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LONDON, GREATER LONDON, UNITED KINGDOM, November 1, 2024 /EINPresswire.com/ -- The Business Research Company’s Early Year-End Sale! Get up to 30% off detailed market research reports—limited time only!
The rear-view mirror market has experienced robust growth in recent years. It is projected to increase from $8.85 billion in 2023 to $9.39 billion in 2024, with a compound annual growth rate (CAGR) of 6.1%. This growth during the historical period can be attributed to factors such as heightened automotive safety concerns, increased traffic density, regulatory requirements for mirrors, advancements in mirror materials, and the evolution of automotive design.
What Is The Estimated Market Size Of The Global Rear-View Mirror Market And Its Annual Growth Rate?
The rear-view mirror market is anticipated to witness strong growth in the coming years, reaching $12 billion by 2028, with a compound annual growth rate (CAGR) of 6.3%. This projected growth can be attributed to the expansion of the automotive market in emerging economies, an ongoing emphasis on vehicle safety, enhanced connectivity features, the adoption of smart rear-view mirrors, and the integration of autonomous vehicle technologies.
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Growth Driver Of The Rear-View Mirror Market
The rise in the number of vehicles is expected to drive the growth of the rear-view mirror market. Vehicles, which include transportation machines with engines such as automobiles, trucks, and buses, are used to transport people or goods. Rear-view mirrors play a crucial role in ensuring the safety of both the vehicle and its passengers. Consequently, as the demand for vehicles increases, so does the demand for rear-view mirrors.
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Who Are The Key Players Shaping The Rear-View Mirror Market Trends?
Key players in the market include Continental AG, FLABEG Holding GmbH, Gentex Corporation, Magna International Inc., Ishizaki Honten Company Limited, Mitsuba Corporation, Ficosa Internacional SA, SL Corporation, Samvardhana Motherson Group, Valeo SA, Ichikoh Industries Ltd., Burco Inc., Sichuan Skay View, Honda Lock Mfg Co. Ltd., Tokairica Co Ltd., Samvardhana Motherson Reflectec, Murakami Corporation, Murakami Kaimeido Co. Ltd., Mekra Lang GmbH & Co KG, Lumax Industries Limited, Flabeg Automotive Holding GmbH, Magneti Marelli SpA, Kappa Optronics GmbH, FS Fehrer Automotive GmbH, Changchun Fawsn Group Co Ltd., Changzhou Huawei Automotive Trim Co Ltd., Changzhou Xingyu Automotive Lighting Systems Co Ltd., Fuyao Glass Group Co Ltd., Nippon Sheet Glass Co Ltd., Asahi Glass Co Ltd., Compagnie de Saint-Gobain SA, Xinyi Glass Holdings Limited.
What Are The Dominant Trends In Rear-View Mirror Market Growth?
Key players in the rear-view mirror market are concentrating on developing new and innovative products to enhance their market position.
How Is The Global Rear-View Mirror Market Segmented?
1) By Product Type: Smart Rear-View Mirror, Conventional Rear-View Mirror
2) By Mounting Location: Door Mounted, Body Mounted
3) By Mirror Type: Exterior Mirror, Interior Mirror
4) By Vehicle Type: Passenger Vehicle, Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV)
5) By Feature: Auto dimming, Blind spot detection, Power Control, Automatic Foldable, Heated, Other Features
Geographical Insights: Asia-Pacific Leading The Rear-View Mirror Market
Asia-Pacific was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Rear-View Mirror Market Definition
A rear-view mirror is a small, angled mirror that serves as a vital active safety feature in a vehicle. It enables the driver to see behind the car by utilizing its rear window. This mirror is essential for drivers to maintain safety on the roads.
Rear-View Mirror Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global rear-view mirror market report covering trends, opportunities, strategies, and more
The Rear-View Mirror Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on rear-view mirror market size, rear-view mirror market drivers and trends, rear-view mirror market major players and rear-view mirror market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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