The LVT flooring market size was valued at US$ 22.22 billion in 2023 and is expected to reach US$ 43.95 billion by 2031; it is estimated to register a CAGR of 8.9% from 2023 to 2031.
Market Insights and Analyst View:
Luxury vinyl tile offers a cost-effective alternative to traditional materials such as hardwood or stone, providing the look and feel of luxury at an affordable price. In addition, technological advancements in the manufacturing process have allowed for more realistic textures and patterns, enhancing the visual appeal of LVT flooring. Further, properties of LVT, such as durability, water resistance, and ease of maintenance, make it an attractive choice for both residential and commercial applications. Thus, all these factors are driving the growth of the LVT flooring market
Growth Drivers and Challenges:
The affordability of LVT flooring compared to natural materials such as hardwood, stone, or ceramic tiles makes it an appealing option for consumers and businesses, especially for those who operate within tight budget constraints. LVT offer a lower initial purchase price and deliver long-term value through their durability and low maintenance requirements. The ease of installation further enhances its cost-effectiveness, as the straightforward click-and-lock or adhesive installation methods reduce labor costs and construction timelines. This is particularly advantageous for large-scale projects where minimizing labor expenses is critical for staying within budget. Moreover, the long-term durability of LVT flooring contributes to its cost-effectiveness by minimizing replacement and repair expenses over time. Its resistance to scratches, stains, and wear ensures that it maintains its appearance and functionality even in high-traffic areas, reducing the need for frequent repairs or replacements. The low maintenance requirements of LVT flooring, as it requires minimal cleaning and upkeep compared to other flooring materials, further result in cost savings for homeowners and businesses.
The customization options available with LVT flooring also allow consumers to achieve their desired aesthetic design without incurring high costs associated with customizing natural materials. Additionally, advancements in LVT technology have led to the development of energy-efficient and insulating variants, enhancing their cost-effectiveness by helping to regulate indoor temperatures and reduce energy bills. Thus, all these factors are driving the LVT flooring market growth.
The rising awareness of environmental issues has encouraged consumers to prioritize eco-friendly options, which is projected to impact their purchasing decisions. The negative perception of vinyl-based products, stemming from their association with nonrenewable resources and potential environmental drawbacks, dissuades environmentally conscious consumers from choosing LVT flooring. Additionally, stringent environmental regulations aimed at reducing pollution and promoting sustainability increase production costs and compliance burdens for LVT manufacturers, affecting pricing competitiveness. The disposal of vinyl-based material further increases environmental concerns, as the end-of-life management of vinyl-based products raises questions about landfill waste and pollution. Moreover, the competitive landscape is influenced by the availability of alternative flooring options, which are perceived as more environmentally friendly, intensifying competition and challenging the market positioning of LVT flooring. Thus, all these factors are projected to limit the LVT flooring market growth.
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LVT Flooring Market: Strategic Insights
Market Size Value in US$ 22.22 billion in 2023 Market Size Value by US$ 43.95 billion by 2031 Growth rate CAGR of 8.9% from 2023 to 2031 Forecast Period 2023-2031 Base Year 2023
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LVT Flooring Market: Strategic Insights
| Market Size Value in | US$ 22.22 billion in 2023 |
| Market Size Value by | US$ 43.95 billion by 2031 |
| Growth rate | CAGR of 8.9% from 2023 to 2031 |
| Forecast Period | 2023-2031 |
| Base Year | 2023 |
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Report Segmentation and Scope:
The "Global LVT Flooring Market Analysis to 2031" is a specialized and in-depth study with a major focus on market trends and growth opportunities across the globe. The report aims to provide an overview of the market with detailed market segmentation in terms of type and end user. The market has witnessed high growth in the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the consumption of luxury vinyl tile (LVT) flooring globally. In addition, the global LVT flooring market report provides a qualitative assessment of various factors affecting the market performance globally. The report also includes a comprehensive analysis of the leading players in the market and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, LVT flooring market trends, and lucrative opportunities that would, in turn, aid in identifying the major revenue pockets.
