Market Overview:
The global light vehicle mirror market is estimated to be valued at US$ XX Mn in 2018 and is projected to reach US$ XX Mn by 2030, exhibiting a CAGR of X.X%. The growth of the global light vehicle mirror market can be attributed to the increasing demand for SUVs and sedans across the globe. Additionally, rising awareness about safety features in vehicles is also expected to fuel the growth of the global light vehicle mirror market during the forecast period. On basis of type, internal mirrors are expected to account for a larger share of the global light vehicle mirror market during 2018-2030. Internal mirrors are installed inside a car and offer better visibility while driving as compared to external mirrors. On basis of application, sedans are anticipated to account for a larger share of the global light vehicle mirror market during 2018-2030. This can be attributed to increasing demand for luxury cars across different regions globally.
Product Definition:
A light vehicle mirror is a mirror that is typically found on the front or side of a light vehicle, such as a car or truck. Light Vehicle Mirrors are important because they allow the driver to see around the vehicle and improve visibility while driving.
Internal Mirror:
An internal mirror is a type of rearview mirror that can be mounted on the windshield. It provides a better view of the road behind compared to an external one as it has no blind spots. Internal mirrors are usually attached to the existing rearview or side-view mirrors of vehicles using suction cups, magnets, or adhesive tape. They are built into models with convex glass and concave glass types used for enhancing visibility in cars having limited parking space.
External Mirror:
An external mirror is a type of vehicle safety device that reflects the light from a headlamp to the driver. It is mounted on the side of vehicles and can be adjusted in height, width, and position. The external mirror helps to provide better visibility by providing an extended view as compared to a conventional rearview mirror.
The global Light Vehicle Mirror market size was valued at USD 1,22,867 thousand in 2016.
Application Insights:
The others application segment includes buses, trucks and other vehicles. The increasing number of fatal accidents involving lorries and other heavy vehicles is expected to result in a rise in the demand for vehicle mirrors, thereby supporting the global market growth over the forecast period.
Sedans accounted for a major share of over 40% in 2017 owing to growing sales of sedans from OEMs such as Toyota Motor Corporation, Honda Motor Co., Ltd., Nissan Motors Ltd., BMW AG, Mercedes-Benz among others. Moreover, rising demand for high safety features including integrated LED lighting and advanced technology is anticipated to drive the product demand further.
Regional Analysis:
North America dominated the global light vehicle mirror market in 2017. The U.S., being a developed economy, has more consumers opting for advanced safety features in their vehicles, thereby driving the demand for external and internal vehicle mirrors across the region. Europe is expected to be one of the significant regional markets over the forecast period owing to stringent government regulations regarding road safety that have driven manufacturers to incorporate these mirrors as standard equipment on all new cars since 2012.
Asia Pacific is anticipated to witness substantial growth over the next eight years owing to increasing sales of light commercial vehicles (LCVs) and passenger cars among other segments in developing countries such as India and China respectively, thus propelling product demand across this region.
Growth Factors:
- Increasing demand for lightweight vehicles: The global market for lightweight vehicles is expected to grow at a CAGR of more than 7% during the forecast period. This is mainly due to the increasing demand for fuel-efficient and environment-friendly vehicles. Lightweight mirrors can help reduce the weight of a vehicle, which in turn improves its fuel efficiency and performance.
- Growing popularity of luxury cars: The global luxury car market is growing at a rapid pace and is expected to reach a value of more than USD 1 trillion by 2020. This growth can be attributed to the rising disposable income levels, changing lifestyles, and increasing demand from emerging markets such as China and India. Luxury carmakers are increasingly focusing on offering advanced features such as autonomous driving, gesture control, etc., which require high-quality mirrors that meet stringent safety standards.
- Proliferation of advanced driver assistance systems (ADAS): ADAS are systems that assist drivers in performing certain tasks such as lane keeping, collision avoidance, adaptive cruise control, etc., thereby improving safety while driving. These systems rely heavily on high-quality mirrors with superior visibility and performance characteristics in order to function effectively . As ADAS become more popular among consumers worldwide , the demand for better quality mirrors will also increase .
Scope Of The Report
Report Attributes
Report Details
Report Title
Light Vehicle Mirror Market Research Report
By Type
Internal Mirror, External Mirror
By Application
Sedans, SUVs, Others
By Companies
Ficosa International, Gentex Corporation, Magna International, Murakami Kaimeido, Samvardhana Motherson Group, Continental, Ichikoh, Mitsuba, Tokai Rika, Mobvoi, SL Corporation, Honda Lock, Ishizaki Honten, Flabeg Automotive
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
244
Number of Tables & Figures
171
Customization Available
Yes, the report can be customized as per your need.
