GVR Report cover Rear-view Mirror Market Size, Share & Trends Report

Rear-view Mirror Market Size, Share & Trends Analysis Report By Feature Type, By Mounting Location, By Product Type, By Type, By Vehicle Type (Passenger Cars, Commercial Vehicles), By Region, And Segment Forecasts, 2021 - 2028

  • Report ID: GVR-2-68038-196-2
  • Number of Pages: 110
  • Format: Electronic (PDF)
  • Historical Range: 2016 - 2019
  • Industry: Technology

Report Overview

The global rear-view mirror market size was valued at USD 8.85 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.1% from 2021 to 2028. Countries worldwide have witnessed a setback due to the COVID-19 pandemic, negatively impacting automobile production. The aftermath of the initial lockdowns implemented in March 2020 resulted in supply chain disruptions, with several production facilities coming to a halt. However, starting 2022 automotive production is expected to witness recovery. The growing demand for enhanced safety, comfort, and convenience in automobiles, especially in developing and mature economies, is anticipated to drive the market growth over the forecast period.

U.S. rear-view mirror market size, by product type, 2016 - 2028 (USD Billion)

Concerns related to passenger and driver protection against accidents are expected to favor product adoption. Changes in vehicle design over the years, such as the introduction of oversized back headrests for vehicle and passenger safety, are expected to contribute to an increased demand for advanced mirrors as their visibility is not affected due to design changes in the vehicle. This has encouraged several manufacturers in the industry to introduce smart mirrors in vehicles to offer better visual clarity while preserving the intended benefit and function.

Smart rear-view mirrors include a full-screen monitor for clear visibility, with the potential to switch freely between the two modes, such as camera and mirror. For instance, Nissan has developed a Multi-sensing system with rear camera control and an image-processing program that eliminates or dramatically reduces glare in the rear field that is caused due to trailing cars’ headlights and taillights. The camera also helps the driver understand the traffic conditions.

Other factors such as the increasing awareness about shared connectivity and mobility, rising demand for autonomous vehicles, automatic parking, inclination toward comfort and safety, and others are expected to drive the demand over the forecast period. Additionally, increasing sale of ultra-luxurious, high-end, and mid-end cars is also expected to favor the global demand for rear-view mirrors.

The COVID-19 pandemic has taken a toll on passenger and commercial vehicle sales, subsequently impacting the demand. Europe continues to lead the market growth, a trend expected to continue over the next few years; however, the adoption rate has declined due to a dip in automotive sales in the region recently. The regional market is expected to see mixed recovery cycles owing to economic stimulus packages and local restrictions.

Feature Type Insights

The heating function segment accounted for the largest revenue share of over 49% in 2020 and is anticipated to maintain its dominance over the forecast period, particularly in North America and Europe, due to its extensive usage in cold weather. Based on feature type, the rear-view mirror market can be segmented into auto-dimming, blind spot detection, power control, automatic folding, heating function, and others. These features enhance the vehicle’s electrification and safety. The camera, which is integrated with the rear-view mirror, notifies the driver with a warning while parking or lane changing.

The blind-spot detection segment is projected to register the highest CAGR of over 5% in terms of revenue over the forecast period. This growth can be attributed to the continuous strengthening of vehicle safety standards and growing awareness among people about vehicle safety. Moreover, factors like the increasing demand for premium vehicles and the introduction of stringent government programs regarding vehicle safety are expected to drive the segmental growth over the forecast period.

Mounting Location Insights

The door-mounted segment accounted for the largest revenue share of around 70% in 2020. Door-mounted mirrors are also known as side or wing mirrors and are largely used in luxury cars. The positioning allows the driver to adjust the mirror as per visibility. The popularity of door-mounted products is also attributed to the aerodynamic design and are low cost of replacement. The segment is expected to witness a healthy CAGR over the forecast period owing to the rising sales of commercial vehicles.

The body-mounted segment is projected to register a CAGR exceeding 3% from 2021 to 2028. Body-mounted mirrors are used in commercial vehicles where drivers need to keep a constant track of trailing vehicles. The demand in the body-mounted segment is also increasing in commercial vehicles as heavy commercial vehicles such as trucks or goods carriers do not have interior rear-view mirrors.

Product Type Insights

The smart rear-view mirror segment accounted for the largest share of around 70% of the market in 2020. These products have an in-built camera and enable the driver to switch between a traditional rear-view mirror to an LCD monitor screen. These mirrors help provide enhanced visibility in bad weather conditions or if the view is blocked due to tall cargo and commercial vehicles. Furthermore, these are available in various shapes and sizes and help improve automotive aerodynamics, which results in enhanced fuel efficiency and drivability. The segment is expected to grow over the forecast period due to increasing technological awareness and the growing digitization of automotive parts.

The conventional rear-view mirror segment is estimated to register a CAGR exceeding 2% from 2021 to 2028. The demand is increasing in commercial vehicles owing to their benefits, such as reduced blind spots and increased visibility. Conventional mirrors offer an enhanced left and right-side view to heavy commercial vehicles.

Type Insights

The exterior mirror segment accounted for the largest share of around 70% of the market in 2020. Exterior mirrors work as a replacement for side-view mirrors and offer help in lane changing and parking. Moreover, they also help avoid traffic accidents, driving fatigue, and traffic violations. The products are largely used in heavy trucks and are efficient in any weather conditions, assisting the driver while changing lanes or parking.