The LVT flooring market forecast is estimated on the basis of various secondary and primary research findings, such as key company publications, association data, and databases. Further, the ecosystem analysis and Porter's five forces analysis provide a 360-degree view of the market, which helps understand the entire supply chain and various factors affecting the market performance.
Segmental Analysis:
By type, the market is segmented into rigid and flexible. In terms of end user, the market is segmented into residential, commercial, and institutional. The commercial segment held a significant portion of the LVT flooring market share in 2023. Luxury vinyl tile flooring is used in commercial spaces such as offices, hotels, and shopping malls. These floorings are made of engineered products rather than natural materials to obtain more durability. Retail stores have embraced luxury vinyl tile flooring due to its aesthetic appeal and low maintenance. Design options in luxury vinyl tile flooring allow retailers to create a unique atmosphere that aligns with their brand.
In contrast, the durability ensures that the flooring can withstand high foot traffic. The flooring in office spaces requires a sophisticated appearance, including aesthetics, functionality, and durability, which the installation of luxury vinyl tile flooring can fulfill. The availability of luxury vinyl tile flooring in various looks from traditional hardwood or stone offers long-lasting solutions with wear and tear resistance. Moreover, hotels, restaurants, and other hospitality businesses choose luxury vinyl tile flooring in the lobby, guest rooms, and dining areas due to its stylish look and ability to endure constant use. Thus, all these factors are driving the LVT flooring market for the commercial segment.
Regional Analysis:
The market scope focuses on five key regions—North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. In terms of revenue, Asia Pacific dominated the LVT flooring market share, which accounted for ~US$ 7.5 billion in 2023. The rising urbanization rates have surged construction activities, particularly in the commercial and residential sectors. This, in turn, has accelerated the demand for modern and stylish flooring solutions. Moreover, rising disposable income levels across Asia Pacific have empowered consumers to invest more in enhancing their living spaces. As a result, there has been a growing preference for premium and aesthetically pleasing flooring options such as LVT.
LVT flooring, with its water-resistant properties and resilience to wear and tear, has emerged as a popular choice for both residential and commercial applications in the region. Furthermore, the hospitality sector in Asia Pacific plays a pivotal role in driving the luxury vinyl tile (LVT) flooring market growth. The Asia Pacific's hospitality sector, including hotels, resorts, and luxury accommodation facilities, focuses primarily on aesthetics, durability, and ease of maintenance, making LVT an ideal flooring solution to meet these requirements. Thus, all these factors are driving the market in Asia Pacific.
Europe is expected to register a CAGR of over 8% from 2023 to 2031 in the LVT flooring market. The demand for LVT flooring is rising among European consumers due to its durability, ease of maintenance, and aesthetic appeal. This trend is particularly pronounced in Germany, the UK, France, and the Nordic countries, where homeowners, renovators, and businesses seek high-quality, long-lasting flooring solutions. For instance, according to the European Commission, the value of residential renovation in Europe reached ~US$ 498.5 billion in the year 2023. Additionally, the construction revenue in Europe was valued at approximately US$ 1.45 trillion in 2023. The versatility of LVT, which can replicate the look of natural materials such as hardwood and stone, appeals to European consumers who value both style and practicality in their flooring choices. Regulatory standards and environmental concerns also influence the Europe LVT flooring market. With the EU placing greater emphasis on sustainability and eco-friendliness, manufacturers are under pressure to produce LVT flooring that meets stringent environmental standards. This has led to the development of eco-friendly LVT products that are made from recycled materials and feature low VOC emissions, catering to environmentally conscious consumers in Europe.
Industry Developments and Future Opportunities:
A few initiatives taken by the key players operating in the LVT flooring market are listed below:
- In January 2024, Gerflor unveiled two new lines of Luxury Vinyl Tile (LVT) named Creation WellPoint and Creation GuidePoint, manufactured in the US for healthcare and education sector.
- In July 2023, AHF Products introduced a US-made luxury vinyl line, Armstrong Flooring's American Personality PRO. The products come with the signature Armstrong Flooring Diamond 10 Technology for durability.
- In October 2023, Tarkett, a manufacturer of sustainable flooring solutions, launched its high-performing, premium Contour LVT offerings with two new design collections: Collaborative and Mindful Maker.
Competitive Landscape and Key Companies:
Wedge Industries Ltd, Mohawk Industries Inc, Tarkett, Shaw Industries Group Inc, Interface Inc, AHF LLC, Gerflor SAS, Congoleum, Mannington Mills Inc, and Forbo Holding AG are among the key players profiled in the LVT flooring market report. The global market players focus on providing high-quality products to fulfill customer demand.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
A few players operating in the global LVT flooring market include Wedge Industries Ltd, Mohawk Industries Inc, Tarkett, Shaw Industries Group Inc, Interface Inc, AHF LLC, Gerflor SAS, Congoleum, Mannington Mills Inc, and Forbo Holding AG.
In 2023, Asia Pacific held the largest share of the global LVT flooring market. The rising urbanization rates have surged construction activities, particularly in the commercial and residential sectors. This, in turn, has accelerated the demand for modern and stylish flooring solutions. Moreover, rising disposable income levels across Asia Pacific have empowered consumers to invest more in enhancing their living spaces. As a result, there has been a growing preference for premium and aesthetically pleasing flooring options such as LVT. All these factors led to the dominance of the Asia Pacific region in 2023.
The mineral oil segment held the largest share in the global LVT flooring market in 2023. Rigid luxury vinyl tile (LVT) flooring is made from a rigid core layer of composite material, such as stone polymer or wood polymer, sandwiched between two vinyl layers. Rigid luxury vinyl tiles, also known as floating or interlocking LVT, are designed to be installed without adhesive. The rigid core layer provides additional strength and stability to luxury vinyl tiles, making them suitable for high-traffic areas and busy homes. Rigid LVT can be installed over various subfloors, including concrete, ceramic tile, and even existing vinyl flooring, making it a preferable option for renovations and remodels. Several rigid core luxury vinyl tiles have a built-in underlayment that offers additional cushioning, making the flooring more comfortable to walk on and reducing the impact of foot traffic. These factors led to the dominance of the rigid segment in 2023.
The residential segment held the largest share of the global LVT flooring market in 2023. Luxury vinyl tiles are an ideal choice for areas such as the living room, dining room, and bedrooms. The comfortable underfoot and easy-to-clean characteristics of luxury vinyl tiles make it a perfect fit for household spaces. Luxury vinyl tile flooring is also best suited for basement spaces to withstand moisture and temperature fluctuations. It acts as an efficient alternative to traditional concrete floors in providing a warmer and more comfortable environment in households. All these factors led to the dominance of residential segment in 2023.
The commercial segment is expected to register the highest CAGR in the LVT flooring market from 2023 to 2031. Luxury vinyl tile flooring is used in commercial spaces such as offices, hotels, and shopping malls. These floorings are made of engineered products rather than natural materials to obtain more durability. Retail stores have embraced luxury vinyl tile flooring due to its aesthetic appeal and low maintenance. Design options in luxury vinyl tile flooring allow retailers to create a unique atmosphere that aligns with their brand. The flooring in office spaces requires a sophisticated appearance, including aesthetics, functionality, and durability, which the installation of luxury vinyl tile flooring can fulfill. The availability of luxury vinyl tile flooring in various looks from traditional hardwood or stone offers long-lasting solutions with wear and tear resistance. Moreover, hotels, restaurants, and other hospitality businesses choose luxury vinyl tile flooring in the lobby, guest rooms, and dining areas due to its stylish look and ability to endure constant use. All these factors are expected to drive the commercial segment growth from 2023 to 2031.
