Rear View Mirror Market Growth Prospect, Product Type and Market Analysis Forecast to 2021

The Global Rear View Mirror Market, on the basis of application, is segmented into passenger vehicles and commercial vehicles. From the commercial point of view, rear view mirrors being the spare parts of an automobile enjoy heavy market demand owing to certain factors. From the OEM perspective, the automobile rear-view mirror is anticipated to grow at a higher CAGR. Certain factors such as visual blind spots and incompatibility with operations, the market witness a high demand for new rear-view mirrors, specifically the ones with electric control function, auto-dimming function, heating function electric folding function and memory function.

A rear view mirror is a mirror in automobiles which enables the driver to see rearward through the vehicle’s rear window. In cars, the rear-view mirror is usually installed on the top of the windshield. It enhances the side-view mirrors, which serve as the only rear-vision mirrors on motorcycles and bicycles.

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The mounting of rearview mirrors takes place depending upon the size and nature of the vehicle. For instance, in trucks and buses the load often blocks rear view during travel. So, to get a backward view of traffic side-view mirrors are often installed. As the distance between the vehicles increase, the mirrors leave a large non-visible area behind the vehicle. In motorcycles, it may or may not have rear-view mirrors and motorcycles for off-road use normally do not possess any rear-view mirrors.

Rear view mirrors occur in various shapes and designs and have various methods of mounting the mirrors to the motorcycle, mostly to the handlebars. Bicycles are equipped with rear-view mirror installed on a handle bar. Rear view mirrors are also fitted to the bicycle frame on a helmet or a pair of eye glasses which enables the rear visibility without having to turn around.

The key players in the rearview mirror market includes growth in vehicle production and sales, and growing demand for improved aesthetics resulting into increased usage of glass in passenger cars, growing concerns regarding safety and security & the trend of laminated side glazing. On the basis of type, the rearview mirror market is segmented into exterior and interior.

On the basis of technology, the rearview mirror market is segmented into SPD, EC, LC, photochromic and thermocromic. On the basis of geographic segmentation, the rearview mirror market spans North America, Latin America, Europe, Asia-Pacific, Middle-East and Africa. APAC market is anticipated to grow at a higher CAGR owing to presence of high customer base and number of OEM.

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India, Japan and China are the hot regions for market growth. North America is expected to follow the trend. The key players in the rearview mirror market include Nippon Sheet Glass Co Ltd, Asahi Glass Co Ltd, SMR, Saint Gobain S.A., Fuyao Glass Industry Group Co, Ltd., and Magna International Inc.