The flooring industry will grow by a CAGR of 6.1% from 2021 to 2028.
You’re about to see a list of flooring industry statistics.
On this page you’ll find new flooring industry stats related to:
- Flooring industry market size
- Wood and laminate flooring market
- Vinyl flooring market size
- U.S. wood flooring market size
- Laminate flooring market size
- Carpet industry size
- And much more
Let’s dive right into the stats.
Key Flooring & Carpet Industry Statistics:
- At the end of 2020, the global flooring industry was valued at approximately $388 billion, and it was expected to reach $409.03 billion by the end of 2021.
- In the United States alone, the number of carpets sold each year totals in $12 billion of revenue, and this also includes area rug sales, which are often put together.
- From 2021 to 2028 the flooring & carpet industry is expected to grow at a CAGR of 6.1%.
- Back in 2018, the wood and laminate flooring market size was estimated at $63.01 billion, and it has currently reached approximately $78 billion in 2021.
- The global vinyl flooring market was estimated at $25.6 billion in 2018, and by the end of 2020, it had already reached over $30 billion.
- The North American wood flooring market is expected to grow at a CAGR of 1.5% from 2020 to 2027.
- The laminate flooring market is expected to grow at a CAGR of 5.3% from 2021 to 2025.
- Based on national averages, you should expect to pay around $1,700 for carpet installation, but it could range anywhere from $800 to $2,600.
Global Flooring Industry Size Statistics
The flooring industry has been around for centuries, but like most industries, it has evolved with the times. Different flooring types make up the overall revenue of this industry, and here are just a few of the statistics that deal with the size of this industry on a global scale.
Overview Of The Flooring Industry
How big is the flooring market globally?
According to Grand View Research, at the end of 2020, the global flooring industry was valued at approximately $388 billion, and it was expected to continue to grow over the next few years.
What is the flooring market growth rate?
The global flooring industry is vast, and it is only expected to increase in the years to come. As a matter of fact, from 2021 to 2028 the flooring & carpet industry is expected to grow at a CAGR of approximately 6.1%.
This percentage could change in the future depending on various factors.
As of 2021, the trends and expectations of the industry forecast this percentage to be a fair account of what is in store for the industry.
If this percentage holds strong, the industry will reach approximately $622 billion by 2028.
How many floors are sold each year?
Every year, there are roughly 450 billion floors sold globally.
Some of these floors are merely replacing a small area in a home, which can cost hundreds of dollars, but some are fully replenishing existing floors or placed in whole new homes and offices throughout the world.
Choosing when to change out your flooring is a huge deal, and luckily, it can help to boost the statistics for the flooring and carpet industry.
Which segment accounted for the largest flooring market share?
Various segments account for the entire flooring industry, but in the most recent reports, the non-resilient flooring segment showed the most potential and had the largest market share in the entire industry.
At the end of 2020, this segment accounted for almost 61% of the flooring industry's global revenue, which is a substantial dollar amount, when the entire industry was reported at approximately $388 billion.
What are the fastest-growing sectors in the flooring industry?
Although the non-resilient flooring segment is the current largest segment in the industry, the resilient flooring segment is expected to be the fastest-growing segment because it has the largest CAGR percentage growth expectations from 2021 to 2028.
Who are the key players in the flooring market?
Just like with most markets, the flooring and carpet industry thrives on new trends and innovative solutions, and this market has a very competitive nature, which has also made way for competitive companies to thrive in the industry, as well.
When looking at the global market, here are some of the key players in the industry that you should take note of:
- Gerflor
- Mohawk Industries, Inc.
- Polyflor
- Interface, Inc.
- Mannington Mills, Inc.
- AFI Licensing
- Tarkett, S.A.
- Shaw Industries, Inc.
What are the factors driving the flooring market?
Some of the major factors that are driving this industry are the rising construction activities in both the residential and commercial sectors paired with the rapid industrialization and urbanization that is currently happening all over the world.
These trends provide more opportunities for flooring designs and setups, which helps the industry to grow overall.
What is the average price to install floors?
On average, you will pay between $3 and $22 per square foot. This is a large price range, and it depends on the type of material that the floors are made of.
When trying to figure out the cost of flooring installation, there are a few things that should be considered.
For one, you have to take into account the size of the area that you are wanting to put flooring down, and you should also consider the type of material that you are wanting to put down.
