US Hardwood Flooring Market Size Likely to Grows at a CAGR of 5.1% By 2033

The CMI Team’s most recent market research predicts that from 2024 to 2033, the US Hardwood Flooring Market will experience a CAGR of 5.1%. In 2024, the market size is projected to reach a valuation of USD 19,182.4 Million. By 2033, the valuation is anticipated to reach USD 30,014.3 Million.

US Custom Software Development Market: Growth Factors and Dynamics

• Renovation Demand and Higher Spending: Homeowners started upgrading different parts of their homes on more renovation projects for the improvement of the look as well as the worth of their properties. Hardwood flooring is one of the options as it lasts very long and never ages, and indeed for a very long time, the pandemic COVID-19 also rekindled the trend, especially with the onset of the lockdown period, when even more people were around their houses and wanted them to not just be cozy but also stylish places of abode. The varieties of styles and finishes allow homeowners to design their floors according to what they think is suitable for them, and this alone propels their demand.

• Eco-friendly Products Preference: Consumers are becoming increasingly ‘green conscious’ and demanding sustainable and eco-friendly flooring options. Hardwood floors, which are considered responsible from a source, are becoming the favorite market option. The manufacturers are responding to this with environmentally certified products, right from source to processing, specifically by way of the FSC-certified products. Low-VOC finishes and adhesives for installation also fit into this profile of raising indoor air quality awareness among those who are focused on health.

• Technological Advances: This was able to improve both the quality and durability of the engineered hardwood flooring owing to innovations in manufacturing processes. Advancement in technology makes hardwood floors more accessible and desirable to a wider market. Surface treatments and coatings are more resistant to scratches and moisture, allowing for the possible use of wood flooring in kitchens and bathrooms. Digital design technologies also make it possible for actual texture and pattern replication, thus expanding possibilities for homeowners..

• Urbanization and Residential Construction: The increase in urbanization and new residential construction projects in the United States is influencing the demand for hardwood flooring. The trend toward smaller, high-density living spaces is also fueling the growth of the market. Hardwood flooring is often preferred by urban developers, as it expands spaces, creating a seamless and spacious look to compact areas. Another thing is that open floor plans in new constructions are wonderfully supported by hardwood flooring, which provides a total and stylishly beautiful look to the entire interconnected area.

• Rising Disposable Income: If the disposable incomes of consumers are increasing, the same consumers would have more money to spend on good quality home enhancements, like hardwood flooring. The rising trends are more observed in upscale and luxurious housing classes. The value hardwood floors provide in the long term also, along with their aesthetic value, makes people spend a higher premium for them. Besides, the need to express personal style and fashion as well as to create an atmosphere that is specific to an individual encourages the consumer to opt for customized flooring products that suit their style and thus fosters market growth.

US Custom Software Development Market: Partnership and Acquisitions

• In 2023, Replit partnered with Google Cloud to integrate Google’s infrastructure, services, and AI models into Replit’s Ghostwriter AI tool. In return, Google Cloud and Workspace developers gain access to Replit’s collaborative coding platform. This collaboration aims to accelerate generative AI application development, supporting Replit’s mission to empower 1 billion software creators while emphasizing Google Cloud’s commitment to an open generative AI ecosystem.

• In 2023, Infopulse unveiled PACE Suite 6.1, a streamlined solution for application packaging management. This update simplifies scripting complexities, improves installation success rates, and ensures a uniform deployment process, aiming to enhance efficiency and user experience in software deployment workflows.

• In 2022, Capgemini partnered with Panasonic Automotive Systems Company of America to develop a new data ecosystem. Leveraging Capgemini’s proficiency in data migration and automotive connectivity, the collaboration facilitated Panasonic’s achievement of project objectives, highlighting Capgemini’s capability in client-focused solution delivery.

Report Scope

US Custom Software Development Market: COVID-19 Analysis

The COVID-19 pandemic has significantly impacted the US Custom Software Development Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

Positive Impact Covid-19

• Hiked Home Renovation: During lockdown, many people thought it was a good time to renovate their homes. They kicked off various home improvement projects requiring hardwood floors, thus hailing an increased demand in the same sector. This is because homeowners seek something that can last a while and, at the same time, is fashionable enough to give their houses an upgrade.

• Sale of Online Products: Because the majority of the consumers are deprived of the chance to shop in-store, there was a tendency to shift to shopping on the Internet for hardwood flooring. This increased the business’s ability to sell more online and opened the option of buying through selling commodities through e-commerce to other consumers.

• Eco-Friendly Products: Maybe due to the pandemic, consumers were more concerned with the environment and their houses during COVID-19. The need for sustainable hardwood flooring rises when most of the buyers look for eco-friendly certified hardwood and companies keep focusing on green products.
  

Negative Impact Covid-19

• Supply Chain Delays: Sources suffering from the COVID-19 pandemic-related issues mainly leading to production and delivery delays caused by a delay in supplies of raw materials, such as timber, thus impacting overall operations and project timelines.

• Less Number of Construction Activities: The COVID-19 pandemic slowed most construction activities that occurred in residential and commercial areas. This reduced the number of new constructions that had a demand for hardwood flooring, hence lowering the sales for some time.

• Lack of Workers: Labour scarcity brought about the pandemic time restricted flooring companies from being at par with the production as well as installation services. Public health issues and curbs restricted the workforce, and consequently, delayed projects would affect recovery in the market.
  

List of the prominent players in the US Hardwood Flooring Market:

• Armstrong Flooring Inc.
• Mohawk Industries Inc.
• Shaw Industries Group Inc.
• Tarkett North America
• Bruce Hardwood Flooring (A subsidiary of AHF Products)
• Mannington Mills Inc.
• Pergo (a subsidiary of Mohawk Industries)
• Anderson Tuftex (a brand of Shaw Industries)
• Kährs Group
• Mullican Flooring
• Somerset Hardwood Flooring
• HomerWood Hardwood Flooring
• Weyerhaeuser Company
• Lauzon Distinctive Hardwood Flooring
• DuChâteau
• Others

The US Hardwood Flooring Market is segmented as follows:

By Wood Type

• Solid Hardwood
• Engineered Hardwood

By Product Type

• Strip Flooring
• Plank Flooring
• Parquet Flooring
• Others

By Application

• Residential
• Commercial

By End-Use

• New Construction
• Renovation