Luxury Vinyl Flooring Industry - Regional Scope
North America Market Analysis
North America industry is likely to account for largest revenue share of 35.8% by 2037. The rapid growth of the North American market is primarily attributed to its easy installation and maintenance, cost-effectiveness, and high moisture-resistance and waterproofing qualities, making it increasingly appealing. The growth of the North American market is being driven by the increasing construction activities in North America and the growing interest among consumers for visually appealing flooring options. The U.S. economy is significantly impacted by construction as there were over 919,000 construction establishments in the U.S. in the 1st quarter of 2023.
The market is experiencing an increasing focus on eco-friendly and environmentally sustainable products. Additionally, technological advancements are reshaping the US market by offering enhanced durability and cost-efficiency.
In Canada, there is a growing trend among consumers to choose flooring materials that provide a blend of style, sustainability, and durability. This trend has resulted in the emergence of eco-friendly flooring choices. As disposable income increases, consumers are seeking flooring options that are more visually pleasing and can be customized.
European Market Analysis
Luxury vinyl flooring market size for Europe region is estimated to observe significant growth till 2037. The demand for luxury vinyl flooring in Europe is high owing to the escalating popularity of durable, long-lasting, and aesthetic-looking floors. These floorings are additionally easy to maintain thus offering a beautiful look to the area.
Furthermore, technological advancement taking place in making floors is giving rise to more cool and attractive designs. End users in Europe are showing a growing preference for luxury vinyl floors. The market growth for LVF in the country is mainly driven by the increasing demand for LVF in commercial settings.
In the UK, there is a growing preference for waterproof luxury vinyl flooring to prevent spills without worry. People are also enjoying the authentic wood and stone appearances without the associated hassles.
The German market for luxury vinyl flooring is rapidly expanding because of its adaptability and cost-effectiveness. The increasing demand is a result of urbanization and refurbishment projects in both residential and commercial sectors.
The market in France is seeing remarkable growth, driven by growing urbanization, home renovation projects, and a desire for fashionable yet practical flooring solutions.
