New York, June 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive Flooring Global Market Report 2023" - https://www.reportlinker.com/p06466451/?utm_source=GNW
, Feltex Carpets Ltd., Foss Performance Materials LLC, Autotech Nonwovens Private Limited, Grupo Antolin Irausa SA, Hayakawa Eastern Rubber Co. Ltd., Hayashi Telempu Corporation, International Automotive Components Group SA, GAHH LLC, German Auto Tops Inc., Suminoe Textile Co. Ltd., Synova Carpets LLC, Faurecia SA, and Derby Fabricating Solutions LLC.
The global automotive flooring market is expected to grow from $1.19 billion in 2022 to $1.25 billion in 2023 at a compound annual growth rate (CAGR) of 5.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive flooring market is expected to reach $1.51 billion in 2027 at a CAGR of 4.8%.
The automotive flooring market consists of sales of car mats and vehicle floor mats which are made from various materials such as vinyl.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Automotive flooring refers to the carpets or mats that are created and used inside the vehicle.It can protect the original surface from dirt, wear, and corrosion.
It is commonly used to keep the vehicle clean and it also gives aesthetic appeal to the vehicle’s interior.
Asia-Pacific was the largest region in the automotive flooring market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the automotive flooring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main product types of automotive flooring include carpets and mats.Carpet refers to a soft and tufted covering for the floor of a vehicle that is made from synthetic or natural fibers.
They are produced using various materials such as polyurethane, rubber and nylon and distributed through various channels such as OEM and aftermarket for applications in passenger cars, commercial vehicles and heavy commercial vehicles.
The increasing production and sales of vehicles are expected to propel the growth of the automotive flooring market going forward.Production and sales of vehicles refer to the process of manufacturing vehicles and making them available for purchase in the market.
The increased production and sales of the vehicles are mostly driven by population growth, rising incomes, changes in consumer preferences, and government policies leading to increasing demand for automotive flooring as it enhances the interior of the vehicle. For instance, in May 2022, according to International Energy Agency (IEA), a France-based autonomous intergovernmental organization, the sales of electric cars increased in 2021, and in China, the sales of cars tripled to 3.3 million, which accounts for half of the global vehicles demand. Therefore, the increasing production and sales of vehicles will fuel the automotive flooring market growth.
Technological advancement is a key trend gaining popularity in the automotive flooring market.Major market players are concentrating their efforts on offering technologically advanced products to strengthen their position in the market.
For instance, in November 2021, a Switzerland-based automotive supplier, Autenuem launched a novel technology called Flexi-Loft which utilizes a blend of functional fibers and recycled cotton to produce a felt-based material. This innovative technology offers a flexible and sustainable solution for automotive carpets by reducing overall weight and providing better adaptability.
In April 2023, Autoneum Holding AG, a Switzerland-based automotive supplier, acquired Borgers SE & Co.KGaA for an undisclosed amount.
This acquisition helps Autoneum Holding AG expand its market for acoustic and thermal management of vehicles as well as interior components such as floor systems, and seat components.Borgers SE & Co.
KGaA is a Germany-based company that manufactures acoustically efficient components for automobiles.
The countries covered in the automotive flooring market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The automotive flooring market research report is one of a series of new reports that provides automotive flooring optical components market statistics, including automotive flooring optical components industry global market size, regional shares, competitors with an automotive flooring optical components market share, detailed automotive flooring optical components market segments, market trends and opportunities, and any further data you may need to thrive in the automotive flooring optical components industry. This automotive flooring optical components market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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