The automotive rear view mirror market has been forecast to increase at a compound annual growth rate (CAGR) of 7.59% through to 2016, driven by the growing automotive components market, and the increasing demand for auto-dimming rear view mirrors.
The increasing demand for auto-dimming rear view mirrors is one of the major trends in the automotive rear view mirror market. Auto-dimming mirrors, which are also known as electro chromic mirrors, basically help in minimising the bright glare of light coming from vehicles in the rear.
These mirrors consist of a gel that darkens when a small charge of electricity is applied and reduces headlamp glare from following traffic, which helps in preventing uncomfortable driving conditions.
According to a recent report, 'Global Automotive Rear View Mirrors Market 2012-2016,' the global auto-dimming mirror market is expected to be worth more than US$3 billion by 2016, and the auto-dimming Mirror market in the APAC region is expected to grow at a CAGR of more than 20% through to 2016.
A rear-view mirror is a mirror in automobiles and other vehicles, designed to allow the driver to see rearward through the vehicle's backlight (rear windshield or windscreen).
In cars, the rear-view mirror is usually affixed 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 harmlessly out of the way if impacted by a vehicle occupant in a collision.
One of the major challenges currently facing the market is the increasing average selling price; this adversely affects manufacturers' financial status and reduces investment in R&D.
Key players currently dominating the automotive rear view mirror market include Magna International Inc., Samvardhana Motherson Group, Ficosa International S.A, and Murakami Corp.
For more information on the automotive rear view mirror market, see the latest research: Automotive Market Research
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