The turnover in the carpets and rugs sector in Austria has shown significant fluctuations over the past decade. Starting from a value of 76.4 million Euros in 2013, the industry experienced both peaks and troughs, with notable highs in 2017 and 2019 at 108.8 and 110.7 million Euros, respectively. However, 2018 saw a sharp decline of 44.94% from the previous year. As of 2023, the sector turnover stood at 98.2 million Euros, reflecting a year-on-year growth of 5.59%.
Over the past five years, the sector's Compound Annual Growth Rate (CAGR) is 0.52%, showing modest growth with a total increase of 2.62% forecasted by 2028. When analyzing trends, the industry witnessed a reasonable upturn post-2020, suggesting recovery and stabilization. The average annual variation moved from drastic declines and spikes to more consistent, but moderate growth rates in recent years.
Future trends to watch for:
- Continued gradual growth in turnover is indicated by a forecasted CAGR of 0.52% over the next five years.
- Potential market stabilization and consolidation as indicated by less volatile year-on-year changes.
- Industry may see innovations and emerging trends in eco-friendly and sustainable carpet solutions that could drive growth.
