Automotive Exterior Mirror Market was valued at USD 5.2 Billion in 2022 and is projected to reach USD 7.8 Billion by 2030, growing at a CAGR of 6.5% from 2024 to 2030.
The global automotive exterior mirror market has experienced substantial growth between 2018 and 2022, driven by the increasing demand for advanced vehicle safety technologies and rising consumer preferences for enhanced vehicle aesthetics. The market has seen a shift towards smart mirrors, which incorporate features like integrated cameras, sensors, and displays for improved driver assistance systems (ADAS). Additionally, the trend toward electric vehicles (EVs) and autonomous vehicles has further bolstered the market, as these vehicles require high-quality exterior mirrors with advanced functionalities. These trends have shaped the market outlook, with a steady increase in adoption expected throughout the 2020s.
As we look to the future, the automotive exterior mirror market is poised for continued growth from 2023 to 2033. The demand for mirrors equipped with smart technology, such as digital and camera-based systems, is expected to rise significantly. This can be attributed to the automotive industry's ongoing focus on enhancing safety features and vehicle performance. Furthermore, the market is expected to witness a surge in demand from emerging economies, where the adoption of modern vehicles with advanced features is on the rise. By 2030, the shift from traditional mirrors to camera-based systems is expected to become a key trend, driven by the push for improved aerodynamics and reduced weight in vehicle design.
Globally, the increasing consumer awareness of vehicle safety and the growing adoption of autonomous driving technologies are expected to contribute to a rise in demand for automotive mirrors with advanced capabilities. This includes features such as lane-keeping assist, blind-spot monitoring, and 360-degree vision. The market is also being influenced by environmental factors, with manufacturers focusing on producing mirrors with sustainable materials to reduce the carbon footprint of vehicle production.
The market dynamics from 2023 to 2033 will largely be shaped by regulatory measures aimed at improving vehicle safety, coupled with consumer preference for innovative technologies. In particular, the European Union’s stringent safety standards and the rise of self-driving cars in the U.S. are likely to influence mirror technologies. Major manufacturers are expected to capitalize on these trends by investing in R&D to develop next-generation automotive exterior mirrors that align with the future demands of the automotive market.
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Magna
Murakami Kaimeido
Samvardhana Motherson
Gentex
Ichikoh
Ficosa
Tokai Rika
MEKRA Lang
Beijing GoldRare Automobile Parts Co.
Ltd.
Changchun FAWAY Automobile Components Co.
Ltd.
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Automotive Exterior Mirror Market
Passenger Car
Commercial Vehicles
Based on Types the Market is categorized into Below types that held the largest Automotive Exterior Mirror market share In 2023.
Spherical Mirror
Aspheric Mirror
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Automotive Exterior Mirror Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Automotive Exterior Mirror Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Automotive Exterior Mirror Market, By Type
6. Global Automotive Exterior Mirror Market, By Application
7. Global Automotive Exterior Mirror Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Automotive Exterior Mirror Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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