According to a new market report published by Lucintel, the future of the global automotive mirror market looks promising with opportunities in the interior as well as exterior mirror market. The global automotive mirror market is expected to reach an estimated $11.3 billion by 2027. The global automotive mirror market is forecast to grow at a CAGR of 6.2% by value from 2021 to 2027. The major driver of growth for this market is increase in vehicle production and increasing content of electronic technology in vehicles.
Browse 53 market data tables and 154 figures spread through 193 pages and in-depth TOC on “Global Automotive Mirror Market"
In this market, interior mirror (basic, auto-dimming and multi-functional) and exterior mirror (basic, medium, premium, commercial and auto-dimming mirrors) are the market segment by application type. On the basis of vehicle type, market is segmented as passenger car and commercial vehicle. On the basis of its comprehensive research, Lucintel forecasts that the interior mirror segment is expected to show above average growth during the forecast period.
Within the global automotive mirror market, the OEM segment is expected to remain as the largest market. Increase in vehicle production and changes in the government policies are the major factors, which would spur growth for this segment over the forecast period.
APAC is expected to remain the largest market due to large vehicle production and rising customer’s concern towards their safety and comfortability.
Asia Pacific and Rest of the World are expected to witness significant growth over the forecast period because of increasing penetration of auto-dimming mirrors in vehicles in developing countries to follow government regulations on vehicular safety.
Emerging trends, which have a direct impact on the dynamics of the industry, include the introduction of hybrid full display mirror system and development of blind spot monitoring and cross path detection systems. Magna International Inc., Samvardhana Motherson Group, Gentex Corporation, Ficosa International, and Murakami Kaimeido are the major mirror suppliers in the global automotive mirror market. Some companies are opting for merger & acquisition as strategic initiatives for driving growth.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in global automotive mirror market by material, flow structure, vehicle type, end user and region, and has compiled a comprehensive research report entitled “Growth Opportunities in Global Automotive Mirror Market 2022-2027: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a springboard for growth strategy, as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for growth opportunities in the global automotive mirror market by application, vehicle type, end user, and region, as follows:
Automotive Mirror Market by Application [Value ($ Billion) and Volume (Million Units) from 2016 to 2027]:
•Interior Mirror
–Basic Mirror
–Auto-Dimming Mirror
–Multi-Functional Mirror
•Exterior Mirror
–Basic Mirror
–Medium Mirror
–Premium Mirror
–Commercial Mirror
–Auto-Dimming Mirror
Automotive Mirror Market by End-user [Value ($ Billion) and Volume (Million Units) from 2016 to 2027]:
•OEM
•Aftermarket
Automotive Mirror Market by Vehicle Type [Value ($ Billion) and Volume (Million Units) from 2016 to 2027]:
•Passenger Car
•Commercial Vehicle
Automotive Mirror Market by Region [Value ($ Billion) and Volume (Million Units) from 2016 to 2027]:
•North America
•Europe
•Asia Pacific
•The Rest of the World
This 193-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/automotive-mirror-market.aspx or write us at helpdesk@lucintel.com.
About Lucintel
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This report answers the following 11 key questions:
Q.1 What are some of the most promising, high-growth opportunities for the automotive mirror market by application (Interior and Exterior), end-user (OEM and Aftermarket), vehicle type (Passenger Car and Commercial Vehicle), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers, challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by materials / product substitution?
Q.11. What M & A activity has occurred in the last 5 years and what has its impact been on the industry?