Jul 22, 2019   SOURCE: BusinessWire

Global Automotive Floor Carpet Market 2019-2023 | Advanced Manufacturing Techniques for Molded Floor Carpets to Boost Growth| Technavio

The global automotive floor carpet market is expected to post a CAGR close to 3% during the period 2019-2023, according to the latest market research report by Technavio.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190722005376/en/

Technavio has announced its latest market research report titled global automotive floor carpet market 2019-2023 (Graphic: Business Wire)

Technavio has announced its latest market research report titled global automotive floor carpet market 2019-2023 (Graphic: Business Wire)

The demand for electric vehicles is increasing every year, and the improvements in electric vehicle charging infrastructure and the reduction in battery prices will further increase the demand for electric vehicles in the coming years. Hence, some vendors that offer automotive floor carpets are working on developing a hybrid-acoustic technology, which has good heat absorption and noise insulation properties. For instance, in late 2017, Autoneum expanded its product portfolio for vehicle interiors with Hybrid-acoustics ECO for floor carpets, floor insulators, and inner dashes. The technology is based on a fibrous material that acts both as a heat absorber and floor insulator depending on the requirement. Thus, the rising demand for electric vehicles will boost the demand for hybrid-acoustic technology in floor carpets, which in turn, will increase the selling price of floor carpets leading to a significant increase in the market revenue.

As per Technavio, advanced manufacturing techniques for molded floor carpets will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global automotive floor carpet market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Global Automotive Floor Carpet Market: Advanced Manufacturing Techniques for Molded Floor Carpets

The vendors operating in the global automotive floor carpet market are using advanced techniques that aid in the manufacture of molded floor carpets. Floor carpets used in modern vehicles are precisely manufactured in terms of fit and dimensions with minimum tolerance. The greater use of such techniques is expected to drive market revenue. Also, advanced machinery is being used to make molded floor carpets, which requires minimal human interaction and offers unique designs. Therefore, with such machinery and advances, the market for automotive floor carpet is expected to showcase a positive outlook during the forecast period.

“Currently, vendors operating in the global automotive floor carpet market are using advanced composite technologies, which is increasing the value proposition of floor carpets and their life cycle. Prominent vendors operating in this market have increased the use of high-quality, scratch-resistant polyurethane leather in floor carpets for entry-segment passenger vehicles. The use of cross-linked, environment-friendly, and odorless polyethylene has also increased in floor carpets. Hence, the use of such materials helps to add to the overall value proposition of the vehicle and helps in increasing their stability,” says a senior analyst at Technavio.

Global Automotive Floor Carpet Market: Segmentation Analysis

This market research report segments the global automotive floor carpet market by application (passenger vehicles and commercial vehicles), by type (non-woven and tufted) and geographical regions (APAC, Europe, North America, South America, and MEA).

The APAC region led the market in 2018, followed by Europe, North America, South America, and MEA, respectively. However, during the forecast period, the APAC region is expected to maintain its dominance over the global market and register the highest incremental growth due to the growing demand for automobiles in the region.

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

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 10,000 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.

If you are interested in more information, please contact our media team at media@technavio.com.