Automotive Rear View Mirror Market Scope
A rear-view mirror used in automobiles and other vehicles. It is a convex mirror designed to allow the driver to see rearward through the vehicle's rear window. In cars, the rear-view mirror is generally attached to the top of the windshield on a double-swivel mount allowing it to be adjusted to suit the height and viewing angle of any driver and to swing safely out of the way if impacted by a vehicle occupant in a collision. These mirrors are augmented by one or more side-view mirrors, which serve as the only rear-vision mirrors on motorcycles and bicycles.
According to AMA, the Global Automotive Rear View Mirror market is expected to see growth rate of 5.6% Research Analyst at AMA estimates that Japanese Vendors will contribute to the maximum growth of Global Automotive Rear View Mirror market throughout the predicted period.
FLABEG Holding GmbH (Germany), Ficosa International S.A. (Spain), Magna International Inc. (Canada), Gentex Corporation (United States), SL Corporation (South Korea), Burco Inc. (United States), Valeo SA (France), Lumax Automotive Systems Ltd (India), Honda Lock Manufacturing (Japan), Ichikoh Industries, Ltd. (Japan) and Murakami Corporation (Japan) are some of the key players that are part of study coverage.
Segmentation Overview
The study have segmented the market of Global Automotive Rear View Mirror market by Type (Conventional Rear-view Mirror and Smart Rear-view Mirror) and Region with country level break-up.
On the basis of geography, the market of Automotive Rear View 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).
Market Growth Drivers:
Increase in the stringency of vehicle safety standards, Growing Automotive Industry Worldwide and Increasing Demand for Premium Vehicle
Challenges:
Regulations Pertaining to Rear-View Mirror
Restraints:
High Replacement Cost of Smart Rear-View Mirror
Opportunities:
Commercialization and Development of Fully Automatic Vehicle
Market Leaders and their Expansionary Development Strategies
In April 2023, Argosy Private Equity acquired Burco, Inc. Burco manufactures and supplies mirror glass and related products to a variety of automotive and consumer markets throughout the United States, and is an original equipment supplier to many specialty mirror head manufacturers. Headquartered in Grand Rapids, Michigan, Burco was founded in 1979 and is the only manufacturer of replacement side mirrors in the United States. Operating from a 2,000-square-foot manufacturing and warehouse facility, the company offers a large product line designed for more than 4,500 different types of vehicles.
On 25 March 2019, Ficosa, a top-tier global provider devoted to the research, development, manufacturing and marketing of high-technology vision, safety, connectivity and efficiency systems for the automotive and mobility sectors, and Panasonic announced an agreement with BMW to provide their co-developed Interior rear-view mirror with electronic toll collection (ETC) 2.0 for the new X5 model in Japan.
Key Target Audience
Automotive Rear View Mirror Manufacturers, Automotive Rear View Mirror Sub Component Manufacturers, Automotive Rear View Mirror Traders/Distributors, Original Equipment Manufacturers, End Users, Regulatory Bodies and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.