$2.2bn
$XX.Xm
8,767
375
$XXX.Xm
Wood flooring manufacturing has struggled for most of the current period. While the pandemic impaired activity within the nonresidential construction market, robust performance within the residential construction market, marked by significant home improvement spending, provided stability. Even so, rising interest rates slammed housing markets, leading to the industry's overall contraction. Revenue has fallen at an anticipated CAGR of 1.3% to $2.2 billion through the end of 2024, including an expected 3.0% hike in 2024 alone as climbing interest rates pressure key markets.
Industry revenue has declined at a CAGR of 1.3 % over the past five years, to reach an estimated $2.2bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Mohawk Industries, Inc. | 1,032.7 | 89.6 | 8.7 | |
Shaw Industries Group, Inc. | 614.7 | 11.7 | 1.9 | |
AHF Products LLC | 345.4 | 7.7 | 2.2 |
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Industry revenue is measured across several distinct product and services lines, including White oak, Red oak and Other domestic species. White oak is the largest segment of the Wood Flooring Manufacturing in the US.
Oak varieties dominate the market
The Wood Flooring Manufacturing industry includes operators primarily engaged in manufacturing wood flooring, including oak and maple hardwood flooring.
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NAICS 32191 - Wood Flooring Manufacturing in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Housing trends dictate the need for wood flooring. Climbing interest rates, inflation, and poor economic conditions have stifled growth.
Learn about an industry's products and services, markets and trends in international trade.
Most buyers purchase oak floor varieties because of their durability, grain and affordability. White and red oak floors make up more than half of the total demand.
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Most manufacturers are located near large population centers. These regions have higher residential and commercial construction activity, generating greater demand.
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Companies endure significant competition from substitutes and imports. Many buyers have turned to less expensive mock wood products and concrete flooring.
Learn about the performance of the top companies in the industry.
Leading manufacturers control a majority of the market. These companies are well established and offer premium products at competitive prices.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Manufacturers face standard sector regulations outlined by the state and federal governments. Companies must adhere to environmental, workplace and noise standards.
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Supply chain disruptions have led to higher purchasing costs. Even as manufacturers pass higher lumber prices onto buyers, profit has contracted.
Including values and annual change:
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Key data sources in the US include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
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The market size of the Wood Flooring Manufacturing in the US industry in United States is $2.2bn in 2024.
There are 375 businesses in the Wood Flooring Manufacturing in the US industry in United States, which has declined at a CAGR of 1.5 % between 2019 and 2024.
The market size of the Wood Flooring Manufacturing in the US industry in United States has been declining at a CAGR of 1.3 % between 2019 and 2024.
Over the next five years, the Wood Flooring Manufacturing in the US industry in United States is expected to grow.
The biggest companies operating in the Wood Flooring Manufacturing market in United States are Mohawk Industries, Inc., Shaw Industries Group, Inc. and AHF Products LLC
Oak hardwood flooring manufacturing and Maple hardwood flooring manufacturing are part of the Wood Flooring Manufacturing in the US industry.
The company holding the most market share in United States is Mohawk Industries, Inc..
The level of competition is high and steady in the Wood Flooring Manufacturing in the US industry in United States.