Rear-View Mirror Market Expansion Outlook: $12.37 Billion in 2029

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What Is the Projected CAGR for the Rear-View Mirror Market from 2024 to 2025?
The market size of the rear-view mirror has been witnessing progressive growth in the previous years. It is projected to rise from $9.25 billion in 2024 to $9.63 billion in 2025, with a compound annual growth rate (CAGR) of 4.1%. Factors contributing to this historic period growth included early concerns about automotive safety, heightened traffic density, regulatory prerequisites for mirrors, advances in mirror materials, and the progression in automotive design.

What are the Expected Market Size and CAGR for Rear-View Mirror by 2029?
The market for rear-view mirrors is anticipated to witness considerable expansion in the forthcoming years, with its size escalating to $12.37 billion in 2029 at a compound annual growth rate (CAGR) of 6.4%. This expected growth during the forecast period is attributable to the burgeoning automotive market in developing countries, the sustained emphasis on vehicular safety, enhanced connectivity attributes, the incorporation of intelligent rear-view mirrors, and amalgamation with autonomous vehicle technologies. Notable trends expected in the forecasted period include digital rear-view mirrors, mirrors with augmented reality (AR), technological advancements for reducing blind spots, compact and smooth mirror designs, and interoperability with vehicle-to-everything (v2x) communication systems.

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Which Factors Are Driving the Global Rear-View Mirror Market Expansion?
Boosted growth in the rear-view mirror market is expected due to the rising number of vehicles. These vehicles, including automobiles, trucks and busses that transport people or goods, invariably have engines. Rear-view mirrors are crucial for the safety of both the car and its occupants, so as demand for vehicles increases, so does the demand for rear-view mirrors. The European Automobile Manufacturers' Association, an organization based in Belgium, has reported that global motor vehicle production hit a staggering 85.4 million units in 2022, a 5.7% growth compared to 2021. Furthermore, the National Automobile Dealers Association, an American non-profit organization, has predicted that light vehicles' production in North America will reach 14.2 million units in 2022. This figure is projected to rise to 15.4 million units by 2023, with gradual augmentations in the supply chain. Consequently, the growing number of vehicles is propelling the rear-view mirror market.

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Which Segment Currently Holds the Largest Share of the Rear-View Mirror Market?
The rear-view mirror market covered in this report is segmented -

1) By Product Type: Smart Rear-View Mirror, Conventional Rear-View Mirror
2) By Mounting Location: Door Mounted, Body Mounted
3) By Mirror Type: Exterior Mirror, Interior Mirror
4) By Vehicle Type: Passenger Vehicle, Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV)
5) By Feature: Auto dimming, Blind Spot Detection, Power Control, Automatic Foldable, Heated, Other Features

Subsegments:
1) By Smart Rear-View Mirror: Digital Rear-View Mirrors, Camera-Based Rear-View Mirrors, Connected Rear-View Mirrors
2) By Conventional Rear-View Mirror: Interior Rear-View Mirrors, Exterior Rear-View Mirrors

Which Major Trends Are Shaping the Future of the Rear-View Mirror Industry?
The emergence of technological advancements stands out as a prominent trend in the rear-view mirror market. In an effort to meet consumer demand and consolidate their status, major market players are concentrating on the development of new technologies. For instance, in April 2022, Seeing Machines Ltd, an Australian company specializing in driver monitoring technologies, teamed up with Magna, a Canadian automobile mirror provider, to create a rear-view mirror with integrated Driver Monitoring System (DMS) technology. A prototype was produced, fusing camera, electronics and interior mirror technology while harnessing the improved FOVIO eDME (embedded Driver Monitoring Engine) algorithms and software of Seeing Machines.

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Which Key Players Dominate the Rear-View Mirror Industry Globally?
Major companies operating in the rear-view mirror market include Continental AG, FLABEG Holding GmbH, Gentex Corporation, Magna International Inc., Ishizaki Honten Company Limited, Mitsuba Corporation, Ficosa Internacional SA, SL Corporation, Samvardhana Motherson Group, Valeo SA, Ichikoh Industries Ltd., Burco Inc., Sichuan Skay View, Honda Lock Mfg Co. Ltd., Tokairica Co Ltd., Samvardhana Motherson Reflectec, Murakami Corporation, Murakami Kaimeido Co. Ltd., Mekra Lang GmbH & Co KG, Lumax Industries Limited, Flabeg Automotive Holding GmbH, Magneti Marelli SpA, Kappa Optronics GmbH, FS Fehrer Automotive GmbH, Changchun Fawsn Group Co Ltd., Changzhou Huawei Automotive Trim Co Ltd., Changzhou Xingyu Automotive Lighting Systems Co Ltd., Fuyao Glass Group Co Ltd., Nippon Sheet Glass Co Ltd., Asahi Glass Co Ltd., Compagnie de Saint-Gobain SA, Xinyi Glass Holdings Limited

What Are the Fastest-Growing Regions in the Rear-View Mirror Market?
Asia-Pacific was the largest region in the rear-view mirror market in 2024. The regions covered in the rear-view mirror market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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