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Rear-View Mirror Market for Automotive by Product, Feature, Type, Mounting Location, Vehicle Type And Region - Global Forecast to 2022

Rear-View Mirror Market for Automotive by Product, Feature, Type, Mounting Location, Vehicle Type And Region - Global Forecast to 2022

  • August 2017
  • 172 pages
  • ID: 5076309
  • Format: PDF
  • By MarketsandMarkets

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“Increasing awareness about passenger and vehicle safety and trend of integrating additional features in the mirror are expected to fuel the demand for automotive rear-view mirror”
The automotive rear-view market is projected to grow at a CAGR of 5.39% during the forecast period, to reach a market size of USD 12.97 billion by 2022. According to the Global status report on road safety 2015, published by World Health Organization (WHO), more than 1.2 million road traffic deaths occur each year globally. Hence, as a safety measure, all vehicles are required to have rear-view mirrors. OEMs are also integrating features such as auto dimming and blind spot detection into the mirror. According to the National Highway Traffic Safety Administration (NHTSA) statistics, nearly 840,000 blind spot accidents occur each year in the U.S. The increasing awareness about passenger and vehicle safety and trend of integrating additional features into the mirrors are the key factors driving the automotive rear-view mirror market. On the other hand, the key factor restraining the market growth is the high replacement cost of the smart rear-view mirror.

“Passenger car is the fastest growing vehicle segment of the automotive rear-view mirror market”
The passenger car segment is estimated to dominate the automotive rear-view mirror market during the forecast period. According to the Organization Internationale des Constructeurs d’Automobiles (OICA), the global new passenger car sales increased from 55.8 million units in 2010 to 69.4 million units in 2016. The increase in the number of passenger cars, combined with the increasing adoption of the smart rear-view mirror, makes passenger cars the fastest growing vehicle segment of the rear-view mirror market. The rapid increase in the adoption of safety and comfort features in passenger cars plays a significant role in the increasing demand for mirrors in passenger cars.

“Door mounted mirror is the largest segment of the automotive rear-view mirror market”
Based on mounting location, the rear-view mirror market is segmented into body mounted exterior rear-view mirror and door mounted exterior rear-view mirror. Mounting a mirror on the door reduces the aerodynamic drag and retains the strength of ‘A’ pillar of the vehicle. In the case of passenger cars, rear-view mirrors are usually mounted on the door. However, in the case of trucks and buses, external mirrors are mounted on the vehicle body. With OEMs preference for door mounted mirror, the door mounted mirror is expected to be the largest segment of the automotive rear-view mirror market.

“Asia-Pacific region is the largest and fastest growing rear-view mirror market”
The Asia-Pacific region is estimated to lead the rear-view market owing to increasing vehicle production in countries such as China and India. The vehicle production in these countries is projected to grow at a CAGR of 4–5% over the period of next five years. Also, the penetration of rear-view mirrors equipped with features is growing rapidly in these countries owing to increasing adoption of these mirrors by OEMs. This will lead to increased demand for rear-view mirrors in this region during the forecast period.

BREAKDOWN OF PRIMARIES
The study contains insights provided by various industry experts, ranging from equipment suppliers to Tier-1 companies and OEMs. The break-up of the primaries is as follows:
• By Company Type: Tier-1–50%, Tier-2–40%, and OEM–10%
• By Designation: C level–35%, D level–25%, Others–40%
• By Region: Europe–40%, North America–30%, Asia-Pacific–25%, RoW–5%

The report provides detailed profiles of the following companies:
• Gentex Corporation
• Samvardhana Motherson Reflectec
• Magna International Inc.
• Ficosa International S.A.
• Continental AG
• Murakami Corporation
• Ichikoh Industries, Ltd.
• Mitsuba Corporation
• Tokai Rika Co., Ltd.
• Mobvoi, Inc.
• SL Corporation
• Honda Lock Mfg. Co., Ltd.
• Ishizaki Co., Ltd.
• Flabeg Automotive Holding GmbH
• Sakae Riken Kogyo Co., Ltd.

Research Coverage
The automotive rear-view mirror market has been segmented by type (interior & exterior), product (conventional and smart), mounting location (door and body), vehicle type (passenger cars, light commercial vehicles, trucks, and buses), feature (auto dimming, blind spot detection, power control, automatic foldable, heated, and turn signal indicator). The market has been projected in terms of volume (‘000 units) and value (USD million/billion).

Reasons to Buy the Report:
This report contains various levels of analysis, including industry analysis (factor analysis and Porter’s Five Forces) and company profiles and competitive leadership mapping, which together comprise and discuss the basic views on the emerging and high-growth segments of the automotive rear-view mirror market, competitive landscape, high-growth regions and countries, government initiatives, and market dynamics such as drivers, restraints, opportunities, and challenges.
The report enables new entrants/smaller firms as well as established firms to understand the market better to help them to acquire a larger market share. Firms purchasing the report could use any one or a combination of the below-mentioned four strategies (market development, product development/innovation, market diversification, and competitive assessment) to strengthen their position in the market.

The report provides insights with reference to the following points:
• Market Development: The report provides comprehensive information about lucrative emerging markets. The report analyzes the rear-view mirror market for all vehicle types across regions.
• Product Development/Innovation: The report offers detailed insights into R&D activities, upcoming technologies, and new product launches in the rear-view mirror market for all vehicle types.
• Market Diversification: The report provides detailed information about untapped markets, investments, new products, and recent developments in the rear-view mirror market.
• Competitive Assessment: The report offers an in-depth assessment of strategies, products, and manufacturing capabilities of leading players in the rear-view mirror market.
• Competitive Leadership Analysis: The report provides company-level mapping of net sales, growth rate of a company’s net sales, overall regional presence, company’s presence/plans in emerging countries, mapping of inorganic and organic developments, manufacturing plants, company’s presence in the OE and aftermarket segments, product offerings (breadth and depth), new product developments in recent years, and R&D expenditure, among others.
• Company-wise product and business strategy scorecards: The report offers company level analysis and evaluation of product offering category including the breadth of offering, product innovation, and market presence (OEM and aftermarket) and company level analysis and evaluation of business strategies including company’s reach (based on regional presence), revenue growth, infrastructure and clientele, inorganic growth (on the basis of partnerships, collaborations, and acquisitions) and organic growth (on the basis of geographic expansions and new product developments).

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