Floor Covering - Morocco

Morocco

Highlights

In Morocco, the revenue in the Floor Covering market for the year 2024 reaches a staggering amount of US$10.28m.
This market segment is projected to experience a steady annual growth rate of 3.43% (CAGR 2024-2029).
When compared to other countries around Worldwide, United States takes the lead in terms of revenue generation, with an impressive figure of US$6bn in 2024.
In relation to the total population, each individual in Morocco contributes US$0.27 in revenue for the year 2024.
The demand for traditional Moroccan rugs is on the rise, as consumers worldwide seek unique and culturally-rich floor coverings.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Floor Covering Market in DIY & Hardware Store Market in Morocco, though experiencing negligible growth, is impacted by various factors like increasing competition and limited consumer spending power causing a decrease in demand for new flooring projects.

Customer preferences: As DIY and home improvement projects continue to gain popularity in Morocco, consumers are increasingly prioritizing durable and functional floor coverings. This trend is further driven by the growing number of nuclear families, which typically opt for low-maintenance and cost-effective flooring options. Additionally, there is a growing preference for eco-friendly and sustainable materials, reflecting the country's increasing focus on environmental consciousness.

Trends in the market: In Morocco, the Floor Covering Market within the DIY & Hardware Store Market is experiencing a surge in demand for eco-friendly and sustainable flooring options. This trend is driven by increasing consumer awareness and a growing interest in environmentally-friendly products. As a result, more hardware stores are offering a wider range of eco-friendly flooring materials such as bamboo, cork, and reclaimed wood. This trend is expected to continue as consumers prioritize sustainable living and seek out greener home improvement options. This shift towards eco-friendly flooring also presents opportunities for industry stakeholders to differentiate their products and cater to the evolving preferences of the market.

Local special circumstances: In Morocco, the Floor Covering Market within the DIY & Hardware Store Market is heavily influenced by the country's geographical location as it sits at the crossroads between Europe and Africa. This has led to a unique blend of cultural influences, resulting in a diverse range of floor covering options. Additionally, the government's strict regulations on foreign imports have contributed to the growth of local manufacturers, who have developed high-quality and affordable floor coverings to cater to the local market. These factors have created a distinct market dynamic in Morocco, setting it apart from other floor covering markets.

Underlying macroeconomic factors: The Floor Covering Market within the DIY & Hardware Store Market in Morocco is heavily impacted by macroeconomic factors such as the country's economic stability, fiscal policies, and global economic trends. The performance of the market is closely tied to the overall economic health of the country, and any fluctuations in the economy can have a significant impact on consumer spending and the demand for floor covering products. Additionally, government initiatives and investments in infrastructure and construction projects also play a crucial role in driving the growth of the floor covering market in Morocco. Furthermore, with the country's rapidly growing population and increasing disposable incomes, there is a growing demand for home improvement and DIY products, which also contributes to the growth of the floor covering market within the DIY & Hardware Store Market.

Data coverage:

Data encompasses B2C enterprises. Figures are segmented by product type and consist of the following: Paint, Wallpaper & Supplies, Tools & Machines, Hardware and Building Materials, Lawn & Garden, Heating & Cooling, Bathroom Hardware, and Floor Covering.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as product value, import value, and export value to determine domestic supply. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing. The main drivers are turnover indices, GDP per capita, and consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.