Automotive Flooring Market Share, Size, Expected Growth Opportunities and Forecast by 2029 | Is Automotive Flooring Industry Hit Worst due to Russia-Ukraine War Impact?
The global automotive flooring market is set to gain traction from the rising need to enhance the comfort of vehicles. This information is published by Fortune Business Insights™ in an upcoming report, The report further mentions that automotive flooring helps to prevent water and can capture dirt effectively.
Get Sample PDF Brochure:
Russia-Ukraine War Implication
The Russia-Ukraine war could change the Automotive Flooring Market dynamics of Europe forever. The standoff has revived the predicament situation of the Cold War and pushed Europe to the brink of a major military conflict. The Russian aggression in Ukraine has redefined the global landscape in terms of business. As the global Automotive Flooring Market was recuperating from the havoc wreaked by the COVID-19 pandemic, the Russia-Ukraine war has made several industry stakeholders skeptical.
The European Union is pushing for more sanctions against Russia, including halting imports of nuclear fuel from Russia and excluding Russia’s top lenders from the SWIFT banking system. Moreover, Russia has also imposed similar sanctions on most EU countries. The war crisis and sanctions have put a strain on global investment, trade, and economic activity. Therefore, skepticism and uncertainty remain prevalent regarding the conflict, its potential reach, and its longevity. Accordingly, the restoration of normal relations among partners could prove be a sign of improvement.
What Does This Report Contain?
The report studies decisive segments of this market containing regions, end-users, technologies, types, and applications. It elaborates the performance and significance of each of the segments by considering sales volume, growth prospects, revenue share, and demand. In addition to this, it will help out clients to accurately determine the market size to guide them in choosing the right segment for their business growth.
Drivers & Restraints-
IncreasingDemand for Luxury & Commercial Vehicles to Augment Growth
Automotiveflooring reduces the transmission of vibrations and acts as soundabsorbers by using mats and carpets. Polyurethane, nylon, and rubber are utilized for making these mats as they help to resist corrosion and are more durable compared to other materials. At the same time, automotive flooring is specially designed to protect the vehicle’s floor from wearing. It can be easily cleaned. The availability of prominent premium car producersand suppliers of car parts are trying to come up with innovative automotive flooring. Besides, the high demand for luxury and commercial vehicles worldwide would propel growth. However, the high cost of raw material may obstruct the automotive flooring market growth in the near future.
Ask for Customization:
Asia Pacific to Remain at Forefront Owing to Expansion of Automotive Industry
Geographically, Asia Pacific is set to procure the largest automotive flooring market share in the upcoming years. This growth is attributable to the rapid expansion of the automotive industry in the region. Apart from that, the rising demand for car safety and passenger comfort would propel growth.
Europe, on the other hand, is set to grow significantly fueled by the rising development of durable components by multiple automotive flooring manufacturers. In North America, the surging adoption of premium styling is expected to accelerate growth. Latin America would show low growth backed by the presence of fewer vehicles compared to other regions.
Key Players Focus on New Product Development to Gain a Competitive Edge
The market for automotive flooring houses a large number of renowned companies. Most of them are trying to gain a competitive edge by unveiling state-of-the-art products. A few others are focusing on attracting more customers by launching specially designed automotive flooring products that can protect people from COVID-19. Below are the two latest industry developments:
- July 2020: Mobis India Limited launched a wide range of hygiene, health, and care accessories named Kavach to act as a tool of prevention and protection amid the COVID-19 pandemic. It includes a full-floor mat made of high-quality PVC toprevent allergens from building up.
- February 2018:GGBAILEYintroduced its latest All-weather Textile Car Mats that can be customized as per the needs of people. It can cover vehicle interiors and hide dust particles throughout the year with a unique design.
A list of all the renowned automotive flooring manufacturers operating in the market:
- Corry Rubber Corporation
- Toyota Boshoku
- Conform Automotive
- Autoneum Holding AG
- Freudenberg Performance Materials
- HP Pelzer Automotive System Inc.
- Apache Mills, Inc.
- Auto Custom Carpets, Inc.
- Hyosung Corporation
- Low & Bonar
- Lloyd Mats
- Feltex Carpets
- Posh Pile
- Other key market players
Read Related News:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Fortune Business Insights Pvt. Ltd.9th Floor, Icon Tower, Baner –
Mahalunge Road, Baner, Pune-411045,
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: [email protected]