What is Car Rearview Mirror?
Car Rearview Mirror is a flat mirror which is designed for safety purpose. It allows driver to see rearward through the Car's rear window. Car rearview mirror is convex in nature. It enable driver to view larger area than plane mirror. It produces erect images which are much smaller than object. Thus, it helps to see backside of the care. Many technological advancements tends to offer smart rearview mirror. They are equipped with multiple advanced features like tracking, video recording and others. Thus, it impacts on the demand in positive manner. Along with it, increasing concern regarding driver and passenger safety leads to the demand for car rearview mirror.
The market study is broken down by Type (Exterior Rearview Mirror and Interior Rearview Mirror) and major geographies with country level break-up.
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.
Gentex Corporation (United States), Murakami Corporation (Japan), Able Progress Industry Co., Ltd. (Thailand), SMP Deutschland GmbH (Germany), Magna Mirrors (Shanghai) Co., Ltd. (China), Shanghai Ganxiang Automotive Mirror Co., Ltd. (China), AMPAS Industries Co., Ltd. (Thailand), Ichikoh Industries (Thailand) Co., Ltd. (Thailand), Samvardhana Motherson Group (India), Ficosa International, S.A. (Italy), Honda Lock Mfg. Co., Ltd. (Japan) and CIE Automotive, S.A. (Spain) are some of the key players that are part of study coverage.
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Car Rearview Mirror market by Type, Application and Region.
On the basis of geography, the market of Car Rearview 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 Mounting Location , the sub-segment i.e. Body Mounted will boost the Car Rearview Mirror market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Product Type, the sub-segment i.e. Smart Rearview Mirror will boost the Car Rearview Mirror market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Sales Channel , the sub-segment i.e. Online{E-Commerce} will boost the Car Rearview Mirror market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Frame Material, the sub-segment i.e. Polypropylene will boost the Car Rearview Mirror market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
In June 2018, Xiaomi has launched a new smart rearview mirror CNY 399 and CNY 99. This rearview mirror are enabled with video recording function. They combines a dash cam, a backup camera, and a rearview mirror. It will assist drivers in parking and keeping a track of who is behind their car on the highway. Company has packed a Sony IMX323 image sensor with a f/1.8 aperture in the Mi Rearview Mirror Driving Recorder. It gives lower reflection or distortion in the images. In addition, users can also give voice commands to the device for capturing images, video recording, and switch on and off the display.
According to the Construction and Use Regulations 1986, all vehicles must have at least two mirrors unless they were first used before the 1st of August 1978. In addition, the vehicle must have an undamaged rear-view mirror in place, and a working driver's wing mirror.
Market Trend
- Huge Demand for Car Rearview Mirror owing to Safety Concern
Market Drivers
- Rising Expenditure of Automotive Industry
- Growing Demand for Passenger Car leads to demand for Car Rearview Mirror
Opportunities
- Increasing Technological Advancements like automatic folding, Heating Function with Smart Rearview Mirror
- Augmenting Concern regarding Safety of Drivers and Passengers has created Growth Opportunities
Restraints
- Pandemic has impacted on the Automotive Industry and overall Car Sale in Negative Manner
Challenges
- High Price Associated with Multiple Feature
Key Target Audience
Car Rearview Mirror Manufacturers, Car Rearview Mirror Suppliers/Distributors, Raw Material Suppliers, Regulatory Authorities, New Entrants/Investors, Strategic Business Planners, Governments and End Use Industry
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 the 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 purpose to understand companys positioning regarding 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 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, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.