Automotive Power Folding Mirror Systems Market, By Type (Optical Thin Film, and Type II), By Application (Passenger Car, and Commercial Car), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034

Automotive Power Folding Mirror Systems Market was valued at US$ 5.7 billion in 2024 and is projected to grow at a CAGR of 7.5% to reach US$ 11.0 billion by 2034.

Autonomously retracting and extending the side mirrors of a vehicle with a single button press or via automated features, automotive power folding mirror systems provide drivers with enhanced convenience, safety, and interchangeability. A specialized switch positioned within the cabin or the vehicle's internal electronics are usually responsible for controlling an electric motor built into the mirror housing in these systems. In order to fold the mirror inward into the vehicle's body or outward for regular usage, the electric motor inside the mirror assembly contacts gears and mechanisms when it is turned on. Often, the system has limit switches or sensors to keep the mirrors from folding or unfolding too much, guaranteeing correct alignment and operation. Other capabilities included in some modern power folding mirror systems include automatic folding when the car is locked or unlocked, connection to the memory settings, and automated adjustment according to user preferences or driving circumstances. All things considered, car power folding mirror systems give drivers more convenience, better aerodynamics, and increased safety by letting them adjust the mirror position to suit their unique requirements and road circumstances.

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

Automotive Power Folding Mirror Systems Market Key Drivers:

Increased in demand for features loaded vehicles

The demand for personal, commercial, and other types of vehicles is rising due to factors including improving road connectivity, rising disposable incomes, and a rise in logistical operations. As a consequence, the Automobile Power Folding Mirrors Market is anticipated to expand during the projected years. The general public's ability to pay for high-quality products has increased as a result of rising disposable incomes. Additionally, accidents involving limited visibility and invisibility of the rear while driving have made many more people willing to invest in high-quality, safe vehicles, which is anticipated to fuel the growth of the Automotive Power Folding Mirror Systems Market in the upcoming years. Power folding mirrors in cars provide a number of benefits that improve drivers' comfort, safety, and usefulness, including improved aerodynamics, parking convenience, and enhanced maneuverability, protection from damage, customization, and safety.

For instance, in July 2022, according to LiveMint, SUVs and high-tech luxuries are becoming more and more popular among Indian automobile buyers. Top-end models with features like linked technology and sunroofs are increasingly chosen by consumers who are ready to pay more on their personal transportation in response to this growing demand. In the past five years, Indian automakers have introduced 36 models, and consumer preference for SUVs is growing.

Growing investment in research and development activities

Significant investment on R&D projects with the aim of cutting down the exorbitant cost of these cutting-edge mirror systems is expected to drive Automotive Power Folding Mirror Systems Market Forward in Coming Years. Automobile makers are substantially spending in R&D to provide affordable power folding mirror solutions as they work to satisfy consumer demand for cutting-edge features and increased convenience. In order to increase production efficiency and lower component prices, these expenditures are concentrated on improving manufacturing procedures, investigating substitute materials, and utilizing cutting-edge Application. Automakers may get economies of scale and efficiency advantages through innovative design, engineering, and manufacturing, which ultimately contribute to a reduction in the cost of power folding mirrors. Furthermore, power folding mirror systems' usefulness, dependability, and durability are all increased by developments in electrical components, sensors, and actuators, which raises the value offer for customers. As a result, the ongoing investment in R&D activities to cut down high prices of power mirrors serves as a key driver for Automotive Power Folding Mirror Systems growth, enabling broader adoption of these advanced mirror systems and driving innovation in the automotive industry.

Automotive Power Folding Mirror Systems Market Restrains:

The substantial expenses linked to installation and upkeep provide a major impediment to the growth of the Automotive Power Folding Mirror System Market. Although power folding mirrors are useful, safe, and convenient for drivers, some customers may find the initial expense of putting these systems in their cars to be too high. Power folding mirrors increase the initial cost of automobiles because of the intricacy of integrating electrical components, motors, and control systems into mirror assemblies. This raises the cost of manufacture and installation overall. Furthermore, compared to manual mirrors, power folding mirror systems may require more frequent maintenance and repairs due to the complex electrical components that may need specialist service.

Automotive Power Folding Mirror Systems Market is segmented based on Type, Application, and region.

 Type Insight

• Optical Thin Film: In automotive power folding mirror systems, optical thin films are utilized to enhance the performance or appearance of the mirrors. For example, anti-reflective coatings can be applied to reduce glare and improve visibility, especially during nighttime driving or when headlights from other vehicles are present.
• Type II: In Type 2 systems, the power folding mirrors are typically controlled electronically through switches or buttons located inside the vehicle's cabin. These systems often feature motors integrated into the mirror housing, allowing for automated folding and unfolding of the mirrors with the push of a button.

Application Insights

• Passenger Car: Power folding mirror systems in passenger cars offer significant benefits in terms of convenience, safety, and functionality. These systems allow drivers to electronically retract and extend their side mirrors with the push of a button or through automated functions. The importance of power folding mirrors lies in their ability to enhance maneuverability and reduce the risk of damage in tight spaces or crowded parking lots  
• Commercial Car: In commercial cars such as trucks and vans, where visibility is paramount for safe operation, power folding mirrors offer drivers the ability to retract the mirrors when navigating through narrow spaces or congested areas. This feature helps reduce the risk of mirror damage and improves maneuverability, especially in tight urban environments or loading docks.

Regional Insights:

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

Automotive Power Folding Mirror Systems Market Regional Insights

North America market is estimated to witness a significantly high revenue share over the forecast period, due to the region's increasing desire for high-end cars with adequate features and disposable income has made it easier for consumers to purchase pricey cars, propelling the Automotive Power Folding Mirror System Market to substantial expansion.

Asia Pacific market is estimated to witness fastest revenue share because of rising disposable incomes and investments in the area, which allow for the purchase of feature-loaded automobiles in some areas. Another element supporting the expansion of the automotive power folding mirror system market in the area is the high population density.  

Europe Market is estimated to generate high return on investment during forecasted years since Europe is one of the largest automotive exporters in the world and there are major automotive manufacturing companies in the area that specialize in producing high-spec automobiles.

Latin America is estimated to generate high revenue during forecasted years due to increasing investments by private firms and initiatives taken by government to promote healthcare industry with high end equipment can boost the demand for AI based tools in region.

Middle East & Africa. Is expected to witness fastest revenue in forecasted years due to presence of major players such UAE, Israel and south Africa with high investments to set up high end medical facilities. Due to prevalence of some chronic diseases in some regions of Africa major private firms and government institutes are investing in region which is expected to fuel demand for AI based tools that are used in healthcare.  

Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study, has segmented the Automotive Power Folding Mirror Systems Market report based on Type, Application and Region:

Automotive Power Folding Mirror Systems Market, By Type:

• Optical Thin Film
• Type II  

Automotive Power Folding Mirror Systems Market, By Application:

• Passenger Car
• Commercial Car  

Automotive Power Folding Mirror Systems Market, By Region:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Afric

The key players operating the Automotive Power Folding Mirror Systems Market includes, Ficosa International, Gentex Inc., Magna International, MURAKAMI Ltd., Samvardhana Motherson Ltd., SMR, MEKRA Lang, Ichikoh, Flabeg, and Shanghai Lvxiang

• Ficosa International *
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Gentex Inc.
• Magna International
• MURAKAMI Ltd.
• Samvardhana Motherson Ltd  
• SMR
• MEKRA Lang
• Ichikoh
• Flabeg
• Shanghai Lvxiang

“*” marked represents similar segmentation in other categories in the respective section.