Global Rear-view Mirror Market to reach USD 11.65 billion by 2027.Global Rear-view Mirror Market is valued approximately at USD 8.85 Billion in 2020 and is anticipated to grow with a healthy growth rate of more than 4.0% over the forecast period 2021-2027. Rear-view mirror is a flat mirror present in automobiles and in other vehicles which is designed to allow the driver to see the rearward through vehicle's rear window. The global Rear-view Mirror market is being driven by awareness regarding vehicle and passenger safety, trend of integration of additional features, as well as rise in demand for premium segment vehicles. Furthermore, integration of infotainment and navigation features and rise in automotive industry will provide new opportunities for the global Rear-view Mirror industry. For instance, according to International European Agency, in year 2020, Consumers spending on purchase of electric cars stood at USD 120 billion, which is increased about 50% as compared to year 2019, these breaks down into 41% increase in sales and 6% rise in average prices. As a result, increased in purchase of automotive vehicles will necessitate the use of more rear-view mirror in the manufacturing of different automobile parts, will serve as a catalyst for the Rear-view Mirror industry in the future. However, high cost of replacement of smart rear-view mirror, may impede market growth over the forecast period of 2021-2027.
The regional analysis of the global Rear-view Mirror Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Increasing production of vehicles and increase in demand for luxury vehicles makes the Asia Pacific the leading region across the world in terms of market share. Whereas Europe is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027, due to presence of prominent luxury car manufacturers.
Major market player included in this report are:
Ficosa International SA
Ishizaki Honten Company, Limited
Magna International Inc.
Tokai rica, Co, Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Feature type:
Blind Spot Detection
By Mounting Location:
By Product type:
Smart Rear-view Mirror
Conventional Rear-view Mirror
By vehicle Type:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027.
Target Audience of the Global Rear-view Mirror Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers