Global Automotive Floor Carpet Market 2019-2023
Global Automotive Floor Carpet Market: About this market
Automotive floor carpets are primarily used to prevent heat transfer and for noise insulation. Technavio’s automotive floor carpet market analysis considers sales from the non-woven and tufted segments. The sales are made to the passenger vehicles and commercial vehicles sectors. Our analysis also considers the sales of automotive floor carpet in APAC, Europe, MEA, North America, and South America. In 2018, the non-woven segment held the highest market share, which is expected to remain prevalent over the forecast period. Factors such as the effectiveness, low cost, low weight, and easy manufacturing process will significantly help the non-woven segment in maintaining its leading market position. Also, our global automotive floor carpet report has observed market growth factors such as the rising demand for vehicle customization in western markets, growing use of eco-friendly carpets, and increasing use of hybrid acoustic technology for electric vehicle floor carpets. However, fluctuating raw material prices, environmental concerns associated with automotive floor carpet manufacturing, and uncertainties in the automotive supply chain may hamper the growth of the automotive floor carpet industry over the forecast period.
Global Automotive Floor Carpet Market: Overview
Increasing use of hybrid acoustic technology for electric vehicle floor carpets
The rising demand for electric vehicles owing to environmental concerns is increasing the need for hybrid acoustic technology. This is because the technology has heat absorption and noise insulation technologies. As a result, the vendors of the market are working on incorporating automotive floor carpets with the technology. The technology also contributes to vehicle fuel efficiency. Therefore, the rising demand for electric vehicles will increase the sales of automotive carpets with hybrid acoustic technology. This factor will drive the market growth over the forecast period. The global automotive floor carpet market is expected to record a CAGR of almost 3% during the forecast period.
Advanced manufacturing techniques for molded floor carpets
Vendors have been increasingly adopting advanced technologies to manufacture molded carpets. Carpets used in modern vehicles are custom-fitted, and they have minimum tolerance. Therefore, the rising sales of modern vehicles will also increase the need for molded floor carpets. Therefore, this trend will have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global automotive floor carpet market during the forecast period 2019-2023, click here.
With the presence of several major players, the global automotive floor carpet market is fragmented. Technavio’s robust vendor analysis is designed to help clients in improving their market positions, and in line with this, this report provides a detailed analysis of several leading automotive floor carpet manufacturers, which include Adler Pelzer Holding GmbH, Autoneum Holding Ltd., Grupo Antolin SA, International Automotive Components Group SA, Low & Bonar Plc, and Toyota Boshoku Corp.
Also, the automotive floor carpet market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities. "
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