Auto dimming mirrors are one of the most integral part of vehicle safety accessories. Auto dimming mirrors utilize exclusive electrochromic technology to dim the proportion of glare coming from the headlamps of tailing vehicles. Auto dimming mirrors consist of an ambient sensor and a glare sensor, which are connected to a microprocessor. They then detect any glare coming from a source behind and accordingly send a charge through the electrochromic material present in the auto dimming mirror. The electrochromic material, which is placed in between two electrically conductive glasses make the mirrors turn dark in proportion to the glare. The intensity of light is detected by two sensors placed in the inside rear-view mirror of a vehicle. The dimming of exterior mirror is controlled by sensors placed inside the interior mirrors, which becomes active when brightness gets low.
Auto dimming mirror is anticipated to witness significant growth over the years, owing toIncreasing demand for advanced features coupled with growing automotive industry and Increasing need for safety in automobiles.
The global auto dimming mirror market is segmented into application, vehicle type, and fuel type and region. Depending on application, the market is divided into inside rear-view mirror, and outside rear-view mirror. On the basis of vehicle type, it is categorized into passenger cars and commercial vehicle. Fuel type are categorized as internal combustion engine, hybrid, and electric. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players analyzed in the auto dimming mirror market include Ficosa, Flabeg, Gentex corporation, Honda Lock, Konview, Magna, Murakami Corporation, SAMVARDHANA MOTHERSON GROUP, Shenzhen Germid Co., Ltd., Tokairika, Co, Ltd., and others.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
By Application
By Vehicle Type
By Fuel Type
By Region
Auto dimming mirror is anticipated to witness significant growth over the years, owing toIncreasing demand for advanced features coupled with growing automotive industry and Increasing need for safety in automobiles.
The global auto dimming mirror market is segmented into application, vehicle type, and fuel type and region. Depending on application, the market is divided into inside rear-view mirror, and outside rear-view mirror. On the basis of vehicle type, it is categorized into passenger cars and commercial vehicle. Fuel type are categorized as internal combustion engine, hybrid, and electric. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players analyzed in the auto dimming mirror market include Ficosa, Flabeg, Gentex corporation, Honda Lock, Konview, Magna, Murakami Corporation, SAMVARDHANA MOTHERSON GROUP, Shenzhen Germid Co., Ltd., Tokairika, Co, Ltd., and others.
KEY BENEFITS FOR STAKEHOLDERS
- This study presents the analytical depiction of the global auto dimming mirror market along with the current trends and future estimations to depict the imminent investment pockets.
- The overall market potential is determined to understand the profitable trends to enable stakeholders gain a stronger foothold in the market.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current market is quantitatively analyzed from 2018 to 2026 to highlight the financial competency of the market.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers.
KEY MARKET SEGMENTS
By Application
- Inside rear-view mirror
- Outside rear-view mirror
By Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
By Fuel Type
- ICE
- Hybrid
- Electric
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: AUTO DIMMING MIRROR MARKET, BY APPLICATION
CHAPTER 5: AUTO DIMMING MIRROR MARKET, BY VEHICLE TYPE
CHAPTER 6: AUTO DIMMING MIRROR MARKET, BY FUEL TYPE
CHAPTER 7: AUTO DIMMING MIRROR MARKET, BY REGION
CHAPTER 8: COMPANY PROFILES
Executive Summary
According to the report titled, 'Auto dimming mirror Market by Application, Vehicle Type and Fuel Type: Global Opportunity Analysis and Industry Forecast, 2019-2026,' the global auto dimming mirror market size was valued at $1.86billion in 2018, and is projected to reach $2.77billion by 2026, registering a CAGR of 5.3% from 2019 to 2026.Asia-Pacific dominates the market, followed by Europe, North America, and LAMEA. China dominated the Asia-Pacific auto dimming mirror market share in 2018, and is expected to maintain its lead during the forecast period.
Leading automobile manufacturers are introducing new range of automobiles with more advanced technology in mirrors and refinement, which, in turn, is anticipated to propel the growth of auto-dimming mirror market in North America. For instance, Mazda, a Japanese multinational automaker, launched new model named Mazda 2 with a feature of auto-dimming rear-view mirror. In addition, the auto-dimming market in Europe is anticipated to exhibit remarkable growth during the forecast period, owing to focus of automobile manufacturers on development of innovative safety technologies for automobiles.
