Automobile Rearview Mirror Market Boom in Near Future!

Automobile Rearview Mirror Market Size, Share and Trend Analysis Report by Product by Vehicle type : Global Opportunity Analysis & Industry Forecast, 2022-2032

NEW CASTLE, DELAWARE, UNITED STATES, January 24, 2024 /EINPresswire.com/ -- Automobile rearview mirror market can be defined as a mirror mounted on the inside or outside of a vehicle, allowing drivers to see objects or vehicles behind them. The increasing adoption of advanced driver assistance systems (ADAS) and the increasing production of vehicles are the key factors driving the growth of this market. The increasing production of vehicles, coupled with the implementation of safety regulations, is driving the growth of the rearview mirror market. According to the International Organization of Motor Vehicle Manufacturers, global production of vehicles increased from 77.7 million units in 2020 to 80.1 million units in 2021. Moreover, the implementation of safety regulations such as ECE R46, a European mirror requirement for both driver and passenger side and Federal Motor Vehicle Safety Standards in the automotive industry is accelerating the demand for rearview mirrors.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 - https://www.alliedmarketresearch.com/request-toc-and-sample/A47884

Moreover, ADAS is a system of advanced features designed to enhance the safety and convenience of driving. ADAS features such as adaptive cruise control, blind spot monitoring, and lane departure warning are becoming increasingly common in vehicles. For instance, in 2020, Kia Motors launched high-resolution blind-spot view monitor technology in its new Kia Sorento SUV. These features require rearview mirrors with integrated displays and sensors. This is expected to drive the growth of this market.

In addition, the growing demand for luxury vehicles, enhanced focus on safety, and increasing demand for aftermarket products are also expected to drive the market during the forecast period. Automotive OEMs are increasingly incorporating rearview mirrors into their vehicles due to the need for improved visibility, safety, and convenience. Moreover, the increasing adoption of advanced features such as auto-dimming and electrochromic mirrors is expected to further drive the growth of the rearview mirror market over the forecast period. However, high replacement cost is expected to threaten the market growth during the forecast period.

𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐜𝐚𝐥 𝐀𝐝𝐯𝐚𝐧𝐜𝐞𝐦𝐞𝐧𝐭
Companies are investing in new product launch with advanced technologies to improve overall performance and enhance safety of the vehicle. For instance, Magna International along with Gentex Corporation introduced a rearview mirror that can switch to a panoramic live-video display from a traditional reflection. Similarly, in August 2020, Panasonic Corporation along with Nissan Motor Corporation developed intelligent rear-view mirror for Nissan KICKS. It provides significant image definition enhancement for better night visibility and control of a flicker phenomenon generated by the LED lamps of vehicles behind.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 - https://www.alliedmarketresearch.com/automobile-rearview-mirror-market/purchase-options

𝐒𝐞𝐠𝐦𝐞𝐧𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰
By type: The automobile rearview mirror market is categorized by type; interior rear view mirror and exterior rear view mirror.
By product: The automobile rearview mirror market is segmented by product namely conventional rear view mirror and smart rear view mirror.
By mounting location: The automobile rearview mirror market is divided by mounting location; door mounted and body mounted.
By vehicle type: The automobile rearview mirror market is divided by vehicle type passenger cars, light commercial vehicles, and heavy commercial vehicles.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰
Asia-Pacific has a significant market share in automobile rearview mirror market, due to extensive demand of automobiles and rapid growth in urbanization. In 2021, region accounted for around 48% share in total vehicle sales. The region has become an automotive hub as most of the automobile manufacturer have their manufacturing facility in the region. However, in commercial vehicle sales North America is holding the leading position. To fulfil the market demand, the companies are expanding their production capacities and geographical presence in these competitive regions.

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬
Competitive analysis and profiles of the major players in automobile rearview mirror market, such as Continental AG, Ficosa Internacional SA, Gentex Co., Ishizaki Honten Co. Ltd., Magna International Inc., Mitsuba Co., Murakami Co., Samvardhana Motherson Reflectec, SL Co., and Valeo SA are included in the report. This section includes the key financial metrics, operating segmentation, business description, geographical coverage, and recent developments by the company in the area of automobile rearview mirror market. There are some other important players in the market such as Autoliv India Ltd., INMESA, Panasonic Automotive Systems Co., Royal Auto Product, Tokairica Co. Ltd., and others.

𝐌𝐚𝐤𝐞 𝐚𝐧 𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/A47884

With the increased focus on safety, the market is becoming increasingly competitive. Companies are vying for market share, creating a highly competitive landscape. This has led to competitive prices, as well as an increase in the number of features and services being offered. The companies are competing on various grounds like price, geographical presence, and automation and others. and implementing different strategies like acquisition, new product development to expand their businesses. For instance, in February 2020, Jaguar Land Rover India launched the new Discovery Sport SUV with transformed interior including interior rearview mirror, new exterior design, and connected car technologies. Its ClearSight interior rear-view mirror technology, where a high-definition (HD) camera has been installed behind the vehicle, and the produced images turns the interior rear-view mirror into an HD monitor.

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬
SL Corporation, Continental AG, Gentex Corporation, Samvardhana Motherson Reflectec, Ishizaki Honten Co. Ltd., Valeo SA, Ficosa Internacional SA, Mitsuba Corporation, Murakami Corporation, Magna International Inc.

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 -
𝐂𝐞𝐧𝐭𝐞𝐫 𝐒𝐭𝐚𝐜𝐤 𝐃𝐢𝐬𝐩𝐥𝐚𝐲 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.alliedmarketresearch.com/center-stack-display-market-A10407

𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐖𝐢𝐧𝐝𝐨𝐰 𝐃𝐢𝐬𝐩𝐥𝐚𝐲 𝐒𝐲𝐬𝐭𝐞𝐦 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.alliedmarketresearch.com/automotive-window-display-system-market

𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐁𝐚𝐭𝐭𝐞𝐫𝐲 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐒𝐲𝐬𝐭𝐞𝐦 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.alliedmarketresearch.com/automotive-battery-management-system-market

David Correa
Allied Market Research
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