NEW YORK, Feb. 14, 2018 (GLOBE NEWSWIRE) — Global Carpets & Rugs Market is expected to reach USD 93.07 billion by 2022 at a CAGR of 6.2 %. Global automobile industry is one of the fastest growing industry globally with CAGR of 5.2% from 2015-2020. Heavy demand of vehicle is prime driving factor for Carpets & Rugs Market growth. Global sales of passenger cars are expected to reach 88.7 million by 2019. Increase in disposable income and population across the world are also important factors contributing for growth of Market.
USA and China are the largest market for Automobiles. China has produced 26 million units in 2016. USA is emerged as Carpets & Rugs Market leader with market worth of USD 8.87 billion in 2016. India and Japan Carpets & Rugs industry is expected to grow at rate of 4.4 % up to 2019. Flexible government policies in USA, India and Japan has given tremendous support for establishing Automotive Circular Wheel manufacturing plants. Global Carpets & Rugs Market consists of two end user Original Equipment Manufacturer (OEM) & Aftermarket. Increase in budget of R & D by Automobile manufactures helping Carpets & Rugs industry to grow at faster rate. Light weight wheels reduces vehicle weight and increase the fuel efficiency of vehicle. Technology advancement lead to increase in use of lightweight materials like carbon fiber and magnesium in Automotive Circular Wheel Hub Market.
Global Carpets & Rugs Market: Product Type
Global Carpets $ Rugs Market: End Users/Application Analysis
- Automotive & transportation
Global Carpets & Rugs Market: Competitive Analysis
Report includes accurate analysis of key players with Market Value, Company profile, SWOT analysis. The Study constitutes of following key players in Carpets and Rugs Market:
- Mohawk Industries
- Shaw Industries
- Lowe’s Companies
- Home Depot
- Dixie Group
- Orientals Weavers Company for Carpets
- Tai Ping Carpets International