Automotive Rear View Mirror Market Insights and Projections 2024-2030

Automotive Rear View Mirror Market is not just witnessing growth; it's experiencing a transformative revolution. With a current valuation of USD 9 billion in 2023, the market is projected to soar to a staggering USD 15.22 billion by 2030, boasting a robust compound annual growth rate (CAGR) of 7.8%. This meteoric rise can be attributed to a perfect blend of traditional rear-view mirrors and cutting-edge smart mirror solutions that are reshaping the automotive landscape.

The Automotive Rear View Mirror Market's trajectory is not solely driven by market forces; it's deeply influenced by the quest for enhanced safety features. Regulatory mandates worldwide, including the requirement for backup cameras, have propelled the adoption of advanced rear-view mirrors, particularly the smart mirrors with features like blind-spot detection and collision warnings.

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Automotive Rear View Mirror Market Dynamics

The Automotive Rear View Mirror Market is experiencing a remarkable surge in growth opportunities, owing to technological advancements and shifting consumer preferences. The integration of advanced safety features into rear-view mirrors is driving up market demand.

Notably, manufacturers such as BMW are introducing electric models with digital mirrors to improve visibility and safety standards, demonstrating the Automotive Rear View Mirror Market's adaptability to changing automotive trends.

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Automotive Rear View Mirror Market Segment Analysis

Various functionalities play different roles in the segment analysis of features within the Automotive Rear View Mirror Market, depending on their applications. Drivers appreciate the convenience of power-controlled mirrors, which allow them to easily adjust mirror angles.

This feature provides seamless adaptability, enhancing driver comfort and safety, whether it is adapting to different drivers' preferences, ensuring optimal views in congested traffic, or parking. Furthermore, the ease of electronically adjusting mirror positions improves overall driving convenience, making these mirrors a desirable feature in modern vehicles.

By Type

Interior Mirror
Exterior Mirror
By Features

Analysis Power Controlled
Blind Spot Detection
Auto Foldable
Heating function
Others
By Sales Channel

OEM
Aftermarket
By Application

Passenger Cars
Commercial Vehicles

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Who are Automotive Rear View Mirror Market Key Players?

North America
1. Gentex Corporation (United States)
2. Magna International Inc. (Canada)
3. Muth Mirror Systems, LLC (United States)

Europe
1. Ficosa International SA (Spain)
2. FLABEG Automotive Holding GmbH (Germany)
3. Samvardhana Motherson Reflectec (SMR) (Germany)
4. Magna Mirrors Holding GmbH (Germany)
5. SL Mogilev (Belarus)

Asia Pacific
1. Murakami Corporation (Japan)
2. Tokai Rika Co., Ltd. (Japan)
3. Mitsuba Corporation (Japan)
4. SL Corporation (South Korea)
5. Lumax Industries Limited (India)
1. Ichikoh Industries, Ltd. (Japan)
2. Mobvoi (China)
3. Honda Lock Mfg. Co., Ltd. (Japan)
4. Murakami Kaimeido (Japan)
5. Bosal Nederland B.V. (Netherlands)
6. Chengdu Telewing Electronics Co., Ltd. (China)
7. Foshan Yifeng Auto Parts Manufacturing Co., Ltd. (China)
8. Changzhou Lingyun Auto Electron Co., Ltd. (China)
9. Shanghai Ganxiang Automobile Mirror Co., Ltd. (China)
10. Sichuan Skay-View Automobile Parts Co., Ltd. (China)
11. Chennai Radha Engineering Works Pvt. Ltd. (India)
12. Chennai Auto-View Mirror Pvt. Ltd. (India)

Table of content for the Automotive Rear View Mirror Market includes:

Part 01: Executive Summary

Part 02: Scope of the Automotive Rear View Mirror Market Report

Part 03: Automotive Rear View Mirror Market Landscape

Part 04: Automotive Rear View Mirror Market Sizing

Part 05: Automotive Rear View Mirror Market Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

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Automotive Rear View Mirror Market Regional Insights:

North India is leading in the sunglasses market, holding 35% of the share and expected to maintain its position during the forecast period. Delhi, in particular, stands out due to its strong fashion culture. The demand for eye protection, vision correction spectacles, and international brands is on the rise. The increasing use of digital devices among the youth is fueling the need for vision correction spectacles and contact lenses.

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