Automotive Electrically Adjustable Outside Rear View Mirror Market Size

The global automotive electrically adjustable outside rear view mirror market size was valued at USD 3 billion in 2023 and is projected to grow at a CAGR of 14.9% between 2024 and 2032. One key growth driver of the market is the rising demand for vehicle safety and convenience features. Consumers increasingly expect advanced functionalities like auto-dimming, heating, and integrated cameras, which enhance visibility and driver comfort.

Additionally, government regulations focused on road safety are pushing automakers to adopt more sophisticated mirror technologies. This trend is particularly evident in regions with strict safety standards, such as North America and Europe. The integration of these features in mid-range and premium vehicles further accelerates market growth.

For instance, according to GMI, Automotive Active Safety Systems Market size was valued at USD 145.3 billion in 2023 and is estimated to register a CAGR of over 13% between 2024 and 2032. This surging demand for active safety systems in vehicles in pushing automotive OEMs to integrate advanced exterior rear view mirrors, there fueling the market growth.

The growth of the automotive industry in emerging markets is another driver for the electrically adjustable outside rear view mirror market. As vehicle production and sales rise in regions like Asia-Pacific and Latin America, there’s an increasing demand for enhanced vehicle features, including advanced mirror systems. Economic growth and rising disposable incomes in these regions enable consumers to opt for vehicles with modern safety and convenience technologies. This expansion in demand supports the growth of the market globally.

Automotive Electrically Adjustable Outside Rear View Mirror Market Trends

The shift towards digital display modes in this market is driven by the need for enhanced visibility and safety. Digital rearview systems provide a wider, unobstructed view, reducing blind spots and improving situational awareness, especially in challenging driving conditions. They offer adaptability by switching between traditional mirror and display modes, making them versatile for drivers. Advanced features, such as night vision and integration with other ADAS (Advanced Driver Assistance Systems), further enhance driver confidence. Additionally, digital mirrors support the trend towards sleek, aerodynamic vehicle designs by eliminating bulky side mirrors in some cases.

For instance, in June 2023, Peugeot Sport has partnered with Gentex Corporation to equip its 9X8 Hybrid Hypercar with an advanced digital rearview mirror for the 24 Hours of Le Mans and the FIA World Endurance Championship. This Gentex Full Display Mirror (FDM) system enhances the driver’s visibility by streaming video from a rear-facing camera to an LCD display integrated into the mirror, helping drivers maintain situational awareness during high-speed endurance races.

Driver Gustavo Menezes noted its benefits in reducing blind spots, improving safety in traffic. This technology, also available in passenger vehicles, can switch between standard mirror and digital display modes.

One major challenge in the automotive electrically adjustable outside rear view mirror market is the rapid pace of technological advancements. Manufacturers must continuously innovate to keep up with evolving consumer expectations for features like automatic dimming, blind-spot detection, and integrated cameras. This necessitates significant investment in research and development, which can strain resources, especially for smaller companies. Additionally, the challenge of ensuring compatibility with various vehicle models and electrical systems complicates production processes. The need for ongoing training and skill development for personnel further adds to operational costs.

Automotive Electrically Adjustable Outside Rear View Mirror Market Analysis

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Based on vehicle type, the market is segmented into passenger and commercial vehicles. In 2023, the passenger vehicle segment accounted for over 75% of the market share and is expected to exceed USD 6 billion by 2032. The passenger segment dominates the automotive electrically adjustable outside rear view mirror market primarily due to the increasing consumer demand for enhanced comfort and convenience features in personal vehicles.

As more drivers seek customizable mirror positions for better visibility, the electrically adjustable mirrors have become standard in many new car models. Additionally, the growing trend towards luxury vehicles, which often come equipped with advanced mirror technologies, further boosts this segment. Rising disposable incomes also enable consumers to invest in higher-end vehicles that include these features. Furthermore, safety regulations promoting better visibility contribute to the growing adoption of electrically adjustable mirrors in passenger cars.

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Based on the propulsion, the automotive electrically adjustable outside rear view mirror market is divided into ICE and electric vehicles. The ICE segment held more than 80% of the market share in 2023 but electric vehicles are observing higher growth rate. Internal Combustion Engine (ICE) vehicles continue to dominate the automotive market due to their established infrastructure, widespread availability, and lower initial purchase costs compared to electric vehicles (EVs). Many consumers still prefer ICE vehicles for their familiarity and the extensive network of fueling stations.

However, the electric vehicle segment is rapidly gaining market share, driven by advancements in battery technology, which have improved driving ranges and reduced charging times. Increasing environmental awareness and government incentives promoting EV adoption are also significant factors contributing to this shift. Moreover, automakers are investing heavily in electric vehicle production and expanding their EV offerings to meet changing consumer preferences. As charging infrastructure continues to develop and expand, the convenience of owning an EV is expected to improve, further accelerating its market growth.

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China accounted for an automotive electrically adjustable outside rear view mirror market share in 2023 and is expected to exceed USD 2 billion by 2032. First, the country's massive automotive industry is the largest in the world, leading to high demand for various vehicle components, including mirrors. Additionally, China's rapid urbanization and increasing disposable income have driven a surge in vehicle ownership, enhancing the need for advanced features like electrically adjustable mirrors.