Wood & Laminate Flooring Market Statistics
Wood and laminate flooring is one of the top flooring types that people consider for both residential and commercial sectors. Although wood and laminate flooring are not the only flooring options, here are some statistics that directly correlate to these sectors.
What is the market size of the wood and laminate flooring market?
Back in 2018, the wood and laminate flooring market size was estimated at $63.01 billion, and it has currently reached approximately $78 billion in 2021.
Some of the factors that have helped this sector of the flooring industry to grow are the durability and restorability that this type of flooring is capable of providing. Plus, it has a better environmental profile than other types of flooring options.
What is the growth rate of the wood and laminate flooring market?
Unlike some of the other industries and sectors of this market, the wood and laminate flooring market is expected to grow at a CAGR rate of 5.3% every year from now until 2028.
That is a substantial growth rate for any industry, but this number could rise or fall depending on the different trends and economic transitions that might occur that are unforeseen.
Who are the key players in the wood and laminate flooring market?
Many companies deal with wood and laminate flooring, but there are a few that stand out from all the rest.
According to revenue sheets and statistics, here are a few of the key players that deal mainly with wood and laminate flooring:
- Shaw Industries Group Inc.
- Beaulieu International Group
- Tarkett SA
- Mohawk Industries Inc.
Vinyl Flooring Market Size Statistics
Vinyl flooring has become increasingly popular among those that are looking for lightweight flooring material and for those who are looking for a lower maintenance material. Here are just a few prominent statistics that have to deal directly with the vinyl flooring market.
What is the market size of the vinyl floor market?
Back in 2018, the global vinyl flooring market was estimated at $25.6 billion, and by the end of 2020, it had already reached over $30 billion.
By the end of 2021, this market is expected to reach over $33 billion and continue to increase over the next few foreseeable years.
It is expected to continue growing over the next few years because many people are looking for cheaper flooring options that are easier to maintain than traditional carpet and hardwood flooring.
What is the growth rate of the vinyl flooring market?
When looking at the overall growth rate of the vinyl flooring market, most people that are in the industry like that the foreseeable years are expected to have a CAGR increase of 7.4%, which is even larger than some of the other flooring sectors.
There is a rising demand for this type of product, especially in construction areas that are high-traffic areas, like commercial spaces and offices. This type of flooring is considered to be more cost-effective than wood and carpet tiles.
Who are the biggest manufacturers in the vinyl flooring market?
The biggest manufacturers in the vinyl flooring market are:
- Forbo Group
- Armstrong Flooring, Inc.
- Mannington Mills
There are a lot of other manufacturers that deal with vinyl flooring. Some of them, like Tarkett SA and Shaw Industries Group, Inc. specialize in other types of flooring as well but are still known for their vinyl flooring sector.
North America Wood Flooring Market Statistics
As an overview, the North American wood flooring market is doing well, but it does not have the prospects of other flooring sectors. However, it does still provide positive returns and is expected to increase in the next few years. Here are a few statistics that you should take into account about the North American wood flooring market.
How big is the flooring market in North America?
At the end of 2020, the North American wood flooring market was expected to reach close to $5.1 billion.
Compared to other sectors in the industry, this sector doesn't have as great potential, but there is still some need for this type of flooring.
One reason that this flooring sector is lower is that most of the business for wood flooring comes from the residential sector, and wood flooring, when properly maintained, lasts longer than other types of flooring before it has to be replaced.
Plus, this type of flooring is a little harder to manage and maintain than other floorings and costs more per sq ft in general, but that doesn't mean that this flooring market sector isn't still doing well.
What is the North American wood flooring market growth?
According to statistics and projections for this market, the North American wood flooring market is expected to grow at a CAGR of 1.5% a year from 2020 to 2027, which is still a plus in its favor.
It isn't expected to lose money, and there is still a substantial amount of money to be made within this flooring market if it is marketed to the proper people.
Laminate Flooring Market Statistics
Laminate flooring is a very popular type of flooring because it tends to be cheaper and easier to maintain than other types of flooring.
There are a lot of excellent qualities that make laminate flooring better than other sectors, and here are a few statistics on the laminate flooring market to give you a better idea of what is going on in this sector.
How big is the laminate flooring market?
