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Modular Flooring Market will Register an Exponential CAGR 5.8%, worth $72.5 billion by 2026- Exclusive Report by MarketsandMarkets™

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Modular Flooring Market will Register an Exponential CAGR 5.8%, worth $72.5 billion by 2026- Exclusive Report by MarketsandMarkets™

January 31
11:13 2023
Modular Flooring Market will Register an Exponential CAGR 5.8%, worth $72.5 billion by 2026- Exclusive Report by MarketsandMarkets™
Browse 300 market data Tables and 32 Figures spread through 259 Pages and in-depth TOC on “Modular Flooring Market”
Modular Flooring Market by Product Type (Flexible LVT, Rigid LVT, Carpet Tile, Polyolefin, Rubber, Ceramic), End use (Workplace, Education, Healthcare, Retail, Household) & Region (North America, APAC, MEA, Europe, RoW)

Modular flooring consists of panels or interlocking floor tiles that may be put together and taken apart to create various flooring surfaces. Because it is reliable, simple to instal, and affordable, it is frequently utilized in residential and commercial settings. From covering old floors to producing new patterns, modular flooring can be used in a variety of ways. It may be utilized to give any place a distinctive appearance because it is offered in a range of materials, hues, and patterns.

The global modular flooring market is estimated to be USD 54.6 billion in 2021 and is projected to reach USD 72.5 billion by 2026, at a CAGR of 5.8% from 2021 to 2026. The driving factors for the modular flooring market growth in investments in the construction industry, coupled with a rise in the number of renovation & remodeling activities. The rise in demand from emerging economies and the growth of the organized retail sector create growth opportunities for the market. 

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Mohawk Industries (US), Shaw Industries (US), Tarkett (France), Armstrong Flooring (US), Forbo (Switzerland), Gerflor (France), Interface (US), Beaulieu International (Belgium), TOLI Corporation (Japan) are the major players that undertook most of the development strategies.

These key players have focused on market consolidation by adopting organic and inorganic growth strategies such as mergers & acquisitions. These companies adopted acquisitions as the key growth strategy between 2019 and 2021.

Mohawk Industries manufactures a wide range of flooring products, including carpets, rugs, ceramic tile, laminate, wood, luxury vinyl tile, and vinyl flooring. The Georgia-based company has grown from a US-focused carpeting manufacturer to a leading global player in the diversified flooring market. It operates through the following segments: Global Ceramic, Flooring North America (NA), and Flooring Rest of the World (ROW). The Global Ceramic segment comprises ceramic, porcelain, and natural stone tile products used for wall and floor applications. The Flooring NA segment includes floor covering product lines in a broad range of colors, textures, and patterns. The Flooring ROW segment consists of laminate, hardwood flooring, vinyl flooring products, roofing elements, insulation boards, medium-density fiberboard, and chipboards. Mohawk Industries markets its products under brands such as Aladdin, American Olean, Columbia Flooring, Daltile, Durkan, Horizon, IVC, KAI, Karastan, and Kerama. The products are sold through independent specialty retailers, home centers, distributors, builders, mass merchants, and E-commerce. The company caters to various end-markets such as residential new construction, residential replacement, and commercial. Mohawk Industries has grown through 45 acquisitions and continuous re-investment in the business. It has established leading market positions in North America, Europe, Russia, Brazil, Australia, and New Zealand, with sales in more than 170 countries worldwide. The company’s manufacturing footprint extends to 18 countries, where production is geared to local market needs.

Shaw Industries Group, Inc. (Shaw) manufactures and distributes carpet and flooring products. The company is a wholly-owned subsidiary of Berkshire Hathaway, Inc. It manufactures over 3,800 styles of tufted carpet, wood, and resilient flooring for residential and commercial use under about 30 brand and trade names and private labels. The company also provides project management and installation services to its customers. It has a fully integrated operational process from the processing of the raw material to the finished product. Shaw sells its products through 47,000 retailers, distributors, and commercial users in multiple geographies such as the US, Mexico, and Canada. The company has 7 carpets, 9 hard surfaces, 1 sample full-service distribution facility, 3 sample satellite locations, and 30 redistribution centers, along with centralized management information systems. This enables the company to provide prompt and efficient delivery of its products to its retail customers and wholesale distributors.

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Tarkett is a manufacturer of resilient flooring. The company operates through the following segments which are Europe, Middle East & Africa (EMEA), North America, Commonwealth of Independent States (CIS), Asia Pacific  & Latin America, and Sports Surfaces. The production and distribution of vinyl and linoleum flooring, carpet, wood flooring, and laminate flooring is done through the EMEA segment. The North America segment provides commercial carpet, resilient flooring, rubber flooring, and vinyl and rubber accessories, with wood and laminate flooring accounting. Residential vinyl flooring, wood flooring, and laminate flooring products are offered by the CIS, Asia Pacific & Latin America segments. The sports surface segment offers artificial turf, athletic tracks, and indoor sports flooring. Through its extensive product portfolio, Tarkett serves the housing, healthcare, education, offices, hospitality, retail, and sports sectors. The company has a wide presence across all regions such as North America, South America, Europe, the Asia Pacific, and the Middle East & Africa, with 34 industrial sites worldwide.

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The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. 

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