Automotive power mirror is an electrically powered side-view mirror placed on the exterior of the vehicle to provide a view of the surroundings behind the vehicle. The automotive power mirror enables the driver to adjust or control the mirror from inside the vehicle cabin. The automotive power mirror may also be heated in order to maintain a clear vision even during fogging and icing.
Rising vehicle sales is a major driver of the automotive power mirror market. Increasing popularity of SUVs is boosting the demand for automotive power mirror. A power mirror is necessary in SUVs owing to high clearance of these vehicles. In SUVs, such as Toyota’s Fortuner, the power mirror is mounted on the hood instead of the pillar to gain wider visibility. In SUVs such as Ford Everest or Endeavor, the mirror is also attached to the rear windshield, as there is a blind spot in the rear due to these vehicles’ high clearance. This, in turn, is the boosting the automotive power mirror market. Power mirrors are mandatory, in order to ensure safety, leading to the rise in adoption of electronics. This, in turn, is anticipated to drive the demand for power mirrors, thereby fueling the automotive power mirror market. Integration of electronics has provided features such as auto-dimming and heated power mirrors. The auto-dimming feature improves visibility, as it reduces the glare of oncoming vehicles. Auto-dimming power mirror uses an electrochromic material which changes color when a voltage passes through it. The demand for auto-dimming type of power mirror is estimated to rise during the forecast period, as they help optimize vision and aid the driver thus, improving safety. Increased adoption of driver assistance feature has led to the integration of radar, LiDAR, sensors, and cameras being integrated in the power mirrors. Rise in automation trend is expected to further drive the development of power mirrors with integrated cameras and vision sensors.
The high price of power mirror is a key factor restraining the growth of market. However, premium vehicles and higher model version use electric vehicle there penetration in entry level segment is expected to rise due to rising competition among automakers and need of product differentiating factor.
The global automotive power mirror market can be segmented based on feature, vehicle type, sales channel, and region. Based on feature, the automotive power mirror market can be segregated into conventional, heated, and auto-dimming. The conventional power mirror held a prominent share of the market. However, heated and auto-dimming segments are anticipated to expand during the forecast period.
In terms of vehicle type, the automotive power mirror market can be classified into passenger vehicle, light commercial vehicle, and heavy commercial vehicle.
Based on sales channel, the automotive power mirror market can be bifurcated into OEM and aftermarket. Power mirrors are generally offered as OE feature and thus, the OEM segment is anticipated to lead the market.
In terms of region, the automotive power mirror market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is projected to lead the global automotive power mirror market due to rapid economic expansion witnessed in developing countries, which in turn is boosting sales of vehicles in these countries.
Key players operating in the global automotive power mirror market include Ficosa International SA, Samvardhana Motherson Group, Magna International Inc., Ichikoh Industries, Ltd., and Murakami Corporation.
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