Saudi Arabia Carpet and Rugs Market Outlook
According to a new report by Expert Market Research titled “Saudi Arabia Carpet and Rugs Market Size, Share, Trends, Analysis, Report, Demand, Forecast 2024-2032″, the Saudi Arabia carpet and rugs market is projected to grow at a CAGR of 5.2% between 2024 and 2032. Aided by the country’s strong economic growth and the increasing preference for luxury and aesthetically appealing home decor, the market is expected to grow significantly by 2032.
Carpets and rugs in Saudi Arabia are more than just floor coverings; they are a symbol of tradition, luxury, and artistic expression. The market comprises a wide range of products, from traditional hand-knotted carpets to modern machine-made rugs, catering to various consumer preferences and price points. This diversity is one of the key factors contributing to the Saudi Arabia carpet and rugs market growth.
Saudi Arabia’s rich cultural heritage plays a significant role in the carpet and rug market. Traditional hand-knotted carpets, known for their intricate designs and superior quality, are highly valued both domestically and internationally. These carpets are often seen as a symbol of status and luxury, making them popular among affluent consumers.
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The market is also influenced by the growing trend of interior decoration and the desire to create aesthetically pleasing living spaces. The increasing construction of residential and commercial buildings in Saudi Arabia has further spurred the demand for carpets and rugs, contributing to the market’s growth.
According to the Saudi Arabia carpet and rugs market analysis, the technological advancements in the production of carpets and rugs have led to the availability of a wide range of designs, colours, and materials. These advancements have made it possible to produce high-quality carpets and rugs at a lower cost, making them accessible to a broader range of consumers.
Consumer preferences in Saudi Arabia are gradually shifting towards modern and contemporary designs in carpets and rugs, leading to a higher Saudi Arabia carpet and rugs market demand. This shift is particularly noticeable among the younger demographic, who favour modern interior design trends. As a result, manufacturers and retailers are increasingly focusing on offering products that cater to these evolving tastes.
There is a growing demand for eco-friendly and sustainable carpets and rugs, providing an avenue for manufacturers to innovate and cater to environmentally conscious consumers. Additionally, the export potential of Saudi Arabian carpets and rugs, particularly those with traditional designs, remains largely untapped and presents a significant opportunity for market players.
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Saudi Arabia Carpet and Rugs Market Segmentation
The market can be divided based on type, material, application, and distribution channel.
Market Breakup by Type
- Tufted
- Woven
- Needle-punched
- Knotted
- Others
Market Breakup by Material
- Nylon
- Polyester
- Polypropylene
- Others
Market Breakup by Application
- Residential
- Commercial
Market Breakup by Distribution Channel
- Mass Merchandisers
- Home Centres
- Speciality Stores
- Others
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the market. Some of the major players explored in the report by Expert Market Research are as follows:
- Al Sorayai Group
- Al Abdullatif Industrial Investment Company
- Al Sadoun Group
- Ege Carpets
- Riyadh Velvet Factory
- Oriental Weavers Group
- Al-Mira Center For Carpet And Furniture
- Mada Carpet Company (Al Rajhi Holding)
- Merinos A.S.
- Others
In-Depth Interrogatives Addressed within the Expansive Report
What constituted the monetary magnitude of the Saudi Arabia carpet and rugs market in the calendrical annum 2023?
- The market attained a valuation approximating USD 1.68 billion in the year 2023.
Could you elucidate upon the rate of proliferation discerned in the market?
- The market is prognosticated to manifest a trajectory of growth denoted by a Compound Annual Growth Rate (CAGR) of 5.2% during the interregnum spanning from 2024 to 2032.
What is the envisioned prognostication for the Saudi Arabia carpet and rugs market during the temporal epoch encompassing 2024 to 2032?
- Projections posit a robust expansion within the forecasted chronology of 2024-2032, culminating in an estimated market valuation ascending to USD 2.25 billion by the terminal year, 2032.
What constitutes the preeminent catalysts propelling this market?
- The paramount market impetuses encompass an augmented embrace by the commercial sector owing to the noise-canceling and protective attributes proffered by carpets and rugs, coupled with a surge in home remodeling and renovation undertakings.
What are the salient trends characterizing the Saudi Arabia carpet and rugs market landscape?
- Salient trends galvanizing market ascendancy comprise an augmented accessibility of carpets and rugs manifesting diverse configurations in terms of shapes, sizes, hues, and designs, alongside a burgeoning emphasis on the augmentation of home décor.
What are the predominant conduits facilitating the dissemination of carpets and rugs, as per the comprehensive EMR report?
- Primary conduits encompass mass merchandisers, home centers, and specialty stores, among an array of others.
What materials of substantive consequence are discernible in the market milieu?
- Materials of noteworthy consequence encompass nylon, polyester, and polypropylene, inter alia.
Who are the identified pivotal entities within the Saudi Arabia carpet and rugs market, in consonance with the market report?
- Pivotal entities in the market landscape comprise Al Sorayai Group, Al Abdullatif Industrial Investment Company, Al Sadoun Group, Ege Carpets, Riyadh Velvet Factory, Oriental Weavers Group, Al-Mira Center For Carpet And Furniture, Mada Carpet Company (Al Rajhi Holding), and Merinos A.S., amid a plethora of others.
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