Global Automotive Flooring Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope

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.

Sizing and Forecast

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..

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Segmentation & Regional Insights

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

Asia-Pacific was the largest region in the automotive flooring market in 2023. Asia-Pacific is expected to be the fastest-growing region in the automotive flooring market report during 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, Africa

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Major Driver Impacting Market Growth

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.

Key Industry Players

Major companies operating in the automotive flooring market are adopting a strategic partnership approach aiming to manufacture automotive flooring, acoustics, and fiber-based products. Strategic partnerships refer to a process in which companies leverage each other’s strengths and resources to achieve mutual benefits and success. For instance, in April 2022, Auria Solutions, a UK-based company of automotive flooring, announced a partnership with Feltex Automotive to start a joint venture in South Africa for manufacturing automotive flooring. The new joint venture will continue to be known as Auria Solutions and will be based in East London’s advanced manufacturing facility, which was opened in the third quarter of 2021. It will develop several car interior goods, such as flooring systems, dash insulators, trunk trim, and parcel shelves, for specific locally built global OEM platforms. The strategic alliance combines Auria’s worldwide automotive production and technical strengths with Feltex’s regional raw material and downstream integration capabilities. Feltex Automotive is a South Africa-based company that specializes in acoustic components and automotive textiles.

The automotive flooring market report table of contents includes:

1. Executive Summary

2. Automotive Flooring Market Characteristics

3. Automotive Flooring Market Trends And Strategies

4. Automotive Flooring Market – Macro Economic Scenario

5. Global Automotive Flooring Market Size and Growth

.

31. Global Automotive Flooring Market Competitive Benchmarking

32. Global Automotive Flooring Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Automotive Flooring Market

34. Automotive Flooring Market Future Outlook and Potential Analysis

 

35. Appendix

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