The affordability of luxury vinyl tiles (LVT) flooring compared to natural materials such as hardwood, stone, or ceramic tiles makes it an appealing option for consumers and businesses, especially for those who operate within tight budget constraints. Luxury vinyl tiles (LVT) offer a lower initial purchase price and deliver long-term value through their durability and low maintenance requirements. The ease of installation further enhances its cost-effectiveness, as the straightforward click-and-lock or adhesive installation methods reduce labor costs and construction timelines. This is particularly advantageous for large-scale projects where minimizing labor expenses is critical for staying within budget. Moreover, the long-term durability of luxury vinyl tiles (LVT) flooring contributes to its cost-effectiveness by minimizing replacement and repair expenses over time. Its resistance to scratches, stains, and wear ensures that it maintains its appearance and functionality even in high-traffic areas, reducing the need for frequent repairs or replacements. The low maintenance requirements of luxury vinyl tiles (LVT) flooring, as it requires minimal cleaning and upkeep compared to other flooring materials, further result in cost savings for homeowners and businesses. All these factors drive the LVT flooring market growth.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
3.4 Limitations and Assumptions
4. LVT Flooring Market Landscape
4.1 Overview
4.2 Porter’s Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.1 Threat of New Entrants
4.2.2 Intensity of Competitive Rivalry
4.2.3 Threat of Substitutes
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers
4.3.2 Manufacturers
4.3.3 Distributors/Suppliers
4.3.4 End Users
4.3.5 List of Vendors in the Value Chain
5. LVT Flooring Market – Key Market Dynamics
5.1 LVT Flooring Market – Key Market Dynamics
5.2 Market Drivers
5.2.1 Growing Residential Construction
5.2.2 Cost-Effectiveness of Luxury Vinyl Tiles (LVT) Flooring
5.3 Market Restraints
5.3.1 Environmental Concerns
5.4 Market Opportunities
5.4.1 Expansion of Commercial Sector
5.5 Future Trends
5.5.1 Technological Advancements
5.6 Impact of Drivers and Restraints:
6. LVT Flooring Market – Global Market Analysis
6.1 LVT Flooring Market Volume (Million Sq. Meter), 2020–2031
6.2 LVT Flooring Market Volume Forecast and Analysis (Million Sq. Meter)
6.3 LVT Flooring Market Revenue (US$ Million), 2020–2031
6.4 LVT Flooring Market Forecast and Analysis
7. LVT Flooring Market Volume and Revenue Analysis – by Type
7.1 Rigid
7.1.1 Overview
7.1.2 Rigid: LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
7.1.3 Rigid: LVT Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter)
7.2 Flexible
7.2.1 Overview
7.2.2 Flexible: LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
7.2.3 Flexible: LVT Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter)
8. LVT Flooring Market Revenue Analysis – by End User
8.1 Residential
8.1.1 Overview
8.1.2 Residential: LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
8.2 Commercial
8.2.1 Overview
8.2.2 Commercial: LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
8.3 Institutional
8.3.1 Overview
8.3.2 Institutional: LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9. LVT Flooring Market – Geographical Analysis
9.1 Overview
9.2 North America
9.2.1 North America LVT Flooring Market Overview
9.2.2 North America LVT Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter)
9.2.3 North America LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.2.4 North America LVT Flooring Market Breakdown by Type
9.2.4.1 North America LVT Flooring Market Volume and Forecast and Analysis – by Type
9.2.4.2 North America LVT Flooring Market Revenue and Forecast and Analysis –by Type
9.2.5 North America LVT Flooring Market Breakdown by End User
9.2.5.1 North America LVT Flooring Market Revenue and Forecast and Analysis –by End User
9.2.6 North America LVT Flooring Market Revenue and Forecast and Analysis – by Country
9.2.6.1 North America LVT Flooring Market Volume and Forecast and Analysis – by Country
9.2.6.2 North America LVT Flooring Market Revenue and Forecast and Analysis –by Country
9.2.6.3 United States LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.2.6.3.1 United States LVT Flooring Market Breakdown by Type
9.2.6.3.2 United States LVT Flooring Market Breakdown by End User
9.2.6.4 Canada LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.2.6.4.1 Canada LVT Flooring Market Breakdown by Type
9.2.6.4.2 Canada LVT Flooring Market Breakdown by End User
9.2.6.5 Mexico LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.2.6.5.1 Mexico LVT Flooring Market Breakdown by Type
9.2.6.5.2 Mexico LVT Flooring Market Breakdown by End User
9.3 Europe
9.3.1 Europe LVT Flooring Market Overview
9.3.2 Europe LVT Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter)
9.3.3 Europe LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.3.4 Europe LVT Flooring Market Breakdown by Type
9.3.4.1 Europe LVT Flooring Market Volume and Forecast and Analysis – by Type
9.3.4.2 Europe LVT Flooring Market Revenue and Forecast and Analysis –by Type
9.3.5 Europe LVT Flooring Market Breakdown by End User
