SEATTLE, April 26, 2019 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the automotive floor mats market is projected to exhibit an impressive CAGR of 4.8% over the forecast period (2017 – 2027).
Key Trends and Analysis of the Automotive Floor Mats Market:
The global automotive flooring market was valued at US$ 7.91 million in 2017. The increasing automobile production is expected to be a key driver for the market growth during the forecast period. Moreover, increasing need for comfort and safety in vehicle cabins is also expected to boost demand for automotive floor mats.
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Automotive floor mats are the interior accessories of an automobile, which will be generally included while purchasing the new vehicle. Automotive floor mats are available in various sizes, shapes, designs and materials in the market. The vehicle mats may feature spikes, grooves or the locking caps to capture the dust, water or dirt. The automotive floor mats market has witnessed significant material developments in manufacturing different products such as mats and carpets. Increasing replacement of automotive rubber floor mats with polyurethane mats is one of the major factor leading to high demand for polyurethane and rubber hybrid automotive floor mats in over the forecast period. Moreover, significant demand for customized aftermarket carpeting solutions in order to enhance aesthetic value of passenger cabins is also expected to boost growth of the market.
The global automotive floor mats market is segmented on the basis of product type, application, sales channel, and region. The product type includes rubber mats, plastic mats, textile mats, and other mats (customized mats and leather mats). Among product type, the textile mats segment is expected to exhibit the highest CAGR over the over the forecast period. This is owing to increasing use of textile mats in passenger car, due to their durability and flexibility.
Among application, Heavy Commercial Vehicles (HCVs) segment held the dominant position in the market in 2017, and is expected to retain its position throughout the forecast period. This is owing to increasing production and demand for HCVs in developing countries such as China, India, Mexico, Indonesia, and Brazil. Increasing demand for automobiles in developing countries can be attributed to rapid industrialization, increasing working population, as well as growing middle-income level groups.
Asia Pacific held dominant position in the global automotive floor mats market in 2017, and is projected to maintain its dominance during the forecast period. This is owing to increasing automotive production in counties such as China, India, and South Korea and growing need for passenger comfort and safety in vehicles. For instance, according to Organisation Internationale des Constructeurs d'Automobiles (OICA), 4.49 million vehicles were produced in India in 2016, which later reached to 4.78 million units in 2017.
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https://www.coherentmarketinsights.com/market-insight/automotive-floor-mats-market-2588
Key Market Takeaways:
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