Automotive Flooring Market Size to exceed $1.8bn by 2026
Published Date: December 5, 2019 Authors: Kiran Pulidindi, Sayan Mukherjee
Automotive Flooring Market size will exceed USD 1.8 billion by 2026; according to a new research report by Global Market Insights, Inc.
Rising consumer awareness for vehicle comfort to enhance product demand
Growing consumer inclination towards comfort features and rising demand for safety in passenger and commercial vehicles are anticipated to contribute in the automotive flooring market growth. Increasing usage of insulation products for reduced outdoor noise and vibration during vehicle operations will escalate the industry size. Elegant aesthetic looks, better surface protection, and availability of multiple designs & variants will increase the product adoption across the globe.
Vehicle manufacturers are focused on offering customers with new & improved interior floor accessories to enhance their business share and gain competitive edge. For instance, in June 2016, Ford Motor announced to install vinyl mats in luxury trucks including F-Series Super Duty pickups.
Browse key industry insights spread across 258 pages with 371 market data tables & 15 figures & charts from the report, “Automotive Flooring Market Size By Material (Polyurethane, Polypropylene, Rubber, Nylon), By Product (Carpet, Mat), By Vehicle (PCV, LCV, HCV), By Distribution Channel (OEM, Aftermarket), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026” in detail along with the table of contents:
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Polyurethane will witness significant growth of 3.5% owing to high flexibility and abrasion resistance. Molded polyurethane offers manufacturers flexible means to produce floor mats due to its lightweight, resiliency, and shape. It provides high performance with low weight addition in the products. Polypropylene has relatively low cost, low density, and is thermal stable and acts as a noise and friction insulator, which increases its usage in the industry.
Mat leads the automotive flooring market size and generated revenue over USD 840 million in 2018 owing to increased durability and the ability to trap moisture & dirt in vehicles. Rubber mats provide waterproof surface that supports its high application during rains. Increased surface protection along with stain resistance will stimulate the segment penetration. Moreover, ease in cleaning and rising installation will support the product adoption.
Economical product options and increasing disposable income
Passenger cars dominate the automotive flooring market size owing to installation of accessories and interior products to enhance the aesthetics. Consumers are inclined toward several prints, styles, and colors to enhance the aesthetic appeal of the vehicles. Economical product options and increasing disposable income are promoting customers to install innovative vehicle accessories.
OEM will register significant growth with the rising preference of industry players to install attractive interior accessories in the vehicles during the delivery. Manufactures offering customized product designs to appeal customers will proliferate the industry size over the forecast timeframe. OEMs are focusing on R&D activities for new product developments in vehicle interiors to enhance the driver and passenger comfort. Manufacturers are also undergoing mergers & acquisitions to strengthen their industry foothold.
China to gain advantage from cost-effective flooring products
China is leading in the adoption of cost-effective and high-performance interior carpets. Asia Pacific leads the automotive flooring market share on account of improved standard of living, rapid advancements in vehicle manufacturing, increasing demand for carpooling, and supportive government regulations. The vehicle owners are highly accustomed to enhanced safety and comfort.
Industry players to undergo facility expansion to expand regional presence
Manufacturers involved in the expansion of their production facilities to increase their regional presence and cope up with consumer requirements will propel the industry share. For instance, in July 2018, Autoneum announced the extension of its manufacturing operations for automotive tooling required to produce lightweight components including carpets and mats to provide noise & heat protection in motor vehicles. Key automotive flooring industry players include Autoneum, 3M, Low & Bonar, Auria Solutions, and Hyosung Corporation.
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