North America Wood Flooring Market Enhance Growth Of $6.07 Billion By 2025: Grand View Research, Inc.

North America Wood Flooring Market Enhance Growth Of $6.07 Billion By 2025: Grand View Research, Inc.

“Grand View Research, Inc. – Market Research And Consulting.”
According to report published by Grand View Research,Increasing government spending on infrastructure development in non-residential structures is poised to boost the demand for the North America wood flooring market over the forecast period.

According to a report,“North America Wood Flooring Market Size, Share & Trends Analysis Report By Product (Solid, Engineered), By End Use, By Application (Residential, Commercial), By Region, And Segment Forecasts, 2019 – 2025”, published by Grand View Research, Inc., The North America wood flooring market size is projected to reach USD 6.07 billion by 2025, expanding at a CAGR of 5.1% during the forecast period. Increasing government spending on infrastructure development in non-residential structures is poised to boost the demand for the product over the forecast period.

Rising importance of durable flooring products with innovative designs, coupled with reduced cost, on account of increasing number of campaigns and advertisements in electronic media and e-commerce portals is likely to have a positive impact on the market. In addition, soaring demand for green building materials in residential and commercial structures is expected to stoke market growth.

Furthermore, growing concerns over greenhouse emissions in the manufacturing as well as corporate sectors along with stringent EPA policies aimed at reducing environmental pollution are estimated to compel buyers towards procuring wood flooring as green building materials.

Majority of industry participants are focusing on enhancing their distribution channels by renewing existing marketing contracts and forming new agreements with local distributors. However, spiraling demand for resilient floor covering products, including luxury vinyl tiles and vinyl composites with long-term benefits such as superior furnishing properties is anticipated to limit the application of wood flooring over the forecast period.

Key Takeaways from the report:

  • Red Oak solid wood flooring demand is projected to rise at a CAGR of 5.5% in terms of value from 2018 to 2025 owing to superior properties including high durability and easy installation across applications, including leisure & hospitality, retail, and commercial

  • The consumption of the product in commercial applications is likely to register growth at a CAGR of 5.5% from 2018 to 2025, owing to expansion of ultramodern offices and workspaces along with rapid urbanization and evolving consumer lifestyles

  • The U.S. accounted for over 85.0% of the overall revenue in 2017 owing to emergence of the country as a production destination for shale gas and tight oils

  • Rising demand for luxury furniture in hotels and home furnishing sectors in Canada is poised to increase the consumption of engineered wood at a CAGR of 4.7% in terms of revenue during the forecast period

  • Major players in the industry are focusing on new product launches, product expansion, and expanding distribution network to estimate existing as well as future demand patterns from emerging application sectors.

U.S. solid wood flooring market size, by product, 2014 - 2025 (USD Billion)

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North America commercial wood flooring market share, by application, 2017 (%)

Grand View Research has segmented the North America wood flooring market on the basis of product, application, end use, and region:

North America Wood Flooring Product Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 – 2025)

  • Solid Wood

    • Red Oak

    • White Oak

    • Maple

    • Others

  • Engineered Wood

North America Wood Flooring Application Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 – 2025)

  • Residential

  • Commercial

    • Healthcare

    • Education

    • Leisure & Hospitality

    • Retail

    • Commercial Buildings

    • Public Buildings

    • Manufacturing

North America Wood Flooring End-use Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 – 2025)

  • Repair & Maintenance

  • New Construction

North America Wood Flooring Regional Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 – 2025)

  • North America

    • U.S.

    • Canada

    • Mexico

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About Grad View Research, Inc.

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

For more information: www.grandviewresearch.com

 

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