Quadintel published a new report on the Modular Flooring Market. The research report consists of thorough information about demand, growth, opportunities, challenges, and restraints. In addition, it delivers an in-depth analysis of the structure and possibility of global and regional industries.
Global Modular Flooring Market is valued approximately USD 54.60 Billion in 2021 and is anticipated to grow with a healthy growth rate of more than 5.8% over the forecast period 2022-2028.
Modular floors are variety of tiles that can be fabricated with each other in an competent manner. This flooring place directly on the pre-existing surface, without the need of anchors or glues . These floorings are convenient, easily removable, and can be used in further applications such as modular carpet, vinyl flooring, raised floor systems, etc.
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The rising renovation and remodeling activities, the growing interest of consumers toward interior decoration, increasing disposable income, coupled with the growing investments in the construction industry are the primary factors that are surging the market demand across the globe. For instance, according to the annual report of the European Construction Industry Federation (FIEC) in 2017, the construction activity in Europe was increased by 2.2% in 2016 (rise nearly USD 1394.81 billion ) compared to 2015. Also, in 2017, it is projected to increase by more than 2% followed by a rise of 3% in 2018. Thereby, raising spending in the construction activity is likely to bolster the demand for modular flooring, which, in turn, leads the market growth. However, volatile raw material prices and a rise in environmental concerns impede the growth of the market over the forecast period of 2022-2028. Also, the increasing demand from emerging economies and growth of the organized retail sector is anticipated to act as a catalyzing factor for the market demand during the forecast period.
The key regions considered for the global Modular Flooring market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Asia-pacific is the leading region across the world in terms of market share owing to the increasing demand from the nations such as South Korea, India, Japan, China, Thailand, Australia, Vietnam, and Indonesia. Whereas, Europe is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as the development of the construction industry, as well as rising disposable income, would create lucrative growth prospects for the Modular Flooring market across the European region.
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Major market players included in this report are:
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
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Furthermore, years considered for the study are as follows:
Target Audience of the Global Modular Flooring Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
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The global market is forecast to witness a rapid growth, owing to increasing demand for technological advancements from end-users. Moreover, increasing investments in research and development activities, launches, partnerships, and other strategic initiatives will benefit the market. Furthermore, the growing focus of authorities towards increasing urbanization and industrialization is forecast to drive the market growth.
What aspects regarding the regional analysis Market are included in this report?
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