FLOORING TOOL MARKET ANALYSIS

Flooring Tool MarketSize and Trends

Global flooring tool market was valued at US$ 1,339.74 Million in 2021 in terms of revenue, and is expected to exhibit a CAGR of 4.45% during the forecast period (2022 to 2030).

Global Flooring Tool Market- Impact of Coronavirus (Covid-19) Pandemic:

The outbreak of COVID-19 has negatively impacted various industries and countries across the globe. Adoption of lockdown across the globe has halted the construction industry, which restrains growth of the flooring tool market. In addition, there has been delay in the supply of raw materials required in the manufacturing of flooring tool components.

With this COVID-19 pandemic, there is effect on the supply chain due to regulations on the import & export of raw materials. As a result, the production of flooring tool was affected by the raw material shortage, which also has an impact on market growth.

Additionally, until the second quarter of 2021, it was anticipated that production stops due to employee infections and strict company closures would slow the growth of the market of flooring tool.

Figure 1. Global Flooring Tool Market Value Share (%), By Region, 2021

Figure 2. Global Flooring Tool Market Value Share (%), By Distribution Channel, 2021

On the basis of distribution channel, in 2021, mass retail segment accounted for largest market share of XX% in terms of revenue, followed by hardware and industrial segments.