An
up-to-date intelligence study by Transparency Market Research (TMR)
has detected that the global automotive rear view mirror market is
marked by technological advancements and the presence of a large
number of players, who are making the competitive landscape
distributed. Having said that, a few vendors do hold a position of
strength in the global automotive rear view mirror market, such as
Gentex Corporation, Samvardhana Motherson, Magna International,
Murakami, and Ficosa, whereas some of the other promising players are
Honda Lock Manufacturing, FLABEG, Ichikoh Industries Ltd., SL
Corporation, Lumax Automotive Systems Ltd, Burco Inc., Flabeg
Automotive Holding GmbH, Valeo SA, Continental AG, Sakae Riken Kogyo
Co., Ltd., Tokai Rika, and Metagal Industria e Comercio.
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Among
these, Gentex currently has a good hold over the automotive rear view
mirror market, which is a reflection of its innovations and strategic
acquisitions. The company was the first one to introduce
electromechanical auto dimming mirrors and had recently acquired
Homelink from Johnson Controls. The company offers cost-efficient
products that meet all the advanced features of display and safety,
such as microphones, display, antennas, and cameras. Gentex currently
caters to various leading players of the automotive industry,
including Audi, Ford Motor Company, BMW, GM, Fiat Automobiles, and
Rolls-Royce.
As
per the evaluations of the TMR report, the global automotive
rear view mirror market was worth US$8.96 bn in 2017. The demand
is projected to increment at a CAGR of 4.4% during the forecast
period of 2017 to 2022 to reach an estimated global worth of US$11.13
bn by 2022. Product-wise, in 2017, the flat mirror segment accounted
for 27.9% of the overall demand and is expected remain the dominant
segment throughout the forecast period. Geographically, North America
and Europe are two most profitable regions, although the region of
Asia Pacific except Japan (APEJ) is projected for the most robust
growth rate.
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