San Francisco, Nov 16 The
global automotive
flooring market is expected to reach USD 947.4 million by 2025,
according to a new report by Grand View Research, Inc. The rapidly growing
automotive industry across the globe has been and is expected to drive the
overall market growth. Further, the changing consumer preferences towards
enhanced passenger comfort and vehicle aesthetics is anticipated to propel
market growth over the forecast period.
The
increasing use of insulating mats and related products for carpet protection,
comfort, and aesthetics in passenger cars is expected to drive the product
demand in the near future. The growing importance of noise reduction and
thermal insulation is also expected to have positive impacts on the product
demand during the forecast period.
The
demand for floor carpets in automobiles for the protection of floor is directly
proportional to the demand for vehicles. The increasing production of LCV and
HCV in Asia Pacific is expected to drive the product demand in commercial
vehicles, mainly on account of the presence of a large number of major OEMs in
economies such as China and India.
The
industry is expected to witness the highest growth in the mats product segment,
expected to grow at a CAGR of 6.0% during the forecast period, in terms of
revenue. The presence of key manufacturers with a massive geographical reach
such as ACC, AGM Automotive, and 3M Company, with a gamut range of carpets and
mats, is expected to drive the overall industry demand over the forecast
period.
Browse full research report on Automotive Flooring Market:
www.grandviewresearch.com/industry-analysis/automotive-flooring-market
Further key findings from the report suggest:
- The
automotive flooring market was valued at USD 608.0 million in 2016 and is
expected to grow at a CAGR of 5.2% during the forecast period on account
of the increasing global vehicle production.
- The
polyurethane material segment accounted for the largest share of industry
revenues in 2016, and is also expected to witness the highest growth over
the forecast period at a CAGR of 6.0%, attributable to the increasing use
of the material for the manufacture of auto components.
- Carpets
accounted for the largest share among products, and this segment is slated
to grow at a CAGR of 5.0% during the forecast period, mainly driven by
automotive production and the growing need for advanced carpeting
solutions for NVH reduction and sound damping.
- The
automotive flooring market in Asia Pacific dominated the global industry,
and is slated to witness growth to the tune of 5.9% during the forecast
period, primarily on account of the rapidly-growing automotive production
in the region.
- The key
strategies adopted by the industry players include acquisitions and
distribution agreements. For instance, AGM Automotive Inc. acquired
Durmont Austria, a textile manufacturer involved in the production of
carpets for commercial building and automotive applications.
Browse more reports of this category
by Grand View Research: www.grandviewresearch.com/industry/plastics-polymers-and-resins
Grand
View Research has segmented the automotive flooring market on the basis of
material, product, application, and region:
Automotive
Flooring Material Outlook (Revenue, USD Million; 2014 - 2025)
- Polyurethane
- Polypropylene
- Nylon
- Rubber
- Others
Automotive
Flooring Product Outlook (Revenue, USD Million; 2014 - 2025)
- Carpets
- Mats
Automotive
Flooring Application Outlook (Revenue, USD Million; 2014 - 2025)
- Cars
- LCV
- HCV
Automotive
Flooring Regional Outlook (Revenue, USD Million; 2014 - 2025)
- North America
- U.S
- Europe
- Germany
- UK
- Asia Pacific
- China
- India
- Japan
- Central &
South America
- Brazil
- Middle East
& Africa
- South Africa
Browse press release of this report
by Grand View Research: www.grandviewresearch.com/press-release/global-automotive-flooring-market
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For more information:
www.grandviewresearch.com
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