About Light Vehicle Mirror
The growing automotive industry in developed, as well as developing countries, is expected to boost the global Light Vehicle Mirror market in the forecasted period. the light vehicle mirror is most generally used in various cars including Sedans and SUVs. the increasing urbanization, growing disposable income in developing countries will help to trigger the demand for the global market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 7.8% |
Leading key players are focusing on strategic partnerships to improve their products and services. Companies are focusing on increasing their client base to strengthen market position and to enhance product & service offerings. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Light Vehicle Mirror market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Ficosa International (Spain), Gentex Corporation (United States), Magna International (Canada), Murakami Kaimeido (Japan), Samvardhana Motherson Group (Germany), Continental (Germany), Ichikoh (Japan), Mitsuba (Japan), Tokai Rika (Japan) and Mobvoi (China) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are SL Corporation (South Korea), Honda Lock (Japan), Ishizaki Honten (Japan) and Flabeg Automotive (Germany).
Segmentation Overview
AMA Research has segmented the market of Global Light Vehicle Mirror market by Type (Internal Mirror and External Mirror), Application (Sedans, SUVs, Light Truck and Others) and Region.
On the basis of geography, the market of Light Vehicle Mirror has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. OME will boost the Light Vehicle Mirror market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Features, the sub-segment i.e. Auto-Dimming will boost the Light Vehicle Mirror market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Demand for Premium Automobiles and Technological innovation such as Smart Mirror
Market Growth Drivers:
Growing Automotive Industry Worldwide and Incresing Inclination towards Buying Cars
Restraints:
High Replacement Cost of Light Vehicle Mirror
Opportunities:
Government Stringent Regulations For Safty and Security and Increasing demand for Automobiles in the Emerging Markets
Market Leaders and their expansionary development strategies
In August 2020, Automotive Company, Panasonic Corporation developed jointly with Nissan Motor Corporation a high-performance electronic mirror for driver safety. It features significant image definition enhancement for better visibility at night and control of a flicker phenomenon caused by the LED lamps of vehicles behind.
In September 2023, Oracle Lighting announced its new LED Off-Road Side Mirror Ditch Lights for 2019-23 Ram 1500 DT trucks. The lights integrate seamlessly with factory mirrors and feature a matte black housing for a rugged look while incorporating the safety, functionality and durability Oracle Lighting products
Key Target Audience
Light Vehicle Mirror Manufactures, Light Vehicle Mirror Suppliers, Light Vehicle Mirror Distributors, Government Regulatory Bodies, Private Research Organizations, Government Reaserch Orgnizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.