Global Light Vehicle Mirror Market Report Segments:
The global Light Vehicle Mirror market is segmented on the basis of:
Types
Internal Mirror, External 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
Sedans, SUVs, Others
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
- Gentex Corporation
- Magna International
- Murakami Kaimeido
- Samvardhana Motherson Group
- Continental
- Ichikoh
- Mitsuba
- Tokai Rika
- Mobvoi
- SL Corporation
- Honda Lock
- Ishizaki Honten
- Flabeg Automotive
Highlights of The Light Vehicle 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:
- Internal Mirror
- External Mirror
- By Application:
- Sedans
- SUVs
- Others
- 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 Light Vehicle 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.
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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?
A mirror that is mounted on the front of a vehicle to allow drivers to see behind them.
Some of the major companies in the light vehicle mirror market are Ficosa International, Gentex Corporation, Magna International, Murakami Kaimeido, Samvardhana Motherson Group, Continental, Ichikoh, Mitsuba, Tokai Rika, Mobvoi, SL Corporation, Honda Lock, Ishizaki Honten, Flabeg Automotive.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Light Vehicle Mirror Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Light Vehicle Mirror Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Light Vehicle Mirror Market - Supply Chain
4.5. Global Light Vehicle Mirror Market Forecast
4.5.1. Light Vehicle Mirror Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Light Vehicle Mirror Market Size (000 Units) and Y-o-Y Growth
4.5.3. Light Vehicle Mirror Market Absolute $ Opportunity
5. Global Light Vehicle Mirror Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Light Vehicle Mirror Market Size and Volume Forecast by Type
5.3.1. Internal Mirror
5.3.2. External Mirror
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Light Vehicle Mirror Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Light Vehicle Mirror Market Size and Volume Forecast by Application
6.3.1. Sedans
6.3.2. SUVs
6.3.3. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Light Vehicle Mirror Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Light Vehicle Mirror Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Light Vehicle Mirror Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Light Vehicle Mirror Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Light Vehicle Mirror Demand Share Forecast, 2019-2026
9. North America Light Vehicle Mirror Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Light Vehicle Mirror Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Light Vehicle Mirror Market Size and Volume Forecast by Application
9.4.1. Sedans
9.4.2. SUVs
9.4.3. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Light Vehicle Mirror Market Size and Volume Forecast by Type
9.7.1. Internal Mirror
9.7.2. External Mirror
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Light Vehicle Mirror Demand Share Forecast, 2019-2026
10. Latin America Light Vehicle Mirror Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Light Vehicle Mirror Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Light Vehicle Mirror Market Size and Volume Forecast by Application
10.4.1. Sedans
10.4.2. SUVs
10.4.3. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Light Vehicle Mirror Market Size and Volume Forecast by Type
10.7.1. Internal Mirror
10.7.2. External Mirror
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Light Vehicle Mirror Demand Share Forecast, 2019-2026
11. Europe Light Vehicle Mirror Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Light Vehicle Mirror Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Light Vehicle Mirror Market Size and Volume Forecast by Application
11.4.1. Sedans
11.4.2. SUVs
11.4.3. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Light Vehicle Mirror Market Size and Volume Forecast by Type
11.7.1. Internal Mirror
11.7.2. External Mirror
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Light Vehicle Mirror Demand Share, 2019-2026
12. Asia Pacific Light Vehicle Mirror Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Light Vehicle Mirror Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Light Vehicle Mirror Market Size and Volume Forecast by Application
12.4.1. Sedans
12.4.2. SUVs
12.4.3. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Light Vehicle Mirror Market Size and Volume Forecast by Type
12.7.1. Internal Mirror
12.7.2. External Mirror
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Light Vehicle Mirror Demand Share, 2019-2026
13. Middle East & Africa Light Vehicle Mirror Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Light Vehicle Mirror Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Light Vehicle Mirror Market Size and Volume Forecast by Application
13.4.1. Sedans
13.4.2. SUVs
13.4.3. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Light Vehicle Mirror Market Size and Volume Forecast by Type
13.7.1. Internal Mirror
13.7.2. External Mirror
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Light Vehicle Mirror Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Light Vehicle Mirror Market: Market Share Analysis
14.2. Light Vehicle Mirror Distributors and Customers
14.3. Light Vehicle Mirror Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Ficosa International
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Gentex Corporation
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Magna International
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Murakami Kaimeido
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Samvardhana Motherson Group
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Continental
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Ichikoh
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Mitsuba
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Tokai Rika
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Mobvoi
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. SL Corporation
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Honda Lock
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Ishizaki Honten
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Flabeg Automotive
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook