Robust Growth in Commercial Flooring Market: Forecast to Hit $91.27 billion by 2029 with a CAGR of 6.9%
28 Jan, 2025
What Contributed to the Growth of the Commercial Flooring Market in Recent Years?
The commercial flooring market witnessed strong growth.
• The market grew from $65.91 billion in 2024 to $69.93 billion in 2025, marking a robust CAGR of 6.1%.
The significant growth in the historic period stemmed from increased commercial construction projects, evolving design trends, higher demand for durability, increased environmental and sustainability concerns, and a higher need for renovation and replacement needs.
What is the Forecast for the Commercial Flooring Market Size in 2029?
The commercial flooring market is expected to see robust growth in the next few years.
• The market size is projected to reach $91.27 billion by 2029, growing at a CAGR of 6.9%.
This growth is attributed to circular economy practices, burgeoning demand in emerging markets, growing need for resilient and low-maintenance flooring, safety and slip resistance requirements, and the expansion of the real estate industry. The forecast period will see trends such as flooring material innovation, advanced flooring installation methods, technological advancements, innovative solutions, and strategic collaborations.
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What are the Key Drivers behind the Commercial Flooring Market Growth?
Rapid urbanization is a significant factor driving the commercial flooring market. The shift of the population from rural to urban areas has resulted in heightened requirements for housing and commercial facilities, consequently driving the commercial flooring market. For instance, a report by Addis Ababa University, Ethiopia, projects the global urban population to grow by 6.3 billion by 2050. According to the World Cities Report 2022 by the United Nations Human Settlement Programme, currently, urban areas house 55% of the world's population, a figure predicted to reach 68% by 2050.
How is the Commercial Flooring Market Segmented?
The commercial flooring market segmentation is as follows –
1) By Product: Soft Covering Flooring, Resilient Flooring, Non-Resilient Flooring, Seamless Flooring, Wood and Laminate
2) By Distribution Channel: Retail, Wholesale and Distributor Business Trend
3) By Application: Healthcare, Education, Hospitality, Retail, Public Buildings, Other Applications
What Key Trends are Shaping the Commercial Flooring Market?
Product innovation stands as a notable trend in the commercial flooring market. Large companies in the commercial flooring market are now focusing on offering innovative products that meet consumer demands. For instance, Welspun Flooring, an Indian manufacturer for commercial and residential use, launched an anti-viral flooring range. The flooring is designed with a unique coating of silver ion and titanium oxide that curbs virus growth by 99.68%, including the COVID-19 virus.
Who are the Key Players in the Commercial Flooring Market?
Major players contributing to the commercial flooring market include:
• Mannington Mills Inc.
• Amtico International Inc.
• Mohawk Industries Inc.
• Flowcrete Group Ltd.
• Forbo Holding AG
• Interface Inc.
• Gerflor SAS
• Hanwha Group
• Congoleum Corporation
• NOX Corporation
What are the Regional Insights into the Commercial Flooring Market?
In 2024, North America was the largest region in the commercial flooring market. Meanwhile, the Asia-Pacific region is forecasted to exhibit the fastest growth in the market. The report covers regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.