Growth Opportunities in Global Automotive Mirror Market 2016-2021: Trends, Forecast, and Opportunity Analysis
Irving, TX -- (SBWIRE) -- 09/21/2016 -- According to a new market report published by Lucintel, the future of the global automotive mirror market looks promising with opportunities in the interior as well as exterior mirror market. The global automotive mirror market is expected to reach an estimated $9.0 billion by 2021. The global automotive mirror market is forecast to grow at a CAGR of 4.5% from 2016 to 2021. The major drivers of growth for this market are increasing vehicle production and increasing content of electronic technology in vehicles.
This report has 164 figures/charts and 56 tables spread through 202 pages
In this market, interior mirrors (basic, auto-dimming, and multi-functional) and exterior mirrors (basic, medium, premium, commercial, and auto-dimming) are the market segment by application type. On the basis of vehicle type, the market is segmented into passenger cars and commercial vehicles. On the basis of its comprehensive research, Lucintel forecasts that the interior mirror segment is expected to show above average growth during the forecast period.
Within the global automotive mirror market, the OEM segment is expected to remain the largest market. Increase in vehicle production and changes in the government policies are the major factors that would spur growth for this segment over the forecast period.
APAC is expected to remain the largest market due to its high volume of vehicle production and rising customer concerns about their safety and comfort.
Asia Pacific and the Rest of the World are expected to witness significant growth over the forecast period because of increasing penetration of auto-dimming mirrors in vehicles in developing countries because of recent government regulations on vehicular safety.
For business expansion, the report suggests innovation and new product development to enhance the driver's safety and to minimize the glare from the other vehicles. The report further suggests the development of partnerships with customers to create win-win situations and development of low-cost solutions for customers.
Emerging trends which have a direct impact on the dynamics of the industry include the introduction of hybrid full display mirror system and development of blind spot monitoring and cross path detection systems. Magna International Inc., Samvardhana Motherson Group, Gentex Corporation, Ficosa International, and Murakami Kaimeido are the major mirror suppliers in the global automotive mirror market. Several companies are seeking mergers and acquisitions as strategic initiatives to drive growth.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global automotive mirror market by application, end user, vehicle type and region, and has compiled a comprehensive research report entitled "Growth Opportunities in the Global Automotive Mirror Market 2016-2021: Trends, Forecast, and Opportunity Analysis." The Lucintel report serves as a springboard for growth strategy, as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the growth opportunities in the global automotive mirror market by application, end user, vehicle type and region, as follows:
By Application [Volume (Million Units) and $ billion from 2010 to 2021]:
By End-user [Volume (Million Units) and $ billion from 2010 to 2021]:
By Vehicle Type [Volume (Million Units) 2015 & 2021]:
By region [Volume (Million Units) and $ billion from 2010 to 2021]:
-Rest of the World
This 207-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link http://www.lucintel.com/global_automotive_mirror_market_2016_2021.aspx or firstname.lastname@example.org.
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the following key questions:
Q.1. What are some of the most promising, high-growth opportunities for the automotive mirror market by application (Interior mirror: basic, auto-dimming and multi-functional and exterior mirror: basic, medium, premium, commercial and auto-dimming mirrors, end-user (OEM and Aftermarket), vehicle type (Passenger Car, Commercial Vehicle), and region (North America, Europe, Asia Pacific, and Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers, challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by materials / product substitution?
Q.11. What M & A activity has occurred in the last 5 years and what is its impact on the industry?