January 17, 2020
According to the research report titled ‘Automotive Flooring Market Size By Material (Polyurethane, Polypropylene, Rubber, Nylon), By Product (Carpet, Mat), By Vehicle (PCV, LCV, HCV), By Distribution Channel (OEM, Aftermarket), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026’, available at MarketStudyReport.com, the global automotive flooring market is expected to cross USD 1.8 billion by the year 2026.
According to the report, increasing noise pollution due to traffic congestion coupled with increasing utilization of acoustic insulation materials in vehicle cabins are major factors driving the automotive flooring market growth. Strict government policies pertaining to carbon emissions are facilitating the adoption of lightweight vehicle parts, which is also aiding the market expansion.
Rising preference for vehicle comfort in consort with technological upgradations aimed at producing lightweight and eco-friendly automotive flooring systems are stimulating the industry outlook. However, fluctuating vehicle sales will hinder the growth of the automotive flooring market.
Speaking of the material type, the report cites that nylon automotive flooring market segment is expected to register moderate growth during the forecast period. This material offers increased impact and heat resistance as well as better strength-to-weight ratio. Moreover, nylon products are available in various colors and are easy to clean and maintain, which in turn is facilitating the business scenario.
As per product type, automotive mats segment is presumed to expand significantly during the estimated timeframe. Automotive mats offer better floor protection in vehicle trunks from heavy cargo during transportation activities. Easy availability of floor mats in nylon, rubber, and leather material to suit varied consumer needs are contributing towards the popularity of the product across the globe.
In terms of vehicle type, heavy commercial vehicle segment will witness robust growth over 2019-2026, owing to flourishing construction and logistics industry across the globe. Growing demand for heavy commercial vehicles due to high payload capacity and ground clearance are boosting the market growth.
Based on distribution channel, OEM segment is predicted to grow substantially due to increasing awareness pertaining to personal comfort and safety. OEMs offer superior aesthetics, finish, and accurate product dimensions, thereby contributing towards the growth of the segment.
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As per regional analysis, Europe automotive flooring market is estimated to grow considerably during the forecast period. High presence of premium automobile manufacturers and availability of technical and engineering expertise are aiding the expansion of the market. Increasing production of passenger vehicles is also augmenting the demand for automotive floorings across the region.
The prominent companies operating in the automotive flooring market are Foss Performance Materials, Freudenberg SE, WALSER GmbH, Auria Solutions, Borgers SE & Co. KGaA, Conform Automotive, GAHH LLC, Hyosung Corp., Toyota Boshoku Corp., Apache Mills Inc., Low & Bonar, Autoneum, Auto Customs Carpets, DuPont de Nemours Inc., and 3M.
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