The automobile industry giants in Asia-Pacific are introducing new range of vehicles with the feature of auto-dimming rear-view mirrors, which is anticipated to boost the growth of the market. For instance, on February 3, 2020, Tata Motors, an automotive manufacturer in India launched new Tata Harrier BS6, which has advanced and innovative technologies such as next-generation Kryotec diesel engine and auto-dimming rearview mirrors, which in turn is driving the growth of market. In addition, Asia-Pacific is the highest contributing region to the global auto dimming mirror market and is anticipated to maintain its lead during the forecast period.
Major automotive OEMs are providing auto dimming mirrors in their cars to increase safety of passengers and drivers. For instance, Volvo, a luxury vehicle brand, launched Volvo XC40 passenger car with auto dimming rear-view mirrors. Such factors are anticipated to drive demand for auto dimming mirrors in the passenger cars segment. Passenger vehicle is the largest segment in vehicle type as passenger cars segment dominates the global vehicles market and is anticipated to maintain its lead during the forecast period. In addition, the use of auto dimming mirrors in LCVs is estimated to grow positively during the forecast period, owing to rise in demand for light commercial vehicles. For instance, European Automobile Manufacturers Association, in 2017, stated that 19.6 million motor vehicles were produced in the European Union, of which 17 million were passenger cars, and remaining 2.6 million were commercial vehicles, which is estimated to provide lucrative opportunities for the auto dimming mirrors market. Commercial vehicles majorly consist of light commercial vehicle and heavy commercial vehicles and are usually utilized for transportation of goods. Light commercial vehicles (LCVs) are usually fitted with a greater number of outside rear-view dimming mirrors than conventional passenger cars.
Advancements in ICE vehicles, coupled with rising need for safety has attracted automotive OEMs toward auto dimming mirrors. For instance, in 2019, Porsche AG launched a luxury internal combustion engine car - Porsche Cayenne S with auto dimming mirrors. Thus, such instances are anticipated to propel the auto dimming mirror market growth. In addition, Major electric car manufacturers are focusing on development of new, better, and upgraded electric cars with extended range, while providing maximum safety. This factor is anticipated to boost the demand for auto dimming mirrors as they provide greater safety compared to conventional mirrors. For instance, Tesla Model 3, an electric car, which had achieved the highest safety assist score, included auto-dimming and power-folding mirrors in the base model of their ca.
Increasing demand for advanced features coupled with growing automotive industry is propelling the growth of auto dimming mirror market. In addition, increasing need for safety in automobiles is boosting the growth of market. However, high cost as compared to conventional mirrors is hindering the growth of market. Further, production of cloud based auto dimming mirror is anticipated to provide a remarkable growth opportunity for the players operating in the auto dimming mirror market.
According to Lalit Katare& Anvay Sonpimple, Lead Analysts, Automotive and Transportation “By application, the inside rear-view mirror segment dominated the global auto dimming mirror market in 2018, in terms of revenue. In addition, based on vehicle type, the commercial vehicle segment is expected to exhibit lucrative growth rate during the forecast period. Presently, Asia-Pacific is the highest revenue contributor, and is expected to garner the highest revenue in the global market during the forecast period, followed by Europe, North America, and LAMEA.”
KEY FINDINGS OF THE STUDY
- By application, the outside rear-view mirror segmentis anticipated to grow at a lucrative growth rate.
- By vehicle type, the passenger vehicle segment was the highest revenue contributor in 2018.
- By region, Asia-Pacific is anticipated to exhibit the highest CAGR during the forecast period.
- By region, Asia-Pacific contributed the highest auto dimming mirror market revenue in 2018, followed by Europe, North America, and LAMEA.
Companies Mentioned
- Ficosa
- Flabeg
- Gentex corporation
- Honda Lock
- Konview
- Magna
- Murakami Corporation
- SAMVARDHANA MOTHERSON GROUP
- Shenzhen Germid Co. Ltd.
- Tokairika Co Ltd.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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