Global Automotive Power Folding Mirror Systems Market 2017-2021

Overview of the global automotive power folding mirror systems market

According to Technavio's research analysis, the increased focus on enhanced safety features will be one of the major factors that will have a positive impact on the global automotive power folding mirror systems market during the forecast period. The rising government regulations on safety features such as in the US, NHTSA has made it compulsory to fit all the vehicles with rear-view cameras by 2018. The market has also witnessed a rise in the awareness levels among consumers to get vehicles with improved safety features. This move has resulted in even higher variants of the mass-selling cars being equipped with smart side view mirrors. For instance, in the US, the best-selling cars such as Toyota Camry and Toyota Corolla are being fitted with auto-dimming mirrors with power folding mirror systems. This will lead to the growth of this global market, which according to our analysts, will register a revenue of more than USD 5 billion by 2021.

The rising popularity of smart rearview mirrors with power folding feature is one of the key trends that will contribute to the market growth. Mirrors are constantly improved and presently equipped with features such as temperature readings, travel calculations, and displaying weather conditions. For instance, Nissan has introduced a smart rear-view mirror with power folding feature that offers better rear visibility. This smart mirror also enables switching between the conventional rear-view mirror and an LCD monitor. This will lead to the growth of the smart rearview mirrors market in the forthcoming years.

Competitive landscape and key vendors  

The automotive power folding mirror systems market consists of few well-established vendors and several regional players. The key vendors in the market are presently expanding their customer base and are raising their investments in R&D activities to cater to the rising demand for advanced mirror systems at lesser costs. The competitive environment in the market will increase with the advancements in technology and government regulations.

The leading vendors in the market are ?

• Ficosa International
• Gentex
• Magna International
• MURAKAMI
• Samvardhana Motherson

The other prominent vendors in the market are FLABEG AUTOMOTIVE HOLDING, Milenco, Mirror Controls international, and Sakae Riken Kogyo.

Segmentation by vehicle type and analysis of the automotive power folding mirror systems market

• Passenger cars
• Pickup trucks

During 2016, the passenger vehicle segment accounted for the major shares of the automotive power folding mirror systems market. Factors such as the increasing replacement of conventional ORVMs by smart ORVMs in the passenger cars will contribute to the growth of this industry segment in the coming years.

Geographical segmentation and analysis of the automotive power folding mirror systems market

• Americas
• APAC
• EMEA

This market study estimates that in terms of geographic regions, APAC will be the major revenue contributor to the automotive power folding mirror systems market throughout the forecast period. The increasing growth of the passenger cars and rising household incomes will drive the market growth in the region.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global automotive power folding mirror systems?
• What are the key market trends impacting the growth of the global automotive power folding mirror systems?
• What are the challenges to market growth?
• Who are the key vendors in the global automotive power folding mirror systems?
• What are the market opportunities and threats faced by the vendors in the global automotive power folding mirror systems?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global automotive power folding mirror systems?

Technavio also offers customization on reports based on specific client requirement.

Technavio presents business intelligence information like market size, growth potential, key market players, competitive landscape, and market size from the automotive industry. The upcoming research report on the global automotive power folding mirror systems market covers vendors like SMR, K Source, Sakae Riken Kogyo, Samvardhana Motherson, Murakami Corp., TI, Mirror Control, Magna, and Eaton who operate in the automotive electronics sector.

To get a comprehensive overview of the market, Technavio uses extensive primary and secondary research comprising of the study of factors such as technological advancements, market size, emerging markets, and growth potential. Using tools such as market size and market growth assessment and vendor assessment across different geographical regions such as Americas, EMEA, and APAC, the upcoming report on the global automotive power folding mirror systems market will help clients in managing the resources across different geographical regions efficiently.

The upcoming report on the global automotive power folding mirror systems market also considers the growth of related markets such as the automotive rear cross traffic alert system (RCTAS) market and automotive heated steering wheel market which are expected to grow at the rate of 10% and 7%, respectively, for the forecast period of 2017 to 2021. Since this feature assists the car to fit into tight space easily or parking space, the demand for power folding mirror from the consumer segment is expected to grow.

The upcoming industry research report on the global automotive power folding mirror systems market also accurately maps the global and regional market size, technological advancements, major vendors, as well as the constraints that the automotive electronics sector currently experiences. The report also covers insights and information from the related sectors such as automotive manufacturing, wheels and tires, and auto accessories.

Our market research methodology for the global automotive power folding mirror systems market

Technavio also offers clients the option to customize every report to suit their specific requirements and offers attractive discounts on all upcoming reports and future purchases.