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Europe Luxury Vinyl Tile (LVT) Flooring Market Forecast to 2031
Europe Luxury Vinyl Tile (LVT) Flooring Market Forecast to 2031 – Regional Analysis – by Type (Rigid and Flexible) and End User (Residential, Commercial, and Institutional)
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Description
Expansion of Commercial Sector Drives Europe Luxury Vinyl Tile (LVT) Flooring Market
Luxury vinyl tile (LVT) flooring has emerged as a favored choice for commercial spaces such as offices, retail outlets, and hospitality establishments due to its exceptional durability, low maintenance requirements, and design versatility. In bustling commercial environments, where foot traffic can be intense and continuous, durability is paramount. Luxury vinyl tiles (LVT)’s robust construction ensures it can withstand the rigors of high-traffic areas without succumbing to damage or wear, maintaining its aesthetic appeal and structural integrity over time. Businesses appreciate the low maintenance nature of luxury vinyl tiles (LVT), as its smooth surface is easy to clean, requiring only routine sweeping and occasional mopping to keep it looking pristine. This translates to reduced operational costs and minimal downtime, enhancing the overall efficiency of commercial operations.
Luxury vinyl tiles (LVT) offers unparalleled design flexibility, with a vast array of colors, patterns, and textures to suit diverse aesthetic preferences and interior design themes. Furthermore, the cost-effectiveness of luxury vinyl tiles (LVT), considering its long-term durability and low maintenance requirements, makes it a sound investment for commercial applications, offering significant savings over its lifespan.
Europe Luxury Vinyl Tile (LVT) Flooring Market Overview
Europe luxury vinyl tiles (LVT) flooring market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. European consumers have shown a growing inclination toward LVT flooring due to its durability, ease of maintenance, and aesthetic appeal. This trend is particularly pronounced in Germany, the UK, France, and the Nordic countries, where homeowners, renovators, and businesses seek high-quality, long-lasting flooring solutions. For instance, according to the European Commission, the value of residential renovation in Europe reached approximately US$ 498.5 billion in the year 2023. Additionally, the construction revenue in Europe was valued at approximately US$ 1.45 trillion in 2023. The versatility of LVT, which can replicate the look of natural materials such as hardwood and stone, appeals to European consumers who value both style and practicality in their flooring choices. Regulatory standards and environmental concerns also influence the Europe LVT flooring market. With the EU placing greater emphasis on sustainability and eco-friendliness, manufacturers are under pressure to produce LVT flooring that meets stringent environmental standards. This has led to the development of eco-friendly LVT products made from recycled materials and featuring low VOC emissions, catering to environmentally conscious consumers in Europe.
Economic factors such as urbanization, renovation activities, and housing market trends contribute to the growth of the LVT flooring market in Europe. Urbanization drives demand for flooring solutions in commercial spaces and residential developments, while renovation projects in existing homes and buildings provide opportunities for LVT flooring installation. Additionally, raw material price fluctuations in the housing market impact consumer spending on home improvement projects, including flooring upgrades, influencing the demand for LVT flooring across Europe.
Europe Luxury Vinyl Tile (LVT) Flooring Market Revenue and Forecast to 2031 (US$ Million)
Europe Luxury Vinyl Tile (LVT) Flooring Market Segmentation
The Europe luxury vinyl tile (LVT) flooring market is segmented based on type, end user, and country.
Based on type, the Europe luxury vinyl tile (LVT) flooring market is bifurcated into rigid and flexible. The rigid segment held a larger share in 2023.
In terms of end user, the Europe luxury vinyl tile (LVT) flooring market is segmented into residential, commercial, and institutional. The residential segment held the largest share in 2023.
Based on country, the Europe luxury vinyl tile (LVT) flooring market is categorized into Germany, France, the UK, Italy, Spain, and the Rest of Europe. The Rest of Europe dominated the Europe luxury vinyl tile (LVT) flooring market in 2023.
Wedge Industries Ltd; Mohawk Industries, Inc.; Tarkett; Shaw Industries Group, Inc.; Interface Inc; AWI Licensing, LLC; Gerflor Group; Mannington Mills, Inc.; and Forbo Holding AG are some of the leading companies operating in the Europe luxury vinyl tile (LVT) flooring market.
