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

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: Rn469755509 Published Date: May, 2024 Updated Date: June, 2024

Introduction

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

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

The global automotive electrically adjustable outside rear-view mirror (ORVM) market is experiencing robust growth driven by the increasing integration of advanced safety and convenience features in modern vehicles. Electrically adjustable ORVMs have become a standard fixture in automotive design, offering drivers enhanced visibility and control over their surroundings while driving. These mirrors can be adjusted electronically from within the vehicle, allowing for quick and precise customization of the mirror position to optimize visibility, minimize blind spots, and improve overall driving safety.

One of the primary factors propelling the expansion of the global automotive electrically adjustable ORVM market is the growing emphasis on road safety and accident prevention measures. Electrically adjustable ORVMs provide drivers with the ability to adjust the mirror position effortlessly, enabling them to obtain a clear view of nearby vehicles, pedestrians, and obstacles. By enhancing driver visibility and awareness, these mirrors contribute to mitigating the risk of accidents during lane changes, parking maneuvers, and reversing, thereby bolstering overall road safety. As regulatory standards for vehicle safety continue to evolve worldwide and consumer demand for advanced safety features escalates, automotive manufacturers are increasingly incorporating electrically adjustable ORVMs into their vehicle designs.

Technological advancements in automotive engineering are driving innovation in electrically adjustable ORVMs, leading to the development of more sophisticated and feature-rich mirror systems. Manufacturers are integrating additional functionalities such as automatic folding, heating, auto-dimming, and integrated turn signals into electrically adjustable ORVMs, enhancing their functionality and convenience for drivers. Additionally, the integration of advanced sensor technologies and connectivity features enables smart functionalities like blind-spot detection and collision avoidance, further elevating the appeal of electrically adjustable ORVMs. With automotive manufacturers striving to differentiate their vehicles and enhance the overall driving experience, the demand for electrically adjustable ORVMs is poised to witness steady growth across various vehicle segments globally.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Application
    2. Market Snapshot, By Region
  4. Global Automotive Electrically Adjustable Outside Rear View (ORVM) Mirror Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Increasing Focus on Vehicle Safety
        2. Consumer Demand for Convenience Features
        3. Regulatory Mandates
        4. Technological Advancements
        5. Increasing Vehicle Sales
      2. Restraints
        1. Cost Constraints
        2. Complexity and Reliability Concerns
        3. Maintenance and Repair Costs
        4. Compatibility Issues
        5. Power Supply Dependence
      3. Opportunities
        1. Integration of Advanced Safety Features
        2. Expansion of Electric and Hybrid Vehicle Market
        3. Customization and Personalization
        4. Integration with Advanced Connectivity Features
        5. Adoption of Smart Mirror Technologies
    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 (ORVM) Mirror Market, By Application, 2020 - 2030 (USD Million)
      1. Passenger vehicles
      2. Commercial vehicles
    2. Global Automotive Electrically Adjustable Outside Rear View (ORVM) Mirror 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. Ficosa International SA (Panasonic Corporation)
      3. Samvardhana Motherson Group (SMG)
      4. Gentex Corporation
      5. Murakami Corporation
      6. Valeo SA
      7. Mitsuba Corporation
      8. SL Corporation
      9. Honda Lock Manufacturing Co., Ltd
      10. Stoneridge, Inc
  7. Analyst Views
  8. Future Outlook of the Market