The Automotive Electrically Adjustable Outside Rear View Mirror (ORVM) Market size was estimated at USD 3.2 billion in 2023 and is projected to reach USD 5.2 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.50% during the forecast period (2024-2030).

Automotive Electrically Adjustable Outside Rear View Mirror (ORVM) Market

Market Summary

The automotive electrically adjustable outside rear view mirror (ORVM) market is a critical segment within the broader automotive safety and convenience systems industry. These advanced mirrors, which allow drivers to adjust the exterior mirror angle electronically from inside the vehicle, have transitioned from being a luxury feature to a standard offering in many vehicle segments. The market is characterized by continuous innovation, integrating features such as heating, auto-dimming, turn signal indicators, and camera systems to enhance driver visibility and safety. The growing consumer demand for enhanced comfort and safety features in vehicles, coupled with stringent government regulations mandating improved visibility and safety standards, is a primary factor propelling the adoption of electrically adjustable ORVMs. The market is intrinsically linked to global automotive production trends, with passenger cars representing the largest application segment. Asia-Pacific stands as the dominant regional market, driven by its massive automotive manufacturing base and rapidly expanding consumer vehicle fleet. The competitive landscape is marked by the presence of established global automotive suppliers and component manufacturers who are continuously investing in research and development to introduce more sophisticated and integrated mirror systems.

Key Highlights

A key highlight of the automotive electrically adjustable ORVM market is the rapid integration of advanced driver-assistance systems (ADAS) into mirror assemblies. Leading manufacturers are developing smart mirrors equipped with cameras, sensors, and display screens that provide a wider field of view, eliminate blind spots, and offer parking assistance. The convergence of traditional mirror functions with digital technology represents a significant technological leap. Another prominent trend is the use of lightweight and durable materials such as polycarbonate and advanced composites to reduce the overall weight of the vehicle, thereby contributing to improved fuel efficiency and lower emissions. The market is also witnessing a surge in demand for power-folding ORVMs, which enhance vehicle security and prevent damage in tight parking spaces. Furthermore, the push towards vehicle electrification is influencing mirror design, with a focus on energy efficiency and integration with the vehicle's electronic architecture. Companies like Magna International, Gentex Corporation, and Ficosa Internacional are at the forefront of these innovations, constantly expanding their product portfolios to cater to the evolving demands of global automakers.

Drivers, Opportunities & Restraints

The growth of the automotive electrically adjustable ORVM market is primarily driven by the escalating consumer preference for enhanced safety and comfort features in vehicles. Government regulations across various countries mandating improved safety standards, including better visibility requirements, are compelling automakers to adopt advanced mirror systems. The rising production of premium and mid-segment passenger vehicles, which frequently include these features as standard, further fuels market expansion. A significant opportunity lies in the integration of ORVMs with advanced driver-assistance systems (ADAS), creating a new product category of smart mirrors with camera monitoring systems. The burgeoning electric vehicle (EV) market also presents a substantial growth avenue, as EVs often prioritize advanced electronic features. However, the market faces certain restraints, including the high cost of advanced electrically adjustable ORVMs compared to manual variants, which can limit their penetration in the price-sensitive entry-level vehicle segment. Additionally, the complexity of these systems makes them more susceptible to malfunctions and increases repair costs, which can be a deterrent for some consumers. Fluctuations in raw material prices and supply chain disruptions also pose challenges to consistent market growth.

Concentration Insights

The global market for automotive electrically adjustable outside rear view mirrors is characterized by a high level of concentration among a few key international players. These companies possess extensive technical expertise, strong relationships with global original equipment manufacturers (OEMs), and significant research and development capabilities. The competitive landscape is dominated by tier-1 suppliers such as Magna International, Gentex Corporation, Ficosa Internacional, Murakami Corporation, and Ichikoh Industries. These players compete on factors including technological innovation, product quality, reliability, global supply chain presence, and cost-effectiveness. The market concentration is a result of high entry barriers, including the need for substantial capital investment in manufacturing facilities, stringent quality certifications required by automakers, and the necessity for continuous innovation to keep pace with automotive trends. These leading companies often operate on a global scale, supplying mirror systems to nearly all major automakers, which reinforces their market position and creates a challenging environment for new entrants.

Type Insights

The automotive electrically adjustable ORVM market can be segmented based on the type of vehicle and the technology integrated into the mirror assembly. In terms of vehicle type, the market caters to passenger cars, light commercial vehicles, and heavy commercial vehicles, with passenger cars accounting for the dominant share due to higher production volumes and greater consumer demand for comfort features. From a technological standpoint, mirrors are evolving from basic electrically adjustable units to sophisticated assemblies. Basic power-adjust mirrors allow for angle adjustment via a switch inside the cabin. A more advanced segment includes power-folding mirrors, which can be retracted electronically to prevent damage. Heated mirrors are another common variant, which defog or deice the mirror surface for clear visibility in adverse weather conditions. The most advanced segment includes mirrors integrated with turn signal indicators, puddle lamps, auto-dimming functionality to reduce glare, and blind-spot detection cameras that feed into the vehicle's infotainment or instrument cluster display, forming a critical part of the ADAS ecosystem.

