Market Overview:
The global electric outside rear view mirror market is estimated to be valued at US$ 2,362.8 Mn in 2018 and is projected to register a CAGR of 7.5% over the forecast period (2018-2030), according to a new study by Transparency Market Research (TMR). The foldable electric outside rear view mirror segment is expected to account for a significant share of the global market in terms of revenue, owing to its growing demand from passenger vehicles. In terms of volume, the heatable electric outside rear view mirror segment is anticipated to lead the market during the forecast period. The increasing demand for luxury cars and SUVs across regions has led automotive OEMs towards offering advanced features such as memory storage electric outside rear view mirrors and foldable electric outside rearview mirrors in their vehicles. Additionally, rising concerns over safety are also propelling demand for these mirrors among consumers globally. Heatable Electric Outside Rear View Mirrors help reduce fogging on glass surfaces during extreme weather conditions or while driving through rain or snow thereby providing better visibility for drivers.
Product Definition:
Electric outside rear view mirror is a mirror that uses an electric motor to adjust the position of the mirror. This is important because it allows the driver to see what is happening behind them without having to move their head.
Memory Storage Electric Rearview Mirror:
The memory storage electric rearview mirror is an electronic device that recalls the last image seen in the rear view mirror. It is a substitute to conventional back-up mirrors which are fixed at the front of vehicles. The market for this product is expected to witness significant growth over the forecast period owing to increasing demand for enhanced safety and convenience features in automobiles, especially in developing countries such as India and China.
Foldable Electric Rearview Mirror:
The foldable electric rearview mirror is a new product in the market and it has gained popularity among car owners. It is an add-on device that can be attached to the existing rear view mirror of vehicles. The primary function of this device is to provide a clear image of the road behind while driving without compromising with vehicle's original design and functioning. This device helps in providing enhanced visibility, safety, comfort, and convenience as compared to traditional mirrors.
Application Insights:
The passenger vehicle application segment accounted for the largest share of over 70.0% in 2017. The growing adoption of electric vehicles, particularly in developed regions, is expected to drive the demand for outside rear view mirrors. For instance, as per a 2016 study by LMC Automotive, around 40% of all luxury cars sold have an electric mirror function as standard equipment. Furthermore, governments across various countries are taking initiatives to promote the usage of these vehicles by offering subsidies and tax credits to their citizens who purchase such EVs.
In addition to this, increasing awareness regarding road safety among consumers is driving manufacturers towards developing innovative products with enhanced features and functions that can help drivers spot obstacles at a greater distance.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to witness a CAGR of XX% during the forecast period. This growth can be attributed to increasing road accidents and presence of key players in the region. In addition, rising adoption of advanced technologies such as infotainment system and navigation system is also driving demand for electric outside rear view mirror in this region. Europe accounted for more than 25% share of global revenue in 2017 owing to high demand from passenger vehicle application segment due to presence prominent luxury car manufacturers such as AUDI, BMW, Mercedes Benz etc.
Growth Factors:
- Increasing demand for electric vehicles
- Government initiatives and subsidies for electric vehicles
- Rising awareness about the benefits of electric vehicles
- Technological advancements in electric vehicle mirror systems
- Growing demand from emerging markets
Scope Of The Report
Report Attributes
Report Details
Report Title
Electric Outside Rear View Mirror Market Research Report
By Type
Memory Storage Electric Rearview Mirror, Foldable Electric Rearview Mirror, Heatable Electric Rearview Mirror
By Application
Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle
By Companies
Ficosa International SA, Magna International Inc, Ichikoh Industries, Samvardhana Motherson Group, Murakami Corporation, Mitsuba Corp, Prakant Electronics, Motherson Sumi Systems Limited, Gentex, MEKRA Lang, SL Corporation, Flabeg, Shanghai Lvxiang
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
183
Number of Tables & Figures
129
Customization Available
Yes, the report can be customized as per your need.
