Global Automotive Rear-view Mirror Market 2018-2022
About Automotive Rear-view Mirror
Mirrors are crucial components of a vehicle that give significant visual aid for safer driving. Most of the automotive mirrors are manually operated, while some are electronically operated.
Technavio’s analysts forecast the global automotive rear-view mirror market to grow at a CAGR of 5.06% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive rear-view mirror market for 2018-2022. 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:
Technavio Announces the Publication of its Research Report – Global Automotive Rear-view Mirror Market 2018-2022
Technavio recognizes the following companies as the key players in the global automotive rear-view mirror market: Gentex, Ficosa Internacional, Magna, Murakami, and Honda (HonaLockMfg).
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is growing popularity of integrated memory system that stores seat and side mirror preference. The modern vehicles are becoming more sophisticated in terms of the functionalities they offer to the customer. With comfort being one of the most crucial aspects while buying a vehicle, the flexibility offered by the common components like seats and mirrors plays an important role. As a result, the designing of the system has also gained utmost importance as a lot of weightage is given to the integration of various systems.”
According to the report, one driver in the market is growing popularity of premium SUVs. SUVs contribute to the adoption of rear-view mirrors significantly. The height of SUVs reduces the visibility of the short obstacles while reversing, and therefore, most of the SUVs are equipped with an additional mirror placed on the rear windshield. In developed regions, camera systems are replacing rear-view mirrors owing to their ability to provide wider visibility to the driver in more comfortable manner.
Further, the report states that one challenge in the market is auto-dimming mirrors are still seen as expensive option in emerging regions. Although auto-dimming mirrors have been around since the 1980s, their adoption has been slow, especially in emerging countries, where customers are price sensitive. For instance, conventional mirrors are priced below $99; auto-dimming mirrors cost above $150 and along with additional features like blind spot indicator or home link function the price increases above $250.
Gentex, Ficosa Internacional, Magna, Murakami, and Honda (HonaLockMfg).