San Francisco, 13
November 2018: The global automotive flooring market is expected to reach USD 947.4 million by 2025,
according to a new report by Grand View Research, Inc. The rapidly growing
automotive industry across the globe has been and is expected to drive the
overall market growth. Further, the changing consumer preferences towards
enhanced passenger comfort and vehicle aesthetics is anticipated to propel
market growth over the forecast period.
The increasing use of
insulating mats and related products for carpet protection, comfort, and
aesthetics in passenger cars is expected to drive the product demand in the
near future. The growing importance of noise reduction and thermal insulation
is also expected to have positive impacts on the product demand during the
forecast period.
The demand for floor
carpets in automobiles for the protection of floor is directly proportional to
the demand for vehicles. The increasing production of LCV and HCV in Asia
Pacific is expected to drive the product demand in commercial vehicles, mainly
on account of the presence of a large number of major OEMs in economies such as
China and India.
The industry is expected to witness the highest growth in
the mats product segment, expected to grow at a CAGR of 6.0% during the
forecast period, in terms of revenue. The presence of key manufacturers with a
massive geographical reach such as ACC, AGM Automotive, and 3M Company, with a
gamut range of carpets and mats, is expected to drive the overall industry
demand over the forecast period.
Access Research Report
of Automotive Flooring
Market@ www.grandviewresearch.com/industry-analysis/automotive-flooring-market
Further
key findings from the report suggest:
· The automotive flooring market was valued
at USD 608.0 million in 2016 and is expected to grow at a CAGR of 5.2% during
the forecast period on account of the increasing global vehicle production.
· The polyurethane material segment accounted
for the largest share of industry revenues in 2016, and is also expected to
witness the highest growth over the forecast period at a CAGR of 6.0%,
attributable to the increasing use of the material for the manufacture of auto
components.
· Carpets accounted for the largest share
among products, and this segment is slated to grow at a CAGR of 5.0% during the
forecast period, mainly driven by automotive production and the growing need
for advanced carpeting solutions for NVH reduction and sound damping.
· The automotive flooring market in Asia
Pacific dominated the global industry, and is slated to witness growth to the
tune of 5.9% during the forecast period, primarily on account of the
rapidly-growing automotive production in the region.
· The key strategies adopted by the industry
players include acquisitions and distribution agreements. For instance, AGM
Automotive Inc. acquired Durmont Austria, a textile manufacturer involved in
the production of carpets for commercial building and automotive applications.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/plastics-polymers-and-resins
Grand View Research has
segmented the automotive flooring market on the basis of material, product,
application, and region:
Automotive Flooring Material Outlook (Revenue, USD
Million; 2014 - 2025)
·
Polyurethane
·
Polypropylene
·
Nylon
·
Rubber
·
Others
Automotive Flooring Product Outlook (Revenue, USD
Million; 2014 - 2025)
·
Carpets
·
Mats
Automotive Flooring Application Outlook (Revenue, USD
Million; 2014 - 2025)
·
Cars
·
LCV
·
HCV
Automotive Flooring Regional Outlook (Revenue, USD
Million; 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
Access Press Release of
Automotive Flooring Market@ www.grandviewresearch.com/press-release/global-automotive-flooring-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range of
industries, from technology to chemicals, materials and healthcare.
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