LONDON, June 26, 2018 /PRNewswire/ -- Rear-view Mirror
Market Size, Share & Trends Analysis Report By Feature Type
(Blind Spot Detection, Heating), By Mounting Location, By Product
Type, By Mirror Type, By Vehicle Type, And Segment Forecasts, 2018
- 2025
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https://www.reportbuyer.com/product/5445428
The global rear-view mirror market size is expected to reach
USD 15.76 billion by 2025 exhibiting
a 5.7% CAGR during the forecast period. Increasing awareness among
people regarding vehicle safety and rising sales of luxury vehicles
equipped with navigation and infotainment systems have bolstered
market growth.
Growing interest of rear-view mirror manufacturing companies, such
as Continental AG, toward capturing a larger share in the developed
markets of regions such as North
America is expected to drive product adoption. Additionally,
rise in commercial activities is bolstering market growth.
The Asia Pacific regional market
is expected to witness considerable growth, owing to increasing
sales of passenger vehicles.Stringent government regulations
pertaining to passenger and vehicle safety are further bolstering
the growth of the market.
Additionally, surging investments in automobile production in many
developing countries of the region are driving the market.
However, high replacement, development, and maintenance costs of
smart rear-view mirrors are expected to hinder market growth. Thus,
rear-view mirror providers are focusing on developing affordable
solutions that can be used in other markets such as utilities and
transportation.
Further key findings from the study suggest:
• Auto-dimming feature offers both visual and audio alerts and the
segment is expected to register the highest growth over the
forecast period by feature
• Demand for door-mounted mirrors is expected to increase in
commercial vehicles
• Demand for smart rear-view mirrors is expected to increase in
passenger vehicles owing to benefits such as a built-in camera that
provides enhanced vision in unfavorable weather conditions and
eliminates glare caused by headlights of other cars
• Erratic cold weather conditions are one of the key factors
driving demand for mirrors with in-vehicle heating functions in
North America and Europe
• Asia Pacific is expected to
emerge as the fastest-growing region over the forecast period owing
to increasing sales of passenger and high-end premium vehicles
• Prominent industry participants include Gentex Corporation;
Continental AG; Valeo; Magna International, Inc.; and Murakami
Corporation.
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https://www.reportbuyer.com/product/5445428
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