Luxury Vinyl Tiles (LVT) Flooring Market Scope
The report Luxury Vinyl Tiles (LVT) Flooring Market by Type (Rigid, Flexible), End-Use Sector (Residential, Non-residential), and Region (North America, Asia Pacific, Europe, Middle East & Africa, and South America) - Global Forecast to 2024. Luxury Vinyl Tiles (LVT) Flooring Market 2023 Building & Construction Technology, SWOT Analysis By Size, Trends, Growth, Share, Key Players, Mergers, Competitive Landscape and Opportunity Forecast 2024 with Fastest Growing Regions and Countries Data.
The Luxury Vinyl Tiles (LVT) Flooring Market is projected to grow from USD 18.0 billion in 2019 to USD 31.8 billion by 2024, recording a CAGR of 11.7% from 2019 to 2024.
The Luxury Vinyl Tiles (LVT) Flooring Market Research 2023 provides deep insights into prosperous growth opportunities, trends, and challenges. It highlights current and futuristic market scenarios, specific growth patterns, and business development plans for the top manufacturers. Luxury Vinyl Tiles (LVT) Flooring market report focuses on the supply-demand scenario, import-export status, production and consumption demand with respect to all industry segments. Furthermore, the report covers geographical segmentations and upcoming marketing strategies followed by top key players. It also covers new techniques, investments plan, and qualitative research for the forecast period.
Luxury Vinyl Tiles (LVT) Flooring Market Drivers & Restraints
Drivers:
PDF Download: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=105150640
Restraints:
Browse in-depth TOC on "Luxury Vinyl Tiles (LVT) Flooring Market"
137- Tables
32 - Figures
146 - Pages
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/lvt-flooring-market-105150640.html
Luxury Vinyl Tiles (LVT) Flooring Market Key Players
Luxury Vinyl Tiles (LVT) Flooring Market Segmentation
On the basis of type
On the basis of End-use industry
In terms of volume, the residential segment leads the luxury vinyl tiles (LVT) flooring market in 2019.
Luxury vinyl tiles (LVT) enhances the aesthetic appeal of a building, along with properties such as durability, comfort, and protection from extreme weather conditions. These factors are also projected to drive the residential sector during the forecast period. In addition, the rise in housing renovations and maintenance is further projected to drive the demand for luxury vinyl tiles in the residential sector.
The use of LVT flooring solutions in residential buildings also enhances the aesthetic appeal and provides durability and comfort. Luxury vinyl tiles are preferred for bathrooms, kitchens, laundry rooms, and basements, due to their waterproof features. Further, LVTs don't trap dust and pet dander in the bedrooms. All these factors are projected to drive the demand for LVT flooring solutions in the residential sector.
Speak to our Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=105150640
On the basis of Region
The luxury vinyl tiles flooring industry is projected to grow in parallel to the growth of the construction industry across the globe. Factors such as the increase in the residential and non-residential constructions, innovation in flooring solutions, rising number of remodeling projects, along with a high demand for durable LVTs that can withstand various weathering actions and resist chemical attacks & deterioration are factors expected to support the market growth during the forecast period.
In terms of value and volume, the flexible segment is estimated to lead the luxury vinyl tiles (LVT) flooring market in 2019.
The flexible segment accounted for a larger share, on the basis of type, in the luxury vinyl tiles flooring market as it is affordable and is installed in regions that have extreme weather conditions. It is a traditional glue-down flooring material that inherits several properties such as durability, flexibility, ease installation, and budget-friendly. The growth of the flexible segment remains high due to its properties, which makes it a preferred LVT flooring solution for the residential as well as commercial application. The flexible LVT flooring solutions are considered suitable for almost all applications such as residential and commercial.
The Asia Pacific region is projected to account for the largest share in the luxury vinyl tiles (LVT) flooring market during the forecast period
The Asia Pacific region is projected to dominate the Luxury Vinyl Tiles (LVT) Flooring Market, in terms of both value and volume, during the forecast period. Factors such as the increasing number of new housing units and huge investments in the infrastructural sector are projected to drive the luxury vinyl tiles (LVT) flooring industry growth in the Asia Pacific region. In addition, increasing demand in countries such as China, Australia, India, Japan, Thailand, Vietnam, and Indonesia, due to the increasing growth opportunities in these countries has driven the market for LVT flooring.
Get 10% Free Customization on This Report @ https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=105150640
Luxury Vinyl Tiles (LVT) Flooring Market Key Points:
Reasons for Buying this Report
*** Also Browse Trending Report of MNM ***
About MarketsandMarkets™
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]
