Major players in the rear-view mirror market are Continental AG, FLABEG Holding GmbH, Gentex Corporation, Magna International Inc. , Ishizaki Honten Company Limited, MITSUBA Corporation, Ficosa Internacional SA, SL Corporation, Samvardhana Motherson Group, Valeo, Ichikoh Industries Ltd, Burco Inc.
New York, Sept. 07, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Rear-View Mirror Global Market Report 2022" - https://www.reportlinker.com/p06318581/?utm_source=GNW
, Sichuan Skay view, Honda Lock Mfg. Co. Ltd, Tokairica Co Ltd.
The global rear-view mirror market is expected to grow from $7.51 billion in 2021 to $8.16 billion in 2022 at a compound annual growth rate (CAGR) of 8.6%. The rear-view mirror market is expected to grow to $10.16 billion in 2026 at a CAGR of 5.6%.
The rear-view mirror market consists of sales of rear-view mirrors by entities (organizations, sole traders, and partnerships) that are used by drivers to ensure safety on the roads.A rear-view mirror is a small, angled mirror and is one of the most important active safety features in a car.
It allows the driver to see behind the car by using the backlight of the car.
The main types of products in rear-view mirrors are smart rear-view mirrors and conventional rear-view mirrors.The "smart rear-view mirror" refers to the intelligent rear-view mirror, which combines a high-resolution camera that can check the traffic conditions behind the vehicle and a rear-view mirror with a built-in LCD monitor that displays images from the camera.
A smart rear-view can function both as a camera that records the field of view from the rear of the vehicle and as a standard rear-view mirror.The various mounting locations include door-mounted and body-mounted, which are used in passenger vehicles, light commercial vehicles (LCV), and heavy commercial vehicles (HCV).
The different types of mirrors are exterior mirrors and interior mirrors. The different features include auto-dimming, blind spot detection, power control, automatic foldable, heated, and others.
Asia-Pacific was the largest region in the rear-view mirror market in 2021. The regions covered in the rear-view mirror market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The rear-view mirror market research report is one of a series of new reports that provides rear-view mirror market statistics, including global market size, regional shares, competitors with a rear-view mirror market share, detailed rear-view mirror market segments, market trends and opportunities, and any further data you may need to thrive in the rear-view mirror industry. This rear-view mirror market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The increase in the number of vehicles is expected to propel the growth of the rear-view mirror market.Vehicles refer to transportation machines with an engine, such as automobiles, trucks, and buses, for transporting a person or goods.
Rear view mirrors are used to ensure safety for the vehicle and passengers.As a result, increasing demand for vehicles also increases the demand for rear-view mirrors.
For instance, according to the India Brand Equity Foundation, an India-based government export promotion agency, in 2021, in India, the total passenger vehicle production increased to 22.65 million vehicles. Further, passenger vehicles and two-wheelers dominated the auto market accounting for 14.56% and 81.21% respectively. Therefore, the increase in the number of vehicles is driving the rear-view mirror market.
Technological advancements have emerged as a key trend gaining popularity in the rear-view mirror market.Major companies operating in the rear-view mirror market are focused on developing new technologies to meet consumer demand and reinforce their position.
For instance, in August 2020, Panasonic Corporation, a Japan-based conglomerate company, partnered with Nissan Motor Corporation, a Japan-based company manufacturing rear-view mirrors, to develop a high-performance electronic mirror based on image processing technology.The mirror has a significant image definition improvement for better visibility at night and to control a flickering phenomenon brought on by vehicles behind’s LED lamps.
It also features a 2-megapixel camera and a high-resolution display, ensuring superior image definition and night-time visibility.
In March 2019, Ficosa International SA, a Spain-based company that is involved in the research, development, and production of systems and parts such as rearview mirrors for the automotive industry, have agreed on making a strategic investment through a partnership with Panasonic to develop the smart rear-view mirror with electronic toll collection. The ETC 2.0 interior rearview mirror, including an improved integrator for automatic payment of highway tolls, will improve to prevent the device from obstructing the driver’s view and making it difficult to see a fully inserted card from the outside as the card slot located on the side of the rearview mirror. Panasonic is a Japan-based manufacturer of electric appliances and consumer electronics products.
The countries covered in the rear-view mirror market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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