9.3.5.1 Europe LVT Flooring Market Revenue and Forecast and Analysis –by End User
9.3.6 Europe LVT Flooring Market Revenue and Forecast and Analysis – by Country
9.3.6.1 Europe LVT Flooring Market Volume and Forecast and Analysis – by Country
9.3.6.2 Europe LVT Flooring Market Revenue and Forecast and Analysis –by Country
9.3.6.3 Germany LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.3.6.3.1 Germany LVT Flooring Market Breakdown by Type
9.3.6.3.2 Germany LVT Flooring Market Breakdown by End User
9.3.6.4 France LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.3.6.4.1 France LVT Flooring Market Breakdown by Type
9.3.6.4.2 France LVT Flooring Market Breakdown by End User
9.3.6.5 United Kingdom LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.3.6.5.1 United Kingdom LVT Flooring Market Breakdown by Type
9.3.6.5.2 United Kingdom LVT Flooring Market Breakdown by End User
9.3.6.6 Italy LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.3.6.6.1 Italy LVT Flooring Market Breakdown by Type
9.3.6.6.2 Italy LVT Flooring Market Breakdown by End User
9.3.6.7 Russia LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.3.6.7.1 Russia LVT Flooring Market Breakdown by Type
9.3.6.7.2 Russia LVT Flooring Market Breakdown by End User
9.3.6.8 Rest of Europe LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.3.6.8.1 Rest of Europe LVT Flooring Market Breakdown by Type
9.3.6.8.2 Rest of Europe LVT Flooring Market Breakdown by End User
9.4 Asia Pacific
9.4.1 Asia Pacific LVT Flooring Market Overview
9.4.2 Asia Pacific LVT Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter)
9.4.3 Asia Pacific LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.4.4 Asia Pacific LVT Flooring Market Breakdown by Type
9.4.4.1 Asia Pacific LVT Flooring Market Volume and Forecast and Analysis – by Type
9.4.4.2 Asia Pacific LVT Flooring Market Revenue and Forecast and Analysis –by Type
9.4.5 Asia Pacific LVT Flooring Market Breakdown by End User
9.4.5.1 Asia Pacific LVT Flooring Market Revenue and Forecast and Analysis –by End User
9.4.6 Asia Pacific LVT Flooring Market Revenue and Forecast and Analysis – by Country
9.4.6.1 Asia Pacific LVT Flooring Market Volume and Forecast and Analysis – by Country
9.4.6.2 Asia Pacific LVT Flooring Market Revenue and Forecast and Analysis –by Country
9.4.6.3 Australia LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.4.6.3.1 Australia LVT Flooring Market Breakdown by Type
9.4.6.3.2 Australia LVT Flooring Market Breakdown by End User
9.4.6.4 China LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.4.6.4.1 China LVT Flooring Market Breakdown by Type
9.4.6.4.2 China LVT Flooring Market Breakdown by End User
9.4.6.5 India LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.4.6.5.1 India LVT Flooring Market Breakdown by Type
9.4.6.5.2 India LVT Flooring Market Breakdown by End User
9.4.6.6 Japan LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.4.6.6.1 Japan LVT Flooring Market Breakdown by Type
9.4.6.6.2 Japan LVT Flooring Market Breakdown by End User
9.4.6.7 South Korea LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.4.6.7.1 South Korea LVT Flooring Market Breakdown by Type
9.4.6.7.2 South Korea LVT Flooring Market Breakdown by End User
9.4.6.8 Rest of APAC LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.4.6.8.1 Rest of APAC LVT Flooring Market Breakdown by Type
9.4.6.8.2 Rest of APAC LVT Flooring Market Breakdown by End User
9.5 Middle East and Africa
9.5.1 Middle East and Africa LVT Flooring Market Overview
9.5.2 Middle East and Africa LVT Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter)
9.5.3 Middle East and Africa LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.5.4 Middle East and Africa LVT Flooring Market Breakdown by Type
9.5.4.1 Middle East and Africa LVT Flooring Market Volume and Forecast and Analysis – by Type
9.5.4.2 Middle East and Africa LVT Flooring Market Revenue and Forecast and Analysis –by Type
9.5.5 Middle East and Africa LVT Flooring Market Breakdown by End User
9.5.5.1 Middle East and Africa LVT Flooring Market Revenue and Forecast and Analysis –by End User
9.5.6 Middle East and Africa LVT Flooring Market Revenue and Forecast and Analysis – by Country
9.5.6.1 Middle East and Africa LVT Flooring Market Volume and Forecast and Analysis – by Country
9.5.6.2 Middle East and Africa LVT Flooring Market Revenue and Forecast and Analysis –by Country
9.5.6.3 South Africa LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.5.6.3.1 South Africa LVT Flooring Market Breakdown by Type
9.5.6.3.2 South Africa LVT Flooring Market Breakdown by End User
9.5.6.4 Saudi Arabia LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.5.6.4.1 Saudi Arabia LVT Flooring Market Breakdown by Type
9.5.6.4.2 Saudi Arabia LVT Flooring Market Breakdown by End User
9.5.6.5 United Arab Emirates LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.5.6.5.1 United Arab Emirates LVT Flooring Market Breakdown by Type
9.5.6.5.2 United Arab Emirates LVT Flooring Market Breakdown by End User
9.5.6.6 Rest of Middle East and Africa LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.5.6.6.1 Rest of Middle East and Africa LVT Flooring Market Breakdown by Type
9.5.6.6.2 Rest of Middle East and Africa LVT Flooring Market Breakdown by End User