The interior mirror segment is estimated to register a CAGR exceeding 3% from 2021 to 2028. Auto-dimming interior rear-view mirrors are finding increased demand in a range of vehicles as they improve driving safety by eliminating glare. The increasing sales of high-end premium vehicles and other passenger vehicles such as SUVs globally are expected to drive the demand for interior rear-view mirrors over the forecast period. Moreover, the segment is also expected to grow over the forecasted period due to increasing sales and demand for passenger vehicles.

Vehicle Type Insights

The passenger car segment accounted for the largest share of over 60% of the market in 2020. Passenger vehicles include all personal use transport vehicles, such as SUVs, luxury vehicles, and sedans, and are commonly designed to accommodate up to five individuals. The segment is estimated to expand at the highest CAGR during the forecast period, owing to the increasing vehicle fleet and vehicle per capita globally. Passenger cars occupied the majority share of over 71% of total vehicle production in 2020. In Europe, according to ACEA, vehicles per capita were recorded at 569 vehicles per 1,000 inhabitants in 2019. Besides, emerging economies such as China and India are expected to further escalate the market growth over the forecast period.

Global rear-view mirror market share, by vehicle type, 2020 (%)

The commercial vehicle segment is projected to register a CAGR of over 4.0% over the forecast period. Commercial vehicles include Light Commercial Vehicles (LCVs) and Heavy Commercial Vehicles (HCVs). The adoption of commercial vehicles is expected to increase over the next eight years owing to sustained economic activities, increased spending on the infrastructure sector, increasing e-commerce and mining activities, and lower interest rates on commercial vehicles.

Regional Insights

Asia Pacific accounted for the largest revenue share of over 50% in 2020 and is anticipated to maintain its dominance over the forecast period. The region is expected to register a CAGR exceeding 4% over the forecast period owing to the increasing production of vehicles in India, China, and Japan. The region was responsible for over half of the total global production of vehicles in 2020. Furthermore, the increase in demand for luxury vehicles in India and the availability of new purchases and replacements of automotive parts is also expected to drive the regional market growth by 2028.

Europe is expected to experience significant growth owing to the presence of prominent luxury car manufacturers such as AUDI, BMW, Porsche, and Volkswagen. The increased production volume in the region post the COVID-19 lockdown is expected to increase the demand for rear-view mirrors in the upcoming years.

Key Companies & Market Share Insights

The key players in 2020 include Gentex Corporation, Continental AG, Valeo, Magna International, Inc., and Murakami Corporation. Most of these companies are focusing on offering technologically-driven and advanced products to strengthen their hold on the market. Companies are also undertaking strategic initiatives such as regional expansions, acquisitions, mergers, and collaborations to grow in the market. Organic growth remains the key strategy for the overall industry focusing on product launch to develop new and innovative products and expand product offerings. For instance, in November 2020, Magna International, Inc. announced the launch of its next-generation camera-based driver assistance system, the Magna Gen5 “one-box”. It is a Mobileye EyeQ5-based system that features the forward-facing camera system as well as the related software in a single unit. Some of the prominent players operating in the global rear-view mirror market are:

  • Continental AG

  • Ficosa Internacional SA

  • Gentex Corporation

  • Ishizaki Honten Company Limited

  • Magna International Inc.

  • MITSUBA Corporation

  • Murakami Corporation

  • SL Corporation

  • Tokairica Co, Ltd.

  • Valeo

Rear-view Mirror Market Report Scope

Report Attribute


Market size value in 2021

USD 8.66 billion

Revenue forecast in 2028

USD 11.51 billion

Growth Rate

CAGR of 4.1% from 2021 to 2028

Base year for estimation


Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative Units

Revenue in USD Million and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

Feature type, mounting location, product type, type, vehicle type, region

Regional scope

North America; Europe; Asia Pacific; Latin America; Middle East and Africa

Country scope

U.S.; Canada; Germany; U.K.; China; Japan; India; Brazil; Mexico

Key companies profiled

Continental AG; Ficosa Internacional SA; Gentex Corporation; Ishizaki Honten Company Limited; Magna International Inc.; MITSUBA Corporation; Murakami Corporation; SL Corporation; Tokairica Co, Ltd.; Valeo

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

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Avail customized purchase options to meet your exact research needs. Explore purchase options

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 in each of the sub-segments from 2016 to 2028. For this study, Grand View Research has segmented the global rear-view mirror market report based on feature type, mounting location, product type, type, vehicle type, and region:

  • Feature Type Outlook (Revenue, USD Million, 2016 - 2028)

    • Auto-dimming

    • Blind Spot Detection

    • Power Control

    • Automatic Folding

    • Heating Function

    • Others

  • Mounting Location Outlook (Revenue, USD Million, 2016 - 2028)

    • Door Mounted

    • Body Mounted

  • Product Type Outlook (Revenue, USD Million, 2016 - 2028)

    • Smart Rear-view Mirror

    • Conventional Rear-view Mirror

  • Type Outlook (Revenue, USD Million, 2016 - 2028)

    • Exterior Mirror

    • Interior Mirror

  • Vehicle Type Outlook (Revenue, USD Million, 2016 - 2028)

    • Passenger Car

    • Commercial Vehicles

  • Regional Outlook (Revenue, USD Million, 2016 - 2028)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

    • Asia Pacific

      • China

      • Japan

      • India

    • Latin America

      • Brazil

      • Mexico

    • Middle East and Africa

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