Automotive Rear View Mirrors Market
Automotive Rear View Mirrors Market Global Industry Assessment & Forecast
- By Type Exterior Rear-view Mirror, Interior Rear-view Mirror
- By Features Auto Dimming, Blind Spot Detection, Power Control, Automatic Foldable, Heated, Turn Signal Indicator, Others
- By Product Conventional Rear-view Mirror, Smart Rear-view Mirror
- By Passenger Vehicles, Commercial Vehicles
|Forecast Years:||2021 - 2028|
|Historical Years:||2016 - 2020|
|Revenue 2021:||12.54 Billion|
|Revenue 2028:||16.74 Billion|
|Revenue CAGR (2021 - 2028):||5.50%|
|Fastest Growing Region (2022 - 2028)||Asia Pacific|
- Cross-segment Market Size and Analysis for Mentioned Segments
- Additional Company Profiles (Upto 5 With No Cost)
- Additional Countries (Apart From Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
- Others Request Customization Speak To Analyst
The global Automotive Rear View Mirrors market was valued at USD 12.54 Billion in 2020 and is projected to reach USD 16.74 Billion by 2028, growing at a CAGR of 5.50%% from 2021 to 2028.
|Historical Data (Actual Data)||2016-2020|
|Base Year Data||2020|
|Current Year Date||2021|
|Projected year data||2021-2026|
|Annual Market Size (2028)||16.74 Billion|
|Annual Market Size (2021)|
|CAGR (2021 - 2028)||5.50%%|
Definition and Overview
A rear-view mirror is a flat mirror used in automobiles and other vehicles, designed in order to allow the drivers to see rearward through the vehicle's rear window (rear windshield). In cars, the rear-view mirror is normally attached to the top of the windshield and can be adjusted to suit the height and viewing angle as per the driver and to drive harmlessly out of the way if impacted by a vehicle occupant in a collision.
The global Automotive Rear View Mirrors market report provides exhaustive analysis on segments, regions/countries, companies, and such several strategic marketing tools such as Porter’s Five Forces Analysis, Pricing Analysis, SWOT Analysis, PESTLE Analysis, Player Positioning Analysis, Downstream Buyers, List of distributors, and Value Chain Analysis among others. The report covers market size and estimations for each segment/region/country for the years 2016–2028. It provides a detailed study on various product types and their applications in different industry verticals at the global/regional/country level. Moreover, the report includes a thorough analysis on competitive landscape comprising of extensive company profiles based on various parameters such as company overview, market revenue, business, product portfolio, and marketing strategies among others.
COVID-19 Impact Analysis
Outbreak of COVID-19 in 2020 compelled governments across the world to take severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to restrict swift spread of COVID-19. However, these actions had a drastic impact on the global economy, as the companies across the globe were forced to either close or partially closed their operations, leading to supply chain disruptions and impairing of various industries. Moreover, in 2021 several key markets such as U.S., India, and Brazil among other witnessed second wave of COVID-19 that further disrupted the market. However, it is expected that reopening of trade activities, the market will witness steady growth in demand in the coming years. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.
The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:
o Impact Assessment of COVID-19 Pandemic
o Pre & Post COVID-19 Market Size
o Qualitative analysis on the short term & long-term impact of COVID-19 on the market
o The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.
Global Automotive Rear View Mirrors Market Report Scope
|Market Size Provided for Years||2016-2028|
|Market Size Provided In Terms Of||Revenue & Volume|
|Segments Covered||Type, Features, Product|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Countries Covered||The U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, South East Asia, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Companies Covered||Ficosa, Gentex, Changchun FAWAY Automobile Components, Tokai Rika, Murakami Kaimeido, Samvardhana Motherson, MAGNA, Ningbo Joyson Electronic, Ichikoh, MEKRA Lang.|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and Asia Pacific, company market share analysis, and COVID-19 impact analysis|
The report delivers an acute breakdown of the market based on various segments such as Type, Features and region. This study comprises the market size in terms of revenue for each segment at the global/regional/country level along with a detailed analysis of growth prospects, challenges, and opportunities.
On the basis of Type, the market is divided into Exterior Rear-view Mirror, Interior Rear-view Mirror. Exterior Rear-view Mirror is expected to dominate the market and is projected to grow at a noteworthy CAGR within the forecast period.
