Carpet Industry Size In India

Carpet weaving is an ancient indian tradition with the industry flourishing in the country 16th century onwards.

Carpet industry size in india.

Today india is the world s largest producer and exporter of handmade carpets in terms of value and volume. Growing application of the product in residential and non residential sectors on account of its high market visibility for soft flooring products and good insulation properties such as floor insulation is projected to positively influence the growth. The cleaning industry is packed with opportunities an earlier forecast reflected that the industry will earn over 46 billion dollars in 2020 and grow 10 by 2026. 12 2017 prnewswire demand for carpets and rugs in india is forecast to grow 5 9 per year to 120 million square meters in 2021 expanding faster than any other major nation.

Flooring market size was valued at around usd 339 billion in 2019 and will showcase growth rate close to 7 7 cagr from the period of 2020 to 2026 rising urbanization spending across the globe coupled with easy availability of finance options will boost the product sales over the projected time period. Despite this the carpet industry in india grew with a cagr of 1. Market size is the total revenue for the rug carpet manufacturing industry. This measurement can be used as a benchmark for determining whether fluctuations in an individual company s market share are caused by its own performance or are the result of changes in the size of the entire industry.

Euromonitor international is the leading provider of strategic market research reports. The domestic availability and quality of native wool is a matter of concern. More than 1 7 million people are currently employed in the cleaning industry yet it is still forecasted to spur a 6 year on year growth in new jobs. India has always had an ancient heritage of carpet weaving a craft that has various skill and expertise from lands as various as persia china and afghanistan.

Employing over 2 million weavers it is an old and well established decentralised sector employing over 2 million weavers. The indian carpet industry during the post independence era has witnessed an export led growth. Carpet industry in india is one of the oldest and the most popular industries. Around 75 85 per cent of carpets manufactured in india are exported.

The europe carpet market size was valued at usd 51 7 billion in 2018 and is projected to expand at a cagr of 3 0 from 2019 to 2025. Besides export prospects of carpets basically depend on overseas demand and domestic supply potential. Purchase the carpets and rugs in india country report as part of our textile and leather products market research for february 2019.