by 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 4.5% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Automotive floor mats are positioned on the floor of vehicles to protect the flooring and carpets from dirt, debris, stains and moisture. They are made from various materials like rubber, polypropylene, nylon and acrylonitrile butadiene styrene (ABS) to suit customer needs. Floor mats keep the vehicle interior clean and prevent car flooring from wear and tear caused by everyday use. They are available in various styles, colors and patterns to match vehicle interiors. With growing automotive production globally, the demand for floor mats is increasing as OEM fittings as well as aftermarket replacements.
Market key trends:
One key trend in the automotive floor mats market is the increasing demand for customized and multi-colored floor mats. Vehicle owners are looking for floor mats that match or complement the interior color and style of their vehicles. They offer an aesthetic appeal and personalized touch to vehicle interiors. Automobile manufacturers and floor mat suppliers are focusing on innovative designs, textures and attractive color options to meet this growing demand. Furthermore, the adoption of advanced materials that are lightweight, durable and easy to clean is another major trend observed in the market. Suppliers are continuously innovating floor mat materials for enhanced performance, comfort and longevity.
Porter’s Analysis
Threat of new entrants: Low capital requirements and established brand loyalties create barriers for new entrants in the automotive floor mats market.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitutes in the market.
Bargaining power of suppliers: A few leading players dominate the supply market for floor mat raw materials providing them higher bargaining power.
Threat of new substitutes: Substitute products like rubber mats, vinyl mats pose a moderate threat depending on vehicle type and customer preferences.
Competitive rivalry: Intense competition exists among the existing players to gain major market share.
Key Takeaways
The global automotive floor mats market is expected to witness high growth, exhibiting CAGR of 4.5% over the forecast period, due to increasing vehicle production globally.
Regional analysis: Asia Pacific dominates the global market and is expected to grow at the fastest rate during the forecast period due to increasing vehicle production in China and India.
Key players operating in the automotive floor mats market are 3M, Auto Custom Carpet Inc., Autotech Nonwovens Pvt Ltd., Conform Automotive, Feltex, GAHH LLC, RACEMARK International, LLC, Lloyd Mats Inc., German Auto Tops Inc., Lear Corporation (Masland Corporation), Low & Bonar PLC, Suminoe Textile Co., Ltd., Toyota Boshoku Corporation, Walser GmbH, MacNeil Automotive Products Limited (WeatherTech), Husky Liners, Inc. (Truck Hero, Inc.), and Lund International, Inc.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
