# North America Residential Wood Flooring Market – Expansive Coverage on the Latest Trends and Developments in the Market Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2021-11-15 Category: Research Reports Category URL: https://financedigest.com/category/research-reports Meta Title: North America Residential Wood Flooring Market Overview Meta Description: Explore the latest trends in the North America residential wood flooring market, including key drivers, restraints, and the lucrative opportunities in the U.S. URL: https://financedigest.com/north-america-residential-wood-flooring-market-expansive-coverage-on-the-latest-trends-and-developments-in-the-markethtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/research-report-1-14-1736837315503-compressed.jpg) **North America Residential Wood Flooring Market: Introduction** The [**North America residential wood flooring market**](https://www.transparencymarketresearch.com/north-america-residential-wood-flooring-market.html) was valued at ~ **US$ 4 Bn** in **2018** and is anticipated to expand at a CAGR of ~ **5%** during the forecast period. Among products, the engineered wood segment held a dominant share of the North America residential wood flooring market in **2018**. This can be primarily ascribed to the lower cost of engineered wood than other wood flooring products, along with its capability of design customization with minimal complexities. The U.S. is anticipated to offer immense opportunities to the North America [residential wood flooring market](https://www.financedigest.com/german-residential-property-market-faces-risk-of-price-drop-diw-study.html "German residential property market faces risk of price drop – DIW study") during the forecast period. **Key** [Drivers and Restraints of North America Residential Wood Flooring Market](https://www.financedigest.com/talent-acquisition-staffing-technology-and-services-market-regional-growth-drivers-segmental-analysis-opportunities-and-trends-2021-2028.html "Talent Acquisition & Staffing Technology and Services Market Regional Growth Drivers, Segmental Analysis, Opportunities and Trends 2021-2028") Rising [investments in the residential construction sector are projected](https://www.financedigest.com/investing-trends-and-projections-for-2023.html "Investing Trends and Projections for 2023") to drive the demand for residential wood flooring in the North America region during the forecast period. The [construction industry](https://www.financedigest.com/women-entrepreneurship-in-the-construction-industry.html "Women Entrepreneurship in the Construction Industry") is a major contributor to the economy of the U.S. and Canada. Moreover, the construction industry in the [region has been expanding](https://www.financedigest.com/volkswagen-bp-could-expand-e-car-charging-alliance-to-other-regions.html "Volkswagen, BP could expand e-car charging alliance to other regions") at a significant pace over the last few years. This has [boosted the demand for construction materials](https://www.financedigest.com/stellantis-aims-to-boost-recycled-material-content-in-vehicles.html "Stellantis aims to boost recycled material content in vehicles"), such as wood flooring, in the region. Demand for residential construction has risen in both the U.S. and Canada in the recent years, primarily due to increasing immigration in the region and improving lifestyle and rising purchasing power of people in the region. **Request Brochure @** **https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep\_id=76900** In addition, the shift in [focus and change in preferences toward](https://www.financedigest.com/entrepreneurs-worldwide-turn-their-focus-towards-doing-good.html "ENTREPRENEURS WORLDWIDE TURN THEIR FOCUS TOWARDS DOING GOOD") innovative flooring products, such as wood flooring, are driving the residential wood flooring market in North America. Customers are preferring wood flooring for use in residential applications, due to its aesthetic appeal and high energy efficiency. Certain factors such as ease of cleanability, better acoustics, aesthetic look, strength, durability, and high quality of indoor air have resulted in driving the demand for wood flooring products at a pace higher than that for luxury vinyl tiles. The availability of inexpensive substitutes is projected to hamper the residential [wood flooring market in North America during the forecast period](https://www.financedigest.com/wood-preservative-coatings-market-expected-at-a-cagr-of-6-2-us-125-bn-during-the-forecast-period-2017-2027.html "Wood Preservative Coatings Market   expected at a CAGR of ~ 6.2% & US$ 125 Bn during the forecast period 2017–2027"). The production cost of wood flooring is higher than that of several of its substitutes such as ceramic tiles, carpets and rugs, and cork flooring. Moreover, these flooring [options offer aesthetic characteristic similar to those of wood](https://www.financedigest.com/cryptoverse-is-bitcoin-out-of-the-woods-consider-the-options.html "Cryptoverse: Is bitcoin out of the woods? Consider the options") flooring. **REQUEST FOR COVID19 IMPACT ANALYSIS –** **https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep\_id=76900** **U.S. a Highly Lucrative Market for Residential Wood Flooring in North America** The U.S. [dominated the North America](https://www.financedigest.com/north-america-dominates-the-weatherstrip-seal-sales-attributed-to-the-constant-demand-from-construction-and-automotive-industry.html "North America Dominates The Weatherstrip Seal Sales Attributed To The Constant Demand From Construction And Automotive Industry") residential wood flooring