Home Furnishings And Floor Coverings Global Market Report 2022, By Type, By Price Point, By Distribution Channel, By Application

Major companies in the home furnishings and floor coverings market include Mohawk Industries Inc., Ashley Furniture Industries Inc., Berkshire Hathaway Inc., Tarkett S.A, Masco Corporation, Beaulieu International Group, Gerflor SAS, Interface Flooring Systems Inc., TOLI Corporation and Balta Group NV.

The global home furnishings and floor coverings market is expected to grow from $106.16 billion in 2021 to $116.97 billion in 2022 at a compound annual growth rate (CAGR) of 10.2%. The market is expected to grow to $163.91 billion in 2026 at a compound annual growth rate (CAGR) of 8.8%.

The home furnishings and floor coverings market consists of sales of home furnishings and floor covering products by entities (organizations, sole traders and partnerships) that produce home furnishings, such as curtains and draperies, and soft and hard surface floor coverings.

The main types of home furnishings and floor coverings are home furnishings and floor coverings. Household furniture refers to all mobile, compactable goods or machinery used to furnish a home, such as chairs, tables, sofas, mattresses, and so on. The products are available at mass and premium pricing and are distributed through supermarkets and hypermarkets, specialty stores, e-commerce, other channels. The different applications include household and commercial.

Asia Pacific was the largest region in the home furnishings and floor coverings market in 2021. North America was the second largest region in the home furnishings and floor coverings market. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Increasing demand for online shopping is expected to help the home furnishing and floor coverings market grow. Manufacturers can now sell their products on a larger platform than before, which will increase their customer base geographically driving the growth of the home furnishing and floor coverings manufacturing market. In countries such as India, for instance, e-commerce portals have boosted the sales of home furnishing and floor coverings by giving larger exposure to producers who were confined to one geography.

The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the home furnishings and floor coverings manufacturing market in 2021 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in halting of manufacturing activities and a decline in economic activity with countries entering a state of 'lock down' and the outbreak had a negative impact on businesses throughout 2021 and into 2021. However, it is expected that the home furnishings and floor coverings manufacturing market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy

Home furnishings and floor covering manufacturers are adopting digital printing technology to cut down on operational expenditures. This technology lowers sampling process time and water consumption. It is also considered to be eco-friendly alternative to traditional home furnishings and floor coverings. Some of the companies offering digital printing technologies include Epson, Bordeaux Digital PrintInk and Fratelli Robustelli S.r.l. According to a report by Textile World magazine, 870 million square meters of fabric worth $1.29 billion was printed using digital printing technologies to shorten lead times, customize home decorations, improve design aesthetics and reduce costs.

The countries covered in the home furnishings and floor coverings market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam.