Carpets and Rugs Market Size 2023-2030
The global carpets and rugs market size was valued at $50.29 billion in 2022 & is projected to grow from $55.28 billion in 2023 to $106.01 billion by 2030
The commercial segment is also expected to grow steadily in the coming years. The rising demand for the product in commercial spaces is due to providing thermal insulation, an attractive & flexible accent, reducing atmospheric pressure, and soundproofing abilities. These factors are driving the market demand. Manufacturers also focus on launching new products for offices, hotels, and others. For instance, in October 2021, Carcus Flooring, a division of Beaulieu International Group, launched a new unique collection of commercial broadloom carpets, XL Insinia Chromo.