Application Insights

The application of automotive electrically adjustable outside rear view mirrors is universal across all vehicle categories but varies in penetration and feature sets. The primary application is in passenger cars, where these mirrors are increasingly becoming a standard feature across all trim levels, from entry-level to luxury segments. In this category, the focus is on comfort, convenience, and aesthetics, with features like power folding and integrated turn signals being highly popular. The application in the light commercial vehicle segment is also growing, driven by the need for driver comfort and safety in delivery vans and pickup trucks. For heavy commercial vehicles such as trucks and buses, electrically adjustable ORVMs are crucial for providing drivers with a clear view of their large blind spots, thereby enhancing road safety. The application is further extending to electric and autonomous vehicles, where these mirrors are designed to be more aerodynamic to extend range and are integrated with sophisticated sensor systems for autonomous driving functions, highlighting their evolving role beyond mere reflection.

Regional Insights

The demand for automotive electrically adjustable ORVMs exhibits distinct regional patterns influenced by automotive production, consumer preferences, and regulatory environments. The Asia-Pacific region is the largest and fastest-growing market, propelled by the massive automotive manufacturing hubs in China, Japan, South Korea, and India. High vehicle production, increasing disposable income, and the growing adoption of advanced features in vehicles are key growth drivers in this region. North America and Europe are mature markets characterized by high adoption rates of advanced safety features and stringent regulatory standards. The presence of leading premium automakers and a strong consumer inclination towards technologically advanced vehicles sustain demand in these regions. Europe, in particular, has strict regulations regarding field of vision and safety, which mandate advanced mirror systems. Emerging markets in Latin America and the Middle East & Africa are expected to witness gradual growth, driven by increasing automotive sales and the gradual trickle-down of advanced features into mass-market vehicles, although price sensitivity remains a key factor.

Company Insights

The competitive landscape of the automotive electrically adjustable ORVM market is dominated by a consortium of globally recognized automotive suppliers. Magna International, through its Magna Mirrors group, is a leading player known for its comprehensive portfolio of interior and exterior mirror systems, including advanced camera-based vision systems. Gentex Corporation is a prominent name, specializing in auto-dimming mirror technology and integrating displays and cameras into its mirror products. Ficosa Internacional, a specialist in vision and safety systems, offers a wide range of advanced exterior mirrors with features like blind spot detection. Japanese suppliers Murakami Corporation and Ichikoh Industries are also significant players with strong ties to Japanese OEMs and a focus on innovation. Samvardhana Motherson Group, through its subsidiary SMRP BV, has a substantial global presence in supplying mirror systems. These companies compete intensely on technological innovation, global manufacturing footprint, and their ability to provide integrated systems that meet the specific and evolving requirements of automotive OEMs worldwide.

Recent Developments

The automotive electrically adjustable ORVM market is witnessing dynamic recent developments centered on technological integration and strategic corporate movements. A major trend is the development of digital camera monitoring systems (CMS) that are beginning to replace traditional glass mirrors. These systems use cameras to display real-time video feeds on screens inside the vehicle, offering superior aerodynamics and a wider field of view. Leading suppliers are heavily investing in this technology. Furthermore, there is a continuous effort to integrate more functions into the mirror housing, such as advanced driver-assistance system sensors, approach lighting, and gesture control for operation. On the corporate front, key players are engaging in strategic partnerships and acquisitions to bolster their technological capabilities and market reach. For instance, collaborations between mirror manufacturers and technology firms specializing in sensors and software are becoming increasingly common to develop next-generation smart mirrors. The focus on sustainability is also leading to innovations in using recycled materials for mirror housings and developing more energy-efficient actuation mechanisms.

Report Segmentation

This comprehensive market research report on the automotive electrically adjustable outside rear view mirror market provides a detailed analysis segmented across multiple dimensions to offer a granular understanding of the industry. The report is segmented by technology, covering basic electrically adjustable mirrors, power-folding mirrors, heated mirrors, and advanced mirrors with integrated features like turn signals, auto-dimming, and camera-based systems. It is further segmented by vehicle type, providing dedicated analysis for passenger cars, light commercial vehicles, and heavy commercial vehicles. A significant portion of the report is dedicated to regional segmentation, delivering in-depth insights into the market dynamics, trends, and growth prospects in key geographies including North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. This multi-faceted segmentation allows stakeholders to identify specific growth pockets, understand technology adoption patterns across different vehicle classes, and formulate region-specific strategies based on actionable intelligence derived from the analysis.

FAQs

What is an electrically adjustable ORVM? An electrically adjustable Outside Rear View Mirror (ORVM) is an exterior vehicle mirror whose angle can be adjusted electronically by the driver using a control switch located inside the cabin, eliminating the need for manual adjustment and enhancing driving convenience and safety.

What are the key benefits of electrically adjustable ORVMs? The key benefits include significantly improved driver convenience, allowing for easy mirror adjustment without moving from the driving position. They enhance safety by enabling precise positioning for optimal rear and side visibility. Advanced versions offer features like defogging, auto-dimming to reduce headlight glare, and integration with blind-spot detection systems.

