Report : Europe Indoor Flooring Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Ceramic Tiles, Carpet, Vinyl Linoleum and Rubber, Wood and Laminate, and Others); End-user (Residential, and Non-Residential).
Ceramic Tiles segment has the Largest Share of Type in the Europe Indoor Flooring Market during 2021–2028
According to a new market research study on “Europe Indoor Flooring Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, End User and Country” is expected to reach US$ 44.74 billion by 2028 from US$ 33.14 billion in 2021. The market is estimated to grow at a CAGR of 4.4% from 2021 to 2028. The report provides trends prevailing in the Europe indoor flooring market along with the drivers and restraints pertaining to the market growth. The growth of this market is estimated to rising in number of commercial and residential construction projects and surge in product innovations and launches are the key factors driving the market growth. However, the market is expected to experience slow growth during the forecast period owing to stringent government regulations and high cost of installation and maintenance.
Due to the COVID-19 outbreak, Russia, UK, France, Italy, Spain, and Germany are some of the worst affected member states in the European region. Businesses in the region face severe economic difficulties as they had to suspend their operations or substantially reduce their activities. Due to business lockdowns, travel bans, and supply chain disruptions, the region experienced an economic slowdown in 2020 and, most likely, in 2021. According to world meter till 24th March 2021 there were 2,732,130, 4,319,128, 4,424,087, cases have been registered in Germany, UK, and France. The member states of Europe, such as Italy, Spain, and Germany, have implemented drastic measures and travel restrictions to limit the spread of coronavirus among its citizens. European countries represent a major market for indoor flooring adoption due to good wages of people. Since several European countries are in the phase of lockdowns, the installation of indoor floor got hampered. Covid-19 first manifested itself in Europe as a “supply-side” shock, as Chinese producers cut their exports dramatically. China is the world's largest provider of capital products, responsible for a considerable portion of Europe's car industry electronics imports as well as the bulk of primary elements of the clean energy industry, such as photovoltaic panels. This impact is expected to continue in the coming weeks, undermining Greenfield development programmers in the works, and will escalate through many European countries as non-strategic businesses are shut down. This business climate, in our opinion, may bring uncertainty, but it may also bring rewards, such as new investments entering the market, an ability to produce alpha, or potentially higher entry rates in a market that has seen a rise in average valuations in the recent past, as has been the case with other asset groups.
The market for Europe Indoor Flooring Market is segmented into the type, end user and country. Based on type, the Europe Indoor Flooring Market is segmented into ceramic tiles, carpet, vinyl linoleum & rubber, wood & laminate and others. In 2021, the carpet segment accounted for the largest market share. The growth of these segments is attributed to extensively use flooring decor. However the vinyl linoleum & rubber segment is estimated to register the highest CAGR during the forecast period.
Forbo International SA, Armstrong Flooring, Inc., Beaulieu International Group, Interface, Inc., Toli Corporation, Mohawk Industries, Inc. ,Shaw Industries Group, Inc. Among the leading companies in the Europe indoor flooring market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
The market for Europe indoor flooring market is segmented into type, and end user. Based on type, the Europe indoor flooring market is segmented ceramic tiles, carpet, vinyl linoleum & rubber, wood & laminate and others. Based on end user, the Europe indoor flooring market is segmented into residential, and non-residential. By Geographically, Europe indoor flooring market is segmented into (Germany, France, Italy, UK, Russia, and Rest of Europe).
Europe Indoor Flooring Market , By Country, 2021 and 2028 (%)
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