Tuesday, 13 June 2017

Automotive Mirror System Market - Opportunities, Regional Outlook, Competitive Insight And Market Overview

A rear-view mirror is a looking glass in automobiles and other vehicles which are designed to let the driver see the rear of the vehicle through the automobile's rear window or rear windshield. In cars, the mirror is generally affixed to the uppermost portion of the windshield usually on a double-swivel mount, thereby allowing it to be attuned to suit the viewing angle and height of the driver and to swing innocuously for easy viewing so as to avoid collision. The rear-view mirror is accompanied by one or multiple side-view mirrors that aid in rear-vision on cars, bicycles, and motorcycles. However, in trucks and buses, the load often blocks rearward vision. To avoid collisions, in the U.S. almost all buses and trucks have side view mirrors on both sides, mounted on the doors and watched from the side windows. These side view mirrors serve the purpose of rearward vision in these vehicles. Nonetheless, these mirrors leave a large blind area (unviewablea area) behind the vehicle, which decreases as the distance increases. There is another type of mirror known as spot mirrors which are a convex mirror which offers a distorted image of the side of the vehicle. These mirrors are usually mounted on the right side of a vehicle. In the U.S., mirrors are not included in width restrictions as they are considered as “safety equipment.”

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Rising focus on improving the safety features in mid-size and compact cars is one of the crucial drivers for the growth of the automotive mirror system market. In countries such as the U.S, the NHTSA or National Highway Traffic Safety Administration has made it compulsory to use safety features such as rear-view cameras in vehicles, by 2018. Moreover, consumer awareness is leading to enhancements in the structure of the mirrors in mid-size and compact cars. For example, dimming mirrors were only available in the premium segment. However, they are now being equipped on the affordable segment vehicles as well. Moreover, in regions such as APAC, maximum number of top-selling cars use the day and night mirror, thereby propelling the automotive mirror system market over the forecast period.

Another trend prevailing in the global automotive mirror system market is the increasing replacement of traditional mirrors by the auto-dimming mirrors. The increasing need for innovative safety technologies has resulted in the rising popularity of auto-dimming mirrors. Although this technology is primarily installed in high-end automobiles and aircrafts, the increasing focus of customers on safety and convenience has resulted in the regulation of technology, thereby helping its application in the mid- and entry-level vehicles as well. Furthermore, the auto dimming mirrors offer additional benefits such as the inhibition of the blinding effect produced by the glare of headlights, thereby preventing accidents and collisions. Owing to these advantages, the lower models of cars are likely to be fitted with auto dimming mirrors during the forecast period, thereby augmenting the growth of the global automotive mirror system market.

The global automotive mirror system market can be segmented by position of the mirror, vehicle type, and geography. In terms of position of the mirror, the market can be segregated into interior automotive mirror system, and exterior automotive mirror system. The interior automotive mirror system market held a prominent share in the global automotive mirror system market and is likely to grow significantly during the forecast period. The increasing demand for IRVMs or inside rear-view mirrors and vanity mirrors is anticipated to fuel the growth of the market in the coming years. By vehicle type, the global automotive mirror system market can be divided into passenger vehicles and commercial vehicles.

In terms of geography, the global automotive mirror system market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific region accounted for the maximum share of the global automotive mirror system market. Increase in sales of passenger cars, the growing focus on safety features, increase in the number of government regulations, and low usage of vanity mirrors, especially in the passenger car segment are expected to boost the demand for automotive mirror systems in this region.

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Key players operating in the global automotive mirror system market are Gentax Corporation, Ficosa International, Magna International, Flabeg Automotive Holding, Samvardhana Motherson Group, Murakami Corporation, and Milenco.

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