The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Strong Growth Trajectory of the Rear-View Mirror Market

• Market Expansion Overview: Witnessed substantial growth, rising from $8.85 billion in 2023 to $9.39 billion in 2024, boasting a CAGR of 6.1%.
• Historical Drivers: Early automotive safety concerns, increased traffic density, regulatory requirements, advancements in mirror materials, and automotive design evolution propelled market growth.
• Projected Growth: Anticipated to reach $12 billion by 2028, driven by expansion in emerging automotive markets, focus on vehicle safety, enhanced connectivity features, and adoption of smart mirror technologies.

Increasing Vehicle Ownership Fuels Market Demand

• Vehicle Growth Trends: The surge in vehicle ownership contributes significantly to the demand for rear-view mirrors, ensuring safety for drivers and passengers alike.
• Global Production Statistics: Growing vehicle production, with global motor vehicle production reaching 85.4 million units in 2022, as reported by the European Automobile Manufacturers’ Association.
• Regional Insights: North America’s light vehicle production projected to increase to 15.4 million units in 2023, driven by supply chain improvements, further boosting rear-view mirror market demand.

Technological Advancements Transforming the Rear-View Mirror Landscape

• Trend Overview: Technological advancements play a pivotal role in reshaping the rear-view mirror market, with companies focusing on innovative solutions to meet consumer demands.
• Collaborative Initiatives: Seeing Machines Ltd. collaborates with Magna to integrate Driver Monitoring System (DMS) technology into rear-view mirrors, enhancing safety features.
• Strategic Acquisitions: SamvardhanaMotherson Automotive Systems Group BV acquires Ichikoh Industries’ mirror business, expanding its presence in Japan and strengthening customer service capabilities.

Segmentation of the Rear-View Mirror Market

• Product Types: Smart rear-view mirrors and conventional rear-view mirrors cater to diverse consumer preferences and technological requirements.
• Mounting Locations: Rear-view mirrors can be door-mounted or body-mounted, offering flexibility in installation.
• Mirror Types: Exterior and interior mirrors serve distinct functions in vehicles, contributing to overall safety and convenience.
• Vehicle Types: Passenger vehicles, light commercial vehicles (LCVs), and heavy commercial vehicles (HCVs) have varying rear-view mirror needs.
• Features: Auto dimming, blind spot detection, power control, automatic foldable, heated mirrors, and other features enhance driver visibility and safety.

Regional Dynamics: Asia-Pacific Leads the Way

• Asia-Pacific Dominance: Asia-Pacific emerges as the largest region in the rear-view mirror market in 2023, driven by robust automotive industry growth and technological advancements.

Get A Free Sample On The Global Rear-View Mirror Market Report:
https://www.thebusinessresearchcompany.com/sample_request?id=6865&type=smp

Read The Full Rear-View Mirror Market Report Here:

https://www.thebusinessresearchcompany.com/report/rear-view-mirror-global-market-report

The Rear-View Mirror Global Market Report 2024 provides an overviewof the rear-view mirror market for the time series: historic years (2010 -2021) and ten years forecast (2023 – 2032).The rear-view mirror market forecast analyzesrear-view mirrormarket size, rear-view mirror market share,leading competitor and their market positions.

Explore Similar Reports From The Business Research Company:

Extreme Ultraviolet Lithography Global Market Report 2024
Auto-Dimming Mirror Global Market Report 2024

Smart Mirror Global Market Report 2024

Learn More About The Business Research Company
The Business Research Company has published over 6500+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Contact us at:
The Business Research Company:https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at info@tbrc.info

Follow us on:

LinkedIn:https://in.linkedin.com/company/the-business-research-company
YouTube:https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model:https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on: