Auto-Dimming Mirror Market

Global Auto-Dimming Mirror Market Size (2024 to 2032)

The global auto-dimming mirror market was valued at USD 1.88 billion in 2023 and is anticipated to reach a valuation of USD 1.98 billion in 2024 from USD 2.94 billion by 2032, growing at a CAGR of 5.10% from 2024 to 2032

An auto-dimming mirror avoids glares that are caused by the headlights of a tailing vehicle, improving the visibility of drivers to ensure safety. These mirrors come with sensors, which detect light from the headlights of trailing vehicles, which through electrochromic, eradicate the glare by darkening the mirror. These mirrors comprise various advanced sensors and electrochromic material, which absorbs and reflects light differently when an electric voltage is passed through it. However, the high cost compared to conventional mirrors hinders market growth.

Market Drivers

The rise in demand for advanced features, coupled with the surge in the automotive industry, propels the global auto-dimming mirror market growth. Besides, an increase in the need for safety in automobiles also boosts the development of the market. Furthermore, the development of cloud-based auto-dimming mirrors is foreseen to offer lucrative growth opportunities in the global auto-dimming mirror business.

Market Restraints

A key factor restraining the market's growth is the high installation expenditure and increasing demand for camera and display systems. The connected dimming mirror comprises complex interlinking of electronic systems. It also raises the overall price of the vehicle. If the conventional mirror breaks, it is convenient to replace and cost-effective. Moreover, if the camera and display systems become cheaper and adopted by the OEMs, this technology can hinder the market for auto-dimming mirrors and might make this technology obsolete in future years. Therefore, the high price involved and substitutes such as cameras and display systems are restraining the market's growth.

Impact of COVID-19 on Auto Dimming Market

The coronavirus pandemic had an immediate and critical impact on the globally integrated automotive industry. Symptoms include a disruption in Chinese parts exports, large-scale manufacturing interruptions across Europe, and assembly plants' closure in the United States. It is placing intense pressure on an industry already coping with a downshift in global demand, negatively impacting the global auto-dimming mirror market. Furthermore, transportation restrictions and supply chain disruptions have created a logistical ordeal for market players, leading to severe automotive product shortages globally.

REPORT COVERAGE

SEGMENT ANALYSIS

Global Auto-Dimming Mirror Market Analysis By Application

The outer mirror segment is the fastest-growing market during the forecast timeframe. The outer dimming mirrors' use is imperative in all types of vehicles. Passenger cars generally have two outer dimming mirrors. However, in LCVs, the number of outer dimming mirrors is higher than in passenger cars. Outer dimming mirrors often comprise features such as blind-spot detection and turn signal indicators. OEMs are increasingly offering these features in outer dimming mirrors.

Global Auto-Dimming Mirror Market Analysis By Functionality

The connected mirror is predicted to be the fastest-growing product in this market. Oppositely, the non-connected dimming mirror segment is estimated to be the largest shareholder. The demand for connected dimming mirrors is in the fast expansion stage. Leading OEMs provide the latest features in the auto-dimming mirror and are adopting connected dimming mirrors to gain a competitive advantage. While the connected dimming mirror market is supposed to expand at the highest rate, the non-connected mirror has the largest market size.

Global Auto-Dimming Mirror Market Analysis By Vehicle Type

The passenger vehicle segment is projected to grow the fastest during the forecast period. Future automobiles will need to satisfy stringent emission standards, and the best way to do it is with exciting technologies also to reduce accidental damage. Increasing production and demand for the passenger is growing much higher than in the previous period. Increasing consumption due to the better visibility property and rising popularity of rear-view mirrors with auto-dimming mirrors will create more market opportunities.

REGIONAL ANALYSIS

The Asia Pacific is estimated to control the market during the conjecture period. The region has emerged as a central automotive hub with most of the market share of vehicle production and sales. Almost every major automotive mirror manufacturer has a presence in the Asia Pacific region. The demand for auto-dimming mirrors is directly linked to vehicle production in this region. To cater to the increasing demand and capitalize on cost efficiencies, the companies involved in auto-dimming mirrors and their components have started concentrating on the Asia Pacific market. The area, being the largest market for automobiles, is estimated to witness a tremendous demand for auto-dimming mirrors in the coming years.

The market in North America is estimated to account for significant growth over the next ten years. The US market is a significant revenue source in the region due to increased vehicle manufacturing and the increasing installation of advanced vehicle features.

Europe's market is also expected to register a high growth rate over the next ten years as countries like the UK, Italy, and Germany have flourishing automotive industries.

KEY MARKET PLAYERS

Gentex (US), Samvardhana Motherson Reflectec (Germany), Magna (Canada), Ficosa (Spain), Murakami (Japan), Volkswagen (Germany), General Motors (US), Ford Motor (US). These are the market players that are dominating the global auto-dimming market.

RECENT HAPPENINGS IN THE GLOBAL AUTO DIMMING MARKET

• In November 2019, Gentex Corporation launched three new products at the SEMA Show 2019. A brand-new auto-dimming mirror was also launched along with these products, equipped with a cloud-based home automation system and integrated the HomeLink button capable of operating through radiofrequency.
• According to the India Brand Equity Foundation (IBEF), India's automotive industry was ranked 4th globally, with 4.02 million units sold in 2017. Automobile exports grew by 14.5% from 2018 to 2019 and are estimated to grow at a CAGR of 3.05% from 2016 to 2026.

DETAILED SEGMENTATION OF THE GLOBAL AUTO DIMMING MARKET IS INCLUDED IN THIS REPORT

This research report on the global auto dimming market is segmented and sub-segmented into the following categories.

By Application

• Inside Mirror  
• Outside Mirror

By Functionality

• Connected     
• Non-Connected

By Vehicle Type

• Passenger Vehicles   
• Commercial Vehicles

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa