Global Automotive Mirror Dimming Market segmented by Fuel Type (Battery Electric Vehicle (BEV), Internal Combustion Engine (ICE) and Hybrid Vehicle), By Application (Inside Rear-View Mirror (IRVM) and Outside Rear-View Mirror (ORVM)), By Vehicle Type (Passenger Vehicle and Commercial Vehicle), By Functionality (Connected and Non-Connected) and By Region – Global Forecast to 2023.
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Key Players:
The major players operating the global market are Konview Electronics Corporation Limited. (China), Gentex Corporation (U.S), SL Corporation (South Korea), Ficosa International S.A. (Spain), FLABEG Automotive Holding GmbH (Germany), Global Media Industry Group Co. (China), Magna International Inc. (Canada), Samvardhana Motherson Group (India), Honda Lock Mfg. Co. Ltd. (Japan), Murakami Corporation (Japan), TOKAIRIKA Co. LTD. (Japan), and Ichikoh Industries Ltd. (Japan).
Global Automotive Mirror Dimming Market Analysis:
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. The safety of vehicles and passengers has become a major concern of the vehicle buyers due to the growing deaths occurring every year. In order to reduce such road accidents, Original Equipment Manufacturers are implementing safety features in automotive mirrors, thereby driving the global market.
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 (Original Equipment Manufacturers) are integrating different safety features in automotive mirrors. This integration of safety features is expected to drive the automotive mirror dimming market. The automotive mirror dimming offer safety and comfort to the drivers as they do not have to adjust the inside and outside rear-view-mirror. They can automatically control the movement of the mirrors at various speeds when the system is turned on. With the growing technological advancements, rising demand for luxury features, and increasing production of vehicles are some of the major factors impacting the market growth positively.
Market Segmentation:
The global automotive mirror dimming market has been segmented on the basis of application, fuel type, vehicle type, functionality, and region.
By mode of fuel type, the global market has been segmented into battery electric vehicle (BEV), hybrid vehicle, and internal combustion engine (ICE). Among these, the battery electric vehicle segment is presumed to expand at the highest rate owing to the rise in production of new electric vehicle.
By mode of application, the global market has been segmented into inside rear-view-mirror and outside rear-view-mirror. Among these, the inside rear-view-mirror is anticipated to register the highest market share due to its increasing application in all types of vehicles.
By mode of functionalities, the global market has been segmented into connected and non-connected. Among these, connected auto mirror dimming comes integrated with several features in order to offer safety and convenience to the drivers during driving.
By mode of vehicle type, the market has been segmented into commercial vehicle and passenger vehicle. Among these, passenger vehicle is estimated to hold the largest share in the market owing to the increasing sales of passenger vehicles.
Regional Analysis:
The global automotive mirror dimming market is expected to witness a phenomenal growth during the forecast period. This is due to development of automotive manufacturing industries in developing economies such as China and India. Availability of low-cost automation in manufacturing and innovation in engineering, focus on fuel efficiency and sustainability, and the rising vehicle production levels, drive the market of automotive mirror dimming market. The Asia Pacific region is currently the leading region in global automotive mirror dimming market and is followed by Europe and North America.
Latest Industry News:
A leading supplier of digital vision, dimmable glass, connected car, and fire protection technologies, Gentex Corporation has announced that it has added new leadership personnel as part of an internal reorganization effort which has been designed to reflect the Company’s growing automotive technology portfolio and to support its ongoing new market development efforts.
Table Of Contents:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Threat Of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power Of Buyers
3.2 Value Chain/Supply Chain Analysis
4 Automotive Mirror Dimming Market Dynamics
4.1 Introduction
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
Continued…
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