The Global Oriental Rug Market is showing robust growth, with a valuation of USD 1,131.8 million in 2022. It is projected to reach USD 1,600.3 million by 2029, reflecting a Compound Annual Growth Rate (CAGR) of 5.1% during the review period from 2023 to 2029. The market assessment takes into account the impact of significant factors such as COVID-19 and the Russia-Ukraine War.
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Revival of Oriental Rugs as Art and Investments
Oriental rugs have gained immense popularity due to their exquisite beauty, craftsmanship, and cultural significance. These rugs are now considered works of art and investment pieces. The resurgence of interest in handmade and traditionally crafted items has further fueled the use of Oriental rugs.
Market Dynamics and Key Players
Key players in the global Oriental Rug market, including Beaulieu International Group, Devgini Carpet PVT. LTD, Interface, Inc., Miliken & Company, and Mohawk Industries, are featured in this report. The market encompasses two main types, namely Handmade and Machine-made, serving both indoor and outdoor applications.
Global Presence and Market Segmentation
The market’s growth extends across the globe, with notable interest from established companies and investors in regions like Asia-Pacific, including China, Japan, and India.
Comprehensive Market Insights
This comprehensive report offers a detailed analysis of the global Oriental Rug market, providing quantitative and qualitative insights. It covers aspects like market size and forecasts, competitive landscape, supply and demand trends, and the influence of significant events, including COVID-19 and the Russia-Ukraine War.
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