Truck Rearview Mirror Market is estimated to be US$ 20.8 billion by 2030 with a CAGR of 6.0% during the forecast period

Download Sample

Published Date: April 2024

Truck Rearview Mirror market accounted for US$ 11.9 billion in 2020 and is estimated to be US$ 20.8 billion by 2030 and is anticipated to register a CAGR of 6.0%. Rear-view mirrors, also known as smart rear-view mirrors, are a form of rear-view mirror with an integrated LCD display that offers a direct and enhanced view of the path or road behind the car. A rear-view mirror is an advanced technology that incorporates a camera (usually a high-resolution camera) that is integrated into the vehicle's rear end and projects the image on the rearview mirror's in-built LCD display. In order to ensure the safety of both the driver and the car, auto manufacturers are concentrating on rear-view mirror research and development.

The report " Truck Rearview Mirror Market, By Type (Exterior Mirrors, Interior Mirrors, and Under Rearview Mirrors), By Application (Heavy Truck and Light Truck), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030”

Key Highlights:

In Japan, Ficosa has teamed up with Panasonic to co-develop the interior rear-view mirror with Electronic Toll Collection (ETC) for automatic toll payment on highways for new BMW X5 models.
The Video Monitor System (CMS) camera, developed by Stoneridge in the United States, has been tested to replace mirrors in trucks and other commercial vehicles.

Analyst View:

Growing demand for vehicle safety systems to improve driver and vehicle safety is a key factor expected to propel the truck rear-view mirror market during the forecast period. Rear-view mirrors are designed to reduce and avoid vision blockage, allowing the driver to see clearly by displaying and projecting a panoramic view of the environment behind the car. This, in turn, is expected to boost the demand for automotive intelligent rear-view mirrors over the forecast period. Furthermore, it allows for good vision even in bad weather, which is another key factor expected to drive the rear-view mirror market during the forecast era.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Truck Rearview Mirror Market, By Type (Exterior Mirrors, Interior Mirrors, and Under Rearview Mirrors), By Application (Heavy Truck and Light Truck), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030”

Key Market Insights from the report:

Truck Rearview Mirror market accounted for US$ 11.9 billion in 2020 and is estimated to be US$ 20.8 billion by 2030 and is anticipated to register a CAGR of 6.0%. The Truck Rearview Mirror Market is segmented based on the type, application, and region.

By Type, the Truck Rearview Mirror Market is segmented into Exterior mirrors and Interior mirrors.
By Application, the Truck Rearview Mirror Market is segmented into heavy truck and light truck.
By Region, the Truck Rearview Mirror Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. During the forecast era, Asia-Pacific is expected to dominate the Truck rear-view mirror market.

Competitive Landscape:

The key players operating in the Truck Rearview Mirror Market include Magna International, Inc., SMR Builders Private Limited, Ficosa International SA, Ichikoh Industries, Ltd. , MIC, Inc., Gentex Corp., Thyssenkrupp Presta Fawer Changchun Co. Ltd. , Shanghai Matsuoka Fashion Co., Ltd., Beijing Gold-tide Biotechnology Co., Ltd. and Sichuan Tianhua Holding Co., Ltd.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

About Prophecy Market Insights

Prophecy Market Insights is specialized market research, analytics, marketing/business strategy, and solutions that offers strategic and tactical support to clients for making well-informed business decisions and to identify and achieve high-value opportunities in the target business area. We also help our clients to address business challenges and provide the best possible solutions to overcome them and transform their business.

Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period

Key Topics Covered