Germany Floor Covering Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Germany constitutes a major share in the floor covering market in the Western European Union. The market for floor coverings is mature and recorded stable growth during the study period, owing to the slowdown of economy, which led to weak real estate and construction activities. The market is majorly driven by refurbishments, which are usually led by do it yourself (DIY) traditions. Thus, the majority consumer group prefers products that are easy to install and do not involve more timelines. Even though a progression of dedicated online players is shaping the distribution channel in the country, a trend of going to the store is still dominating the market, as most consumers are still preferring going to a specialist store, in order to speak to an expert to seek help through recommendations and to physically witness the product before making a purchase. Due to COVID-19, the industry is experiencing a strong slowdown in the economy, thus affecting the market for floor coverings, and it is estimated to take much time to recover during the initial years of the forecast period. This trend is projected to be the same in the other major Western European countries, like the United Kingdom and Spain. The floor covering the market in Germany is fragmented, due to the presence of several key players with a diversified portfolio of high-quality products. Several key players mentioned in the report accounted for a high market share across the European Union, especially in the Western Europe.

Key Market Trends

Growing Construction Industry in Germany is Driving the Market

The construction industry in Germany has been growing and contributes the largest share in the European Union. The revenue from the sector is recording an average growth rate of 1.8% year on year. The high level of specialization in niches, for example, the fields of acoustic and prefabricated construction systems are helping the market to grow, and they are driving the market for floor covering across the country. The industry generated USD 60 million alone from the construction of residential and non-residential buildings during 2015, and it has been recording increasing shares of revenue.

The Resilient Floor Covering Segment is Gaining More Significance

A major shift from the traditional floor coverings was observed in Germany during the study period. With the gradual increase in the aging population, the younger generation is looking for more modernized solutions. The vibrant color combinations, which easily get on with the interiors, are gaining more significance. Furthermore, they are estimated to grow during the forecast period. With the evolving German society, there is significant loss of interest, especially in flooring types, such as carpets. Furthermore, the wooden flooring segment recorded a negative growth trend.

Competitive Landscape

The report covers the competitive landscape of the major players operating in the country. Most of the key players of the market have a global presence and a strong market in many of the European countries. The floor covering market in Germany is a combination of players who are leading the industry by adopting various strategies, in order to increase their production capacities with the help of rapidly changing technology advancements.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support