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According to Business Market Insights’ research, the Europe luxury vinyl tile (LVT) flooring market was valued at US$ 6,528.69 million in 2023 and is expected to reach US$ 12,428.08 million by 2031, registering a CAGR of 8.4% from 2023 to 2031. Cost-effectiveness of luxury vinyl tiles (LVT) flooring and expansion of commercial sector are among the critical factors attributed to the Europe luxury vinyl tile (LVT) flooring market expansion.
Luxury vinyl tiles (LVT) flooring’s affordability compared to natural materials such as hardwood, stone, or ceramic tiles makes it an appealing option for consumers and businesses, especially for those who operate within tight budget constraints. Luxury vinyl tiles (LVT) offer a lower initial purchase price and deliver long-term value through their durability and low maintenance requirements. The ease of installation further enhances its cost-effectiveness, as the straightforward click-and-lock or adhesive installation methods reduce labor costs and construction timelines. This is particularly advantageous for large-scale projects where minimizing labor expenses is critical for staying within budget. Moreover, the long-term durability of luxury vinyl tiles (LVT) flooring contributes to its cost-effectiveness by minimizing replacement and repair expenses over time. Its resistance to scratches, stains, and wear ensures that it maintains its appearance and functionality even in high-traffic areas, reducing the need for frequent repairs or replacements.
The low maintenance requirements of luxury vinyl tiles (LVT) flooring further result in cost savings for homeowners and businesses, as it requires minimal cleaning and upkeep compared to other flooring materials. Furthermore, the customization options available with luxury vinyl tiles (LVT) flooring allow consumers to achieve their desired aesthetic without incurring high costs associated with customizing natural materials. Additionally, advancements in luxury vinyl tiles (LVT) technology have led to the development of energy-efficient and insulating variants, further enhancing its cost-effectiveness by helping to regulate indoor temperatures and reduce energy bills.
On the contrary, environmental concerns hamper the growth of Europe luxury vinyl tile (LVT) flooring market.
Based on type, the Europe luxury vinyl tile (LVT) flooring market is bifurcated into rigid and flexible. The rigid segment held 78.1% share of the Europe luxury vinyl tile (LVT) flooring market in 2023, amassing US$ 5,099.61 million. It is projected to garner US$ 9,801.76 million by 2031 to expand at 8.5% CAGR during 2023-2031.
In terms of end user, the Europe luxury vinyl tile (LVT) flooring market is segmented into residential, commercial, and institutional. The residential segment held 67.7% share of the Europe luxury vinyl tile (LVT) flooring market in 2023, amassing US$ 4,417.14 million. It is estimated to garner US$ 8,489.63 million by 2031 to expand at 8.5% CAGR during 2023-2031.
Based on country, the Europe luxury vinyl tile (LVT) flooring market is categorized into Germany, France, the UK, Italy, Spain, and the Rest of Europe. The Rest of Europe held 33.0% share of Europe luxury vinyl tile (LVT) flooring market in 2023, amassing US$ 2,152.26 million. It is projected to garner US$ 3,986.55 million by 2031 to expand at 8.0% CAGR during 2023-2031.
Key players operating in the Europe luxury vinyl tile (LVT) flooring market are Wedge Industries Ltd; Mohawk Industries, Inc.; Tarkett; Shaw Industries Group, Inc.; Interface Inc; AWI Licensing, LLC; Gerflor Group; Mannington Mills, Inc.; and Forbo Holding AG, among others.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in Europe luxury vinyl tile (LVT) flooring market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution.
1. Introduction
1.1 The Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
3.4 Limitations and Assumptions
4. Europe Luxury Vinyl Tile (LVT) Flooring Market Landscape
4.1 Overview
4.2 Porter’s Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.1 Threat of New Entrants
4.2.2 Intensity of Competitive Rivalry
4.2.3 Threat of Substitutes
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers
4.3.2 Manufacturers
4.3.3 Distributors/Suppliers
4.3.4 End Users
4.3.5 List of Vendors in the Value Chain
5. Europe Luxury Vinyl Tile (LVT) Flooring Market – Key Market Dynamics
5.1 Europe Luxury Vinyl Tile (LVT) Flooring Market – Key Market Dynamics
5.2 Market Drivers
5.2.1 Growing Residential Construction
5.2.2 Cost-Effectiveness of Luxury Vinyl Tiles (LVT) Flooring
5.3 Market Restraints
5.3.1 Environmental Concerns
5.4 Market Opportunities
5.4.1 Expansion of Commercial Sector
5.5 Future Trends
5.5.1 Technological Advancements
5.6 Impact of Drivers and Restraints:
6. Luxury Vinyl Tile (LVT) Flooring Market – Europe Market Analysis
6.1 Europe Luxury Vinyl Tile (LVT) Flooring Market Volume (Million Sq. Meter), 2020-2031
6.2 Europe Luxury Vinyl Tile (LVT) Flooring Market Volume Forecast and Analysis (Million Sq. Meter)
6.3 Europe Luxury Vinyl Tile (LVT) Flooring Market Revenue (US$ Million), 2020-2031
6.4 Europe Luxury Vinyl Tile (LVT) Flooring Market Forecast and Analysis
7. Europe Luxury Vinyl Tile (LVT) Flooring Market Volume and Revenue Analysis – by Type
7.1 Rigid
7.1.1 Overview
7.1.2 Rigid: Europe Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million)
7.1.3 Rigid: Europe Luxury Vinyl Tile (LVT) Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter)
7.2 Flexible
7.2.1 Overview
7.2.2 Flexible: Europe Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million)
7.2.3 Flexible: Europe Luxury Vinyl Tile (LVT) Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter)
8. Europe Luxury Vinyl Tile (LVT) Flooring Market Revenue Analysis – by End User
8.1 Residential
8.1.1 Overview
8.1.2 Residential: Europe Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million)
8.2 Commercial
8.2.1 Overview
8.2.2 Commercial: Europe Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million)
8.3 Institutional
8.3.1 Overview
8.3.2 Institutional: Europe Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9. Europe Luxury Vinyl Tile (LVT) Flooring Market -Country Analysis
9.1 Europe Luxury Vinyl Tile (LVT) Flooring Market Overview
9.1.1 Europe Luxury Vinyl Tile (LVT) Flooring Market Revenue and Forecast and Analysis – by Country
9.1.1.1 Europe Luxury Vinyl Tile (LVT) Flooring Market Volume and Forecast and Analysis – by Country
9.1.1.2 Europe Luxury Vinyl Tile (LVT) Flooring Market Revenue and Forecast and Analysis -by Country
9.1.1.3 Germany Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.3.1 Germany Luxury Vinyl Tile (LVT) Flooring Market Breakdown by Type
9.1.1.3.2 Germany Luxury Vinyl Tile (LVT) Flooring Market Breakdown by End User
9.1.1.4 France Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.4.1 France Luxury Vinyl Tile (LVT) Flooring Market Breakdown by Type
9.1.1.4.2 France Luxury Vinyl Tile (LVT) Flooring Market Breakdown by End User
9.1.1.5 United Kingdom Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.5.1 United Kingdom Luxury Vinyl Tile (LVT) Flooring Market Breakdown by Type
9.1.1.5.2 United Kingdom Luxury Vinyl Tile (LVT) Flooring Market Breakdown by End User
9.1.1.6 Italy Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.6.1 Italy Luxury Vinyl Tile (LVT) Flooring Market Breakdown by Type
9.1.1.6.2 Italy Luxury Vinyl Tile (LVT) Flooring Market Breakdown by End User
9.1.1.7 Russia Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.7.1 Russia Luxury Vinyl Tile (LVT) Flooring Market Breakdown by Type
9.1.1.7.2 Russia Luxury Vinyl Tile (LVT) Flooring Market Breakdown by End User
9.1.1.8 Rest of Europe Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million)
9.1.1.8.1 Rest of Europe Luxury Vinyl Tile (LVT) Flooring Market Breakdown by Type
9.1.1.8.2 Rest of Europe Luxury Vinyl Tile (LVT) Flooring Market Breakdown by End User
10. Competitive Landscape
10.1 Heat Map Analysis by Key Players
10.2 Company Positioning & Concentration
11. Industry Landscape
11.1 Overview
11.2 New Product Development
11.3 Merger and Acquisition
12. Company Profiles
12.1 Wedge Industries Ltd
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Mohawk Industries Inc
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Tarkett
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Shaw Industries Group Inc
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Interface Inc
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 AHF LLC
