Global Automotive Mirror Market Segment and Competition: Market Size Growing at a CAGR of 3.25% from 2024 to 2029

Global Automotive Mirror Market Overview

According to Global Market Monitor, the global automotive mirror market size will reach $5307.15 million in 2024 with a CAGR of 3.25% from 2024 to 2029.An automotive mirror is mounted on the side, windshield, or instrument panel of an automobile or other vehicle to provide the driver with a view of the area behind the car.   

Rising Vehicle Production Affects Market Demand.

The overall growth in the automotive industry, including the production of passenger cars, commercial vehicles, and electric vehicles, directly influences the demand for automotive mirrors. Higher vehicle production leads to increased mirror manufacturing. Growing urbanization and traffic congestion in many regions increase the need for improved visibility and safety features, driving the demand for mirrors with advanced functionalities. As vehicle production increases, there is a higher demand for original equipment manufacturer (OEM) mirrors. Automakers require mirrors for every vehicle they produce, including passenger cars, trucks, and commercial vehicles. This sustained demand drives the production and sale of automotive mirrors. This contributes to the automotive mirror market growth.

Regional Market

North America has the largest market share of industrial automotive mirrors, as countries in the region have one of the largest automotive industries in the world, including the production of a wide range of vehicles from passenger cars to trucks and SUVs. The size and diversity of the automotive industry in the region have created a huge demand for automotive rear-view mirrors.

The United States has one of the highest rates of car ownership per capita in the world, and with millions of cars on the road, there is an increasing demand for automotive mirrors, whether original equipment for new cars or replacement mirrors for existing vehicles. North America has strict safety regulations, especially those set by the National Highway Traffic Safety Administration. These regulations require vehicles to be equipped with mirrors that meet specific safety standards, driving the demand for compliant mirrors. North American consumers typically adopt advanced automotive technology, including advanced driver assistance systems (ADAS). These systems typically feature advanced rearview mirrors with features such as blind spot monitoring and integrated cameras.

In addition, in the medium term, the production of vehicles with integrated ADAS capabilities will continue to grow as passenger awareness of comfort and safety continues to increase, and government regulations mandating safety features are expected to drive market demand. The automotive interior mirrors market is facing intense competition from new camera technologies in the passenger car segment. Leading automotive OEMs and interior mirror manufacturers are integrating cameras with traditional mirrors to provide a better driver view.

Samvardhana Motherson Grou	Interior Mirror,Exterior Mirror
Magna International Inc	Interior Mirror,Exterior Mirror
Gentex Corporation	Interior Mirror,Exterior Mirror
ICHIKO INDUSTRIES, LTD.	Interior Mirror,Exterior Mirror
Murakami Corporation	Interior Mirror,Exterior Mirror
SL Corporation	Interior Mirror,Exterior Mirror
Ficosa International SA	Interior Mirror,Exterior Mirror
MEKRA Lang North America	Interior Mirror,Exterior Mirror

Table: Automotive Mirror Product Type by Player