The global auto dimming mirror market size was US$ 1,910.4 million in 2021. The global auto dimming mirror market size is forecast to reach US$ 2,514.6 million by 2030, growing at a compound annual growth rate (CAGR) of 3.1% during the forecast period from 2022 to 2030.
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An auto-dimming mirror reduces or completely gets rid of any glare brought on by a car that is behind you, giving you better visibility to drive safely. These mirrors have sensors that can detect the light from oncoming vehicles’ headlights and, using a technique called electrochromic, darken the mirror to eliminate glare. These mirrors are made of many cutting-edge sensors and electrochromic material, which when exposed to an electric current changes how it absorbs and reflects light. During the night or in low light, these sensors look for a brighter light source. They use a low-voltage power supply that is housed inside the mirrored interior to produce an electric charge when they notice a change in the brightness of the light.
The U.S. Bureau of Economic Analysis and the U.S. Census Bureau reports that the goods and services deficit rose from $68.7 billion in January 2023 to $70.5 billion in February, an increase of $1.9 billion. Due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion, the goods and services deficit increased in February. The goods and services deficit has decreased this year by $35.5 billion, or 20.3% when compared to the same period in 2022. $10.8% more, or $49.5 billion, was exported. Imports cost $2.2% more, or $14.0 billion, than exports.
Factors Influencing Market Growth
The increase in demand for advanced features and the growing automotive industry drive the global market.
The rise in the need for safety in automobiles boosts the global market growth.
The increased cost compared to conventional mirrors may slow down the overall market growth.
The growing production of cloud-based auto dimming mirrors is forecast to offer lucrative opportunities for the global market.
Impact Analysis of COVID-19
The COVID-19 pandemic had a negative impact on the global market. Several governments worldwide imposed a lockdown in order to curb the virus from spreading. This led to the closure of various manufacturing units owing to a lack of labor and raw materials.
The market can anticipate short-term relief as governments start to gradually ease lockdown norms and permit corporations to operate with mandates of social distance.
Regional Analysis
The Asia Pacific region garnered a substantial market share in 2021 and is forecast to remain dominant during the forecast period. As a result of the rising awareness about technological advances and the growing spending capacity of customers. In addition, the existence large automobile manufacturing and OEM base in countries such as India and Japan. Additionally, the increasing urbanization and the growing awareness regarding road safety.
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Leading Competitors
The leading prominent companies profiled in the global auto dimming mirror market are:
Ficosa Internacional SA
Flabeg Automotive Holding GMBH
Gentex Corporation
Honda Lock
Konview
Magna International Inc
Murakami Corporation
Shenzhen Germid Co., Ltd
Samvardhana Motherson Group
Tokairika, Co, Ltd
Other Prominent Players
Scope of the Report
The global auto dimming mirror market segmentation focuses on Application, Fuel Type, Functionality, Vehicle Type, and Region.
Segmentation based on Application
Inside Rear-View Mirror
Outside Rear-View Mirror
Segmentation based on Fuel Type
BEV
ICE
Others (Hybrid)
Segmentation based on Functionality
Connected Auto Dimming Mirror
Non-Connected Auto Dimming Mirror
Segmentation based on Vehicle Type
Passenger Cars
Light Commercial Vehicles
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Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
Key questions answered in the global market report are:
— How does a global company acquire markets?
— What are its core strategies and policies?
— What factors will influence the market over the forecast period?
— What are the factors driving and restraining the market?
— What are the leading competitors in the global market?
— Which region is growing at a higher pace in the global market?
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