Potential Impact of COVID-19 on Area Rug Market

-

 

Area Rug Market – A Study on a Type of Aesthetic Floor Covering

  • Area rugs can be defined as a thick and heavy cloth usually made of wool, and smaller than a carpet
  • Area rugs are floor coverings used to protect floors, diminish noise, and enhance comfort. These rugs also add a personality to the décor of any definite space.
  • Currently, a myriad of shapes, sizes, colors, and construction of rugs is available in the market. Persian, oriental, contemporary, and Native American are a few options of area rugs.
  • Some of the other purposes of area rugs is to prevent slips and accidental falls
  • Bangladesh, Iran, and India are among the largest producers and exporters of luxury hand woven area rugs

Rising demand for high quality, attractive area rugs likely to drive the global area rug market

  • Over the years, demand for high quality rugs with attractive colors and designs has increased significantly, contributing to the overall growth of the area rug market
  • In addition, rising disposable income in developing economies is expected to increase the demand for mid-range – high quality area rugs  
  • The U.S and Europe are among the major importers of carpets, and growth in both residential as well as commercial sectors in these regions are likely to bolster the demand for area rugs during the forecast period

Are you a start-up willing to make it big in the business? Grab an exclusive PDF Brochure of this report

Partnerships aimed at design innovation of area rugs to generate opportunity for the area rug market

  • Leading manufacturers in the market are partnering with individual designers and private interior designing firms to bring further innovation in designs and production of area rugs
  • For instance, in September 2019, Harounian Rugs International and Sunbrella announced a partnership to produce a unique collection of indoor and outdoor rugs. In July 2019, Tamarian announced its new rug collection in collaboration with Baltimore – based artists.  

Challenges with respect to quality and delayed delivery to hinder the area rug market

  • Majority of area rug manufacturers have reported delayed delivery and quality as a major challenge. In addition, rising demand for high quality area rugs at an affordable price have placed manufacturers in jeopardy, as cost of procurement of quality raw materials and skilled labor continues to rise, resulting in low growth.

Comments

Post a Comment

Popular posts from this blog

Oil and Gas Terminal Automation Market: To Reflect Impressive Growth Rate By 2019 - 2027

-
  Global  Oil and Gas Terminal Automation Market : Overview A sturdy growth rate, compounded annually, will be recorded in the global oil and gas terminal market, states Transparency market Research (TMR), for the period of 2019 to 2027. It will be driven forward on to a high growth trajectory at the back of a number of growth factors. Some of these are low oil prices and growing demand for natural gas across a number of varied industry verticals. Demand for oil and gas will also be pushed up by growing population for its energy and fuel needs. This in turn will require more exploration, extraction, better storage and robust distribution. And, this again would lead to demand for oil and gas terminal automation. Therefore, the market will be rife with new opportunities of growth in this period. And, as per TMR, the players would do their best to make the most of these. Global Oil and Gas Terminal Automation Market: Competitive Landscape Global oil and gas terminal automation market is a
Read more

Military Land Vehicle Electronics Market: Latest Trends and Forecast Analysis up to 2019 - 2027

-
Global Military Land Vehicle Electronics Market – Introduction Military land vehicle electronics are used in military land vehicles to enable navigation, communication, and observation in the exchange of intra-vehicular or inter-vehicular information. They are used in the military to increase warfare capabilities in surveillance, intelligence, and reconnaissance missions. This is expected to enhance the demand for military land vehicle electronics across the world.  The growing trend of an open reference architecture system is augmented by an increasing need for military land vehicle electronics, which is turn is expected to fuel the market. Besides, armored fighting vehicles (AFVs) are equipped with networked information technology, so as to provide them with combat capabilities and optimal situational awareness. This in turn is expected to boost the military land vehicle electronics market over the forecast period. Key Drivers of the Military Land Vehicle Electronics Market
Read more

Impact Sensing Door Unlock System Market will Generate New Growth Opportunities By 2019 - 2027

-
  Impact Sensing Door Unlock System : Introduction The impact sensing door unlock system unlocks the door automatically without a key, it can be operated through a mobile application. The impact sensing door unlock system consists of sensors and an electronic control unit, wherein the sensors receive a signal from the wireless system and transmits that signal to the electronic control unit. The electronic control unit is wired to the central lock, which in turn unlocks or locks all the doors of the vehicle. Key Drivers of Impact Sensing Door Unlock System Market Rise in demand for safety and security features in a vehicle is estimated to boost the impact sensing door unlock system market. Every vehicle manufacturer is trying to boost the integration of advanced safety features, including center locking system with impact sensing door unlock system that is activated through a mobile application. This in turn is projected to fuel the demand for the impact sensing door unlock system. Incr
Read more