The global automotive flooring market is expected to grow at a CAGR of 5.8% from forecast period 2019 to 2026 and expected to reach the market value of around US$ 1.48 Bn by 2026.
Automotive flooring is manufactured or produced from foam material such as polyurethane, polypropylene, nylon, rubber and combination of these materials. The main functions of automotive flooring are to safeguard the vehicle original floor from corrosion, dirt, and wear. Automotive flooring offers vehicle interior clean, easy maintenance, and increases durability. Based on product type, different types of automotive flooring such as carpet and mat are used.
The growth of the automotive flooring market is primarily driven by growing number of vehicle sales, stringent government regulations regarding safety features in vehicles, consumer preference towards enhancing aesthetic appeal to vehicle, and technological advancements in automotive flooring. Furthermore, government regulations in automotive industry due to safety boosted the automotive OEMs and aftermarket players to provide safe and economical automotive floorings and consumer focus towards noise cancellation and comfortable seating is estimated to boost the market growth. Moreover, changing lifestyles of consumers across developed countries, growing automotive aftermarket industry, technological advancement and increase in the number of applications are expected to create opportunities for the manufacturers in the global market over the forecast period. However, volatile prices of raw material and growing environmental and health concerns are expected to hamper the growth of the global automotive flooring market in the coming years.
By product, carpet dominated the automotive flooring market
The carpet segment accounted for approximately 54% of the share in the global automotive flooring market in 2018. Increase in vehicle production and growing demand for customized carpet coating inside and outside floor, protection of vehicle from heat, friction, and noises in order to make comfortable and noise free ride, and repeated and regular sales of carpets as compared to mat is further expected to raise segment over the forecast period.
By application, passenger cars segment dominated the automotive flooring market
The passenger cars segment accounted for approximately 32% of the share in the global automotive flooring market in 2018. Growing demand for luxury passenger car and rapid industrialization and increase in production and sales of passenger car in developing countries such as India, China, and Indonesia, and increase in purchasing power of consumers is further expected to raise segment over the forecast period. Owing to its growing consumer focus towards improving aesthetic appeal, rising focus towards improving comfort and rise quality, and supportive government initiatives for automotive flooring in research and development centers further grows the demand for passenger car applications during the forecast period.
By material, polyurethane segment dominated the automotive flooring market
The polyurethane segment accounted for approximately 27% of the share in the global automotive flooring market in 2018. Unique optical properties, major usage in automotive flooring due to its excellent mechanical properties and flexibility are some of the factors expected to increase the demand for polyurethane, and rising demand for noise insulating materials is further expected to raise segment over the forecast period.
The market research study on “Automotive Flooring Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026”, offers a detailed insight into the global automotive flooring market entailing insights on its different market segments. Market dynamics with drivers, restraints, and opportunities with their impact are provided in the report. The report provides insights into the global automotive flooring market, its product, application, materials, sales channel, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global automotive flooring market size and volume, and segment markets by product, application, materials, sales channel, and geography along with the information on companies operating in the market. The automotive flooring market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report.
In 2018, Asia-Pacific dominated the regional market with a maximum market share
Asia-Pacific accounted for the high market share of the automotive flooring market and the region is also expected to maintain its dominance over the forecast period. The region is experiencing the maximum growth owing to the rapid consumption of automotive flooring in various applications, presence of automotive flooring companies, rapid growth in the automotive industry. Moreover, increasing demand for flooring materials for passenger vehicles from various countries of the region, such as China, India, and Thailand, growing manufacturing facilities due to low manufacturing costs and supportive government incentives, and expanding manufacturing base are also propelling the growth of automotive flooring in the Asia-Pacific region. Europe is followed by the Asia-Pacific region in the automotive flooring market.
North America is expected to hold the highest CAGR in the global market during the forecast period. The growing automobile production in the US and Canada and increase in innovation and development in automotive flooring, and growing automotive industry in Mexico, are expected to enhance the market growth in the global automotive flooring market during the forecast.
The players profiled in the report include Toyota Boshoku Corporation, DuPont, 3M, Magna International Inc., and AGM Automotive LLC, Low & Bonar, Autoneum Holding Ltd., Faurecia SA, Corry Rubber Corporation, Freudenberg Performance Materials, HP Pelzer Automotive System Inc., Derby Fabricating Solutions, LLC, and Apache Mills, Inc., among others. The companies are involved in mergers and acquisitions and new product development for expanding their market share and also for gaining competitive advantages over its competitors.
Market By Product
Market By Application
Market By Material
Market By Sales Channel
Market By Geography
Automotive flooring is manufactured or produced from foam material such as polyurethane, polypropylene, nylon, rubber and combination of these materials.
The main functions of automotive flooring are to safeguard the vehicle original floor from corrosion, dirt, and wear. Automotive flooring offers vehicle interior clean, easy maintenance, and increases durability.
Growing number of vehicle sales, stringent government regulations regarding safety features in vehicles, consumer preference towards enhancing aesthetic appeal to vehicle are main driver of the automotive flooring market.
The carpet segment accounted for approximately 54% of the share.
According to Acumen Research and Consulting, the automotive flooring market value is anticipated to be worth around US$ 1.48 billion in 2026.
The automotive flooring market is anticipated to grow over 5.8% CAGR during the forecast period 2019 to 2026.
Asia Pacific held maximum share in 2018 for automotive flooring market.