North American Wood Flooring Market Expected To Progress At 5.1% CAGR, To Be Worth USD 6.07 Billion By The Year 2025: Grand View Research, Inc.

Posted on 2019-06-19 by researchinsights in Construction, Real Estate // 0 Comments

San Francisco, United States, 2019-Jun-19 — /EPR Network/ —

The North America wood flooring market size is projected to reach USD 6.07 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.1% during the forecast period. Increasing government spending on infrastructure development in non-residential structures is poised to boost the demand for the product over the forecast period.

Rising importance of durable flooring products with innovative designs, coupled with reduced cost, on account of increasing number of campaigns and advertisements in electronic media and e-commerce portals is likely to have a positive impact on the market. In addition, soaring demand for green building materials in residential and commercial structures is expected to stoke market growth.

Furthermore, growing concerns over greenhouse emissions in the manufacturing as well as corporate sectors along with stringent EPA policies aimed at reducing environmental pollution are estimated to compel buyers towards procuring wood flooring as green building materials.

Majority of industry participants are focusing on enhancing their distribution channels by renewing existing marketing contracts and forming new agreements with local distributors. However, spiraling demand for resilient floor covering products, including luxury vinyl tiles and vinyl composites with long-term benefits such as superior furnishing properties is anticipated to limit the application of wood flooring over the forecast period.

To request a sample copy or view summary of this report, click the link below:
https://www.grandviewresearch.com/industry-analysis/north-america-wood-flooring-market

Further key findings from the report suggest:

Red Oak solid wood flooring demand is projected to rise at a CAGR of 5.5% in terms of value from 2018 to 2025 owing to superior properties including high durability and easy installation across applications, including leisure & hospitality, retail, and commercial
The consumption of the product in commercial applications is likely to register growth at a CAGR of 5.5% from 2018 to 2025, owing to expansion of ultramodern offices and work spaces along with rapid urbanization and evolving consumer lifestyles
The U.S. accounted for over 85.0% of the overall revenue in 2017 owing to emergence of the country as a production destination for shale gas and tight oils
Rising demand for luxury furniture in hotels and home furnishing sectors in Canada is poised to increase the consumption of engineered wood at a CAGR of 4.7% in terms of revenue during the forecast period
Major players in the industry are focusing on new product launches, product expansion, and expanding distribution network to estimate existing as well as future demand patterns from emerging application sectors.

Related Reports on Advanced Interior Materials:

Grand View Research has segmented the North America wood flooring market on the basis of product, application, end use, and region:

North America Wood Flooring Product Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 – 2025)

Solid Wood
- Red Oak
- White Oak
- Maple
- Others
Engineered Wood

North America Wood Flooring Application Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 – 2025)

Residential
Commercial
- Healthcare
- Education
- Leisure & Hospitality
- Retail
- Commercial Buildings
- Public Buildings
- Manufacturing

North America Wood Flooring End-use Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 – 2025)

Repair & Maintenance
New Construction

North America Wood Flooring Regional Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 – 2025)

North America
- U.S.
- Canada
- Mexico

For Press Release of This Report by Grand View Research:

https://www.grandviewresearch.com/press-release/north-america-wood-flooring-market-analysis

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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