Flooring Services Industry Report by Regional Category Spend, Price Analysis, Key Demand, and Price Indicators, and Best Buying Practices

The global Flooring Services market reached a value of about USD 320.2 billion in 2021. The industry is projected to grow at a CAGR of around 6.1% in the forecast period of 2022-2027 to reach a value of about USD 456.78 billion by 2027.

The global Flooring Services industry report gives a comprehensive analysis of the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. The rapid growth of the residential sector is primarily driving the market's expansion. North America is the highest category spender by region, driving the demand for the Flooring Services industry.

Industry Definition and Segmentation

Flooring Services is a broad phrase that offers a wide range of floor covering options. It refers to a permanent floor covering, or the labour involved in installing one. The Flooring Services industry report comprises segments by product (wood and laminate, vinyl, linoleum and rubber, carpet and ceramics) and region (North America, Europe, Asia Pacific, the Middle East, and Africa, and South America).

The North American Region is Driving the Growth of the Industry

North America holds the largest share in the industry as the demand for flooring in the area is expected to rise owing to the well-established building sector in the United States and Canada and the growing demand for single-family homes in the area. 

The market is being driven by the rapid development of the residential sector in both established and emerging nations. The industry's primary growth drivers will be the increasing demand for innovative flooring solutions in commercial and industrial spaces. Other factors such as growing urbanisation, rising disposable incomes, and expenditure power are paired with shifting industry trends. Consumer preferences for visually better patterns, textures, and colours and low-maintenance and easy-to-install floorings are expected to propel market expansion. Additionally, the Increased government investment in infrastructure construction is likely to boost demand for flooring.

Best Procurement Practices

The global Flooring Services industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by major international Flooring Services regions across the globe, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.

Category Management Studies

Flooring Services although parquetry is often linked with flooring, it may also apply to various services such as linoleum or carpeting. To make the carpet job easier, repair outdated metals or loose tack strips before installation is done. When installing hard surfaces, flattening, sealing, and cleaning the floor are steps followed. T mouldings, quarter round, base baseboards, and other adequately cut, stained, and finished trimmings may make a poorly constructed floor seem decent. Construction adhesive on the bottom and hot-melt glue on the sides to keep it in place while the construction adhesive sets are the preferred method.

Various Trends in the Industry, Further Augmenting the Flooring Services Market

The industry is witnessing growth due to the changing trends in the industry. With the increased need for comfort and privacy due to louder surroundings, the flooring industry has seen an increase in insulation demand since a well-insulated floor produces a better sound environment. The growing demand for Sustainable materials, such as bamboo flooring and recycled concrete flooring, is gaining traction among consumers. Waterproof flooring is a popular choice among consumers; Hence, vinyl flooring mixed with WPC will become more popular in the following years as a cost-effective choice. Also, the growing investments and constant R&D in flooring goods paired with customisation possibilities in terms of colour, texture, and finishing have led to increased product demand, boosting the market growth.

The regional markets for the industry can be divided into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.

Key Industry Players Mentioned in the Flooring Services Industry Report

• Armstrong Flooring, Inc.
• Tarkett S.A.
• Mohawk Industries Inc.
• Shaw Industries Group, Inc.
• Mannington Mills, Inc.

Market Landscape

The global flooring market remains relatively consolidated with fragmented local and regional markets. Some of the big businesses currently govern the industry in terms of market share. Innovations and new trends have pushed the total market in floor designs and construction methods. Several companies are conducting research and development to produce sustainable flooring materials. To stay competitive, corporations are also working on expanding their geographical presence and product ranges.

Key Initiatives by Companies

• Diverzify, a national leader in commercial flooring installation and interior services, and Spectra Contract Flooring and ProSpectra Contract Flooring, both divisions of Shaw and the interior industry’s most comprehensive commercial floor covering resources, will merge to form the world’s largest independent commercial installation business, with combined revenue of nearly $1 billion, 52 U.S. locations, and a labour force of about 5,000 craftsmen and women. The firm will now have a brand presence in every primary U.S. market, with minimal current overlap, to provide an unequalled variety of service options. Both firms will still operate under their present brand identities.