Carpet Industry Size In India

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.

Carpet industry size in india.

Around 75 85 per cent of carpets manufactured in india are exported. 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. Despite this the carpet industry in india grew with a cagr of 1. The domestic availability and quality of native wool is a matter of concern.

Purchase the carpets and rugs in india country report as part of our textile and leather products market research for february 2019. The history of indian carpets entails that when babar came to india he was disappointed by the lack of. Euromonitor international is the leading provider of strategic market research reports. 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.

Carpet industry in india is one of the oldest and the most popular industries. 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. 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. Today india is the world s largest producer and exporter of handmade carpets in terms of value and volume.

About half of the wool produced is. 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. Besides export prospects of carpets basically depend on overseas demand and domestic supply potential. Carpet weaving is an ancient indian tradition with the industry flourishing in the country 16th century onwards.

Employing over 2 million weavers it is an old and well established decentralised sector employing over 2 million weavers. The cleaning industry is packed with opportunities an earlier forecast reflected that the industry will earn over 46 billion dollars in 2020 and grow 10 by 2026. 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.