Carpet Industry Size In India

This measurement can be used as a benchmark for determining whether fluctuations in an individual company s market share are caused by its own performance or are the result of changes in the size of the entire industry.

Carpet industry size in india.

12 2017 prnewswire demand for carpets and rugs in india is forecast to grow 5 9 per year to 120 million square meters in 2021 expanding faster than any other major nation. Today india is the world s largest producer and exporter of handmade carpets in terms of value and volume. Employing over 2 million weavers it is an old and well established decentralised sector employing over 2 million weavers. Despite this the carpet industry in india grew with a cagr of 1.

More than 1 7 million people are currently employed in the cleaning industry yet it is still forecasted to spur a 6 year on year growth in new jobs. Growing application of the product in residential and non residential sectors on account of its high market visibility for soft flooring products and good insulation properties such as floor insulation is projected to positively influence the growth. Euromonitor international is the leading provider of strategic market research reports. The cleaning industry is packed with opportunities an earlier forecast reflected that the industry will earn over 46 billion dollars in 2020 and grow 10 by 2026.

The domestic availability and quality of native wool is a matter of concern. The indian carpet industry during the post independence era has witnessed an export led growth. The history of indian carpets entails that when babar came to india he was disappointed by the lack of. Around 75 85 per cent of carpets manufactured in india are exported.

India has always had an ancient heritage of carpet weaving a craft that has various skill and expertise from lands as various as persia china and afghanistan. Market size is the total revenue for the rug carpet manufacturing industry. Purchase the carpets and rugs in india country report as part of our textile and leather products market research for february 2019. The indian carpet industry is an export oriented industry and the economic recession in western countries resulted in a fluctuation in exports of carpets from india.

Carpet industry in india is one of the oldest and the most popular industries. Besides export prospects of carpets basically depend on overseas demand and domestic supply potential. Carpet weaving is an ancient indian tradition with the industry flourishing in the country 16th century onwards.