The government also plays a pivotal role by implementing policies that encourage the adoption of advanced automotive technologies, including support for electric vehicles (EVs) that often come with upgraded mirror systems. Furthermore, numerous domestic manufacturers are investing in research and development, allowing them to produce high-quality products at competitive prices. This combination of demand, policy support, and local manufacturing capabilities solidifies China's position as a leader in this market.

The North American automotive electrically adjustable outside rear view mirror market is characterized by a strong demand for advanced vehicle safety features and comfort enhancements. With a significant focus on innovation, manufacturers are increasingly integrating technologies like blind-spot detection and camera systems into their mirror designs. The region is home to major automotive manufacturers and suppliers, fostering a competitive landscape that drives continuous improvement. Additionally, growing consumer awareness regarding vehicle aesthetics and functionality is further propelling market growth. Government regulations aimed at improving vehicle safety standards also contribute to the increased adoption of these advanced mirror systems

In Europe, the automotive electrically adjustable outside rear view mirror market is experiencing substantial growth, driven by stringent safety regulations and a strong emphasis on sustainability. The region's commitment to reducing carbon emissions and promoting electric vehicles has led to a rising demand for advanced mirror technologies that enhance visibility and integrate seamlessly with EVs. European consumers are increasingly seeking premium features in their vehicles, such as automatic dimming and adaptive mirrors, which are fueling market expansion.

Additionally, numerous manufacturers are investing in research and development to offer innovative solutions that cater to evolving consumer preferences. The competitive landscape is marked by collaboration between automotive companies and technology providers, enhancing the overall product offerings in the market.

Automotive Electrically Adjustable Outside Rear View Mirror Market Share

Gentex Corporation, Ficosa International, and Magna International collectively held over 48% of the market share in the automotive electrically adjustable outside rear view mirror (ORVM) industry in 2023. The competitive landscape of the automotive electrically adjustable outside rear view mirror market is characterized by a mix of established players and emerging companies, each striving for innovation and market share.

Major automotive manufacturers, such as Ficosa, Gentex, and Magna, lead the market by investing heavily in research and development to integrate advanced technologies like adaptive mirrors and smart features. These companies are shaping the market by prioritizing safety, aesthetics, and functionality, thereby meeting consumer demands for enhanced visibility and comfort.

Additionally, the rise of electric vehicles has prompted competitors to develop mirror solutions that align with the unique needs of EVs, such as lightweight designs and integrated cameras. Collaborations and partnerships with tech firms are also becoming common as manufacturers seek to leverage cutting-edge technologies, including artificial intelligence and IoT. This dynamic environment fosters continuous improvement and pushes the boundaries of mirror technology, ultimately driving growth in the market.

Automotive Electrically Adjustable Outside Rear View Mirror Market Companies

Major players operating in the automotive electrically adjustable outside rear view mirror (ORVM) industry are:

• Continental
• Denso
• Ficosa
• Gentex
• Hitachi
• Honda
• Magna
• Mekra
• Robert Bosch
• Valeo
  

Automotive Electrically Adjustable Outside Rear View Mirror Industry News

• In March 2024, Uno Minda has launched a new range of four-wheeler electrically adjustable outside rear view mirrors in the Indian market, aimed at enhancing road visibility for drivers. The mirrors feature shatterproof, high-quality convex glass and are designed to meet recommended standards for compatibility and optimal performance across various vehicle models. This product emphasizes durability and crack resistance under normal conditions. This move reflects the growing demand for safer driving experiences among consumers.
  
• In June 2023, Peugeot Sport has partnered with Gentex Corporation to equip its 9X8 Hybrid Hypercar with an advanced digital rearview mirror for the 24 Hours of Le Mans and the FIA World Endurance Championship. This Gentex Full Display Mirror (FDM) system enhances the driver’s visibility by streaming video from a rear-facing camera to an LCD display integrated into the mirror, helping drivers maintain situational awareness during high-speed endurance races. Driver Gustavo Menezes noted its benefits in reducing blind spots, improving safety in traffic. This technology, also available in passenger vehicles, can switch between standard mirror and digital display modes.
  

The automotive electrically adjustable outside rear view mirror (ORVM) market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue ($ Mn/Bn) and Volume (Units) from 2021 to 2032, for the following segments:

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Market, By Technology

• Electrically adjustable mirrors
• Heated mirrors
• Auto-Dimming mirrors
• Integrated camera mirrors

Market, By Vehicle

• Passenger vehicles
  • Hatchback
  • Sedan
  • SUV
• Commercial vehicles
  • Light Commercial Vehicles (LCV)
  • Heavy Commercial Vehicles (HCV)

Market, By Propulsion

• ICE
• Electric vehicles
  • Battery Electric Vehicles (BEV)
  • Plug-in Hybrid Electric Vehicles (PHEV)
  • Hybrid Electric Vehicles (HEV)

Market, By Sales Channel

• OEM
• Aftermarket

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Nordics
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • ANZ
  • Southeast Asia
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • UAE
  • Saudi Arabia
  • South Africa