Automotive Flooring Global Market Opportunities and Strategies to 2033

This report describes and explains the automotive flooring market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global automotive flooring market reached a value of nearly $1.25 billion in 2023, having grown at a compound annual growth rate (CAGR) of 3.06% since 2018. The market is expected to grow from $1.25 billion in 2023 to $1.6 billion in 2028 at a rate of 5.12%. The market is then expected to grow at a CAGR of 5.92% from 2028 and reach $2.14 billion in 2033.

Growth in the historic period resulted from steady expansion of the automotive industry, growth in production of passenger and commercial vehicles and increased demand for customization options and replacement parts. Factors that negatively affected growth in the historic period were increase in counterfeit products and increasing cost of raw materials used in automobiles.

Going forward, increase in demand for electric vehicles, increasing government initiatives for automotive and auto parts manufacturing, initiatives and partnerships for the use of sustainable materials in automotive manufacturing and rise in the automotive aftermarket industry and auto parts manufacturing will drive the market. Factors that could hinder the growth of the automotive flooring market in the future include restrictions on free trade and an increase in natural rubber prices.

The automotive flooring market is segmented by product into carpet and mats. The carpet market was the largest segment of the automotive flooring market segmented by product, accounting for 75.60% or $947.81 million of the total in 2023. Going forward, the mats segment is expected to be the fastest growing segment in the automotive flooring market segmented by product, at a CAGR of 6.00% during 2023-2028.

The automotive flooring market is segmented by distribution channel into OEM (original equipment manufacturer) and aftermarket. The OEM (original equipment manufacturer) market was the largest segment of the automotive flooring market segmented by distribution channel, accounting for 77.80% or $975.44 million of the total in 2023. Going forward, the aftermarket segment is expected to be the fastest growing segment in the automotive flooring market segmented by distribution channel, at a CAGR of 5.35% during 2023-2028.

The automotive flooring market is segmented by application into passenger cars, light commercial vehicles and heavy commercial vehicles. The passenger cars market was the largest segment of the automotive flooring market segmented by application, accounting for 66.88% or $838.56 million of the total in 2023. Going forward, the heavy commercial vehicles segment is expected to be the fastest growing segment in the automotive flooring market segmented by application, at a CAGR of 5.33% during 2023-2028.

The automotive flooring market is segmented by material into polyurethane, polypropylene, rubber, nylon and other materials. The polypropylene market was the largest segment of the automotive flooring market segmented by material, accounting for 39.89% or $500.17 million of the total in 2023. Going forward, the nylon segment is expected to be the fastest growing segment in the automotive flooring market segmented by material, at a CAGR of 6.68% during 2023-2028.

Asia-Pacific was the largest region in the automotive flooring market, accounting for 42.74% or $535.85 million of the total in 2023. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the automotive flooring market will be Asia-Pacific and Western Europe, where growth will be at CAGRs of 5.76% and 4.98% respectively. These will be followed by North America and Eastern Europe, where the markets are expected to grow at CAGRs of 4.75% and 4.41% respectively.

The global automotive flooring market is highly concentrated, with large players operating in the market. The top ten competitors in the market made up to 78.6% of the total market in 2022. Prominent players are acquiring the products and entering into partnerships with the other companies to consolidate their market positions across the globe, while others are distributing products. Toyota Boshoku Corporation was the largest competitor with a 19.34% share of the market, followed by Hyosung Advanced Materials Corporation with 12.07%, Autoneum Holding AG with 10.60%, Suminoe Textile Co., Ltd. with 8.19%, Adler Pelzer Group with 6.71%, Hayashi Telempu Co. Ltd with 6.34%, Shanghai Shenda Co., Ltd. with 5.97%, 3M Company with 5.74%, Auto Custom Carpets, Inc. with 2.56% and KAP Industrial Holdings Limited with 1.05%.

The top opportunities in the automotive flooring market segmented by product will arise in the carpet segment, which will gain $252.05 million of global annual sales by 2028. The top opportunities in the automotive flooring market segmented by distribution channel will arise in the OEM (original equipment manufacturer) segment, which will gain $272.56 million of global annual sales by 2028. The top opportunities in the automotive flooring market segmented by application will arise in the passenger cars segment, which will gain $233.89 million of global annual sales by 2028. The top opportunities in the automotive flooring market segmented by material will arise in the polypropylene segment, which will gain $150.29 million of global annual sales by 2028. The automotive flooring market size will gain the most in China at $109 million.

Market-trend-based strategies for the automotive flooring market include focus on strategic collaborations with the major international materials manufacturing companies, focus on developing new, innovative products, focus on the integration of eco-friendly or sustainable materials in the manufacturing of automotive spare parts and accessories, focus on adopting 3D printing technology and focus on concentrating on developing innovative lightweight materials.

Player-adopted strategies in the automotive flooring market include focus on strengthening business capabilities through investment and expansion of new plants.

To take advantage of the opportunities, the analyst recommends the automotive flooring companies to focus on driving growth through innovative product development, focus on sustainable material integration for environmental impact, focus on innovating lightweight materials for sustainable ev solutions, focus on accelerating growth through the expanding mats market segment, focus on the polyurethane and nylon material segments, expand in emerging markets, continue to focus on developed markets, focus on strategic collaborations to enhance market position, focus on capturing opportunities in the aftermarket distribution channel segment, focus on diversifying distribution channels for market expansion, provide competitively priced offerings, focus on strategic pricing for competitive edge, participate in trade shows and events, continue to use B2B promotions, focus on integrated promotional strategies for market visibility, focus on expanding business in passenger cars and light commercial vehicles application segments and focus on customer-centric strategies to target automotive end-users.