In 2018, the laminate flooring market was estimated to be around $63 billion, and due to the simplicity of laminate flooring and its installation, the projections of this market are expected to reach close to $90 billion by the year 2025.
At the end of 2020, it had already gotten close to $73 billion, which is a substantial increase for just two years. Some of the factors that have helped the laminate flooring market to grow are its durability and environmental profile compared to other types of flooring.
What is the growth rate of the laminate flooring market?
It can be difficult to judge how well a market will do in the future because there are always changing factors that could cause the market to increase or decrease.
However, when looking at the current trends of the overall flooring market, the laminate flooring market is expected to increase at a CAGR of 5.3% a year from 2021 to 2025, which is a decent increase for any industry marginally. It leaves a little room for the trends and market to change either way from year to year to still reach this goal.
Who are the biggest manufacturers in the laminate flooring market?
When looking into the laminate flooring market, you will find that five companies in the world excel at this sector of flooring, and they are all based in different parts of the world but have international ties that take them to customers just about everywhere.
According to some of the latest statistics, the top five laminate flooring companies in the world are:
- Mohawk Industries, Inc. (Headquarters: USA)
- Tarkett SA (Headquarters: France)
- Mannington Mills, Inc. (Headquarters: USA)
- AFI Licensing LLC (Headquarters: USA)
- Shaw Industries Group, Inc. (Headquarters: USA)
Carpet Industry Statistics
Carpet flooring is one of the most well-known and used flooring types in the world. There are different types of carpet that people have to consider, but here are a few of the statistics that have to deal directly with the carpet industry and what it has to offer.
How many carpets are sold each year?
In the United States alone, the number of carpets sold each year totals in $12 billion of revenue, and this also includes area rug sales, which are often put together.
Carpets and area rugs are often looked at to be in the same statistics, and over the past few years, the number of these products has held steady.
There hasn't been any real significant increase or decrease in the overall sales, which shows that this is one of the more stable flooring markets.
People who are looking to go into the flooring business often start with the carpet flooring market because there is always a steady demand for this type of flooring, but after a while, most companies supplement their revenue and profits by selling other types of flooring options, as well.
How big is the carpet industry?
Back in 2018, the carpet market size was estimated at approximately $52 billion, and it was foreseen that this market would increase a little each year globally, and as of the end of 2020, these predictions have held.
After running the numbers, projections, and statistics of the carpet industry, this market size is expected to reach close to $74 billion by the end of 2026, and it is already well on its way to becoming true.
It has steadily increased from year to year just enough to keep everything in the green and heading in a positive direction.
What is the growth rate for the carpet industry?
The carpet industry is expected to grow at a CAGR of 4.6% annually from 2020 to 2026. Several factors could positively or negatively impact these predictions, however.
Compared to other flooring sector industries, the carpet industry is expected to continue to grow over the next few years.
When thinking of going into the flooring industry, the carpet sector is an excellent place to start because there is always a demand for this type of flooring.
Plus, carpet has different budget ranges that it can be used in, due to the different types of carpet flooring that are available on the market and in the industry.
How many carpet manufacturers are there in the U.S?
Less than 50 years ago, there were over 100 different carpet manufacturers that were based in the United States, but now, that number has shrunk drastically to less than twenty in the United States.
On top of that, two companies actually control approximately 70% of all carpet in the United States that is sold domestically: Mohawk and Shaw Industries. However, Shaw Industries is by far the largest carpet manufacturer in the world.
They are headquartered in Dalton, Georgia, and are a subsidiary of Berkshire Hathaway. They have annual revenue of $6 billion in carpet sales and have around 22,000 employees worldwide.
What is the average price to install carpets?
Like most flooring installations, the average price of the carpet install can vary depending on several factors. The size of the area and the type of carpet being installed are the two most substantial factors that are usually considered.
Based on national averages, you should expect to pay around $1,700 for carpet installation, but it could range anywhere from $800 to $2,600.
Usually, you will pay by the square foot, which can range from $3.5 to $11 per square foot.
The amount that you will pay for installation generally varies due to the type of carpet that you are wanting to have installed. Purchasing the carpet is usually the largest expense when having it installed.
Conclusion
In the flooring and carpet industry, many excel in their business practices, and due to high demand, this industry is consistently growing at a rate higher than many other construction industries. The statistics above were gathered to show you where the industry was and where it should be in a few years.
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