Rockville, MD -- (SBWIRE) -- 03/21/2018 -- The automotive mats market is riding on the coattails of industry-wide shift toward lighter, efficient, and aesthetically-pleasing features. As automotive mats and other accessories garner consumer attention, an opportunity to capture profit potential is in the offing for automakers and suppliers. Automotive mats remain one of the highest-selling accessories in terms of volume, but their low average selling price doesn't translate into heavy revenues and profit. As end-user demand evolves, floor mats that are custom-fit, offer edge-to-edge protection, and add to the aesthetic quotient of the vehicle.
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The Fact.MR report on global automotive mats market also projects that during the forecast period, 2017-2022, the market will be unable to witness vigorous growth. In 2017, the global market for automotive mats is expected to reach US$ 26.6 Bn. Although, the market is poised to soar at a steady yet moderate CAGR, reaching US$ 33.7 Bn value by the end of 2022.
Higher Preference to Rubber Mats
From a manufacturing viewpoint, the production of rubber mats is crippled with strict procurement laws on raw rubber materials. The adverse ecological imprint of rubber dumping, coupled with higher toxic emissions in production of rubber automotive mats, is also expected to restrain the market's overall growth. In 2017, a little less than 45% of the global automotive mat revenues are anticipated to get translated from sales of rubber mats. Rubber, as a raw material, is witnessing greater preference among manufacturers as well as car buyers. Its competitive advantage over plastic automotive mats in terms of reusability and design flexibility is also expected to boost the sales of rubber automotive mats. While rubber mats will procure global revenues worth nearly US$ 15 Bn by the end of 2022, the revenue growth of plastic materials segment is likely to reflect a moderate CAGR.
5D Automotive Mats Set to Lose Traction
The report highlights the falling share of 5D automotive mats on global market revenues throughout the forecast period. Complex production and one-time usability of 5D automotive mats is expected to turn manufacturers away. Moreover, automobile manufacturers are reluctant to provide vehicles with five dimensional matting as buyers are expected to be drawn towards interior modifications after purchase of the vehicle.
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Through 2022, 5D automotive mats are anticipated to showcase a sluggish revenue growth, which will reflect a listless CAGR. On the other hand, demand for 3D automotive mats is expected to gain steady traction, accounting for approximately one-fourth of the global automotive mats market by 2022-end. The market is expected to witness largest demand for standard mats, revenues from which will bring in US$ 18.7 Bn towards the end of the assessment period.
Needle-punched Designs will rake High Profits
Based on the design, the global market for automotive mats is anticipated to see dominance of needle-punch design technology. With more than one-half share, the global sales of automotive mats in 2017 will be dominated by needle-punch designs. The other half of the market revenues will be procured from sales of automotive mats with non-skid designs. Preference to non-skid designs will be high among manufacturers of commercial vehicles. Passenger cars will continue to come with needle-punched automotive mats in the years to come. Likewise, more than two-third of the global market value will be accounted by revenues from sales of automotive mats in passenger cars.
The report has also profiled leading manufacturers of automotive mats, which include companies such as Covercraft, BDK Auto, Exact Mats, Husky liners Inc., Kraco enterprise, MacNeil automotive product ltd, Lund International, and Max Liners.
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