Press release
Automotive Mirror Dimming Market Is Expected To Grow At A CAGR Of 4% By 2023
Automotive Mirror Dimming Market
Global automotive mirror dimming market has witnessed gradual growth in recent years, and is expected to grow, steadily, in the forecast period. The global automotive mirror dimming market is primarily driven due to increasing awareness about vehicle and passenger safety. The safety of passengers and vehicles has become the prime concern of vehicle buyers. According to the global status report on road safety 2015, more than 1.2 million road traffic deaths occur each year, globally. To reduce these accidents, OEMs are integrating different safety features in automotive mirrors. This integration of safety features is expected to drive the automotive mirror dimming market.
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Global automotive mirror dimming market augments the safety and ease of the driver, as they do not require the driver to adjust the inside rear-view mirror (IRVM) and outside rear-view mirror (ORVM). Automotive mirror dimming can control the movement of the rear-view mirror at flexible speed when the system is switched on. Improvement in the technological advancement, rise in production of vehicles, and increase in demand for luxury features are the key factors that drive the automotive mirror dimming market. Implementation of automotive mirror dimming is driven by the rise in use of advanced electrical features in vehicles. However, their demand has increased due to the rise in the number of road accidents, across the world. The overall cost of vehicles has increased due to the integration of advanced electrical feature, which acts as a restraint to the automotive mirror dimming market. The global automotive mirror dimming market is expected to grow at ~ 4% CAGR during the forecast period.
Key Players:
The key players of global automotive mirror dimming market are Gentex Corporation (U.S), Samvardhana Motherson Group (India), Magna International Inc. (Canada), Ficosa International S.A. (Spain), Ichikoh Industries, Ltd. (Japan), Murakami Corporation (Japan), TOKAIRIKA, CO, LTD. (Japan), SL Corporation (South Korea), Honda Lock Mfg. Co., Ltd. (Japan), FLABEG Automotive Holding GmbH (Germany), Global Media Industry Group Co. (China) and Konview Electronics Corporation Limited. (China).
Market Research Analysis:
Connected functionality segment is expected to grow at the highest CAGR
Connected auto dimming mirrors stand for dimming mirrors integrated with various other features to provide safety and convenience to drivers while driving. Some of the features that come integrated with dimming mirrors are temperature display, Bluetooth and hands-free connectivity, and navigation. Due to the increasing adoption of connected dimming mirrors, the market for auto dimming mirrors is expected to grow at the highest rate during the forecast period.
Scope of the Report:
This study provides an overview of the global automotive mirror dimming market, tracking four market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the automotive mirror dimming market by its fuel type, by application, by vehicle type, by functionality and by region.
By Fuel Type
• Battery Electric Vehicle (BEV)
• Internal Combustion Engine (ICE)
• Hybrid Vehicle
By Application
• Inside Rear-View Mirror (IRVM)
• Outside Rear-View Mirror (ORVM))
By Vehicle Type
• Passenger Vehicle
• Commercial Vehicle
By Functionality
• Connected
• Non-Connected
By Regions
• North America
• Asia Pacific
• Europe
• Rest of the World
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