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Lucintel identifies and prioritizes opportunities for growth in the global automotive mirror market

Publish Date: 03-08-2017 06:14:45 | Contact name: Lucintel | Location: USA | 1902 times displayed |



According to a new market report published by
Lucintel, the future of the global automotive mirror market looks good with opportunities
in the interior as well as exterior mirror market. The global automotive mirror
market is expected to reach an estimated $9.0 billion by 2021. The global automotive
mirror market is forecast to grow at a CAGR of 4.5% from 2016 to 2021. The
major drivers of growth for this market are increase in vehicle production and increasing
content of electronic technology in vehicles.



In this market, interior mirror (basic,
auto-dimming and multi-functional) and exterior mirror (basic, medium, premium,
commercial and auto-dimming mirrors) are the market segment by application type.
On the basis of vehicle type, the market is segmented as passenger car and
commercial vehicle. On the basis of its comprehensive research, Lucintel forecasts
that the interior mirror segment is expected to show above average growth
during the forecast period.



Within the global automotive mirror market,
the OEM segment is expected to remain as the largest market. Increase in vehicle
production and changes in the government policies are the major factors, which
would spur growth for this segment over the forecast period.



APAC is expected to remain the largest market due
to large vehicle production and rising customer’s concern towards their safety
and comfortability. Asia Pacific and Rest of the World are expected to witness
significant growth over the forecast period because of increasing penetration
of auto-dimming mirrors in vehicles in developing countries to follow
government regulations on vehicular safety.



For business expansion, the report suggests
innovation and new product development to enhance driver’s safety and minimize
the glare from other vehicles. The report further suggests the development of
partnerships with customers to create win-win situations and development of
low-cost solutions for customers.





Emerging trends, which have a direct impact on
the dynamics of the industry, include the introduction of hybrid full display mirror
system and development of blind spot monitoring and cross path detection
systems. Magna International Inc., Samvardhana Motherson Group, Gentex
Corporation, Ficosa International, and Murakami Kaimeido are the major mirror
suppliers in the global automotive mirror market. Some companies are opting for
merger & acquisition as strategic initiatives for driving growth.





Lucintel, a
leading global strategic consulting and market research firm, has analyzed growth opportunities in global
automotive mirror market by application, end-user, vehicle type, and region has
come up with a comprehensive research report, “Growth
Opportunities in Global Automotive Mirror Market 2016-2021: Trends, Forecast,
and Opportunity Analysis
.” The
Lucintel report serves as a spring board for growth strategy as it provides a
comprehensive data and analysis on trends, key drivers, and directions. The
study includes a forecast for the growth opportunities in global automotive
mirror market by application, end-user, vehicle type, and region as follows:



By Application [Volume (Million Units) and $
billion from 2010 to 2021]:



·
Interior Mirror



– Basic
Mirror



– Auto-Dimming
Mirror



– Multi-Functional
Mirror





·
Exterior Mirror



– Basic
Mirror



– Medium
Mirror



– Premium
Mirror



– Commercial
Mirror



– Auto-Dimming
Mirror



By End-user [Volume (Million Units) and $
billion from 2010 to 2021]:



·
OEM



·
Aftermarket



By Vehicle Type [Volume (Million Units) 2015 &
2021]:



·
Passenger Car



·
Commercial Vehicle





By region [Volume (Million Units) and $ billion from
2010 to 2021]:



·
North America



·
Europe



·
Asia Pacific



·
Rest of the World



This 202-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com. Lucintel offerings include Mass Transportation, Transportation Market Report,

Strategic
Growth Consulting
, Commercial Due Diligence
Report
and Business
Strategy Consulting
.





About
Lucintel



Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers market assessments, competitive
analysis, opportunity analysis, growth consulting, M&A, and due diligence
services to executives and key decision-makers in a variety of industries. For
further information, visit www.lucintel.com.



This
report answers following 11 key questions:



Q. 1. What are some of the most promising,
high-growth opportunities for the automotive mirror market by application,
end-user, vehicle type, and region?



Q. 2. Which segments will grow at a faster pace
and why?



Q. 3. Which
region will grow at a faster pace and why?



Q.4. What are the key factors affecting market
dynamics? What are the drivers, challenges and business risks in this market?



Q.5. What are the
business risks and competitive threats in this market?

Q.6. What are emerging trends in this market and
reasons behind them?



Q.7. What are some changing demands of customers
in the market?



Q.8. What are the new developments in the market?
Which companies are leading these developments?



Q.9. Who are the major players in this market?
What strategic initiatives are taken by key players for business growth?



Q.10. What are some of the competing products in
this market and how big of a threat do they pose for loss of market share by materials /
product substitution?



Q.11. What M & A activity has occurred in the
last 5 years and what is its impact on the industry?





Contact Lucintel: Lucintel identifies and prioritizes opportunities for growth in the global automotive mirror market

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