9.6 South and Central America
9.6.1 South and Central America LVT Flooring Market Overview
9.6.2 South and Central America LVT Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter)
9.6.3 South and Central America LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.6.4 South and Central America LVT Flooring Market Breakdown by Type
9.6.4.1 South and Central America LVT Flooring Market Volume and Forecast and Analysis – by Type
9.6.4.2 South and Central America LVT Flooring Market Revenue and Forecast and Analysis –by Type
9.6.5 South and Central America LVT Flooring Market Breakdown by End User
9.6.5.1 South and Central America LVT Flooring Market Revenue and Forecast and Analysis –by End User
9.6.6 South and Central America LVT Flooring Market Revenue and Forecast and Analysis – by Country
9.6.6.1 South and Central America LVT Flooring Market Volume and Forecast and Analysis – by Country
9.6.6.2 South and Central America LVT Flooring Market Revenue and Forecast and Analysis –by Country
9.6.6.3 Brazil LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.6.6.3.1 Brazil LVT Flooring Market Breakdown by Type
9.6.6.3.2 Brazil LVT Flooring Market Breakdown by End User
9.6.6.4 Argentina LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.6.6.4.1 Argentina LVT Flooring Market Breakdown by Type
9.6.6.4.2 Argentina LVT Flooring Market Breakdown by End User
9.6.6.5 Rest of South and Central America LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.6.6.5.1 Rest of South and Central America LVT Flooring Market Breakdown by Type
9.6.6.5.2 Rest of South and Central America LVT Flooring Market Breakdown by End User
10. Competitive Landscape
10.1 Heat Map Analysis by Key Players
10.2 Company Positioning & Concentration
11. Industry Landscape
11.1 Overview
11.2 New Product Development
11.3 Merger and Acquisition
12. Company Profiles
12.1 Wedge Industries Ltd
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Mohawk Industries Inc
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Tarkett
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Shaw Industries Group Inc
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Interface Inc
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 AHF LLC
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Gerflor SAS
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Congoleum
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Mannington Mills Inc
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Forbo Holding AG
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
List of Tables
Table 1. LVT Flooring Market Segmentation
Table 2. List of Vendors
Table 3. LVT Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter)
Table 4. LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Table 5. LVT Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter) – by Type
Table 6. LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 7. LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 8. North America LVT Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter) – by Type
Table 9. North America LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 10. North America LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 11. North America LVT Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter) – by Country
Table 12. North America LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Country
Table 13. United States LVT Flooring Market –Volume and Forecast to 2031 (Million Sq. Meter) – by Type
Table 14. United States LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 15. United States LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 16. Canada LVT Flooring Market –Volume and Forecast to 2031 (Million Sq. Meter) – by Type
Table 17. Canada LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 18. Canada LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 19. Mexico LVT Flooring Market –Volume and Forecast to 2031 (Million Sq. Meter) – by Type
Table 20. Mexico LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 21. Mexico LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 22. Europe LVT Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter) – by Type
Table 23. Europe LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 24. Europe LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 25. Europe LVT Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter) – by Country
Table 26. Europe LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Country
Table 27. Germany LVT Flooring Market –Volume and Forecast to 2031 (Million Sq. Meter) – by Type
Table 28. Germany LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 29. Germany LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 30. France LVT Flooring Market –Volume and Forecast to 2031 (Million Sq. Meter) – by Type
Table 31. France LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 32. France LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 33. United Kingdom LVT Flooring Market –Volume and Forecast to 2031 (Million Sq. Meter) – by Type
Table 34. United Kingdom LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 35. United Kingdom LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 36. Italy LVT Flooring Market –Volume and Forecast to 2031 (Million Sq. Meter) – by Type
