(MENAFN- PR Newswire)
NEW YORK, June 28, 2024 /PRNewswire/ -- The global automotive floor carpet market
size is estimated to grow by USD 1.21 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of
3.2%
during the forecast period.
Rising demand for vehicle customization in Western markets is driving market growth, with a trend towards technological developments in automotive floor carpet market. However, fluctuating prices of raw materials
poses a challenge. Key market players include Adler Pelzer Holding GmbH, Auto Custom Carpets Inc., Autoneum Holding Ltd., Beaulieu International Group, Betap B.V., Bharat Seats Ltd., Corinthian Textiles, Dorsett, Feltol Manufacturing Co. Ltd., Freudenberg and Co. KG, Hayashi Telempu Co. Ltd., Hitkari Hitech Pvt. Ltd., Hyosung Advanced Materials, IDEAL Automotive GmbH, KK Motors Inc., Knox Auto Carpets Pty Ltd., Kotobukiya Fronte Co. Ltd., Toyota Motor Corp., Vaccess India Pvt. Ltd., and Wade Automotive.
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Technavio has announced its latest market research report titled Global automotive floor carpet market 2024-2028
Get a detailed analysis on regions, market segments, customer landscape, and companies
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| Forecast period |
2024-2028 |
| Base Year |
2023 |
| Historic Data |
2018 - 2022 |
| Segment Covered |
Type (Non-woven and Tufted), Application (Passenger vehicles and Commercial vehicles), and Geography (APAC, Europe, North America, South America, and Middle East and Africa) |
| Region Covered |
APAC, Europe, North America, South America, and Middle East and Africa |
| Key companies profiled |
Adler Pelzer Holding GmbH, Auto Custom Carpets Inc., Autoneum Holding Ltd., Beaulieu International Group, Betap B.V., Bharat Seats Ltd., Corinthian Textiles, Dorsett, Feltol Manufacturing Co. Ltd., Freudenberg and Co. KG, Hayashi Telempu Co. Ltd., Hitkari Hitech Pvt. Ltd., Hyosung Advanced Materials, IDEAL Automotive GmbH, KK Motors Inc., Knox Auto Carpets Pty Ltd., Kotobukiya Fronte Co. Ltd., Toyota Motor Corp., Vaccess India Pvt. Ltd., and Wade Automotiv |
Key Market Trends Fueling Growth
The global automotive floor carpet market is experiencing growth due to the use of efficient materials, such as high-quality polyurethane leather and cross-linked PE. These advanced materials increase the value proposition of floor carpets by offering benefits like sound insulation, absorption, and weight savings. They also help reduce NVH levels, enhancing ride comfort and vehicle stability. Two-thirds of vehicle sounds can be eliminated through floor carpets, making them a significant market driver. Additionally, these materials provide good temperature insulation and enhance vehicle aesthetics. The use of such materials contributes to the overall value proposition of vehicles, increasing their sales and driving market growth.
The automotive floor carpet market is experiencing significant growth due to increasing consumer preferences for comfort and style in vehicles. Carpets made from materials like vinyl and fiber are popular choices. Carpet components include mats, trim, and underlay. Carpet manufacturers focus on creating carpets that are durable, easy to clean, and aesthetically pleasing. The use of advanced technologies like recycled materials and antimicrobial agents is trending in the market. Carpet providers offer customization options to cater to diverse consumer needs. The market is competitive, with companies striving to offer innovative and cost-effective solutions. The future of the automotive floor carpet market looks promising, with continued focus on enhancing vehicle interiors and providing sustainable options.
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Market
Challenges
The automotive floor carpet market experiences challenges due to fluctuating raw material prices. Synthetic fibers, natural fibers, and adhesives are used, with prices affected by supply and demand, geopolitical events, and natural disasters. Despite increased demand for comfort features and quality materials, their fluctuating unit prices complicate sourcing and procurement. Globalization and trade tensions, such as US-China tariffs and Brexit instability, further impact prices, creating unpredictability in the market.
The Automotive Floor Carpet market faces several challenges. Rubber, matrial used extensively in carpets, requires proper flooring design and installation for effective use. Rising automotive production in various countries presents both opportunities and challenges for carpet manufacturers. Carpet transports and processing also pose challenges due to the need for precision and durability. Cars' interiors must be attractive and functional, so carpets must meet both requirements. Natural and synthetic materials, such as polyurethane and vinyl, are used in carpets, adding to the market's complexity. Carpet designs must cater to various customer preferences and car models. Additionally, cost-effective production and eco-friendly manufacturing are essential considerations. Overall, the Automotive Floor Carpet market requires innovative solutions to address these challenges.
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Segment Overview
This automotive floor carpet market report extensively covers market segmentation by
Type
Application
2.1 Passenger vehicles
2.2 Commercial vehicles
Geography
3.1 APAC
3.2 Europe
3.3 North America
3.4 South America
3.5 Middle East and Africa
1.1
Non-woven-
The Automotive Floor Carpet market experiences consistent growth due to increasing vehicle production and sales worldwide. Manufacturers prioritize offering high-quality floor carpets to enhance customer comfort and satisfaction. These carpets are essential for both new and used vehicles, making it a significant market segment within the automotive industry. Additionally, advancements in materials and manufacturing processes contribute to the market's expansion.
For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 - 2022)
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Research Analysis
The Automotive Floor Carpet Market is experiencing a surging growth due to the increasing demand for eco-friendly and electric vehicles. Lightweight components, such as thermoplastics, engineered polymers, and composite materials, are being extensively used in the production of carpets to reduce vehicle weight. These materials offer several benefits, including insulation against noise, water, and corrosion. Moulded carpets, a popular choice for their aesthetic appearance and large area backing, are increasingly being adopted in the automotive industry. The use of rubber as a material in carpets is also on the rise due to its durability and sound absorption properties. The automotive industry's rising trend towards sustainability and innovation is driving the market for automotive floor carpets.
Market Research Overview
The Automotive Floor Carpet Market encompasses the production, supply, and installation of floor carpets for various vehicle types. These carpets are designed to provide comfort, insulation, and aesthetics to the interior of automobiles. The market is driven by factors such as increasing consumer preference for luxurious and comfortable interiors, stringent regulations regarding vehicle safety and emissions, and advancements in carpet materials and manufacturing technologies. Flooring materials used include wool, nylon, polyester, and polypropylene, among others. The market is segmented based on vehicle type, carpet type, and region. The carpet type segment includes OEM (original equipment manufacturer) and aftermarket carpets. The regional segment includes North America, Europe, Asia Pacific, and the Rest of the World. The market is expected to grow significantly due to the rising demand for premium vehicles and the increasing focus on sustainability in carpet manufacturing.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Type
Application
Passenger Vehicles
Commercial Vehicles
Geography
APAC
Europe
North America
South America
Middle East And Africa
7
Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
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SOURCE Technavio
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