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Automotive Mirror Dimming Market | Solutions, Services

Posted by mrfrblog on July 16th, 2020

Market Highlights

The safety of vehicles as well as the passengers have become one of the major purchasing factors for vehicle buyers over the years due to the rising number of deaths. To curb down the prevalence of such road accidents, the original equipment manufacturers (OEM) are seen implementing and integrating various safety features in automotive mirrors. This is, in turn, driving the global Automotive Mirror Dimming Market . Every year, a striking number of road traffic deaths occur and imperative actions to reduce the same is of utmost importance.

The automotive mirror dimming offers both safety and comfort to the drivers and passengers, as there is no need to adjust the inside and the outside rear-view mirror of the vehicle. The mirrors can automatically control its movement at various speeds when the system is turned on. The global market of automotive mirror dimming is expected grow positively in the coming years due to the rising demand for luxury features in vehicles, growing advancements in different technologies, and a massive increase in the production of vehicles.

The global Automotive Mirror Dimming Market was analyzed by Market Research Future (MRFR) and it was projected that a notable CAGR will be attained by the market over the forecast period of 2017 to 2023.

However, the increasing cost of such vehicles with such a feature being installed is likely to push down the global market growth over the forecast period. Nonetheless, the global market is primed to experience massive demand in the forthcoming years as per MRFR.

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Market Segmentation

The global Automotive Mirror Dimming Market has been segmented in terms of functionalities, vehicle types, applications, and fuel types.

By fuel types, the market segments into hybrid vehicle, battery electric vehicle (BEV), and internal combustion engine (ICE). The battery electric vehicle (BEV) segment is projected to grow during the forecast period with the highest share percentage. This is due to the increasing production of new electric vehicles (EVs) around the world.

By application, the market includes outside rear-view mirror (ORVM) and inside rear-view mirror (IRVM). The inside rear-view mirror (IRVM) segment is slated to hold a majority of the global Automotive Mirror Dimming Market share to lead the standings. This is due to its expanding number of applications in all types of vehicles.

By functionalities, the market divides into non-connected and connected. The connected segment stands out as it offers both safety and convenience to the drivers while they are driving.

By vehicle type, the market breaks down into commercial and passenger vehicle. The passenger vehicle segment leads the global Automotive Mirror Dimming Market with the maximum share to its name. The segment is expected to continue leading in the coming years due to the surging sales volume of passenger vehicles.

Regional Analysis

The global Automotive Mirror Dimming Market is geographically distributed across the following key regions: Asia Pacific, North America, Europe, and the Rest of the World (RoW). Asia Pacific is primed to lead the global Automotive Mirror Dimming Market and enjoy a majority of the share percentage. This is due to the development of automotive manufacturing sectors across developing nations like China and India.

Competitive Landscape

The global Automotive Mirror Dimming Market comprises a host of key players. This includes names like Magna International Inc. (Canada), Murakami Corporation (Japan), Gentex Corporation (U.S), Ficosa International S.A. (Spain), Global Media Industry Group Co. (China), Samvardhana Motherson Group (India), FLABEG Automotive Holding GmbH (Germany), Ichikoh Industries, Ltd. (Japan), Konview Electronics Corporation Limited. (China), SL Corporation (South Korea), TOKAIRIKA, CO, LTD. (Japan), Honda Lock Mfg. Co., Ltd. (Japan), and others.

February 2019, the 25th Pace Awards saw Gentex being rewarded to bring the standard automatic dimming rearview mirror in the market. The company had previously won the Automotive News PACE Award back in 1995, when the awards were first debuted.

 

Also See: Mirror Dimming, Dimming Market, Automotive Mirror, Mirror, Market, Dimming, Automotive

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