Global Electric Outside Rear View Mirror Market Report Segments:
The global Electric Outside Rear View Mirror market is segmented on the basis of:
Types
Memory Storage Electric Rearview Mirror, Foldable Electric Rearview Mirror, Heatable Electric Rearview Mirror
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Ficosa International SA
- Magna International Inc
- Ichikoh Industries
- Samvardhana Motherson Group
- Murakami Corporation
- Mitsuba Corp
- Prakant Electronics
- Motherson Sumi Systems Limited
- Gentex
- MEKRA Lang
- SL Corporation
- Flabeg
- Shanghai Lvxiang
Highlights of The Electric Outside Rear View Mirror Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Memory Storage Electric Rearview Mirror
- Foldable Electric Rearview Mirror
- Heatable Electric Rearview Mirror
- By Application:
- Passenger Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Electric Outside Rear View Mirror Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
An electric outside rear view mirror is a device that attaches to the back of your car, and uses electricity to project a image onto the inside of your windshield. This allows you to see behind you without having to turn around and look through the driver's side window.
Some of the major companies in the electric outside rear view mirror market are Ficosa International SA, Magna International Inc, Ichikoh Industries, Samvardhana Motherson Group, Murakami Corporation, Mitsuba Corp, Prakant Electronics, Motherson Sumi Systems Limited, Gentex, MEKRA Lang, SL Corporation, Flabeg, Shanghai Lvxiang.
The electric outside rear view mirror market is expected to register a CAGR of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Electric Outside Rear View Mirror Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Electric Outside Rear View Mirror Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Electric Outside Rear View Mirror Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Electric Outside Rear View Mirror Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Electric Outside Rear View Mirror Market Size & Forecast, 2020-2028
4.5.1 Electric Outside Rear View Mirror Market Size and Y-o-Y Growth
4.5.2 Electric Outside Rear View Mirror Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Memory Storage Electric Rearview Mirror
5.2.2 Foldable Electric Rearview Mirror
5.2.3 Heatable Electric Rearview Mirror
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Passenger Vehicle
6.2.2 Light Commercial Vehicle
6.2.3 Heavy Commercial Vehicle
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Electric Outside Rear View Mirror Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Electric Outside Rear View Mirror Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Memory Storage Electric Rearview Mirror
9.6.2 Foldable Electric Rearview Mirror
9.6.3 Heatable Electric Rearview Mirror
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Passenger Vehicle
9.10.2 Light Commercial Vehicle
9.10.3 Heavy Commercial Vehicle
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Memory Storage Electric Rearview Mirror
10.6.2 Foldable Electric Rearview Mirror
10.6.3 Heatable Electric Rearview Mirror
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Passenger Vehicle
10.10.2 Light Commercial Vehicle
10.10.3 Heavy Commercial Vehicle
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Memory Storage Electric Rearview Mirror
11.6.2 Foldable Electric Rearview Mirror
11.6.3 Heatable Electric Rearview Mirror
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Passenger Vehicle
11.10.2 Light Commercial Vehicle
11.10.3 Heavy Commercial Vehicle
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Memory Storage Electric Rearview Mirror
12.6.2 Foldable Electric Rearview Mirror
12.6.3 Heatable Electric Rearview Mirror
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Passenger Vehicle
12.10.2 Light Commercial Vehicle
12.10.3 Heavy Commercial Vehicle
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Memory Storage Electric Rearview Mirror
13.6.2 Foldable Electric Rearview Mirror
13.6.3 Heatable Electric Rearview Mirror
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Passenger Vehicle
13.10.2 Light Commercial Vehicle
13.10.3 Heavy Commercial Vehicle
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Electric Outside Rear View Mirror Market: Competitive Dashboard
14.2 Global Electric Outside Rear View Mirror Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Ficosa International SA
14.3.2 Magna International Inc
14.3.3 Ichikoh Industries
14.3.4 Samvardhana Motherson Group
14.3.5 Murakami Corporation
14.3.6 Mitsuba Corp
14.3.7 Prakant Electronics
14.3.8 Motherson Sumi Systems Limited
14.3.9 Gentex
14.3.10 MEKRA Lang
14.3.11 SL Corporation
14.3.12 Flabeg
14.3.13 Shanghai Lvxiang
