Press release
Automotive Mirror Market Expected to Witness a Sustainable Growth over 2025
Automotive Mirror is an essential part of vehicle safety systems that ensures the clear view on roads for any drivers. Scientifically, the wavelength of light and color must be considered which the automotive mirror reflects. Materials technology radically affects the superiority of an automotive mirror. Light reflects from faces which are non-diffusive, that is, opaque and plane, rather than transparent. The aluminum coating is commonly used for standard ultraviolet light whereas gold or silver coating is the best for infrared lights in the automotive mirrors and the di-electric coating is also preferred for infrared lights. A di-electric coating is relatively more scratch resistant and cost effective than a metallic coating. The selection of coating depends on the wavelength as well as durability. Automotive mirrors are widely used in vehicles and in sophisticated optical applications such as microscopes, telescopes and laser-based reading systems such as bar code scanner and disc players globally. Various advantages of automotive mirrors include lower cost, used common electronics components such as sensors, microcontrollers with advance features to save cost and reduce space. Automotive mirrors provide superior performance and easy to install.
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Global Automotive Mirror: Drivers and Restraints
The macroeconomic factors which are driving global automotive mirror market such as the rapid growth rate of urbanization, changing lifestyle, and rising disposable income. Key factors driving the global automotive mirror market include growing automobile industries, increasing demand of high technology mirrors, owing to safety concern among people. The key restraining factor for the global automotive mirror market includes several government policies that levies added burden on the automotive industries which affect adversely domestic automotive mirror market.
Global Automotive Mirror: Market Segmentation
The global automotive mirror market is segmented based on vehicle type, regions distribution channel, and product type.
Global automotive mirror market can be segmented based on vehicle type as follow: Two wheeler, Passenger car, LCV(Light commercial vehicle)(SUV(Sports Utility Vehicle ), Sedan, MPV(Multi-Purpose Vehicle), Hatchback, Luxury Sedan), HCV(Heavy commercial vehicle). Global automotive mirror market can be segmented based on distribution channel as follow: OEM(Original Equipment Manufacturer), After markets. Global automotive mirror market can be segmented based on product type as follow: Rear view, Front view, Side view.
Segmentation Overview:-
Global automotive mirror market can be segmented based on vehicle type includes two wheeler, passenger car, LCV, and HCV wherein LCV automotive mirror markets contribute significantly high revenue share. Among aforementioned LCV type, SUV automotive mirror markets contribute a significant market share, attributed to a high demand of SUV particularly in developing regions. Automotive mirror markets can be segmented on distribution channels such as OEM and after markets, whereas after markets can be segmented based on price based includes premium, as well as economy and OEM of global automotive mirror market, is forecasted to remain leading market. Global automotive mirror market can also be segmented based on product type and region where in product type can be segmented such as rear view, front view, and side view.
Regional overview:-
On the Basis of Geography, global automotive mirror market is segmented into seven key regions: Latin America, North America, Eastern Europe, Western Europe and Asia Pacific except Japan, Middle East & Africa, and Japan. Among the aforementioned region, Western Europe is estimated to have a significant share in automotive mirror market, owing to increase in number of vehicles per citizen, followed by North America. In APEJ region, India and China contributes high revenue share of automotive mirror markets, attributed to the rise in demand of SUV.
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Few market players of automotive mirror markets as follow: Gentex Corporation, Samvardhana motherson, Spafax commercial vehicle mirror technology, Autocop (i) Pvt Ltd., Guangzhou Yixiang Electronics Co., Ltd, Shenzhen ATR Industry Co. Ltd, Tata auto comp systems Ltd, Heyner UK Ltd., Burco, Mirrus Corporation., ITW Chronotherm, Pilot Automotive.
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