Research Methodology on Carpet & Rugs Market
1. Introduction
The Market Research Future’s report on the carpet and rugs market aims to provide an in-depth understanding of the major trends, drivers, and challenges affecting the market. The purpose of this study is to assess the global market for carpets and rugs and to forecast its growth trajectory in terms of volume and value.
The study is based on secondary data sources as well as primary data sources captured through interviews and surveys. It also includes a detailed market overview, market segmentation, competitive landscape, and market dynamics.
2. Scope of the Report
The report covers a comprehensive analysis of the global carpet and rug market. It focuses on major market segments such as product types, sizes, materials, applications, regions, and end-users. The study also includes Porter's Five Forces analysis and PESTLE analysis to provide an in-depth understanding of the factors affecting the market.
3. Research Methodology
The research methodology employed for this project comprises a combination of primary and secondary research. The following research objectives were mapped out:
- To understand the market dynamics of the global carpet and rugs market.
- To assess the size and value of the carpet and rug market on a global basis.
- To identify the major trends, drivers, and challenges impacting the market.
- To analyze the regional markets and identify their respective market dynamics.
- To profile the key players in the market and assess their competitive landscape.
- To identify the opportunities and threats faced by the market players.
The primary research is undertaken through a series of in-depth interviews and surveys with industry specialists, senior professionals, and potential consumers. The key stakeholders of the carpet and rug market are identified, and interviews with them are conducted to capture the data points critical to this study.
The secondary research is conducted by an extensive search of relevant journals, trade publications, industry sources, and other public and private information sources. While primary research sources provide expert opinions and qualitative data, secondary research sources help to obtain quantitative data and corroborate the primary research findings.
4. Data Sources
The research data sources are divided into two parts: primary and secondary. The primary data sources comprise in-depth interviews and surveys with industry specialists and potential consumers of carpets and rugs. The secondary sources include a wide range of industry sources such as news articles, blogs, reports published by industry associations, and annual reports of the key players. Additionally, statistical data from private and public databases was also tapped for this study.
5. Socio Economic and Secondary Data Analysis
A comprehensive socio-economic analysis is conducted to understand the key factors influencing the carpet and rug market, as well as the potential impact of such factors on future market developments. Additionally, a comprehensive secondary data analysis of related construction and real estate sectors is also conducted to gain an understanding of the movements in the carpet and rug industry.
6. Market Categorization
The global market for carpets and rugs is divided into four major segments based on product type, size, material, and region. Further segmentation is based on the product type as carpets, rugs, and doormats. The size of the carpets and rugs ranges from 2 to 6 feet, while the material segments are divided between natural fibres (e.g. wool) and synthetic fibres (e.g. nylon, polypropylene, and others). The geographic segments for this study include North America, Europe, Asia-Pacific, the Middle East & Africa, and the Latin America region.
7. Assumptions
For this research, some assumptions are made such as:
- Increase in population, development in the economy of developing countries, and high disposable incomes will drive the demand for carpets and rugs.
- Increase in industrialization will fuel the demand for carpets and rugs for commercial applications such as offices, hotels, etc.
- Rising preference for eco-friendly carpets and rugs will drive the growth of the global market.
8. Market Estimation
The market size is estimated by the triangulation method. It is done by providing an assessment of data points collected through primary and secondary research. The data points include vital qualitative and quantitative information such as revenue estimations, market share, market dynamics, growth rates, and regional trends. The data and information collected is then used to estimate the market size of the global carpet and rugs market.
