About Automotive Power Folding Mirror Systems
A power folding mirror is a type of outside rear-view mirror (ORVM) equipped with electrical means for horizontal and vertical adjustment from inside the vehicle. This feature helps to fit the vehicle in tight parking spaces or as a safety feature while driving through an automatic car wash. The power folding mirrors can be operated via the mirror button on the driver's door. An automatic mode can also be selected to fold the mirrors automatically when parked. These mirrors are equipped with electrical means for vertical and horizontal adjustment from inside the vehicle. The glass of a power folding mirror can also be electrically heated to keep it away from fogging.
Technavio’s analysts forecast the global automotive power folding mirror systems market to grow at a CAGR of 10.16% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive power folding mirror systems market for 2017-2021. 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:
Technavio Announces the Publication of its Research Report – Global Automotive Power Folding Mirror Systems Market 2017-2021
Technavio recognizes the following companies as the key players in the global automotive power folding mirror systems market: Ficosa International, Gentex, Magna International, MURAKAMI, and Samvardhana Motherson.
Other Prominent Vendors in the market are: FLABEG AUTOMOTIVE HOLDING, Milenco, Mirror Controls international, and Sakae Riken Kogyo.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increase in popularity of smart rear-view mirrors with power folding feature. Mirrors are continuously being upgraded with advances in technology. Currently, mirrors equipped with advanced features such as temperature readings, travel calculations, and weather conditions are being adopted. For instance, Nissan has developed a smart rear-view mirror with power folding feature that provides better rear visibility.”
According to the report, one driver in the market is increased focus on enhanced safety features. Due to the increased government regulations on safety features such as in the US, NHTSA has made it mandatory to equip all the vehicles with rear-view cameras by May 2018. Also, the awareness among consumers to purchase vehicles with enhanced safety features has been increased. As a result, even higher variants of the mass-selling cars are equipped with smart side view mirrors. For instance, in the US, the best-selling cars such as Toyota Camry and Toyota Corolla are equipped with auto-dimming mirrors with power folding mirror systems. Even in Europe, most of the cars are equipped with an auto-dimming mirror with power folding feature.
Further, the report states that one challenge in the market is cameras could be potential replacement for side-view mirrors. The use of outside rear-view mirrors is a mandatory safety device for all vehicles. In the US, Tesla along with the Alliance of Automobile Manufacturers, which is the lobbying group in the US, filed a petition to the NHTSA to replace side-view mirrors with cameras. The cameras are smaller than the outside rear-view mirrors, which will lead to the reduction in the aero drag, especially when the vehicle is moving at a higher speed. The replacement of the ORVM with the camera will lead to an improvement in the aerodynamics of the vehicle, which will eventually lead to the fuel economy benefits.
Ficosa International, Gentex, Magna International, MURAKAMI, and Samvardhana Motherson, FLABEG AUTOMOTIVE HOLDING, Milenco, Mirror Controls international, and Sakae Riken Kogyo.
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