Light Vehicle OE Mirrors Market Trends, Market Share, Industry Size, Growth, Opportunities and Market Forecast – 2022 to 2028

The global light vehicle OE mirrors market is anticipated to grow at a CAGR of 6.0% during the forecast period (2022-2028). The mirrors of vehicles are convex mirrors owing to the image being smaller; more space can be covered by this mirror, so a convex mirror provides for a larger field of view than a plane mirror. The increase in concerns related to passenger and driver protection against accidents are some driving factors for the growth of the market. Also, changes in vehicle design over the years coupled with the introduction of oversized back headrests for vehicle and passenger safety are some other factors that contribute to an increased demand for light vehicle OE mirrors.

The market is segmented based on the type and application. Based on the type, the market is sub-segmented into exterior mirrors and interior mirrors. An exterior mirror (or side mirror), also known as a wing mirror, is a mirror placed on the outside of motor vehicles for the purposes of supporting the driver monitor areas behind and to the sides of the vehicle, outside the driver’s peripheral vision. The interior rear view mirror, often called the main mirror provides the driver with a view of what’s going on behind the car. The interior mirror is found inside the car above the driver’s seat. It enables one to see what is near the car. It supports a driver to calculate the distance between cars and the one behind them.

Some major players in the market include Gentex Corp., Magna International Inc., and SMR Deutschland GmbH, among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships, new product launches, and collaborations, to stay competitive in the market. For instance, in April 2021, Magna International Inc. developed a future-ready, smart solution that alerts a driver about danger without adding distraction. The driver monitoring system utilizes advanced driver assistance systems (ADAS), camera, and interior mirror technologies to offer a systems-level approach for providing these features and functionalities. For instance, in January 2020, Gentex Corp and Aston Martin announced that they have jointly developed an interior rear vision system for future Aston Martin vehicles. It features a camera monitoring system (CMS) that uses three cameras that will improve the driver’s vision in the traffic.

Market Coverage      

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Type
  • By Application
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape- Gentex Corp., Magna International Inc., and SMR Deutschland GmbH, among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Light Vehicle OE Mirrors Market Report by Segment

By Type

• Exterior Mirrors
• Interior Mirrors

By Application

• Car
• Light Trucks