Carpet Industry Size In India

Besides export prospects of carpets basically depend on overseas demand and domestic supply potential.

Carpet industry size in india.

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 history of indian carpets entails that when babar came to india he was disappointed by the lack of. Market size is the total revenue for the rug carpet manufacturing industry. Carpet weaving is an ancient indian tradition with the industry flourishing in the country 16th century onwards.

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. 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. Euromonitor international is the leading provider of strategic market research reports. Today india is the world s largest producer and exporter of handmade carpets in terms of value and volume.

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. Around 75 85 per cent of carpets manufactured in india are exported. The indian carpet industry during the post independence era has witnessed an export led growth. 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.

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. Purchase the carpets and rugs in india country report as part of our textile and leather products market research for february 2019. 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. Employing over 2 million weavers it is an old and well established decentralised sector employing over 2 million weavers.

Despite this the carpet industry in india grew with a cagr of 1. About half of the wool produced is. The indian carpet industry is an export oriented industry and the economic recession in western countries resulted in a fluctuation in exports of carpets from india.