Global Automotive Mats Market to Experience Significant Growth during the Forecast Period 2017 to 20
The global market for automotive mats is expected to reach US$ 26.6 Bn. Although, the market is poised to soar at a steady yet moderate CAGR, reaching US$ 33.7 Bn value by the end of 2022.
[UKPRwire, Wed Oct 10 2018] FactMR research firm has recently updated its massive report catalogue by adding a fresh study titled “Automotive Mats Market Forecast, Trend Analysis & Competition Tracking - Global Market insights 2017 to 2022”. This business intelligence study encapsulates vital details about the market current as well as future status during the forecast period of 2017-2022.Readers can expect holistic and comprehensive analysis on the Automotive Mats Market which can be used for formulating effective business strategies. The report also targets important facets such as market drivers, challenges, latest trends, and opportunities associated to growth of manufacturers in global market for Automotive Mats Market.
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The automotive mats market is riding on the coattails of industry-wide shift toward lighter, efficient, and aesthetically-pleasing features. As automotive mats and other accessories garner consumer attention, an opportunity to capture profit potential is in the offing for automakers and suppliers. Automotive mats remain one of the highest-selling accessories in terms of volume, but their low average selling price doesn’t translate into heavy revenues and profit. As end-user demand evolves, floor mats that are custom-fit, offer edge-to-edge protection, and add to the aesthetic quotient of the vehicle.
An automotive mat is a type of cover used in the interior of a vehicle to keep it free from dirt and moisture. Available in different forms, floor mats remain a standard on vehicles, and can also be purchased in the aftermarket.
Among all the interior car part accessories included with the purchase of vehicles, automotive mats are expected to be at the top of this list. However, manufacturers of automotive mats are struggling to eliminate predominant flaws such as seepage issues and staining, which is common for rubber as well as fabric products.
The Fact.MR report on global Automotive Mats Market also projects that during the forecast period, 2017-2022, the market will be unable to witness vigorous growth. In 2017, the global market for automotive mats is expected to reach US$ 26.6 Bn. Although, the market is poised to soar at a steady yet moderate CAGR, reaching US$ 33.7 Bn value by the end of 2022.
Higher Preference to Rubber Mats
From a manufacturing viewpoint, the production of rubber mats is crippled with strict procurement laws on raw rubber materials. The adverse ecological imprint of rubber dumping, coupled with higher toxic emissions in production of rubber automotive mats, is also expected to restrain the market’s overall growth. In 2017, a little less than 45% of the global automotive mat revenues are anticipated to get translated from sales of rubber mats. Rubber, as a raw material, is witnessing greater preference among manufacturers as well as car buyers. Its competitive advantage over plastic automotive mats in terms of reusability and design flexibility is also expected to boost the sales of rubber automotive mats. While rubber mats will procure global revenues worth nearly US$ 15 Bn by the end of 2022, the revenue growth of plastic materials segment is likely to reflect a moderate CAGR.
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5D Automotive Mats Set to Lose Traction
The report highlights the falling share of 5D automotive mats on global market revenues throughout the forecast period. Complex production and one-time usability of 5D automotive mats is expected to turn manufacturers away. Moreover, automobile manufacturers are reluctant to provide vehicles with five dimensional matting as buyers are expected to be drawn towards interior modifications after purchase of the vehicle.
Through 2022, 5D automotive mats are anticipated to showcase a sluggish revenue growth, which will reflect a listless CAGR. On the other hand, demand for 3D automotive mats is expected to gain steady traction, accounting for approximately one-fourth of the global automotive mats market by 2022-end. The market is expected to witness largest demand for standard mats, revenues from which will bring in US$ 18.7 Bn towards the end of the assessment period.
Needle-punched Designs will rake High Profits
Based on the design, the global market for automotive mats is anticipated to see dominance of needle-punch design technology. With more than one-half share, the global sales of automotive mats in 2017 will be dominated by needle-punch designs. The other half of the market revenues will be procured from sales of automotive mats with non-skid designs. Preference to non-skid designs will be high among manufacturers of commercial vehicles. Passenger cars will continue to come with needle-punched automotive mats in the years to come. Likewise, more than two-third of the global market value will be accounted by revenues from sales of automotive mats in passenger cars.
The report has also profiled leading manufacturers of automotive mats, which include companies such as Covercraft, BDK Auto, Exact Mats, Husky liners Inc., Kraco enterprise, MacNeil automotive product ltd, Lund International, and Max Liners.
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