Key players in the auto-dimming mirrors market are Ficosa International SA (Panasonic Corporation), Flabeg Automotive Glass Group GMBH, Gentex Corporation, Honda Lock Mfg. Co.Ltd. (Honda Motor Company Ltd.), Konview Electronics Corporation Limited, Magna International Inc.
NEW YORK, Sept. 22, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the Auto-Dimming Mirror Global Market Report 2022 – https://www.reportlinker.com/p06317652/?utm_source=GNW
Murakami Corporation, Shenzhen Germid Co., Samvardhana Motherson Group, Tokairika Co. Ltd., SL Corporation, Ichikoh Industries Ltd., Metagal Industria E-commercio Ltd., Fuyao Glass Industry Group Co. Ltd., Dura Automotive Systems, Webasto SE, and Glas Troesch Holding AG.
The global auto dimming mirror market is expected to grow from US$1.82 billion in 2021 to US$1.98 billion in 2022 at a compound annual growth rate (CAGR) of 8.5%. The auto dimming mirror market is projected to reach US$2.41 billion in 2026 at a CAGR of 5%.
The auto-dimming mirror market consists of the sale by companies (organizations, sole proprietorships and partnerships) of auto-dimming mirrors used to improve night-time visibility and safety while driving. Auto-dimming mirrors consist of a mirror and an electronic system that uses photo sensors to detect light from the front and rear.
These mirrors can darken the light reflected from their surface, significantly reducing glare from following vehicles on busy routes at night.
The main fuel types in the auto-dimming mirror markets are internal combustion engines, hybrids and electric vehicles. The internal combustion engine (ICE) refers to the ignition and combustion of fuel that takes place within the engine itself.
The engines convert the energy from combustion into work. The engine consists of a fixed cylinder and a moving piston.
The various vehicle types include passenger and commercial vehicles and include multiple features such as linked auto-dimming mirrors and non-linked auto-dimming mirrors. The various applications include the interior rear view mirror and the exterior rear view mirror.
Asia Pacific was the largest region in the auto dimming mirror market in 2021. North America is projected to be the fastest growing region during the forecast period.
Regions covered in Auto Dimming Mirrors market report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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The upswing in the automotive industry is expected to fuel the growth of the auto dimming mirror market. The automotive industry refers to the design, development, and manufacture of motor vehicles.
These mirrors are used in vehicles to reduce glare from light coming from other vehicles, thus preventing driver distraction. According to the India Brand Equity Foundation, a government export agency based in India, automobile sales in India increased by 5.8% in May 2022, representing 18.49 million units, compared to 17.47 million units in 2020. Also sold the premium automotive industry in December 2021 2,259 units, an increase of 19.7% compared to 2020. Therefore, the growth of the automotive industry is driving the growth of the auto dimming mirror market.
Technological innovations have emerged as a key trend gaining popularity in the auto dimming market. Large companies operating in the auto dimming sector focus on introducing new technologies to maintain their position in the market.
For example, in August 2019, Gentex, a US-based company that designs, engineers, and manufactures auto-dimming rearview mirrors, released the latest version of its HomeLink car-to-home automation system, which works with Bluetooth controls on a variety of radio frequencies using the cloud-based home automation technology that makes up the system.
In addition, the company has created an app that enables cloud-based device operation.
In October 2021, Motherson Sumi Systems Limited, an India-based automotive components manufacturer, acquired Nanchang JMCG Mekra Lang Vehicle Mirror for an undisclosed amount. This acquisition would help SMR Group expand into the commercial vehicle category.
It would also allow SMR to explore additional prospects for expansion in this region and strengthen the company’s presence in a growing market. Nanchang JMCG is a China-based manufacturer of automotive mirrors.
The countries covered in the Auto Dimming Mirrors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and US.
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