KSA Carpet & Rugs Market Share, Growth Opportunities, Key Manufacturers, Rising Trends, and Revenue Insights – SPER Market Research
Carpets and rugs are examples of textile floor coverings that enhance the comfort and aesthetics of interior spaces. Although rugs are more compact and easily moved, they can be used to draw attention to specific areas, such as beneath furniture or in hallways, whereas carpets are typically installed wall to wall and provide sound absorption and insulation for entire rooms. Both come in a variety of materials, such as wool, nylon, and synthetic fibers, and have distinct textures and durability levels. They are available in an infinite array of designs, colors, and patterns, making them suitable for customization and coordination with a broad spectrum of home design trends.
According to SPER market research, ‘Saudi Arabia Carpet and Rugs Market Size- By Type, By Application, By Distribution Channel – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Saudi Arabia Carpet and Rugs Market is predicted to reach USD 0.52 Billion by 2033 with a CAGR of 3.73%.
Drivers:
- Carpets and rugs are quite popular because they are both beautiful and functional. They are a great addition to any home or place of business and give the decor a feeling of sophistication. By providing a layer of padding, they also protect flooring—a feature that is especially useful for those who live in cold climates. The Saudi Arabian carpet and rug market is expected to grow significantly throughout the forecast timeframe. Some of the main factors driving the industry are customer preferences, an emphasis on home interior design, changing lifestyles, rising consumer income levels, the expansion of the transportation and construction industries, the demand for environmentally friendly carpets, and the increasing popularity of carpet tiles.
- The construction sector in Saudi Arabia is growing quickly, which has increased demand for carpets and rugs. This is a result of a sharp rise in funding for both new home construction and home rehabilitation programs. The primary drivers of the growth of the carpet and rug market in Saudi Arabia are the expansion of building construction activities and the growing expense of building repairs and improvements.
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Challenges: Numerous obstacles affect the carpet and rug sector in Saudi Arabia, hindering its expansion and long-term viability. Changes in the economy, mainly in the price of oil, can have an impact on consumer expenditure and investments in home furnishings. Due to its excessive reliance on imported resources, the market is susceptible to disruptions in the supply chain and an increase in expenses. Furthermore, fierce competition from domestic and foreign businesses may reduce profit margins, and changing customer tastes toward sustainability and minimalism may put conventional materials and designs in jeopardy. While it might be challenging to attain, maintaining uniform product quality is essential for maintaining a brand’s reputation. Product supply is complicated by distribution issues, particularly in rural places, and local rules present additional obstacles for manufacturers.
The carpet and rug industry was negatively impacted by the Covid-19 pandemic. Lockdown measures taken by the government to try and stem the virus’s spread had a significant effect on the availability of raw materials and the manufacturing of carpets and rugs. Government limitations on hotels, restaurants, and offices resulted in a precipitous decline in the market for carpets and rugs. Due to the COVID-19 pandemic outbreak, supermarkets, hypermarkets, and brand stores were all subject to restrictions, which seriously disrupted the distribution chain. The supply chain and distribution network have been substantially improved by e-commerce.
Additionally, some of the market key players are; Al Abdullatif Industrial Investment Company, Al Kaffary Group, Al Sadoun Group, Al Sorayai Trading and Industrial Group, Al-Mira Centre for Carpet and Furniture.
Saudi Arabia Carpet and Rugs Market Segmentation:
By Type: Based on the Type, Saudi Arabia Carpet and Rugs Market is segmented as; Wall to Wall Tufted Carpet, Wall to Wall Woven Carpet, Rugs.
By Application: Based on the Application, Saudi Arabia Carpet and Rugs Market is segmented as; Residential, Commercial.
By Distribution Channel: Based on the Distribution Channel, Saudi Arabia Carpet and Rugs Market is segmented as; Contractors, Retail, Others.
By Region: This research also includes data for Eastern, Western, Southern and Northern Region.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link:-
Saudi Arabia Carpet and Rugs Market Future Outlook
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