Rear-view Mirror Market (By Feature Type: Auto-dimming, Blind Spot Detection, Power Control, Automatic Folding, Heating Function; By Mounting Location: Door Mounted, Body Mounted; By Product Type: Smart Rear-view Mirror, Conventional Rear-view Mirror; By Type: Exterior Mirror, Interior Mirror; By Vehicle Type: Passenger Car, Commercial Vehicles) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030

Published Date : Nov 2021 | No. of Pages : 150+ Pages | Category : ICT

The global Rear-view Mirror market size is expected to be worth around US$ 15.51 billion by 2030, according to a new report by Vision Research Reports.

The global Rear-view Mirror market size was valued at US$ 9.85 billion in 2020 and is anticipated to grow at a CAGR of 5.1% during forecast period 2021 to 2030.

Report Coverage

Report Scope Details
Market Size US$ 15.51 Billion by 2030
Growth Rate CAGR of 5.1% From 2021 to 2030
Base Year 2021
Forecast Period 2021 to 2030
Segments Covered Feature Type, Mounting Location, Product Type, Type, Vehicle Type
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned Continental AG; Ficosa Internacional SA; Gentex Corporation; Ishizaki Honten Company Limited; Magna International Inc.; MITSUBA Corporation; Murakami Corporation; SL Corporation; Tokairica Co, Ltd.; Valeo

Growth Factors

 The COVID-19 pandemic has negatively impacted the demand for rear-view mirrors in 2020. The implementation of lockdowns and social distancing norms globally led to losses in the automotive industry. However, as governments begin to gradually relax lockdown norms and allow businesses to operate with mandates of social distancing, the market can expect a period of respite for the short term. Moreover, the increasing demand for luxury vehicles, coupled with the growing demand for enhanced comfort, is anticipated to drive market growth. Automotive OEMs are focused on integrating advanced safety features in rear-view mirrors to improve visibility and reduce accidents. The rapid rate of advancements in product features is anticipated to work in favor of market growth.

By Feature Type Analysis

The heating function segment accounted for the largest revenue share of over 50% in 2020 and is anticipated to maintain its dominance over the forecast period, particularly in North America and Europe, due to its extensive usage in cold weather. 

These features enhance the vehicle’s electrification and safety. The camera, which is integrated with the rear-view mirror, notifies the driver with a warning while parking or lane changing.

The blind-spot detection segment is projected to register the highest CAGR of over 6% in terms of revenue over the forecast period. This growth can be attributed to the continuous strengthening of vehicle safety standards and growing awareness among people about vehicle safety.

By Mounting Location Analysis

The door-mounted segment accounted for the largest revenue share of around 70.5% in 2020. Door-mounted mirrors are also known as side or wing mirrors and are largely used in luxury cars. The positioning allows the driver to adjust the mirror as per visibility. 

The body-mounted segment is projected to register a CAGR exceeding 3.5% from 2021 to 2030. Body-mounted mirrors are used in commercial vehicles where drivers need to keep a constant track of trailing vehicles.

By Product Type Analysis

The smart rear-view mirror segment accounted for the largest share of around 70.5% of the market in 2020. These products have an in-built camera and enable the driver to switch between a traditional rear-view mirror to an LCD monitor screen.

The conventional rear-view mirror segment is estimated to register a CAGR exceeding 2% from 2021 to 2030. The demand is increasing in commercial vehicles owing to their benefits, such as reduced blind spots and increased visibility. 

By Type Analysis

The exterior mirror segment accounted for the largest share of around 70.8% of the market in 2020. Exterior mirrors work as a replacement for side-view mirrors and offer help in lane changing and parking. Moreover, they also help avoid traffic accidents, driving fatigue, and traffic violations. 

 The interior mirror segment is estimated to register a CAGR exceeding 3.05% from 2021 to 2030. Auto-dimming interior rear-view mirrors are finding increased demand in a range of vehicles as they improve driving safety by eliminating glare.

By Vehicle Type Analysis

The passenger car segment accounted for the largest share of over 60.5% of the market in 2020. Passenger vehicles include all personal use transport vehicles, such as SUVs, luxury vehicles, and sedans, and are commonly designed to accommodate up to five individuals. 

Passenger cars occupied the majority share of over 71.5% of total vehicle production in 2020. In Europe, according to ACEA, vehicles per capita were recorded at 569 vehicles per 1,000 inhabitants in 2019. Besides, emerging economies such as China and India are expected to further escalate the market growth over the forecast period.

The commercial vehicle segment is projected to register a CAGR of over 4.6% over the forecast period. Commercial vehicles include Light Commercial Vehicles (LCVs) and Heavy Commercial Vehicles (HCVs).

By Regional Analysis

Asia Pacific accounted for the largest revenue share of over 50% in 2020 and is anticipated to maintain its dominance over the forecast period. The region is expected to register a CAGR exceeding 4% over the forecast period owing to the increasing production of vehicles in India, China, and Japan. 

Europe is expected to experience significant growth owing to the presence of prominent luxury car manufacturers such as AUDI, BMW, Porsche, and Volkswagen. The increased production volume in the region post the COVID-19 lockdown is expected to increase the demand for rear-view mirrors in the upcoming years.

Key Players 

  • Continental AG

  • Ficosa Internacional SA

  • Gentex Corporation

  • Ishizaki Honten Company Limited

  • Magna International Inc.

  • MITSUBA Corporation

  • Murakami Corporation

  • SL Corporation

  • Tokairica Co, Ltd.

  • Valeo

Market Segmentation

  • By Feature Type

    • Auto-dimming

    • Blind Spot Detection

    • Power Control

    • Automatic Folding

    • Heating Function

    • Others

  • By Mounting Location

    • Door Mounted

    • Body Mounted

  • By Product Type

    • Smart Rear-view Mirror

    • Conventional Rear-view Mirror

  • By Type

    • Exterior Mirror

    • Interior Mirror

  • By Vehicle Type

    • Passenger Car

    • Commercial Vehicles

  • Regional

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

    • Asia Pacific

      • China

      • Japan

      • India

    • Latin America

      • Brazil

      • Mexico

    • Middle East and Africa

The Rear-view Mirror market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Rear-view Mirror market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Rear-view Mirror market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Rear-view Mirror market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Rear-view Mirror market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Rear-view Mirror capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Rear-view Mirror by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Rear-view Mirror market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Rear-view Mirror market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Rear-view Mirror market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Rear-view Mirror industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Rear-view Mirror market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Rear-view Mirror market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Rear-view Mirror market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Rear-view Mirror market. These factors have benefited the growth of the global market for Rear-view Mirror. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Rear-view Mirror. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Rear-view Mirror are as follows:

  • History Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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