Categories: Market Research

Automotive Flooring Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Automotive Flooring by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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https://www.thebusinessresearchcompany.com/report/automotive-flooring-global-market-report

According to The Business Research Company’s Automotive Flooring, The automotive flooring market size has grown strongly in recent years. It will grow from $1.25 billion in 2023 to $1.32 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to material innovation, safety and comfort, design and aesthetics, environmental sustainabilit, global economic trends..

The automotive flooring market size is expected to see steady growth in the next few years. It will grow to $1.6 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to shift towards electric vehicles (evs), rising focus on autonomous vehicles, market globalization and regional preferences, sustainability and environmental concerns, changing consumer lifestyles and preferences.. Major trends in the forecast period include influence of consumer behavior, environmental sustainability, aesthetic design and luxury, focus on comfort and ergonomics, innovative material development..

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.

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The automotive flooring market covered in this report is segmented –

1) By Product: Carpet, Mats

2) By Material: Polyurethane, Polypropylene, Rubber, Nylon

3) By Distribution Channel: OEM (Original Equipment Manufacturer), Aftermarket

4) By Application: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles

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.

The automotive flooring market report table of contents includes: