Rear-view Mirror Market is anticipated to reach USD 15.76 billion by 2025. It is anticipated to grow at a healthy rate in the years to come. The important function of rare-view mirror is to provide the driver a clear vision of all the objects at the side of the vehicle. To confirm safety, manufacturers are concentrating on innovative technologies for the growth of rear-view mirrors. For instance, a newly launched rear view mirror includes a rear camera, where the whole display mirror is changed into a video display that offers a panoramic view of the things behind the car.
In
addition, the advancement in the technology, concept cars are coming with
camera installed instead of mirrors; which will upsurge the demand for
rare-view mirror. On the other hand, high cost of cameras as compared to
traditional rear-view mirrors will hamper the market in the years to come. The
rear-view mirrors market is anticipated to grow at a significant CAGR of 5.7%
in the upcoming period as the scope, product types, and its applications are
increasing across the globe.
Request Sample Copy of This Market Research @
https://www.millioninsights.com/industry-reports/rear-view-mirror-market-size/request-sample
Rear-view
mirror industry may be explored by feature type, mounting location outlook,
product type, type outlook, vertical outlook, and geography. It may be explored
by feature type as Blind Spot Detection, Auto-Dimming, Power Control, Heating
Function, Automatic Folding, and Others. The “heating function” dominated the
market in 2016 and is anticipated to remain its dominance over the upcoming
period.
Rear-view
mirror industry may be explored by mounting location outlook as Door Mounted,
and Body Mounted. The “Door mounted” segment is anticipated to dominate the
rare-view mirror market in the forecast period. It is also termed as “Wing
Mirrors” and are extensively used in luxury vehicles.
Rear-view
mirror market may be explored by product type as Smart Rear-View Mirror, and
Conventional Rear-View Mirror. It may be explored by type as Exterior Mirror,
and Interior Mirror. The Exterior mirror is anticipated to dominate the
automotive rare-view mirror market in the forecast period. The usage of exterior
mirrors is essential in all types of vehicles. The passenger cars usually have
two exterior mirrors. However, in the case of buses and trucks, the number of
exterior mirrors is higher than passenger cars. Exterior mirrors frequently
comprise features such as blind spot detection, auto dimming, and turn signal
indicator.
Browse Full Research Report @
https://www.millioninsights.com/industry-reports/rear-view-mirror-market-size
Rear-view
Mirror industry may be explored by Vertical Outlook as Passenger Vehicles, and
Commercial Vehicles. The Passenger vehicle is anticipated to dominate the
automotive rare-view mirror market in the forecast period. Passenger vehicles
comprise all personal-use transportation vehicles, such as luxury vehicles,
SUVs, and sedans, and are usually considered to accommodate five to eight
persons.
Asia-Pacific
accounted for the major share of the Rear-view Mirror Market Size in 2016 and
will continue to lead in the forecast period as demand for automotive mirror is
directly associated to the vehicle production in this region. The Asia-Pacific
represents countries such as South Korea, China, India, and Japan. These
regions, with the world’s highest vehicle manufacturing units, will upsurge the
demand for the market in the upcoming period.
Some
of the key players that fuel the growth of the rear-view mirror industry include
Magna International Inc., Murakami Corporation, Ichikoh Industries Ltd.,
Samvardhana Motherson Reflectec, Lumax Automotive Systems Ltd, Flabeg
Automotive Holding GmbH, SL Corporation, Ficosa Internacional SA, Burco Inc.,
Valeo SA, and Gentex Corporation. The leading companies are taking up
partnerships, mergers and acquisitions, and joint ventures in order to boost
the inorganic growth of the industry.
No comments:
Post a Comment