Global Automotive Electrically Adjustable Outside Rear View Mirror (ORVM) Market Growth, Share, Size, Trends and Forecast (2024 - 2030)

By Type;

Smart Rear-View Mirrors and Conventional Rear-View Mirrors.

By Application;

Passenger Vehicles and Commercial Vehicles.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2020 - 2030).
Report ID: Rn039020744 Published Date: May, 2024 Updated Date: June, 2024

Introduction

Global Automotive Electrically Adjustable Outside Rear View Mirror (ORVM) Market (USD Million), 2020 - 2030

In the year 2023, the Global Automotive Electrically Adjustable Outside Rear View Mirror (ORVM) Market was valued at USD 23,235.58 million. The size of this market is expected to increase to USD 30,990.43 million by the year 2030, while growing at a Compounded Annual Growth Rate (CAGR) of 4.2%.

The global automotive electrically adjustable outside rear-view mirror (ORVM) market is a vital segment within the automotive industry, encompassing a range of advanced mirror technologies designed to enhance driver visibility and safety. ORVMs play a crucial role in providing drivers with a clear view of the surrounding environment, contributing significantly to overall road safety and maneuverability. With the evolution of automotive technology and the increasing emphasis on vehicle safety and convenience features, the demand for electrically adjustable ORVMs has witnessed substantial growth across various vehicle segments.

Electrically adjustable ORVMs offer drivers the convenience of adjusting the mirror position remotely, typically through interior controls located within the vehicle cabin. This feature allows drivers to customize the mirror position according to their preferences, improving visibility and reducing blind spots. Moreover, electrically adjustable ORVMs often incorporate additional functionalities such as heating elements, auto-dimming capabilities, and integrated turn signals, further enhancing their utility and value proposition for vehicle owners. As automakers continue to prioritize safety and comfort features in their vehicles, the adoption of electrically adjustable ORVMs is expected to remain on an upward trajectory.

The automotive electrically adjustable ORVM market is characterized by ongoing technological advancements aimed at improving mirror functionality, design, and integration with other vehicle systems. Manufacturers are focusing on developing innovative mirror solutions equipped with features such as camera-based systems, blind-spot detection, and integration with advanced driver assistance systems (ADAS). Furthermore, regulatory initiatives mandating the inclusion of certain safety features in vehicles, coupled with consumer demand for enhanced comfort and convenience, are driving the adoption of electrically adjustable ORVMs across global automotive markets.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Type
    2. Market Snapshot, By Application
    3. Market Snapshot, By Region
  4. Global Automotive Electrically Adjustable Outside Rear View Mirror (ORVM) Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Safety Regulations
        2. Consumer Demand for Convenience
        3. Technological Advancements
        4. Vehicle Customization Trends
        5. Urbanization and Traffic Congestion
      2. Restraints
        1. Cost Constraints
        2. Complex Installation and Maintenance
        3. Vulnerability to Damage
        4. Compatibility Issues
        5. Limited Retrofitting Opportunities
      3. Opportunities
        1. Integration of Smart Mirror Technologies
        2. Adoption of Electric and Hybrid Vehicles
        3. Stringent Emissions Regulations
        4. Technological Advancements
        5. Lightweight and Compact Design
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Automotive Electrically Adjustable Outside Rear View Mirror (ORVM) Market, By Type, 2020 - 2030 (USD Million)
      1. Smart Rear-View Mirrors
      2. Conventional Rear-View Mirrors
    2. Global Automotive Electrically Adjustable Outside Rear View Mirror (ORVM) Market, By Application, 2020 - 2030 (USD Million)
      1. Passenger Vehicles
      2. Commercial Vehicles
    3. Global Automotive Electrically Adjustable Outside Rear View Mirror (ORVM) Market, By Geography, 2020 - 2030 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Magna International Inc
      2. Gentex Corporation
      3. Ficosa International SA
      4. Samvardhana Motherson Group
      5. Murakami Corporation
      6. Sekurit Saint-Gobain
      7. SL Corporation
      8. Mitsuba Corporation
      9. Stoneridge, Inc
      10. Ichikoh Industries, Ltd
  7. Analyst Views
  8. Future Outlook of the Market