According to the research report titled ‘North America Wood Flooring Market Size study, by Product (Red Oak, White Oak, Maple Wood, Others), By Application (Residential, Commercial), By End-Use (New Construction, Replacement) and Regional Forecasts 2021-2027’, available with the MarketStudyReport North America wood flooring market had reached USD 3.6 billion in 2020 is expected to register 1.5% CAGR during the study period, subsequently accounting for USD 5.2 billion in valuation by the year 2027.
 

The rapid expansion of the real estate and interior decorative sectors in tandem with favorable regulatory outlooks that promote sustainable building methods are the major factors driving North America wood flooring market growth.
 

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Furthermore, the emergence of engineered wood as a low-cost substitute has led to the widespread adoption wood flooring, which in turn expected to drive the overall market growth in North America during the forecast period.
 

Notably, engineered wood flooring is created by layering a solid wood surface on top of wood-based panels. This flooring type is known for being reasonably priced and have similar aesthetics to solid wood flooring panels.
 

However, rising concerns regarding the product’s durability could act as a major hindrance to market growth throughout 2021-2027.
 

By product type, the North American wood flooring industry is classified into maple wood, white oak, red oak, and other segments. In terms of application, the market is labeled into commercial and residential.
 

The end-user analysis of this business sphere involves replacement and new construction segments.
 

The regional analysis of the North America wood flooring industry involves the U.S. and Canada. According to experts, the United States presently holds the largest market share and is expected to grow constantly over the estimated timeframe. This can be attributed to changing consumer preferences for simple flooring types and easy availability of maple food flooring solutions in the country.
 

The major market players in North America wood flooring industry are DuChateau, Goodfellow, Flooring Innovations, Pergo, Mannigton Mills Inc., Bruce Evans Flooring LLC, Shaw Industries Group Inc., Mohawk Industries Inc., and Q.E.P. Co. Inc.