Industry: Consumer Goods
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Report Type: Ongoing
Report ID: PMRREP34500
The wood flooring market of North America is poised for revenue worth US$6.85 Bn in 2031 compared to the valuation US$5.35 Bn estimated in 2024. Between 2024 and 2031, the market size will observe a steady CAGR of 3.5%.
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Report Attribute |
Details |
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Market Size Value in 2024(E) |
US$5.35 Bn |
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Revenue Forecast in 2031(F) |
US$6.85 Bn |
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Value CAGR (2024-2031) |
3.5% |
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Value CAGR (2019-2023) |
3.0% |
Demand for wood floors in North America is on a steady climb. Homeowners here are increasingly drawn to their beauty and durability, fueling a boom in both renovations and new construction projects. The preference for single-family homes further strengthens demand in the region’s wood flooring sector.
Eco-consciousness is a growing movement, and consumers are seeking sustainable options. Wood flooring from responsibly managed forests, certified by groups like the FSC, resonates with this shift. Manufacturers are responding with a wider range of eco-friendly solutions, including reclaimed wood, and bamboo flooring.
The US dominated North America’s wood flooring market in 2022 and is expected to grow at a significant rate during the forecast period. The strong foothold of residential and commercial infrastructure on a domestic level is expected to boost the primacy of the US in the wood flooring industry.
Furthermore, improvement in the US economy post-COVID-19 pandemic in 2020, coupled with growing investment in the repair and renovation of existing building structures is expected to benefit the market over the forecast period.
Key Trends Shaping the Market
Sustained Preference for Hardwood Flooring
The region represents the world’s leading market for wood flooring, the US, and Canada leading their way. Solid hardwood flooring has historically been a popular choice and will be consumers’ favorite for its desirable endurance, and timeless appeal.
Over the recent years, engineered wood flooring has grabbed exceptional popularity and continues to thrive on the back of its higher stability, moisture resistance, and versatility.
All these attributes position engineered wood as the best suitable material choice for a wide range of application areas, including high-humidity areas, and radiant heating systems.
Design and Technological Innovations
Innovation is another key driver. Advancements in manufacturing allow for wood flooring that caters to diverse design tastes. Digital techniques create wood looks that mimic rare species or feature unique patterns, offering a balance of affordability, and aesthetics.
Rising Focus on Environmental Responsibility
Consumer awareness about environmental conservation has led to high demand for eco-friendly flooring products such as bamboo, glass, rubber, cork, linoleum, and hardwood.
Wood flooring installation is a difficult and time-consuming task, but now companies have come up with products that do not require any kind of glue to stick the product to the floor.
The materials are made in such a way that tiles can get interlocked with each other. This is a major development in the flooring industry of North America as the wood flooring cost has come down drastically.
With an expanding user base of wood flooring, the demand for products approved and certified by Forest Stewardship Council (FSC) bodies is also on the rise.
While this reflects increasing consumer awareness about how wood flooring aligns with environmental sustainability goals, it is one of the strongest factors shaping demand across the North America wood flooring Market.
The Expanse of Engineered Wood Flooring Solutions
Engineered wood is all set to outpace solid wood in popularity as it possesses superior stability. Unlike solid wood, engineered planks resist warping and gapping that are typically caused by temperature and humidity swings.
The attributes make engineered wood ideal for basements or rooms with radiant heating as solid wood might struggle at such places. Moreover, an attractive price point further uplifts the prospects of engineered wood in addition to the timeless elegance of hardwood.
Engineered planks typically feature a top layer of genuine wood, providing the natural beauty and warmth of hardwood with added resilience. Compared to laminate, engineered wood delivers a more authentic experience.
A combination of durability, aesthetics, and versatility creates a collective force to drive demand for engineered wood as a preferred choice among homeowners who seek premium flooring solutions.
While most of the utility is indoors, engineered wood finds wide application for outdoor applications like decking. Functional attributes like dimension accuracy, and abrasion resistance keep the outdoor applications afloat.
As engineered wood has successfully pulled wood flooring costs down, the affordability grows steadily, thereby pushing adoption. This is expected to shape the North America wood flooring market growth.
Engineered Wood Takes up the Largest Piece of the Pie
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Market Segment by Product Type |
Market Share (2024) |
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Engineered Wood |
>54% |
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Solid Wood |
xx% |
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Others |
xx% |
The engineered wood flooring segment reigns supreme, capturing a whopping market share of more than 54%. Unlike its solid wood counterpart, engineered wood boasts impressive dimensional stability that renders it a desirable status.
