Outdoor Flooring Market share 2020 Trends, Growth Opportunities, Industry Revenue and Business Analysis by Forecast
Outdoor Flooring Market Research Report Market Overview
The outdoor flooring market is expected to be worth USD 2621.1 million by 2030, growing at a CAGR of 5.9% over the forecast timeframe (2022–2030). In 2021, the industry was valued at USD 1966.4 million.
Outdoor flooring refers to goods that provide flooring for buildings as well as the infrastructure on the outside. New projects, retrofitting operations, and infrastructure renovations all influence industry growth and are likely to boost the Outdoor Flooring Market throughout the projection period. Furthermore, as millennial home buyers embrace outdoor recreation areas and disposable income rises, the need for outdoor flooring solutions amongst residential end-users rises.
However, rising focus on the use of green and eco-friendly materials, and currency fluctuations, have an impact on profit margins and are expected to stymie the worldwide industry. In addition, the growing emphasis on public-private partnerships (PPPs) for infrastructure growth presents lucrative growth potential for the outdoor flooring market.
Market Segmentation
Outdoor flooring relates to flooring which is installed on the outside of structures. These floorings improve the aesthetic of structures. These floorings are available in a range of styles and materials to complement the building infrastructure’s nature. Special flooring options are frequently used to distinguish designated pedestrian pathways.
By material, the market is divided into:
● Wood and Laminate
● Synthetic Fibre and Fabrics
● Ceramic
● Others
Based on flooring type:
● Resilient
● Non-Resilient
Based on construction type
● Renovation
● New Construction
Based on end-use
● Public Infrastructure
● Residential
● Others
Latin America, North America, Asia Pacific, Europe, and the Middle East, and Africa are among the product’s local markets.
Regional Classification
North America, Asia-Pacific, Europe, as well as the rest of the world are the four key regions that make up the Global Outdoor Flooring Market. In 2016, Asia-Pacific had the greatest market share, trailed by North America and Europe. The Asia-Pacific market is expanding due to rapid growth in the building sector with rising industrialization. The United States is the leading contributor to the global and regional outdoor flooring markets. The growth of business and residential infrastructure in the United States is expected to boost the need for outdoor flooring.
Continuous investments within commercial real estate do have a favorable impact on market growth. The second-largest market for timber flooring in Europe. The industry demand has been boosted by increased repair and refurbishment activities of current infrastructure.
Industry News
The expanding urbanization and industrialization of the world are expected to benefit the outdoor flooring sector. This might be ascribed to the world’s rapidly growing population, which is driving demand for new residents and commercial infrastructure. Furthermore, increased disposable incomes, higher living standards, as well as a growing market for aesthetic, structural components are driving demand for inventive and distinctive outdoor décor solutions since outdoor floorings offer an upscale appeal with no care. Moreover, the rapid growth of bio-based flooring solutions produced from natural materials like bamboo will likely boost product demand amongst environmentally concerned consumers. These aspects are expected to boost market expansion over the next few years.
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