Automotive Mirror Dimming Market Share

Automotive Mirror Dimming Market Scenario

Automotive mirror dimming market size is expected to grow USD 1,970 million at a 5.4% CAGR during the forecast period 2024 - 2030. Global automotive mirror dimming market has witnessed gradual growth in recent years and is expected to grow steadily in the forecast period. The global market of Auto mirror dimming is primarily driven by increasing awareness about vehicle and passenger safety. 

The safety of passengers and vehicles has become the prime concern of vehicle buyers. According to the global status report on road safety 2015, more than 1.2 million road traffic deaths occur each year, globally. To reduce these accidents, OEMs (Original Equipment Manufacturers) are integrating different safety features in automotive mirrors. This integration of safety features is expected to drive the automotive mirror dimming market.

Key Players

The key players of global automotive mirror dimming market are Gentex Corporation (U.S), Samvardhana Motherson Group (India), Magna International Inc. (Canada), Ficosa International S.A. (Spain), Ichikoh Industries, Ltd. (Japan), Murakami Corporation (Japan), TOKAIRIKA, CO, LTD. (Japan), SL Corporation (South Korea), Honda Lock Mfg. Co., Ltd. (Japan), FLABEG Automotive Holding GmbH (Germany), Global Media Industry Group Co. (China)  and Konview Electronics Corporation Limited. (China).

Market Segmentation

Global automotive mirror dimming market has been segmented based on fuel types, applications, vehicle types, functionalities and regions. Based on fuel types the market is segmented as battery electric vehicle (BEV), internal combustion engine (ICE) and hybrid vehicle. Battery electric vehicle is expected to grow at the highest rate due to increase in production of new electric vehicle, across the globe. Based on applications, the market is segmented as inside rear-view mirror (IRVM), and outside rear-view mirror (ORVM). Inside rear-view mirror (IRVM) is expected to have the highest share of the global market owing to its growing application, in all types of vehicles. Based on functionalities the market is segmented as connected and non-connected. Connected auto dimming mirrors stand for dimming mirrors integrated with various other features to provide safety and convenience to drivers while driving. Based on vehicle type the market is segmented as passenger vehicle and commercial vehicle. Passenger vehicle is expected to hold the highest share in global market due to rise in the sales of passenger vehicle.

Regional Analysis

The global automotive mirror dimming market is expected to witness a phenomenal growth during the forecast period. This is due to development of automotive manufacturing industries in developing economies such as China and India. Availability of low-cost automation in manufacturing and innovation in engineering, focus on fuel efficiency and sustainability, and the rising vehicle production levels, drive the market of Auto mirror dimming. The Asia Pacific region is currently the leading region in global market and is followed by Europe and North America.

Automotive Mirror Dimming Market Industry Development: 

January 2024: Renault India has launched the all-new Renault Kiger, Kwid and Triber. All the three cars have been upgraded with some aesthetic changes, additional trims, new color options, novel features and more. The new range offers over ten added functionalities and five extra versions for three models.

Moreover, turbo-petrol variants of the Kiger SUV have puddle lamps, an auto-dimming inside rearview mirror, LED cabin lights and red brake callipers. Moreover, RXT(O) gets automatic climate control and powered ORVMs, while RXZ trim gets cruise control. For engines, one can choose between a 1.0-litre, 3-cyl NA Petrol and a 1.0-litre, 3-cyl turbo petrol. Gearbox choices are a five-speed manual AMT or CVT.

The 2024 Triber is also updated with additional features like a driver’s seat armrest, powered ORVMs, a seven-inch digital instrument cluster, a wireless charger, LED cabin lights, and a black exterior paint job, to mention but a few. Additional features in the Triber RXT variant include a rear camera and rear wiper, while the RXL variant has second/third row dedicated AC control/vents, respectively. Further, now all variants also come fitted with a PM2.5 air filter along with a rear seatbelt reminder.

Renault India announced the Renaulution 2024 initiative at its event today, where it introduced the brand-new models it manufactures in India as part of its Make In India strategy. The strategy aims to promote local production of goods within the country in order to reduce imports, thereby improving the national economy regarding the balance of trade, among other factors. This is in addition to the recent €3 billion investment that will be made across four regional hubs outside Europe, including India.The firm plans to bring out five different vehicles by the end of next year, which comprise entirely new products and updated Kiger and Triber.

Market Scope

Automotive mirror dimming augments the safety and ease of the driver, as they do not require the driver to adjust the inside rear-view mirror (IRVM) and outside rear-view mirror (ORVM). Auto-dimming mirrors can control the movement of the rear-view mirror at various speeds when the system is switched on. Improvement in the technological advancement, rise in production of vehicles, and increase in demand for luxury features, are the key factors that drive the market. Implementation of Auto mirror dimming, is driven by the rise in use of advanced electrical features in vehicles. However, their demand has increased due to rise in the number of road accidents, across the world. The overall cost of vehicles has increased due to the integration of advanced electrical feature, which acts as a restraint to the market.