LONDON--(BUSINESS WIRE)--Vehicle safety in terms of side-view visibility is evolving as an important focus for customers and vehicle manufacturers. There is a growing integration of advanced functionalities in automotive electrically adjustable ORVMs. With the integration of puddle lamps and mirrors with auto-fold function, these mirrors aid in improving vehicle convenience. Companies are also focusing on integrating electrically adjustable ORVMs with features such as heated mirrors and auto-tilt mirrors to improve their functionality. This focus on the integration of advanced features in electrically adjustable ORVMs will be a major factor in driving market growth. Furthermore, this industry research report also presents a competitive analysis of the market by applications (passenger vehicles and commercial vehicles) and geography (APAC, Europe, MEA, North America, and South America).
Competitive vendor landscape
The global automotive electrically adjustable outside rear view (ORVM) mirror market is highly competitive with major vendors such as Ficosa Internacional SA, Magna International Inc., Mitsuba Corp, Murakami Corporation, and Samvardhana Motherson Group. competing on the basis of price, quality, product/service offerings, and market presence.
“The automotive industry is undergoing a radical change in the form of electrification of vehicle components. Automotive electrically adjustable ORVMs have evolved in terms of design, positioning on the door, and functionalities offered. Also, the growing installation of OVRMs in passenger vehicles and the rising focus of governments towards upgrading transportation-related safety standards, is expected to drive the growth of automotive electrically adjustable ORVM market size,” says a senior analyst at Technavio
Top five automotive electrically adjustable outside rear view (ORVM) mirror market vendors
Ficosa Internacional SA
The company designs, manufactures, and distributes various original vehicle parts and systems. It operates through seven segments, rear view system, command, and control system, under hood systems, advanced communications, commercial vehicle, doors and seat systems, and others.
Under the rear-view systems segment, the company manufactures a range of exterior rear-view mirrors that consist of electronic or manual systems, power folding systems with memory and automatic return system, plus mirror demisters, temperature sensors, spherical glass, electro-chromatic glass, and antennas. It also offers exterior rearview mirrors made of carbon fibers and chrome, as well as in the same color as the bodywork.
Magna International Inc.
Magna International Inc. designs, develops, and manufactures automotive systems, assemblies, modules, and components. The company runs its operations through four segment, body exteriors and structures, power and vision, seating systems, and complete vehicles.
Under the body exteriors and structures segment, the company offers automotive interior mirrors, exterior mirrors, and actuators.
Mitsuba Corp
Mitsuba Corporation manufactures and sells automotive electronic components. The company operates through three segments, transportation equipment-related operations, information service operations, and others. The company’s offerings include turn signal lamps, cameras, and a blind spot detection system.
Murakami Corporation
The company manufactures and sells rear-view mirrors for automobiles and optical thin-film materials worldwide. It operates through two segments, mirror systems, and opt-Electronics. Its offerings include the auto-retractable mirror which integrates with the car’s locking mechanism.
Samvardhana Motherson Group
The company produces and distributes auto ancillary products. It operates through five segments, MSSL Standalone, SMR, SMP, PKC, and others. The company offers rear-view vision systems which include exterior and interior rear-view vision systems. These products are mostly offered to the performance and premium segments, medium segments, and the cost-driven, high-volume segments of the automotive OEM market.
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