Rear-View Mirror Market Size 2027: Projected Growth and Opportunities | Techsci Research

The device that allows drivers to view what is happening behind them is known as a rear-view mirror. It is typically positioned atop the windshield inside the cabin and is one of the most fundamental and critical safety features in an automobile. The rear-view mirror assists the driver in passing slower vehicles, reversing into parking spaces, and other maneuvers. Most vehicles have a pair of mirrors affixed to the exterior of the body, commonly known as "side mirrors" or Outer Rear-View Mirrors (ORVM), which serve the same purpose as the rear-view mirror.

A swivel joint, secured by an anchor, is used to attach the rear-view mirror to the windshield and enables the driver to adjust the mirror to their seating position. Convex lenses are now commonly utilized in the manufacture of mirrors, resulting in a significant increase in their ability to capture images from a greater distance.

However, objects in the rear-view mirror appear to be closer than they are due to the use of convex lenses, which produce smaller images of the objects. As a result, a warning message, "objects in the rear-view mirror are closer than they appear," is printed on the mirror by manufacturers to alert drivers and prevent accidents. This cautionary statement is prominently displayed in the rear-view mirrors of cars.

The global rear-view mirror market is expected to grow at a significant rate during the forecast period. The market growth can be attributed to the rising vehicle sales & production and growing awareness for vehicle safety among consumers. Besides, OEMs are focusing on integrating different safety features in the automotive mirror, which is propelling the growth of the global rear-view mirror market. Growing demand for increased safety, comfort, and convenience in automobiles as well as rising concerns related to passenger and driver protection against accidents are anticipated to favor product adoption. Moreover, changes in vehicle design and introduction of oversized back headrests for vehicles are anticipated to contribute to the rising demand for advanced mirrors for greater visibility, which is expected to encourage the growth of the global rear-view mirror market. Growing awareness about shared connectivity and mobility and rising demand for autonomous vehicles are projected to aid the market growth.

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The global rear-view mirror market is segmented on the basis of vehicle type, product type, feature, company, and geography. Based on the vehicle type, the global rear-view mirror market can be sub-divided into passenger vehicles and commercial vehicles. The passenger car segment is expected to hold the largest share in the global rear-view mirror market owing to increasing vehicle fleet and vehicle per capita globally. Based on the product type, the market is divided into exterior mirror and interior mirror. The exterior mirror segment is projected to account for the highest share in the market during the forecast period. Increasing application of exterior mirrors in heavy trucks and increasing sales of high-end premium vehicles are adding to the dominance of the segment in the global rear-view mirror market.

Some of the major key players operating in Rear-View Mirror are Mitsuba Corporation, Honda Lock Mfg. Co., Ltd., Ficosa International SA, Samvardhana Motherson Reflectec, SL Corporation, Ishizaki Honten Company Limited, Ichikoh Industries, Ltd., Magna International, Inc., Continental AG etc.

Objective of the Study:

• To assess the demand-supply scenario of rear-view mirror which covers production, demand and supply of rear-view mirror market globally.
• To analyze and forecast the market size of rear-view mirror in terms of volume and value.
• To classify and forecast global rear-view mirror based on vehicle type, product type, feature and regional distribution.
• To identify drivers and challenges for global rear-view mirror market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global rear-view mirror
• To identify and analyze the profile of leading players involved in the manufacturing of global rear-view mirror.

To perform the study, TechSci Research conducted primary as well as exhaustive secondary research. Initially, TechSci Research prepared an exhaustive list of Rear-View Mirror manufacturers operating globally. Subsequently, TechSci Research conducted primary research surveys, which include primary calls, email responses, etc., with the identified companies. While interviewing, the respondents were also asked about their major competitors. Through this technique, TechSci Research could include manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analysed product offerings and regional presence of all major Rear-View Mirror supplier across the globe.

TechSci Research calculated the market size for Global Rear-View Mirror using a bottom-up technique, wherein manufacturers’ volume sales data for different applications, were recorded as well as forecast for the future years. TechSci Research sourced these values from industry experts and company representatives, and externally validated through analysing historical sales data of respective manufacturer to arrive at the overall market size. Multiple secondary sources such as directories, Company Websites, company annual reports, white papers, investor presentations and financial reports were also used by TechSci Research.

Key Target Audience:

• Automotive Rear-View Mirror manufacturers
• Automotive OEMs
• Rear-View Mirror component suppliers
• Raw material suppliers
• Research Institutes
• Associations, organizations, forums and alliances related to Automotive Rear-View Mirror.
• Industry associations
• Market research and consulting firm.

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Rear-View Mirror manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.

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About TechSci Research:

TechSci Research is a research-based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research’s core values are value, integrity and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, TechSci’s client leads rather than follow market trends. Not bound by legacy, TechSci’s cutting-edge research model leverages its decades of research knowledge and an increased use of technology as engines of innovation to deliver unique research value. Provided as an alternative to traditional market research, TechSci Research reports do not just deliver data and knowledge rather highlights the insights in a more usable and interactive format for its clients.

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