PUBLISHER: The Business Research Company | PRODUCT CODE: 1392443
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392443
“Auto-Dimming Mirror Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on auto-dimming mirror market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for auto-dimming mirror? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The auto-dimming mirror market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
Auto-dimming mirrors consist of a mirror and an electronic system equipped with photosensors to detect light from the front and back. These mirrors play a crucial role in enhancing visibility and safety during nighttime driving by reducing glare from following vehicles on busy routes.
The primary types of fuel in the auto-dimming mirror market are internal combustion engines, hybrids, and electric vehicles. Internal combustion engines (ICE) involve the ignition and combustion of fuel within the engine, converting the energy into work. These engines consist of a fixed cylinder and a moving piston. Vehicle types in this market include passenger vehicles and commercial vehicles, offering various functionalities such as connected auto-dimming mirrors and non-connected auto-dimming mirrors. Applications of auto-dimming mirrors extend to both inside rear-view mirrors and outside rear-view mirrors.
The auto dimming mirror solutions market research report is one of a series of new reports from The Business Research Company that provides auto dimming mirror solutions market statistics, including auto dimming mirror solutions industry global market size, regional shares, competitors with an auto dimming mirror solutions market share, detailed auto dimming mirror solutions market segments, market trends and opportunities, and any further data you may need to thrive in the auto dimming mirror solutions industry. This auto-dimming mirror solutions market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The auto-dimming mirror market size has grown strongly in recent years. It will grow from $2. 12 billion in 2023 to $2. 25 billion in 2024 at a compound annual growth rate (CAGR) of 5. 9%. The expansion observed in the historical period can be attributed to several factors, including a growing awareness of driver safety and the importance of glare reduction, the integration of advanced driver assistance systems (ADAS) in vehicles, an increasing demand for commercial vehicles, stringent safety regulations promoting the use of anti-glare mirrors, and a heightened demand for luxury and high-end vehicles equipped with advanced features.
The auto-dimming mirror market size is expected to see strong growth in the next few years. It will grow to $2. 88 billion in 2028 at a compound annual growth rate (CAGR) of 6. 3%. The anticipated growth in the forecast period can be attributed to several factors, including a surge in the adoption of electric and autonomous vehicles, the integration of advanced sensors and cameras in auto-dimming mirrors, the growth of the connected car ecosystem, an increasing focus on driver comfort and reducing eye strain during night driving, and the expansion of the automotive market in emerging economies. Major trends expected during this period encompass advancements in camera technology, the use of artificial intelligence (AI) for adaptive dimming, the development of electrochromic mirrors with customizable tint levels, the integration of digital displays and augmented reality features, and collaboration between automakers and technology providers.
The anticipated surge in the automotive industry is poised to drive the growth of the auto-dimming mirror market in the foreseeable future. Auto-dimming mirrors are pivotal in vehicles, reducing glare from other vehicles' lights and aiding in driver focus. For instance, according to the India Brand Equity Foundation, automobile sales in India witnessed a 5. 8% increase in May 2022, reaching 18. 49 million units compared to 17. 47 million units in 2020. Moreover, the premium car segment experienced a 19. 7% surge in sales, with 2,259 units sold in December 2021 compared to the previous year. Thus, the expanding automotive industry is a significant driver for the auto-dimming mirror market's growth.
The heightened production of passenger vehicles is set to propel the auto-dimming mirror market forward. Auto-dimming mirrors play a crucial role in passenger vehicles, enhancing safety and visibility during low-light conditions. For instance, according to the Society of Indian Automobile Manufacturers (SIAM), the production of passenger vehicles in 2021-2022 reached 3,650,698 units, marking a notable 19% increase compared to the preceding year. This substantial rise in passenger vehicle production significantly influences the demand for automotive plastics, consequently impacting the auto-dimming mirror market positively.
Technological advancements are a pivotal trend shaping the auto-dimming mirror market landscape. Leading companies in this sector are actively introducing innovative technologies to maintain their market position. For instance, Gentex, a US-based company specializing in automatic-dimming rear-view mirrors, launched an updated version of its HomeLink car-to-home automation system. This latest version operates on Bluetooth, allowing control of various radio frequencies through cloud-based home automation technology. Additionally, Gentex developed an app enabling cloud-based device operation, showcasing their commitment to integrating cutting-edge technology into their products.
Major players in the auto-dimming mirror industry are pushing the envelope with innovative products to cater to the escalating demand. These advanced mirrors employ sophisticated sensor technology, automatically adapting reflectivity to diminish glare from trailing vehicle headlights, thereby bolstering driver safety. For instance, Ambilight Inc., a China-based company specializing in flexible electrochromic technology, introduced the world's premier black-gray EC dimming product line for Vehicles in May 2023. This groundbreaking line encompasses the EC dimming sunroof, EC sidelite, and solid-state EC auto-dimming rearview mirror. These devices intelligently manage light, regulate temperature, and ensure privacy, significantly enhancing driving comfort, safety, and the overall technical sophistication of automobiles.
In a strategic move in October 2021, Motherson Sumi Systems Limited, an India-based automotive components manufacturer, acquired Nanchang JMCG Mekra Lang Vehicle Mirror for an undisclosed sum. This acquisition plays a pivotal role in SMR Group's expansion into the commercial vehicle sector. Furthermore, it presents SMR with an opportunity to explore and capitalize on additional prospects for growth within this burgeoning market segment, consolidating the company's foothold in a dynamically evolving market. Nanchang JMCG stands as a prominent China-based manufacturer specializing in vehicle mirrors.
Major companies operating in the in the auto-dimming mirror market report are Ficosa International SA, Flabeg Automotive Glass Group GMBH, Gentex Corporation, Honda Lock Mfg. Co. Ltd., Konview Electronics Corporation Limited, Magna International Inc., Murakami Corporation, Shenzhen Germid Co. Ltd., Samvardhana Motherson Group, Tokairika Co. Ltd., SL Corporation, Ichikoh Industries Ltd., Metagal Industria E-commercio Ltd., Fuyao Glass Industry Group Co. Ltd., Dura Automotive Systems, Webasto SE, Glas Trosch Holding AG, Shanghai Ganxiang Automobile Electric Co. Ltd., Shanghai Yaxing Automotive Electronics Co. Ltd., Yantai Autobest Industry Co. Ltd., ZKW Group, Kyocera Corporation, Donnelly Corporation, Ishizaki Honten Co. Ltd., Visiocorp plc, Continental AG, Valeo SA, Denso Corporation, Robert Bosch GmbH, ZF Friedrichshafen AG
Asia-Pacific was the largest region in the auto-dimming mirror market in 2023. North America is expected to be the fastest growing region in the forecast period. The regions covered in the auto-dimming mirror market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the auto-dimming mirror market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The auto-dimming mirror market consists of sales of conductive layers, ion storage, electrolyte, and electrochromatic layers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.