Wood Flooring Market Share, Globe Key Updates, Demand, Size and Industry Forecast to 2027
The global Wood Flooring
Market size is expected to showcase considerable growth by reaching USD
41,682.2 million by 2027. This is attributable to the increasing government
support to promote wood products for construction activities and the surging
demand for consumer-friendly building designs that propel the demand for
advanced solutions globally.
This information is published by
Fortune Business Insights, in its latest report, titled, “Wood Flooring Market Size,
Share & COVID-19 Impact Analysis, By Application (Residential and
Commercial), and Regional Forecast, 2020-2027.” The report mentions that the
market stood at USD 33,279.5 million in 2019 and is likely to exhibit a CAGR of
3.6% between 2020 and 2027.
Refurbishment of Home Spaces amid
COVID-19 to Augment Growth
The novel coronavirus has halted the
construction activities owing to the government guidelines to maintain social
distancing. With people confined at their home spaces, home renovation
activities have gained momentum. This is expected to favor the growth of the
global market in the forthcoming years.
Wood flooring is a type of flooring
that uses wood to fulfill the consumer’s demand for aesthetic, comfort, and
looks during construction of buildings or home spaces. The growing demand for
sustainability in the construction sector, while designing buildings is
propelling the adoption for wood parquets across the globe.
List of the Leading Companies Profiled
in the Global Wood Flooring Market are:
- Mohawk Industries, Inc. (U.S.)
- Armstrong Flooring, Inc. (U.S.)
- Shaw Industries Group, Inc. (U.S.)
- LL Flooring (U.S.)
- Junckers Industrier A/S (Denmark)
- British Hardwoods (UK)
- Connor Sports (U.S.)
- Tarkett S.A. (France)
- Boral (Australia)
- Daiken Corporation (Japan)
- Kährs Holding AB (Sweden)
- Barlinek S.A. (Poland)
What does the Report Include?
The market report includes a detailed
assessment of various drivers and restraints, opportunities, and challenges
that the market will face during the projected horizon. Additionally, the
report provides comprehensive insights into the regional developments of the
market, affecting its growth during the forecast period. It includes
information sourced from the advice of expert professionals from the industry
by our research analysts using several research methodologies. The competitive
landscape offers further detailed insights into strategies such as product
launches, partnership, merger and acquisition, and collaborations adopted by the
companies to maintain market stronghold between 2020 and 2027.
DRIVING FACTORS
Increasing Government Support to
Promote Wooden Products to Surge Demand
The extensive adoption of
constructional products such as gravel, cement, steel, and plastic leads to
environmental stress. The growing demand for the adoption of sustainable
products is propelling the government to promote wood products that are natural
and easily decomposable. This is expected to drive the demand for advanced wood
flooring solutions across the globe. In addition to this, the adoption of
consumer-friendly design that appeals aesthetically is anticipated to bode well
for the growth of the global market in the forthcoming years.
SEGMENTATION
Residential Segment to Hold Major
Market Share
The residential segment, based on
application, is expected to showcase significant growth owing to the increasing
demand for lumber-based wood flooring products for residential projects across
the globe.
REGIONAL INSIGHTS
Favorable Government Policies to
Promote Wood Products in Asia-Pacific to Aid Growth
Among all the regions, Asia-Pacific
stood at USD 19,665.1 million in 2019 and is expected to hold the largest
global wood flooring market share in terms of revenue in the forthcoming years.
This is attributable to the favorable government policies that promote the
adoption of wood as raw materials in the construction industry in the region.
The market in Europe is expected to
experience significant growth backed by the growing focus of companies to
develop heat compatible wood flooring products in the region between 2020 and
2027.
COMPETITIVE LANDSCAPE
Key Players Focus on Partnerships to
Expand Their Product Portfolio
The global wood flooring market is
fragmented by the presence of major companies that focus on establishing
partnerships to expand their wood flooring portfolio and gain a competitive
edge over their rivals. The other key players are adopting strategies such as
collaboration, the introduction of new products, and merger and acquisition
that will contribute to the market growth in the forthcoming years.
Industry Development
January 2020 - Junckers Industrier A/S announced its association
with Turkish Airlines EuroLeague Final Four by becoming its official partner.
The company informs that according to the partnership it will provide A3
Premium Portable Sports Wood Flooring that is produced by using beech timber
and has received a FIBA Level 1 approval.
Browse Detailed Summary of Research
Report with TOC:
https://www.fortunebusinessinsights.com/wood-flooring-market-104011
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Key Developments: Mergers, Acquisition, Partnership, etc.
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Qualitative Insights on Impact of COVID-19 on Global Wood Flooring
Market
- Supply Chain Analysis & Challenges due to Covid-19
- Steps taken by Government / Companies to Overcome this Impact
- Potential Challenges and Opportunities due to COVID-19 Outbreak
- Global Wood Flooring Market Analysis, Insights and Forecast,
2016-2027
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Application (Value and Volume)
- Residential
- Commercial
- By Region (Value and Volume)
- Americas
- Europe
- Asia Pacific
- Rest of World
TOC Continued…!
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate
data, helping organizations of all sizes make timely decisions. We tailor
innovative solutions for our clients, assisting them to address challenges
distinct to their businesses. Our goal is to empower our clients with holistic
market intelligence, giving a granular overview of the market they are
operating in.
Our reports contain a unique mix of
tangible insights and qualitative analysis to help companies achieve
sustainable growth. Our team of experienced analysts and consultants use
industry-leading research tools and techniques to compile comprehensive market
studies, interspersed with relevant data.
At Fortune Business Insights™, we aim
at highlighting the most lucrative growth opportunities for our clients. We,
therefore, offer recommendations, making it easier for them to navigate through
technological and market-related changes. Our consulting services are designed
to help organizations identify hidden opportunities and understand prevailing
competitive challenges.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Read Press Release:
https://www.fortunebusinessinsights.com/press-release/global-wood-flooring-market-10271
Comments
Post a Comment