According to the recent study the wood and laminate flooring market is projected to reach an estimated $41.4 billion by 2027 from $30.8 billion in 2021, at a CAGR of 5.1% from 2021 to 2027. Growth in this market is primarily driven by increases in new construction and renovation activities.
Browse XX figures / charts and XX tables in this XX -page report to understand trends, opportunities and forecast in wood and laminate flooring market by application (residential, commercial), product (wood, laminate), and region (North America, Europe, APAC and Rest of the World).
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“Residential market is expected to remain the largest segment during the forecast period.”
Based on application, the wood and laminate flooring market is segmented into residential, commercial. Lucintel forecasts that the residential market is expected to remain the largest segment.
“Within the wood and laminate flooring market, the laminate segment is expected to remain the largest product”
Based on product the laminate segment is expected to witness the highest growth over the forecast period.
“Europe will dominate the wood and laminate flooring market in near future”
Europe is expected to remain the largest market because most of the European region has a cold climate and wood and laminate flooring helps to maintain warmth in the room. Thus, people mostly prefer wood and laminate flooring in this region. Asia Pacific is expected to witness significant growth over the forecast period because of increasing construction activities in the region.
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Major players of wood and laminate flooring market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. are among the major wood and laminate flooring providers.
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