market in **2018**. Demand for residential wood flooring is high in the U.S., primarily due to increasing population, rising number of households, and improving economic conditions in the country. People in the U.S. are opting for wood flooring in their homes to enhance the overall appearance of their homes. The demand for residential wood flooring in Canada is also increasing, due to increasing residential construction activities in the country so as to accommodate increasing number of immigrants in the country. Urban areas such as Toronto, Vancouver, Montreal, Calgary, Edmonton, and Ottawa have some of the highest [prices of housing](https://www.financedigest.com/uk-house-prices-stabilise-after-four-month-fall-halifax-says.html "UK house prices stabilise after four-month fall, Halifax says") in the country, mostly due to the large number of immigrants. **North America Residential Wood Flooring Market: Key Developments** In **March 2019**, Havwoods Ltd announced to have opened a new showroom in Toronto, Canada. The showroom is designed to foster collaborations, by bringing in the company’s clients to review a wide variety of options available in the showroom. In December 2018, Armstrong Flooring, Inc. [announced to have completed the sale](https://www.financedigest.com/barclays-announces-sale-of-remaining-shares-in-south-africas-absa.html "Barclays announces sale of remaining shares in South Africa’s Absa") of its wood flooring segment to an affiliate of American Industrial Partners. The sale permits Armstrong Flooring Inc. to intensify its focus on the luxury vinyl tile (LVT) flooring segment as well as a wide range of resilient categories such as vinyl composition tiles, resilient sheets, and its Diamond 10 line of products. **[Buy Our Premium Research](https://www.financedigest.com/research-reveals-small-outdoor-toys-are-the-best-buy-for-kids-this-christmas.html "Research reveals small outdoor toys are the best buy for kids this Christmas ") Report@** [https://www.transparencymarketresearch.com/checkout.php?rep\_id=76900<ype=S](https://www.transparencymarketresearch.com/checkout.php?rep_id=76900<ype=S) In **November 2017**, Mohawk Industries, Inc. [announced to have acquired Godfrey Hirst Group](https://www.financedigest.com/incentive-fm-group-announces-latest-strategic-me-acquisition.html "INCENTIVE FM GROUP ANNOUNCES LATEST STRATEGIC M&E ACQUISITION"), a leading flooring company in Australia and New Zealand. This acquisition enabled the company to strengthen its position in the global flooring industry. In **February 2017**, Tarkett Group announced to have acquired the assets of AlternaScapes, a [North America-based distributor and installer](https://www.financedigest.com/offshore-crews-to-strike-on-bps-north-sea-installations-says-unite.html "Offshore crews to strike on BP’s North Sea installations, says Unite") of landscape turf, through its subsidiary i.e. EasyTurf. The acquisition [expanded EasyTurf’s presence in the Florida market](https://www.financedigest.com/marine-cables-and-connectors-market-is-projected-to-expand-at-a-cagr-of-5-3-from-2017-to-2025.html "Marine Cables and Connectors Market is Projected to Expand at a CAGR of 5.3% from 2017 to 2025") and strengthened its installation capabilities. [**Competition Landscape of North America Residential Wood Flooring Market**](https://www.financedigest.com/office-seat-cushion-market-2022-development-status-competition-analysis-type-and-application-2030-fmi.html "Office Seat Cushion Market 2022 Development Status, Competition Analysis, Type and Application 2030: FMI") The North America residential wood flooring market is fragmented, with the presence of a large number of manufacturers in the region. Several major companies have adopted acquisition strategies in order to become vertically integrated, and in turn, [gain higher](https://www.financedigest.com/ftse-100-opens-higher-informa-leads-gains.html "FTSE 100 opens higher, Informa leads gains") market share in the North America residential wood flooring market. Key players operating in the North America residential wood flooring [market are Mohawk Industries](https://www.financedigest.com/anodized-titanium-market-trends-segmentation-outlook-industry-report-to-2031-2.html "Anodized Titanium Market Trends, Segmentation, Outlook, Industry Report to 2031") **, Inc., Armstrong Flooring, Inc., Tarkett Group, Mannington Mills, Inc., Somerset Hardwood Flooring Inc., Brumark, Shaw Industries Group, Inc., Preverco Inc., Beaulieu International Group, Havwoods Ltd, Kahrs Holding AB, AHF Products, and Boen.** **About Us:** Transparency [Market Research is a global market intelligence company](https://www.financedigest.com/air-classifiers-market-trend-forecast-drivers-restraints-company-profiles-and-key-players-analysis-by-2029.html "Air Classifiers Market Trend, Forecast, Drivers, Restraints, Company Profiles And Key Players Analysis By 2029"), providing global business information reports and services. Our exclusive blend of quantitative [forecasting and trends analysis](https://www.financedigest.com/automotive-wheel-rims-market-analysis-trends-top-manufacturers-share-growth-statistics-opportunities-and-forecast-to-2026.html "Automotive Wheel Rims Market Analysis, Trends, Top Manufacturers, Share, Growth, Statistics, Opportunities and Forecast to 2026") provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the [latest trends](https://www.financedigest.com/is-hybrid-the-latest-trend-for-the-multichannel-market-in-2017.html "Is Hybrid The Latest Trend For The Multichannel Market In 2017?") and information. 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