Automotive Rear View Mirrors Market
Automotive Rear View Mirrors Market Global Industry Assessment & Forecast
Segments Covered
- 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
Snapshot
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 |
Customization Offered
- 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
Research Methodology: Automotive Rear View Mirrors Market - Global Market Assessment, 2021 - 2028
Automotive Rear View Mirrors Market study involves the combination of secondary and primary research for data collection and utilizes a robust and veracious methodology to attain results on quantitative and qualitative analysis for specific market research studies. Moreover, Vantage Market Research utilizes tried and tested approaches to arrive at market-related projections. The research methodology is based on the 3-dimensional model consisting of 3 phases namely: Secondary Research, Primary Research, and Data Triangulation. After the exhaustive secondary research, the procured information is revalidated through primary research.
Secondary Research
Primary Research:
The primary research was conducted to gather further information and revalidate the data collected from the secondary research. Moreover, primary research is also conducted to identify key players in the market and to gather their market-specific financial information. A typical primary interview fulfills data requirements pertaining to first-hand information on global market size, regional and segmental trends, competitive landscape expertise development, and market understandings among others.
Data Triangulation and Market Size Estimations
Top-down and bottom-up approaches are used to validate and estimate the market size of the Automotive Rear View Mirrors market. After the determination of the overall market size, the market is divided into various segments and sub-segments. Moreover, these same approaches mentioned above were used to derive and estimate market numbers for mentioned segments/sub-segments in the market. The data was triangulated by employing various data models and statistical techniques to arrive at exact statics and market size for each segment/sub-segment of the market. Moreover, region-wise product mapping analysis was used to gain some more insights on the competitive trend in the global Automotive Rear View Mirrors market.
FAQ
Frequently Asked Question
What is the global demand for Automotive Rear View Mirrors in terms of revenue?
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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%%.
Which are the prominent players in the market?
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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..
At what CAGR is the market projected to grow within the forecast period?
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The market is project to grow at a CAGR of 5.50%% between 2021 and 2028.
What are the driving factors fueling the growth of the market?
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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.
Which region accounted for the largest share in the market?
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Asia Pacific was the leading regional segment of the Automotive Rear View Mirrors in 2020.