The new report by Expert Market Research titled, ‘Global Automotive Floor Carpet Market Size, Report and Forecast 2022-2027’, gives an in-depth analysis of the global automotive floor carpet market, assessing the market based on its segments like types, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 3.2%
The increasing demand for automotive floor carpets in modern automobiles to add to the comfort and aesthetic appeal has been driving the market growth. The increasing emphasis of automotive manufacturers towards incorporating textiles in the automobiles to regulate temperature is further adding to the demand for automotive floor carpets. Over the forecast period, the increasing demand for passenger and commercial vehicles is likely to accelerate the demand for high-quality floor carpets. In terms of region, Asia Pacific accounts for a significant share in the market owing to the presence of major automotive manufacturers, advanced automotive infrastructure in countries like China and Japan, and increasing spending on vehicle maintenance.
Industry Definition and Major Segments
Automotive floor carpet, also known as moulded carpet, is defined as the floor covering of automobiles. These carpets are moulded impeccably on the car floors, that there is no chance of loose-fitting. Automotive carpets provide insulation to sound, regulates temperature, and absorb the dust or dirt particles. The thickness and quality of carpets depend on the model of the automobile.
On the basis of type, the market can be segmented into:
The significant applications of the product include:
• Passenger Vehicles
• Commercial Vehicles
The regional markets for automotive floor carpet include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
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The key trends in the automotive floor carpet market include the increasing sales of electric vehicles, which is further encouraged by the reduction of battery prices. The growing research and development activities by the major automotive manufacturers aimed towards bolstering the carpet quality, colour scheme, and fabric, are likely to increase focus of automotive manufacturers towards incorporating floor carpets. Moreover, the automated machinery being utilised in the automotive manufacturing industry, which reduces the need for human intervention, is likely to showcase a positive market outlook in the forecast period. Furthermore, the rising standards of living in the emerging economies and rapid surge in the car-ownership are anticipated to be the crucial trends in the market.
Key Market Players
The major players in the market are Low & Bonar Plc, Toyota Boshoku Corp., Autoneum Holding Ltd., Grupo Antolin Irausa, S.A., and Adler Pelzer Holding GmbH, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.