Table 37. Italy LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 38. Italy LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 39. Russia LVT Flooring Market –Volume and Forecast to 2031 (Million Sq. Meter) – by Type
Table 40. Russia LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 41. Russia LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 42. Rest of Europe LVT Flooring Market –Volume and Forecast to 2031 (Million Sq. Meter) – by Type
Table 43. Rest of Europe LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 44. Rest of Europe LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 45. Asia Pacific LVT Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter) – by Type
Table 46. Asia Pacific LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 47. Asia Pacific LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 48. Asia Pacific LVT Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter) – by Country
Table 49. Asia Pacific LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Country
Table 50. Australia LVT Flooring Market –Volume and Forecast to 2031 (Million Sq. Meter) – by Type
Table 51. Australia LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 52. Australia LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 53. China LVT Flooring Market –Volume and Forecast to 2031 (Million Sq. Meter) – by Type
Table 54. China LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 55. China LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 56. India LVT Flooring Market –Volume and Forecast to 2031 (Million Sq. Meter) – by Type
Table 57. India LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 58. India LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 59. Japan LVT Flooring Market –Volume and Forecast to 2031 (Million Sq. Meter) – by Type
Table 60. Japan LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 61. Japan LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 62. South Korea LVT Flooring Market –Volume and Forecast to 2031 (Million Sq. Meter) – by Type
Table 63. South Korea LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 64. South Korea LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 65. Rest of APAC LVT Flooring Market –Volume and Forecast to 2031 (Million Sq. Meter) – by Type
Table 66. Rest of APAC LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 67. Rest of APAC LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 68. Middle East and Africa LVT Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter) – by Type
Table 69. Middle East and Africa LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 70. Middle East and Africa LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 71. Middle East and Africa LVT Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter) – by Country
Table 72. Middle East and Africa LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Country
Table 73. South Africa LVT Flooring Market –Volume and Forecast to 2031 (Million Sq. Meter) – by Type
Table 74. South Africa LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 75. South Africa LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 76. Saudi Arabia LVT Flooring Market –Volume and Forecast to 2031 (Million Sq. Meter) – by Type
Table 77. Saudi Arabia LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 78. Saudi Arabia LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 79. United Arab Emirates LVT Flooring Market –Volume and Forecast to 2031 (Million Sq. Meter) – by Type
Table 80. United Arab Emirates LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 81. United Arab Emirates LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 82. Rest of Middle East and Africa LVT Flooring Market –Volume and Forecast to 2031 (Million Sq. Meter) – by Type
Table 83. Rest of Middle East and Africa LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 84. Rest of Middle East and Africa LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 85. South and Central America LVT Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter) – by Type
Table 86. South and Central America LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 87. South and Central America LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 88. South and Central America LVT Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter) – by Country
Table 89. South and Central America LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Country
Table 90. Brazil LVT Flooring Market –Volume and Forecast to 2031 (Million Sq. Meter) – by Type
Table 91. Brazil LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 92. Brazil LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 93. Argentina LVT Flooring Market –Volume and Forecast to 2031 (Million Sq. Meter) – by Type
Table 94. Argentina LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 95. Argentina LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 96. Rest of South and Central America LVT Flooring Market –Volume and Forecast to 2031 (Million Sq. Meter) – by Type
Table 97. Rest of South and Central America LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 98. Rest of South and Central America LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 99. Heat Map Analysis by Key Players
