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Global Automotive Mirror System Market 2017-2021

Global Automotive Mirror System Market 2017-2021

About Automotive Mirror System

Every vehicle is equipped with a rearview mirror. Two rearview mirrors are positioned outside a vehicle, whereas a rearview mirror is positioned inside the vehicle where it is mounted on the front windshield of the vehicle. Most of the passenger cars are equipped with vanity mirrors, positioned at the sun visor, whereas vanity mirrors are not present in LCVs and M&HCVs. There is a growing trend where conventional mirrors are gradually getting replaced by auto-dimming mirrors and smart rearview mirrors.

Technavio’s analysts forecast the global automotive mirror system market to grow at a CAGR of 4.59% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global automotive mirror system market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • Europe
Technavio's report, Global Automotive Mirror System Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Ficosa International Terumo
  • Gentex Corporation
  • Magna International
  • Samvardhana Motherson Group
Other prominent vendors
  • FLABEG AUTOMOTIVE HOLDING
  • Milenco
  • Murakami Corporation
Market driver
  • Increase in the sales of passenger cars is driving the demand for mirror systems.
  • For a full, detailed list, view our report
Market challenge
  • Lower pricing of the aftermarket product.
  • For a full, detailed list, view our report
Market trend
  • Integration of camera, radar, and LED technologies into the mirror system.
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global Automotive Mirror System Market 2017-2021

Technavio recognizes the following companies as the key players in the global automotive mirror system market: Ficosa International, Gentex Corporation, Magna International and Samvardhana Motherson Group.

Other Prominent Vendors in the market are: FLABEG AUTOMOTIVE HOLDING, Milenco and Murakami Corporation.

Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is integration of camera, radar, and LED technologies into the mirror system. There have been increased government regulations regarding enhancing the safety features for vehicles. As a result, there has been a trend where OEMs are integrating the camera, radar, and LED technologies into the mirror systems to enhance the safety features. Such features are being now being offered in the vehicles as standard fitments rather than as optional features.”

According to the report, one driver in the market is increase in the sales of passenger cars is driving the demand for mirror systems. The sales of passenger cars are positively correlated with the market growth of automotive mirror systems as each passenger car equipped with two ORVMs, one IRVM, and a vanity mirror (not present in the entry-level variants of the mass-selling cars). Mirror systems in the passenger car segment contribute predominantly to the automotive mirror system market. In terms of volume, mirror systems in the passenger car segment constituted a share of 88.11% of the overall automotive mirror system market. Global car sales increased by around 3% in 2016 wherein most of the sales have been contributed by the sales of SUVs and crossovers in the Chinese and the European passenger car markets.

Further, the report states that one challenge in the market is lower pricing of the aftermarket product. Advanced automotive mirror systems equipped with features such as rearview sensors and LCD monitors are costlier than the conventional mirror systems. Thus, a number of automotive OEMs provide advanced mirror systems as an optional feature rather than a standard fitment. In addition, OEMs in the automotive mirror aftermarket provide such products at a lower price with better features than the automotive OEMs. Hence, cost-sensitive consumers prefer aftermarket products over the standard fitments provided by the automotive OEMs.

Companies Mentioned

Ficosa International, Gentex Corporation, Magna International, Samvardhana Motherson Group, FLABEG AUTOMOTIVE HOLDING, Milenco and Murakami Corporation.

  • Executive summary
  • Scope of the report
  • Research Methodology
  • Introduction
    • Key market highlights
    • Value chain analysis
      • Table Value chain of automotive mirror system market
  • Market landscape
    • Market overview
      • Table Overview of global automotive mirror system market
    • Market size and forecast
      • Table Global automotive mirror system market 2016-2021 (units in millions)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by position
    • Global automotive mirror system market by position
      • Table Global automotive mirror system market by position 2016 and 2021
    • Global automotive interior mirror system market
      • Table Global automotive interior mirror system market 2016-2021 (units in millions)
      • Table Global automotive interior mirror system market by region 2016-2021 (units in millions)
      • Table Global sales of passenger cars with respect to global sales of passenger cars with vanity mirrors 2016
    • Global automotive exterior mirror system market
      • Table Global automotive exterior mirror system market 2016-2021 (units in millions)
      • Table Global automotive exterior mirror system market by region 2016-2021 (units in millions)
  • Geographical segmentation
    • Global automotive mirror system market by geography
      • Table Global automotive mirror system market by geography 2016 and 2021
      • Table Global automotive mirror system market share by geography 2016 (units in millions)
    • Automotive mirror system market in Americas
      • Table Automotive mirror system market in Americas 2016-2021 (units in millions)
      • Table Sales growth rate of different vehicle segments in 2016 compared with 2015 (%)
      • Table Sales of vehicles in Americas by vehicle type 2016 (units in millions)
    • Automotive mirror system market in Europe
      • Table Automotive mirror system market in Europe 2016-2021 (units in millions)
      • Table Sales of vehicles in Europe by vehicle type 2016 (units in millions)
    • Global automotive mirror system market in APAC
      • Table Automotive mirror system market in APAC 2016-2021 (units in millions)
  • Key leading countries
    • Table Key leading countries
  • Decision framework
  • Drivers and challenges
    • Market drivers
    • Impact of drivers on key customer segments
      • Table Impact of drivers
    • Market challenges
    • Impact of challenges on key customer segments
      • Table Impact of challenges
  • Market trends
    • Integration of camera, radar, and LED technologies into the mirror system
    • Increase in the popularity of smart rearview mirrors
    • Auto-dimming mirrors are replacing the conventional mirrors
  • Vendor landscape
    • Competitive scenario
    • Other prominent vendors
      • Table Other prominent vendors
  • Key vendor analysis
    • Ficosa International
      • Table Ficosa International: Business segmentation
      • Table Ficosa International: Product portfolio
      • Table Ficosa International: Recent developments
    • Gentex Corporation
      • Table Gentex Corporation: Business segmentation
      • Table Gentex Corporation: Product portfolio
      • Table Gentex Corporation: Recent developments
    • Magna International
      • Table Magna International: Business segmentation
      • Table Magna International: Product portfolio
      • Table Magna International: Recent developments
    • Samvardhana Motherson Group
      • Table Samvardhana Motherson Group: Business segmentation
      • Table Samvardhana Motherson Group: Product portfolio
      • Table Samvardhana Motherson Group: Recent developments
  • Appendix
    • List of abbreviations
  • Explore Technavio

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