The
global rear-view
mirror market size is expected to reach USD 15.76 billion by 2025,
according to a study conducted by Grand View Research, Inc., exhibiting a 5.7%
CAGR during the forecast period. Increasing awareness among people regarding
vehicle safety and rising sales of luxury vehicles equipped with navigation and
infotainment systems have bolstered market growth.
Growing
interest of rear-view mirror manufacturing companies, such as Continental AG,
toward capturing a larger share in the developed markets of regions such as
North America is expected to drive product adoption. Additionally, rise in
commercial activities is bolstering market growth.
The
Asia Pacific regional market is expected to witness considerable growth, owing
to increasing sales of passenger vehicles. Stringent government regulations
pertaining to passenger and vehicle safety are further bolstering the growth of
the market. Additionally, surging investments in automobile production in many
developing countries of the region are driving the market.
However,
high replacement, development, and maintenance costs of smart rear-view mirrors
are expected to hinder market growth. Thus, rear-view mirror providers are
focusing on developing affordable solutions that can be used in other markets
such as utilities and transportation.
Browse full research report on Rear-view Mirror Market: https://www.grandviewresearch.com/industry-analysis/rear-view-mirror-market
Further
key findings from the study suggest:
- Auto-dimming
feature offers both visual and audio alerts and the segment is expected to
register the highest growth over the forecast period by feature
- Demand for
door-mounted mirrors is expected to increase in commercial vehicles
- Demand for
smart rear-view mirrors is expected to increase in passenger vehicles
owing to benefits such as a built-in camera that provides enhanced vision
in unfavorable weather conditions and eliminates glare caused by
headlights of other cars
- Erratic cold
weather conditions are one of the key factors driving demand for mirrors
with in-vehicle heating functions in North America and Europe
- Asia Pacific
is expected to emerge as the fastest-growing region over the forecast
period owing to increasing sales of passenger and high-end premium
vehicles
- Prominent
industry participants include Gentex Corporation; Continental AG; Valeo;
Magna International, Inc.; and Murakami Corporation.
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/automotive-and-transportation
Grand
View Research has segmented the global rear-view mirror market based on feature
type, mounting location, product type, type, vehicle type, and region:
Rear-view
Mirror Feature Type (Revenue, USD Million, 2014 - 2025)
- Auto-Dimming
- Blind Spot
Detection
- Power Control
- Automatic
Folding
- Heating
Function
- Others
Rear-view
Mirror Mounting Location Outlook (Revenue, USD Million, 2014 - 2025)
- Door Mounted
- Body Mounted
Rear-view
Mirror Product Type Outlook (Revenue, USD Million, 2014 - 2025)
- Smart
Rear-View Mirror
- Conventional
Rear-View Mirror
Rear-view
Mirror Type Outlook (Revenue, USD Million, 2014 - 2025)
- Exterior
Mirror
- Interior
Mirror
Rear-view
Mirror Vehicle Type Outlook (Revenue, USD Million, 2014 - 2025)
- Passenger
Vehicles
- Commercial
Vehicles
Rear-view
Mirror Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- Asia Pacific
- China
- India
- Japan
- South America
- Brazil
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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