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Gerflor SAS
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Mannington Mills Inc
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Forbo Holding AG
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
13. Appendix
13.1 About The Research Team
Table 1. Europe Luxury Vinyl Tile (LVT) Flooring Market Segmentation
Table 2. List of Vendors
Table 3. Europe Luxury Vinyl Tile (LVT) Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter)
Table 4. Europe Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Table 5. Europe Luxury Vinyl Tile (LVT) Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter) – by Type
Table 6. Europe Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 7. Europe Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 8. Europe Luxury Vinyl Tile (LVT) Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter) – by Country
Table 9. Europe Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Country
Table 10. Germany Luxury Vinyl Tile (LVT) Flooring Market -Volume and Forecast to 2031 (Million Sq. Meter) – by Type
Table 11. Germany Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 12. Germany Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 13. France Luxury Vinyl Tile (LVT) Flooring Market -Volume and Forecast to 2031 (Million Sq. Meter) – by Type
Table 14. France Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 15. France Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 16. United Kingdom Luxury Vinyl Tile (LVT) Flooring Market -Volume and Forecast to 2031 (Million Sq. Meter) – by Type
Table 17. United Kingdom Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 18. United Kingdom Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 19. Italy Luxury Vinyl Tile (LVT) Flooring Market -Volume and Forecast to 2031 (Million Sq. Meter) – by Type
Table 20. Italy Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 21. Italy Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 22. Russia Luxury Vinyl Tile (LVT) Flooring Market -Volume and Forecast to 2031 (Million Sq. Meter) – by Type
Table 23. Russia Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 24. Russia Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 25. Rest of Europe Luxury Vinyl Tile (LVT) Flooring Market -Volume and Forecast to 2031 (Million Sq. Meter) – by Type
Table 26. Rest of Europe Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 27. Rest of Europe Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million) – by End User
Table 28. Heat Map Analysis by Key Players
Figure 1. Europe Luxury Vinyl Tile (LVT) Flooring Market Segmentation, by Country
Figure 2. Porter’s Analysis
Figure 3. Ecosystem: Luxury Vinyl Tiles (LVT) Flooring Market
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. Europe Luxury Vinyl Tile (LVT) Flooring Market Volume (Million Sq. Meter), 2020-2031
Figure 6. Europe Luxury Vinyl Tile (LVT) Flooring Market Revenue (US$ Million), 2020-2031
Figure 7. Europe Luxury Vinyl Tile (LVT) Flooring Market Share (%) – Type, 2023 and 2031
Figure 8. Rigid: Europe Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 9. Rigid: Europe Luxury Vinyl Tile (LVT) Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter)
Figure 10. Flexible: Europe Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 11. Flexible: Europe Luxury Vinyl Tile (LVT) Flooring Market – Volume and Forecast to 2031 (Million Sq. Meter)
Figure 12. Europe Luxury Vinyl Tile (LVT) Flooring Market Share (%) – End User, 2023 and 2031
Figure 13. Residential: Europe Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 14. Commercial: Europe Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 15. Institutional: Europe Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 16. Europe Luxury Vinyl Tile (LVT) Flooring Market – Revenue by Key Countries 2023 (US$ Million)
Figure 17. Europe Luxury Vinyl Tile (LVT) Flooring Market Breakdown by Key Countries, 2023 and 2031 (%)
Figure 18. Germany Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 19. France Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 20. United Kingdom Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 21. Italy Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 22. Russia Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 23. Rest of Europe Luxury Vinyl Tile (LVT) Flooring Market – Revenue and Forecast to 2031 (US$ Million)
Figure 24. Company Positioning & Concentration
The List of Companies – Europe Luxury Vinyl Tile (LVT) Flooring Market
o Wedge Industries Ltd
o Mohawk Industries, Inc.
o Tarkett
o Shaw Industries Group, Inc.
o Interface Inc
o AWI Licensing, LLC
o Gerflor Group
o Mannington Mills, Inc.
o Forbo Holding AG
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