Jul 28, 2017
6 Key Takeaways from Fact.MR's Forecast on Automotive Mat Market
by Team Fact.MR
Automotive mats, also known as vehicle mats, are designed and manufactured to prevent the interior of vehicles from water, dirt and corrosion, safeguarding valuable investment of the customers. The demand for high-quality automotive mats, particularly in passenger vehicles, is gaining an uptick, with customers becoming more concerned about hygiene and aesthetics related to interior of their vehicles. With recent advancements in automotive fabric, adoption of nano-materials is on a rise owing to their enhanced properties. In addition, growing preference for green technology has led the market for automotive mats towards eco-friendly technologies. A recent report by Fact.MR offers in-depth analysis on the global automotive mat market for the forecast period 2017 to 2022.
According to the report, the global automotive mat market is projected to register steady CAGR through 2022. Increasing disposable income of the middle-class population, especially in China and India, has driven the adoption of cars across these regions. This has resulted into a rise in demand for accessories including airbags, seat belts, covers, and mats. In addition, adoption of mobility solutions such as e-sharing and carpooling, particularly across cities with huge pressures on infrastructure have been influencing car sales, thereby its accessories. Such factors are likely to boost adoption of automotive mats in the near future. Fact.MR’s report estimates the global automotive mat market to surpass revenues worth US$ 25,000 Mn in 2017; by 2022 this number is expected to exceed US$ 30,000 Mn.
6 Estimations about the Global Automotive Mat Market
- Rubber will remain preferred material for automotive mats in the market, followed by plastic and PVC. Revenues from sales of rubber mats will surpass US$ 10,000 Mn in 2017. Demand for metal mats in the market will remain sluggish during the forecast period.
- By type, standard mats will continue to be sought-after on the back of their cost-effectiveness and availability in the market. Sales of standard mats will exhibit a comparatively higher CAGR than other automotive mat-type segments.
- Based on design, the market is bifurcated into needle-punched and non-skid automotive mats. Sales of needle-punched automotive mats is estimated to reach revenues worth US$ 13,991.9 Mn in 2017. Needle-punched automotive mats are expected to witness largest adoption in Asia Pacific excluding Japan (APEJ), owing to the potential for growth of automotive industry in APEJ countries such as China and India.
- Sales of automotive mats in passenger cars will account for largest revenues in the market, followed by LCV and HCV segments. In addition, revenues from sales of automotive mats in LCVs and HCVs will collectively account for US$ 7,035.3 Mn in 2017, with the former being more lucrative than the latter.
- APEJ will remain dominant in the global automotive mat market, expanding at a high single-digit CAGR through 2022. In addition, North America is expected to be the second largest market for automotive mats, with sales estimated to reach nearly US$ 7,500 Mn by 2022-end
- Key market players identified in Fact.MR’s report include Auto Customs Carpets, Inc., BDK Auto, Covercraft Industries, LLC, ExactMats, Husky Liners, Inc., Intro-Tech Automotive, Kraco Enterprises, LLC, Lloyd Mats, MacNeil Automotive Products Limited, Shanghai Junda Auto Decoration Co. Ltd., Maxliner USA, and Truck Hero, Inc.