Automotive floor mats provide protection to vehicle floors from dirt, dust, water, mud and other elements. They are made up of materials like rubber, plastic, leather and textiles and helps keep the car interior clean. As automotive floor mats require frequent replacement due to wear and tear, they present an ongoing business opportunity.
The global Automotive Floor Mats Market is estimated to be valued at US$ 12.23 Mn in 2023 and is expected to exhibit a CAGR of 4.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The eco-friendly manufacturing trend in the automotive floor mats market is expected to drive the market growth over the forecast period. Rising environmental concerns have led automotive floor mat manufacturers to focus on developing sustainable products made from recycled and bio-based materials. Some key companies have launched floor mats made from recycled PET bottles, bio-based resins and natural rubber to reduce vehicle weight and carbon footprint. These eco-friendly floor mats are increasingly gaining popularity among environmentally conscious customers. The growing customer demand for green alternatives in various automotive components including floor mats is likely to support the expansion of the automotive floor mats market in the coming years.
Segment Analysis
The Global Automotive Floor Mats Market Size is dominated by the passenger vehicles segment. Within passenger vehicles, the compact segment accounts for the largest share as compact vehicles are highly popular across both developing and developed regions. Compact vehicles tend to be affordable for middle-class consumers and hence witness high demand. The presence of global automotive giants focusing on compact vehicle manufacturing has ensured steady supply of compact vehicles, further driving the sales of automotive floor mats used in compact passenger vehicles.
Key Takeaways
The global automotive floor mats market is expected to witness high growth over the forecast period of 2023 to 2030. The global Automotive Floor Mats Market is estimated to be valued at US$ 12.23 Mn in 2023 and is expected to exhibit a CAGR of 4.3% over the forecast period 2023 to 2030.
Regional analysis related content comprises
The Asia Pacific region dominated the global automotive floor mats market in 2023 with over 35% market share. China, India, and Japan collectively account for over 70% of the Asia Pacific market. The vast automobile production hub in these countries has been driving the demand for floor mats. Furthermore, these developing markets are witnessing rapid urbanization and rising disposable incomes, which is increasing vehicle ownership. This, coupled with hot and wet climate conditions warranting frequent floor mat replacement, is expected to continue the dominance of Asia Pacific with the highest growth rate during the forecast period.
Key players related content comprises
Key players operating in the automotive floor mats market are 3M, MAPEI S.p.A., Fosroc, Inc., Sika AG, Evonik, Chembond Chemicals Limited, ACC Limited, Flowcrete Group Ltd., SWC Brother Company Limited, and Cera-Chem Pvt. Ltd. 3M is currently the market leader in automotive floor mats. With its widespread distribution network and highly recognized brand name, 3M supplies floor mats to major OEMs across regions. Sika AG holds approximately 15% market share with a diversified product portfolio including floor coatings along with mats. These
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