million. It is projected to garner US$ 2,032.62 million by 2028 to expand at 4.3% CAGR during 2023–2028.

Based on country, the Europe area rugs market has been categorized into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Our regional analysis states that Germany captured 23.6% share of Europe Area Rugs Market in 2023. It was assessed at US$ 655.15 million in 2023 and is likely to hit US$ 819.97 million by 2028, exhibiting a CAGR of 4.6% during 2023–2028.      

Key players operating in the Europe area rugs market are Amer Rugs Inc, Faze Three Ltd, Golden Carpets Ltd, Nodi Handmade Rugs Ltd, Riviere Rugs Ltd, and Riztex USA Inc, among others. 

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