Automotive Carpeting and Roofing Market - Smart Cabin Innovations to Boost Growth | Technavio

The latest market research report by Technavio on the global automotive carpeting and roofing market predicts a CAGR of around 4% during the period 2018-2022.

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Technavio has published a new market research report on the global automotive carpeting and roofing market from 2018-2022. (Graphic: Business Wire)

The report segments the global automotive carpeting and roofing market by geography that includes the Americas, EMEA, and APAC. It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

Here are some key findings of the global automotive carpeting and roofing market, according to Technavio automotive researchers:

• Growing sales volume of automobiles: a major market driver
• Automotive industry smart cabin innovations: emerging market trend
• APAC dominated the global automotive carpeting and roofing market with more than 48% share in 2017

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Growing sales volume of automobiles: a major market driver

Growing sales volume of automobiles is one of the major factors driving the global automotive carpeting and roofing market. The global automotive market is expected to grow during the forecast period. The revenues in the global automotive carpeting and roofing market directly depend on the number of vehicles sold across the globe. The growth of the automotive industry is driven by developing nations such as China, Japan, India, Brazil, and Mexico. Developed regions such as North America and Europe are also contributing to the overall growth of the automotive industry with a high proportion of sales in the luxury sedans and performance vehicle segments.

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Automotive industry smart cabin innovations: emerging market trend

The automotive vehicle interior design and technology has advanced significantly in the past decade. The use of low-quality, hard plastics in entry-level vehicles has been eliminated due to the increasing focus on interior designing. Automotive innovators are concentrating on transforming the interior of a vehicle to be like a living room with the arrival of autonomous technology.

The vehicle interior has massive opportunities for advancements in terms of aesthetics, safety, comfort, and entertainment. New technologies such as 3D-laminated glass, haptic sensors, and augmented reality heads-up displays have already entered the automotive supply chain space. Large navigation and entertainment display screens on the dashboard provide web-based information and media, as well as data arrays, picked up from networked roads and other cars.

According to a senior analyst at Technavio for research on automotive components, “The front seat in the autonomous car may be reoriented to face the back seat so that the passengers can converse as they would in their living rooms while the car cruises to a destination. Also, the seats could face a windshield that’s become a large movie screen. The carpeting and headliners market have multiple systems that can be integrated as a part of the systems.”

Global market opportunities

The APAC region dominated the global automotive carpeting and roofing market, accounting for a market share of over 48%. The developed economies of North America and Europe boast of populations that support luxurious and premium lifestyle because of their high disposable income. The European nations approximately have 2:1 population to vehicle ratio. These factors support the growth of the automotive carpet and roofing market in North America and Europe. Manufacturers from China also play an essential role in the global supply chain and impact the aftermarket product offering and their ASP as well.

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