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Automotive Rear-View Mirror Market Analysis 2018 To 2023 - Global Industry Growth, Size, Trends, Share, And Competitive Outlook To 2023
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The key players in automotive rearview mirror market are FLABEG Holding GmbH (Germany), Ficosa International S.A. (Spain), Magna International Inc. (Canada), Gentex Corporation (U.S.), SL Corporation (South Korea), and Burco Inc. (U.S.). Valeo SA (France), Lumax Automotive Systems Ltd (India), Honda Lock Manufacturing (Japan), Ichikoh Industries, Ltd. (Japan), and Murakami Corporation (Japan) are among others.
On the basis of the mounting position, the door mounted variety is more commonly used. This is primarily due to the ease and freedom it provides in syndicating the electrical and electronic system. This helps in easy mirror part replacement and repair if need be. On the basis of the location, both the varieties – interior rearview mirror and the exterior rearview mirror are used. The interior mirror offers more options for customization like toggling between a normal mirror and transforming into the digital screen. This helps in better maneuverability and vehicle control. On the basis of the technology, the smart rear view mirror is costly and offers more plethora of options in terms of the functionality. The conventional rear-view mirror, on the other hand, is a more cost-effective option and can be fitted even in budget vehicles. On the basis of the features, the most commonly used features are the signal indicator, auto folding option and power-controlled variety. The more expensive features like the auto dimming mirror and blind spot detection offer better vehicle control and reduction in mishaps.
On the basis of region, the market is segmented into North America, Asia Pacific, Europe, and Rest of the World. The North America market (especially U.S. and Canada), is one of the largest automotive market in the world. The number of SUVs and mini trucks plying on the roads makes this market potentially strong for the growth of the rearview mirror. The Asia Pacific region is called the future automotive hub of the world owing to the rising middle class and increasing purchase power. Thus this region as well shows huge potential for the rearview mirror system. The Europe region and the people that reside here, are known for their penchant for high-end cars, whose safety features would further enhance using the rearview mirror system.
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