Being increasingly considered as a champion in areas like basements and rooms with radiant heat, engineered wood outweighs solid wood. It shines brighter on the outdoors as has higher abrasion resistance, and precise dimensions.
Solid wood, on the other hand, secures a smaller market share, maintaining a decent position. This is due to the wide variety of dent and scratch-resistant wood species offered, making it an attractive choice for North American homeowners.
Certain value-adding attributes of solid wood that keep bringing sales to this category include superior stain resistance, an aesthetically beautiful finish, the long-lasting solid core construction, high endurance, easy installation, and the timeless elegant appeal.
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Market Segment by End Use |
Market Share (2023) |
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Replacement |
>52% |
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New Construction |
xx% |
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Others |
xx% |
Based on end use, the replacement segment of the market takes up the largest revenue share of over 52%. The dominance of this category will prevail in the long run as North America’s homeowners are increasingly investing in revamping their existing spaces.
The new construction segment also represents a sizably large category expected to experience steady growth in revenue in line with a boom in residential and commercial construction projects.
Application in Residential Segment Largest
The great recession of 2008-2009 has been a significant factor pushing the demand for wood flooring in the residential sector. The consistent growth of home refurbishments, and frequent renovation projects continue to keep the redevelopment sector of North America going. This will be among the key drivers pushing wood flooring products in the residential area.
Similarly, several redevelopment projects in the region’s commercial sector also offer sufficient tailwinds to sales of flooring products. Developed North American countries like the US, Mexico, and Canada are at the forefront of demand generation.
Mounting domestic and international migration rates play a vital role in elevating prospects of wood flooring solutions in the housing sector. A significant trend characterizing this area is the potential takeover of solid wood flooring by engineered wood options.
On the other hand, the commercial segment also accounts for a sizeable share of the North America wood flooring market, primarily comprising hotels, commercial buildings, cafés and restaurants, offices, retail stores, gymnasiums and sports areas, and hospitals.
Rising investments in the region’s tourism infrastructure Increasing investment in the development and renovation of tourism infrastructure is further expected to support this segment’s expansion in the years to come.
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Market Segment by Country |
Projected CAGR (2024-2031) |
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US |
x% |
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Canada |
2.1% |
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Mexico |
x% |
Residential Sector Provides a Strong Impetus to the US Leadership
The US is especially thriving on account of the residential construction sector’s growth and has only witnessed an upward trend since 2021. The US market for wood flooring is primarily gaining from a rising trend of single-family dwellings.
Falling wood flooring costs with engineered wood penetration is another strong factor creating tailwinds for the dominance of the US in the North America Wood Flooring Market. Renovation and remodeling projects are creating rather fertile environment for the market growth in the country.
The strengthening residential replacement in the country will work to the advantage of market here. The demand here also witnesses a boost from the inflating manufacturing activity across various industry verticals in addition to several other non-residential areas.
While Canada also stands as an important market in the North America wood flooring market, it is poised to see a modest 2.1% CAGR during the years of forecast.
Along with rising population, and rapid pace of urbanization, the Canadian market reaps the benefit from a growing rate of migration that influences the residential construction sector here.
With growing focus on the Government of Canada on embracing highly efficient construction practices, the demand for wood flooring will remain steady.
Major Companies in the Market
December 2023
Mohawk Group entered a partnership with the region’s smart flooring firm Scanalytics over achievement of lowered emissions from the built environment.
August 2023
The R.A. Siegel Company started representing Johnson Hardwood’s Southeast territories for the company’s complete floor coverings, i.e., high-performance laminate, rigid/SPC core, and premium hardwood flooring.
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Attributes |
Details |
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Forecast Period |
2024 to 2031 |
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Historical Data Available for |
2019 to 2023 |
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Market Analysis |
US$ Billion for Value |
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Key Regions Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Report Coverage |
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Customization & Pricing |
Available upon request |
Wood Type
By Product
By Application
By End Use
By Country
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The market is worth around US$5.3 billion as of 2024, with steady growth expected.
The market growth is driven by demand for sustainable materials, residential renovation and construction, and consumer preference for aesthetic, durable flooring.
Engineered wood, and solid wood are the most popular types due to their versatility, durability, and natural beauty.
Some of the major players include Mohawk Industries, Shaw Industries, Armstrong Flooring, Mannington Mills, and Tarkett.
Trends include reclaimed and recycled wood, smart technology integration, and water-resistant, high-durability finishes.
