Global Electric Outside Rear-View Mirror (ORVM) Market was valued at US$ XX Mn in 2019 and is expected to reach US$ Mn by 2027, at CAGR of XX % during forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
The report has profiled twelve key players in the market from different regions. However, the report has considered all market leaders, followers, and new entrants with investors while analyzing the market and estimation the size of the same. The manufacturing environment in each region is different and focus is given on the regional impact on the cost of manufacturing, supply chain, availability of raw materials, labor cost, availability of advanced technology, trusted vendors are analyzed and the report has come up with recommendations for a future hot spot in APAC region. The major country’s policies about manufacturing and its impact on OEM demand are covered in the report.
The rise in demand for SUVs is expected to drive the market with a CAGR of XX% during the forecast period.
Automotive industry growth and rising vehicle demand are major drivers for the growth of electric outside rear-view mirrors. SUV segment vehicles are getting major market demand. Mirrors have gone through many changes when it comes to appearance and designs. Often the esthetic and functional design is more important than a good aerodynamic design. As time progresses aerodynamic aspects have also become important and dominant. In SUVs, like Toyota’s Fortuner, the rearview mirror is mounted on the front hood of the vehicle to provide wider visibility. Some SUV attach mirror to the rear windshield to reduce blind spots due to high ground clearance, for example, Ford Endeavor and Everest. Rearview mirrors are mandatory for vehicles. There must be two mirrors, one driver side and one on the passenger side. The adoption of electronic systems is driving the electric outside rearview mirror market. The addition of electronic features like auto-dimming, electric adjustment, auto-folding, and heated electric rearview mirrors are getting popular. Growth in vehicle automation trend is anticipated to drive the growth of electric outside rearview mirror.
Global Electric Outside Rear-View Mirror (ORVM) Market
The global electric outside rearview mirror market is segmented by feature, vehicle type, powertrain type, sales channel, and region. By feature, the market is sub-segmented into Auto-Dimming, Blind Spot Indicator, Automatic Folding, and Others. The automatic folding segment held a prominent share of the market in 2019. However, Auto-Dimming and Blind Spot Indicator segments are expected to grow over the forecast period.
Global Electric Outside Rear-View Mirror (ORVM) Market1
North America has lucrative growth during the forecast period
Thanks to the countries like the US and Canada in North America have a major demand for the automatic and electronic control system. Trends such as less manual operation and advance function in the vehicle are driving the market during the forecast period. The majority of key players are operating in the market have their presence in the North American market. High demand for luxury and premium vehicles, environmental conditions such as fog and icing, the high adoption rate for advance features fueling the demand for electric outside rearview mirror in the North America Market.
The objective of the report is to present a comprehensive analysis of the Global Electric outside Rear-View Mirror (ORVM) Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Electric Outside Rear-View Mirror (ORVM) Market dynamics, structure by analyzing the market segments and project Global Electric Outside Rear-View Mirror (ORVM) Market Clear representation of competitive analysis of key players by prBy Powertrain Type, financial position, Product portfolio, growth strategies, and regional presence in the Global Electric Outside Rear-View Mirror (ORVM) Market the report investor’s guide.
Scope of the Global Electric outside Rear-View Mirror (ORVM) Market
Global Electric outside Rear-View Mirror (ORVM) Market, By Feature Type
• Blind Spot Indicator
• Automatic Folding
Global Electric outside Rear-View Mirror (ORVM) Market, By Vehicle Type
• Passenger Car
• Commercial Vehicle
Global Electric outside Rear-View Mirror (ORVM) Market, By Powertrain Type
Global Electric outside Rear-View Mirror (ORVM) Market, By Sales Channel Type
Global Electric outside Rear-View Mirror (ORVM) Market, by Region
• Asia Pacific
• North America
• South America
• Middle East Africa
Key players operating in Global Electric outside Rear-View Mirror (ORVM) Market
• Ficosa International SA
• Magna International Inc
• Ichikoh Industries, Ltd
• Samvardhana Motherson Group
• Murakami Corporation
• Magna International
• MEKRA Lang
• SL Corporation
• Shanghai Lvxiang
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