List of Figures
Figure 1. LVT Flooring Market Segmentation, by Geography
Figure 2. Porter’s Analysis
Figure 3. Ecosystem: Global Luxury Vinyl Tiles (LVT) Flooring Market
Figure 4. US Construction Spending
Figure 5. Impact Analysis of Drivers and Restraints
Figure 6. LVT Flooring Market Volume (Million Sq. Meter), 2020–2031
Figure 7. LVT Flooring Market Revenue (US$ Million), 2020–2031
Figure 8. LVT Flooring Market Share (%) – Type, 2023 and 2031
Figure 9. Rigid: LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 10. Rigid: LVT Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter)
Figure 11. Flexible: LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 12. Flexible: LVT Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter)
Figure 13. LVT Flooring Market Share (%) – End User, 2023 and 2031
Figure 14. Residential: LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 15. Commercial: LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 16. Institutional: LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 17. LVT Flooring Market Breakdown by Region, 2023 and 2031 (%)
Figure 18. North America LVT Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter)
Figure 19. North America LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 20. North America LVT Flooring Market Breakdown by Type (2023 and 2031)
Figure 21. North America LVT Flooring Market Breakdown by End User (2023 and 2031)
Figure 22. North America LVT Flooring Market Breakdown by Key Countries, 2023 and 2031 (%)
Figure 23. United States LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 24. Canada LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 25. Mexico LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 26. Europe LVT Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter)
Figure 27. Europe LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 28. Europe LVT Flooring Market Breakdown by Type (2023 and 2031)
Figure 29. Europe LVT Flooring Market Breakdown by End User (2023 and 2031)
Figure 30. Europe LVT Flooring Market Breakdown by Key Countries, 2023 and 2031 (%)
Figure 31. Germany LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 32. France LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 33. United Kingdom LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 34. Italy LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 35. Russia LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 36. Rest of Europe LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 37. Asia Pacific LVT Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter)
Figure 38. Asia Pacific LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 39. Asia Pacific LVT Flooring Market Breakdown by Type (2023 and 2031)
Figure 40. Asia Pacific LVT Flooring Market Breakdown by End User (2023 and 2031)
Figure 41. Asia Pacific LVT Flooring Market Breakdown by Key Countries, 2023 and 2031 (%)
Figure 42. Australia LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 43. China LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 44. India LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 45. Japan LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 46. South Korea LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 47. Rest of APAC LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 48. Middle East and Africa LVT Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter)
Figure 49. Middle East and Africa LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 50. Middle East and Africa LVT Flooring Market Breakdown by Type (2023 and 2031)
Figure 51. Middle East and Africa LVT Flooring Market Breakdown by End User (2023 and 2031)
Figure 52. Middle East and Africa LVT Flooring Market Breakdown by Key Countries, 2023 and 2031 (%)
Figure 53. South Africa LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 54. Saudi Arabia LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 55. United Arab Emirates LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 56. Rest of Middle East and Africa LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 57. South and Central America LVT Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter)
Figure 58. South and Central America LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 59. South and Central America LVT Flooring Market Breakdown by Type (2023 and 2031)
Figure 60. South and Central America LVT Flooring Market Breakdown by End User (2023 and 2031)
Figure 61. South and Central America LVT Flooring Market Breakdown by Key Countries, 2023 and 2031 (%)
Figure 62. Brazil LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 63. Argentina LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 64. Rest of South and Central America LVT Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 65. Company Positioning & Concentration
The List of Companies - LVT Flooring Market
- Wedge Industries Ltd
- Mohawk Industries Inc.
- Tarkett
- Shaw Industries Group Inc.
- Interface Inc.
- AHF LLC
- Gerflor SAS
- Congoleum
- Mannington Mills Inc.
- Forbo Holding AG
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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