Based on Features, the market is divided into Auto Dimming,Blind Spot Detection,Power Control, Automatic Foldable, Heated, Turn Signal Indicator, Others. Blind Spot Detection attributed to the highest market share and is expected to grow at a significant CAGR from 2021 to 2028.
Global Automotive Rear View Mirrors Market: Type Segment Analysis
- Exterior Rear-view Mirror
- Interior Rear-view Mirror
Global Automotive Rear View Mirrors Market: Features Segment Analysis
- Auto Dimming
- Blind Spot Detection
- Power Control
- Automatic Foldable
- Turn Signal Indicator
Global Automotive Rear View Mirrors Market: Product Segment Analysis
- Conventional Rear-view Mirror
- Smart Rear-view Mirror
Global Automotive Rear View Mirrors Market: Segment Analysis
- Passenger Vehicles
- Commercial Vehicles
Regional Analysis: Preview
Geographically, the global Automotive Rear View Mirrors market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. The report further segments the regional study into key country-level markets from each region. The regional analysis section provides extensive analysis on various factors impacting market growth such as economies, industry competition, technological advancements, import-export ratio, and raw material availability among others. Moreover, the same section will provide your detailed qualitative as well as quantitative analysis for each region country comprising of market size and estimations for each region/country. Some of the prominent country-level markets are U.S., China, Germany, France, India, and Japan. Asia Pacific is anticipated to dominate the global market during upcoming years.
Market Size, 2021 (USD Billion)
Global Automotive Rear View Mirrors Market: Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
Major players in the global Automotive Rear View Mirrors market are Ficosa, Gentex, Changchun FAWAY Automobile Components, Tokai Rika, Murakami Kaimeido, Samvardhana Motherson, MAGNA, Ningbo Joyson Electronic, Ichikoh, MEKRA Lang.. The global Automotive Rear View Mirrors market report analyzes competitive scenario in detail that includes extensive information on all key players based on business overview, product portfolio, marketing strategies, recent developments, financial performance, and geographical presence among others. In addition to that, the report also covers company market share for the year 2020 along with in depth strategic developments.
Global Automotive Rear View Mirrors Market: Key Highlights
- The global Automotive Rear View Mirrors market was valued at USD 12.54 Billion in 2020.
- The global Automotive Rear View Mirrors Market is projected to reach USD 16.74 Billion by 2028
- is fueling the market growth
- Asia Pacific held the highest share of the Automotive Rear View Mirrors market in 2020.
- Some of the major companies operating in the Automotive Rear View Mirrors market are Ficosa, Gentex, Changchun FAWAY Automobile Components, Tokai Rika, Murakami Kaimeido, Samvardhana Motherson, MAGNA, Ningbo Joyson Electronic, Ichikoh, MEKRA Lang..
Frequently Asked Question
The global Automotive Rear View Mirrors valued at 12.54 Billion in 2020 and is expected to reach 16.74 Billion in 2028 growing at a CAGR of 5.50%%.
The prominent players in the market are Ficosa, Gentex, Changchun FAWAY Automobile Components, Tokai Rika, Murakami Kaimeido, Samvardhana Motherson, MAGNA, Ningbo Joyson Electronic, Ichikoh, MEKRA Lang..
The market is project to grow at a CAGR of 5.50%% between 2021 and 2028.
The driving factors of the Automotive Rear View Mirrors include
- The increasing awareness associated with the drivers and passenger’s safety is anticipated to augment the growth of the automotive rear view mirrors market over the forecast period. This is attributable to the increasing number of accidents across the globe. Most of the manufacturers have now employed smart rear-view mirrors in their automobiles to provide improved visibility while retaining proposed benefits and functions.
- The increasing technological advancements with addition of better features are expected to propel the growth of the automotive rear view mirrors market in the upcoming years. The chief OEMs are adding new features in the rear-view mirror with the adoption of smart rear-view mirror so as to remain in the competitive market. OEMs are adding features like navigation, camera monitoring, and infotainment in the case of interior mirrors.
Asia Pacific was the leading regional segment of the Automotive Rear View Mirrors in 2020.