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Floor Covering - Slovakia

Slovakia
  • In Slovakia, the Floor Covering market is projected to generate a revenue of US$8.92m in 2024.
  • It is anticipated that this market segment will experience an annual growth rate of 3.77% (CAGR 2024-2029).
  • When compared globally, United States leads in terms of revenue generation, reaching US$6bn in 2024.
  • Taking into account the total population, per person revenues of US$1.56 are expected in 2024.
  • Slovakia's floor covering market is experiencing a surge in demand for sustainable and eco-friendly materials.

Definition:

The Floor Covering market is centered on the need to cover floors with certain materials that provide, first and foremost, a visually appealing aesthetic to a room while also adding comfort. This market focuses on parquet panels that are typically made from hardwood such as oak, maple, or cherry and are sold in various forms such as solid or engineered hardwood. Parquet panels are characterized by a focus on durability, natural beauty, and design versatility making it a popular choice among homeowners and designers.

Additional Information:

The market comprises revenue and average revenue per capita data. Revenue refers to B2C sales and per capita figures take into account the whole population. Previously, this market included the Parquet Panel segment and Carpet & Rugs segment. The Carpet & Rugs segment now falls under our newly created Home Decor segment within the Furniture market. Therefore, this market only considers parquet panels but more segments will be added soon. For more information on the displayed data, click the info button on the right hand side of each box.

In-Scope

  • Parquet Panels

Out-Of-Scope

  • Carpet
  • Laminate
  • Tile
  • Vinyl
  • Installation services
Floor Covering: market data & analysis - Cover

Market Insights report

Floor Covering: market data & analysis

Study Details

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Notes: Data is shown using current exchange rates. The applied current exchange rates are displayed in the Key Market Indicators below.

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Sales Channels

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Floor Covering Market within the DIY & Hardware Store Market in Slovakia has seen minimal growth, influenced by factors like slow consumer spending and competition from traditional retailers.

    Customer preferences:
    As the DIY trend continues to gain momentum in Slovakia, consumers are increasingly looking for affordable and easy solutions for home improvement projects. This has led to a rising demand for cost-effective floor covering options within the hardware store market. Additionally, there is a noticeable shift towards eco-friendly and sustainable flooring materials, reflecting a growing concern for the environment among consumers. This trend is further amplified by younger generations, who prioritize environmentally responsible choices in their purchasing decisions.

    Trends in the market:
    In Slovakia, the Floor Covering Market within the DIY & Hardware Store Market is experiencing an increasing demand for eco-friendly and sustainable flooring options. This trend is driven by consumer awareness and government initiatives promoting green living. As a result, there is a rising availability of environmentally friendly products in the market, such as bamboo and cork flooring. This trend is expected to continue and have a significant impact on industry stakeholders, as they will need to adapt and offer more sustainable options to meet consumer demands. Additionally, this trend may also lead to increased competition among industry players, as consumers become more educated and selective about their flooring choices.

    Local special circumstances:
    In Slovakia, the Floor Covering Market within the DIY & Hardware Store Market is strongly influenced by the country's traditional emphasis on home improvement and DIY projects. The market is also impacted by the country's location and climate, as harsh winters and heavy foot traffic require durable and weather-resistant flooring options. Additionally, government regulations on building materials and environmental sustainability play a significant role in shaping the market, with consumers increasingly seeking eco-friendly and low-impact flooring options.

    Underlying macroeconomic factors:
    The Floor Covering Market within the DIY & Hardware Store Market in Slovakia is heavily influenced by macroeconomic factors such as the overall economic health of the country, consumer spending power, and government policies. With a stable and growing economy, Slovakia has witnessed an increase in consumer spending on home renovation and improvement projects, including floor coverings. Additionally, favorable government policies and investments in infrastructure have boosted the DIY & Hardware Store Market, leading to increased demand for floor covering products. However, global economic trends and fluctuations in exchange rates can also impact the market performance, affecting the pricing and availability of materials. Furthermore, the aging population and increasing awareness about environmental sustainability are driving the demand for eco-friendly floor coverings in Slovakia, aligning with the global trend towards sustainable living.

    Methodology

    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.

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    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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