Automotive Mirror Market Report: Trends, Forecast and Competitive Analysis

Automotive Mirror Market Trends and Forecast

The future of the global automotive mirror market looks promising with opportunities in the interior as well as exterior mirror market. The global automotive mirror market is expected to reach an estimated $11.3 billion by 2027. The global automotive mirror market is forecast to grow at a CAGR of 6.2% by value from 2021 to 2027. The major driver of growth for this market is increase in vehicle production and increasing content of electronic technology in vehicles.

Emerging Trends in the Automotive Mirror Market

Emerging trends, which have a direct impact on the dynamics of the industry, include development of full-aluminum mirrors and environment-friendly mirrors.

A total of 154 figures / charts and 53 tables are provided in this 193-page report to help in your business decisions. Sample figures with some insights are shown below. To learn the scope, benefits, companies researched, and other details of the global automotive mirror market report, please download the report brochure.

Automotive Mirror Market by Segments

Lucintel forecasts that exterior mirror segment will remain the largest segment by application and is also expected to witness the highest growth over the forecast period. The study includes trends and forecast for the global automotive mirror market by application, vehicle type, end user, and region, as follows:

Automotive Mirror Market by Application [Value ($ Billion) and Volume (Million Units) from 2016 to 2027]:

• Interior Mirror
• Basic Mirror
• Auto-Dimming Mirror
• Multi-Functional Mirror
• Exterior Mirror
• Basic Mirror
• Medium Mirror
• Premium Mirror
• Commercial Mirror
• Auto-Dimming Mirror

Automotive Mirror Market by End-user [Value ($ Billion) and Volume (Million Units) from 2016 to 2027]:

• OEM
• Aftermarket

Automotive Mirror Market by Vehicle Type [Value ($ Billion) and Volume (Million Units) from 2016 to 2027]:

• Passenger Car
• Commercial Vehicle

Automotive Mirror Market by Region[Value ($ Billion) and Volume (Million Units) from 2016 to 2027]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Automotive Mirror Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies automotive mirror companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the automotive mirror companies profiled in this report includes.

• Magna International Inc.
• Samvardhana Motherson Group
• Gentex Corporation
• Ficosa International
• Murakami Kaimeido

Automotive Mirror Market Insights

• Lucintel forecasts that exterior mirror segment will remain the largest segment by application and is also expected to witness the highest growth over the forecast period as these mirror plays a vital role in providing vehicle safety, aesthetics, and convenience. This mirror also incorporates various styling elements, like LED turn signal lamps and high gloss surfaces.
• Asia Pacific and Rest of the World are expected to witness significant growth over the forecast period because of increasing penetration of auto-dimming mirrors in vehicles in developing countries to follow government regulations on vehicular safety.

Features of the Global Automotive Mirror Market

• Market Size Estimates: Global automotive mirror market size estimation in terms of value ($B) shipment.
• Trend and Forecast Analysis: Market trends (2016-2021) and forecast (2022-2027) by various segments.
• Segmentation Analysis: Global automotive mirror market size by various segments, such as by material, flow structure, vehicle type, and end user in terms of value and volume.
• Regional Analysis: Global automotive mirror market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
• Growth Opportunities: Analysis of growth opportunities in different segments by material, flow structure, vehicle type, end user, and regions for the global automotive mirror market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape of the global automotive mirror market.
• Analysis of competitive intensity of the industry based on Porter's Five Forces model

FAQ

Q1. What is the automotive mirror market size?

Answer: The global automotive mirror market is expected to reach an estimated $11.3 billion by 2027.

Q2. What is the growth forecast for automotive mirror market?

Answer: The automotive mirror market is expected to grow at a CAGR of 6.2% from 2021 to 2027.

Q3. What are the major drivers influencing the growth of the automotive mirror market?

Answer: The major driver for this market is increase in vehicle production and increasing content of electronic technology in vehicles.

Q4. What are the major vehicle type or end use industries for automotive mirror?

Answer: Passenger car is the major segment by vehicle type for automotive mirror.

Q5. What are the emerging trends in automotive mirror market?

Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include development of full-aluminum mirrors and environment-friendly mirrors.

Q6. Who are the key automotive mirror companies?

Answer: Some of the key automotive mirror companies are as follows:

• Magna International Inc.
• Samvardhana Motherson Group
• Gentex Corporation
• Ficosa International
• Murakami Kaimeido

Q7.Which automotive mirror segment will be the largest in future?

Answer: Lucintel forecasts that exterior mirror segment will remain the largest segment by application and is also expected to witness the highest growth over the forecast period as these mirror plays a vital role in providing vehicle safety, aesthetics, and convenience. This mirror also incorporates various styling elements, like LED turn signal lamps and high gloss surfaces.

Q8: In automotive mirror market, which region is expected to be the largest in next 5 years?

Answer:Asia Pacific and Rest of the World are expected to witness significant growth over the forecast period because of increasing penetration of auto-dimming mirrors in vehicles in developing countries to follow government regulations on vehicular safety.

Q9. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

• Q.1 What are some of the most promising growth opportunities for the global automotive mirror market by application (Interior and Exterior), end-user (OEM and Aftermarket), vehicle type (Passenger Car and Commercial Vehicle), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2 Which segments will grow at a faster pace and why?
• Q.3 Which region will grow at a faster pace and why?
• Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges, and business risks in this market?
• Q.5 What are the business risks and competitive threats in this market?
• Q.6 What are the emerging trends in this market and the reasons behind them?
• Q.7 What are some of the changing demands of customers in the market?
• Q.8 What are the new developments in the market and which companies are leading these developments?
• Q.9 Who are the major players in this market? What strategic initiatives are being taken by key players for business growth?
• Q.10 What are some of the competing products in this market and how big of a threat do they pose for loss of market share by product substitution?
• Q.11 What M&A activity has occurred in the last five years?