Automotive Electrically Adjustable Outside Rear View Mirror (ORVM) Market Revenue was valued at USD 1.5 Billion in 2024 and is estimated to reach USD 3.2 Billion by 2033, growing at a CAGR of 9.5% from 2026 to 2033.
The global Automotive Electrically Adjustable Outside Rear View Mirror (ORVM) market was valued at approximately USD 6.2 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 8.3% from 2023 to 2030. North America held a significant share of the market in 2022, contributing nearly 30% of the total market value, driven by increased adoption of advanced automotive features in the region. The Europe region followed closely with a market share of 25%, fueled by stringent regulations for vehicle safety and comfort, as well as growing demand for electric vehicles (EVs). Asia Pacific, particularly China and Japan, is expected to witness the highest growth rate, driven by the rapidly expanding automotive industry and the rising demand for electric and autonomous vehicles, with a projected CAGR of 9.1% during the forecast period.
In terms of regional opportunities, the Asia Pacific region offers substantial growth potential due to the increasing automotive production in emerging economies such as India and China. The growing demand for EVs, along with government initiatives supporting the electric vehicle infrastructure, will further drive the demand for advanced automotive components such as electrically adjustable outside rear view mirrors. In North America, the market is expected to remain robust due to the high penetration of premium and luxury vehicles that often include such features. Additionally, the market in Europe is set to grow due to the emphasis on innovation in automotive technology, with an increase in consumer demand for safety, comfort, and sustainability. These factors present significant opportunities for growth in the ORVM sector across various regions.
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Samvardhana Motherson Reflectec
Magna International
Gentex
Ficosa
Murakami Kaimeido
Mitsuba
MEKRA Lang
SL Corporation
Ichikoh Industries
Flabeg
Shanghai Lvxiang
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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. 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 Electrically Adjustable Outside Rear View Mirror (ORVM) Market
Standard ORVMs
Heated ORVMs
Folding ORVMs
Electromagnetic ORVMs
With Integrated Turn Signal
Conventional Electric Adjustment
Sensor-Based Adjustment
Smart Mirrors with Camera Integration
Adaptive Mirrors with Auto-Dimming Features
Bluetooth and Connectivity Features
PASSEENGER CARS
SUVs and Crossovers
Commercial Vehicles
Electric and Hybrid Vehicles
Luxury Vehicles
OEM (Original Equipment Manufacturer)
Aftermarket
eCommerce Platforms
Authorized Dealerships
Specialty Automotive Stores
Manual Control
Power Control with Memory Function
Integrated Cameras for Rearview Assistance
Built-in Heating Elements
Anti-glare and UV Protection Technology
US (United States, US 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 Electrically Adjustable Outside Rear View Mirror (ORVM) 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 Electrically Adjustable Outside Rear View Mirror (ORVM) Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Automotive Electrically Adjustable Outside Rear View Mirror (ORVM) Market, By Type
6. Global Automotive Electrically Adjustable Outside Rear View Mirror (ORVM) Market, By Application
7. Global Automotive Electrically Adjustable Outside Rear View Mirror (ORVM) Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Automotive Electrically Adjustable Outside Rear View Mirror (ORVM) Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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