Germany constitutes a major share of the resilient floor covering market in the Western European Union. The Germany resilient flooring market is expected to register a CAGR of greater than 10% during the forecast period, 2021-2026.
Due to COVID-19, the industry is experiencing a strong slowdown in the economy, which restricted the construction of housing and building projects, thus affecting the market for resilient floor coverings. The lockdown restrictions have also limited the new purchases of resilient flooring in Germany. It is anticipated to bounce back during the forecast period (2021-2026) with the changing situations and customers' approach toward the pandemic.
The market for resilient floor coverings is mature and recorded stable growth during the study period, owing to the slowdown of the economy, which led to weak real estate and construction activities. The most important factor driving the growth of the resilient flooring market is the availability of these flooring at economic prices. Resilient flooring is considerably durable and easier to afford in do-it-yourself (DIY) traditions. Thus, the majority consumer group prefers products that are cost-effective, easy to install, and do not involve more timelines. Even though a progression of dedicated online players is shaping the distribution channel in the country, a trend of going to the store is still dominating the market, as most consumers still prefer to go to a specialist store to speak to an expert, to seek help through recommendations, and to physically witness the product before making a purchase.
Resilient flooring material is a blend of synthetic and natural materials. It was primarily designed for commercial spaces, and this has been the result of the research and development to produce and introduce product ranges that are more durable, lightweight, and more natural-looking. Such features and properties of the material have been making it popular for applications in the residential sector as well. Technological advancements and product innovations and developments by resilient flooring manufacturers, higher preference for economical, comfortable, and lightweight and durable flooring materials, and need for better aesthetics in home and commercial settings are among other factors driving the market. As a result of various above-mentioned factors, revenue from the Germany resilient flooring market is projected to register a substantially high growth rate during the forecast period.
Key Market Trends
Rapid Growth in the Construction Industry and Increasing Infrastructure Activities are the Key Factors for Growth
The building construction industry in Germany has been growing and contributes the largest share in the European Union. The revenue from the building construction industry records a growth rate of 3-4% year-on-year. The high level of specialization in niches, for example, the fields of acoustic and prefabricated construction systems, is helping the market grow, and it is driving the market for floor covering across the country. The building construction industry generated USD 96.12 billion during 2018, and it has been recording increasing shares of revenue.
The Resilient Floor Covering Segment is Gaining More Significance
A major shift from the traditional floor coverings was observed in Germany during the study period. With the gradual increase in the aging population, the younger generation is looking for more modernized solutions. The vibrant color combinations, which easily get on with the interiors, are gaining more significance. Furthermore, they are estimated to grow during the forecast period. With the evolving German society, there is a significant loss of interest, especially in flooring types, such as carpets. Furthermore, the wooden flooring segment recorded a negative growth trend.
The report covers major international players operating in the Germany resilient flooring market. In terms of market share, few of the major players currently dominate the market. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping into new markets.
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TABLE OF CONTENTS
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS AND DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.3 Market Restraints
- 4.4 Value Chain/Supply Chain Analysis
- 4.5 Porter's Five Forces Analysis
- 4.5.1 Threat of New Entrants
- 4.5.2 Bargaining Power of Buyers/Consumers
- 4.5.3 Bargaining Power of Suppliers
- 4.5.4 Threat of Substitute Products
- 4.5.5 Intensity of Competitive Rivalry
- 4.6 Impact of COVID-19 on the Market
5 MARKET SEGMENTATION
- 5.1 By Product Type
- 5.1.1 LVT
- 5.1.2 Vinyl Sheets
- 5.1.3 Linoluem
- 5.1.4 Rubber
- 5.1.5 Fiberglass
- 5.1.6 Other Product Types
- 5.2 By End User
- 5.2.1 Residential
- 5.2.2 Commercial
- 5.3 By Distribution Channel
- 5.3.1 Offline Stores
- 5.3.2 Online Stores
6 COMPETITIVE LANDSCAPE
- 6.1 Company Profiles
- 6.1.1 Milliken Flooring
- 6.1.2 Forbo Flooring GmbH
- 6.1.3 PolyFlor
- 6.1.4 Nora Systems GmbH
- 6.1.5 Tarkett SA
- 6.1.6 Gerflor
- 6.1.7 mbb-Ihr Bodenausstatter GmbH
- 6.1.8 HARO Cork Floors
- 6.1.9 Altro Floors
- 6.1.10 Amtico International Germany
7 MARKET OPPORTUNITIES AND FUTURE TRENDS