Which vehicle type uses electrically adjustable ORVMs the most? Passenger cars represent the vehicle type that uses electrically adjustable ORVMs the most, due to their high production volumes and strong consumer demand for comfort and safety features across various trim levels, from mid-range to luxury segments.

Who are the leading companies in the automotive ORVM market? The market is led by global automotive suppliers such as Magna International, Gentex Corporation, Ficosa Internacional, Murakami Corporation, and Ichikoh Industries. These companies are renowned for their technological innovation, extensive product portfolios, and strong relationships with major automobile manufacturers worldwide.

What is the future of traditional ORVMs? The future is evolving towards digitalization. Traditional glass ORVMs are increasingly being complemented or replaced by Camera Monitoring Systems (CMS), which use cameras and interior displays to provide a wider, unobstructed field of view, better aerodynamics, and enhanced integration with other advanced driver-assistance systems.

What are the latest trends in ORVM technology? The latest trends focus on the integration of ORVMs with Advanced Driver-Assistance Systems (ADAS). This includes embedding cameras for blind-spot detection and rearview display, incorporating approach lighting, developing streamlined designs for improved aerodynamics (crucial for electric vehicles), and using sustainable materials in manufacturing.

Citius Research has developed a research report titled “Automotive Electrically Adjustable Outside Rear View Mirror (ORVM) Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030” delivering key insights regarding business intelligence and providing concrete business strategies to clients in the form of a detailed syndicated report. The report details out the factors such as business environment, industry trend, growth opportunities, competition, pricing, global and regional market analysis, and other market related factors.

Details included in the report for the years 2024 through 2030

• Automotive Electrically Adjustable Outside Rear View Mirror (ORVM) Market Potential
• Segment-wise breakup
• Compounded annual growth rate (CAGR) for the next 6 years
• Key customers and their preferences
• Market share of major players and their competitive strength
• Existing competition in the market
• Price trend analysis
• Key trend analysis
• Market entry strategies
• Market opportunity insights

The report focuses on the drivers, restraints, opportunities, and challenges in the market based on various factors geographically. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report. The Automotive Electrically Adjustable Outside Rear View Mirror (ORVM) Market report is segmented on the basis of various market segments and their analysis, both in terms of value and volume, for each region for the period under consideration.

Automotive Electrically Adjustable Outside Rear View Mirror (ORVM) Market Segmentation

Regions Covered

• North America
• Latin America
• Europe
• MENA
• Asia Pacific
• Sub-Saharan Africa and
• Australasia

Automotive Electrically Adjustable Outside Rear View Mirror (ORVM) Market Analysis

The report covers below mentioned analysis, but is not limited to:

• Overview of Automotive Electrically Adjustable Outside Rear View Mirror (ORVM) Market
• Research Methodology
• Executive Summary
• Market Dynamics of Automotive Electrically Adjustable Outside Rear View Mirror (ORVM) Market
  • Driving Factors
  • Restraints
  • Opportunities
• Global Market Status and Forecast by Segment A
• Global Market Status and Forecast by Segment B
• Global Market Status and Forecast by Segment C
• Global Market Status and Forecast by Regions
• Upstream and Downstream Market Analysis of Automotive Electrically Adjustable Outside Rear View Mirror (ORVM) Market
• Cost and Gross Margin Analysis of Automotive Electrically Adjustable Outside Rear View Mirror (ORVM) Market
• Automotive Electrically Adjustable Outside Rear View Mirror (ORVM) Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030
  • Competition Landscape
  • Market Share of Major Players
• Key Recommendations

The “Automotive Electrically Adjustable Outside Rear View Mirror (ORVM) Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030” report helps the clients to take business decisions and to understand strategies of major players in the industry. The report delivers the market driven results supported by a mix of primary and secondary research. The report provides the results triangulated through authentic sources and upon conducting thorough primary interviews with the industry experts. The report includes the results on the areas where the client can focus and create point of parity and develop a competitive edge, based on real-time data results.

Automotive Electrically Adjustable Outside Rear View Mirror (ORVM) Market Key Stakeholders

Below are the key stakeholders for the Automotive Electrically Adjustable Outside Rear View Mirror (ORVM) Market:

• Manufacturers
• Distributors/Traders/Wholesalers
• Material/Component Manufacturers
• Industry Associations
• Downstream vendors

Automotive Electrically Adjustable Outside Rear View Mirror (ORVM) Market Report Scope

COVID-19 Impact Analysis

Like most other markets, the outbreak of COVID-19 had an unfavorable impact on the Automotive Electrically Adjustable Outside Rear View Mirror (ORVM) Market worldwide. This report discusses in detail the disruptions experienced by the market, the impact on flow of raw materials, manufacturing operations, production trends, consumer demand and the projected future of this market post pandemic.

The report has helped our clients:

• To describe and forecast the Automotive Electrically Adjustable Outside Rear View Mirror (ORVM) Market size, on the basis of various segmentations and geography, in terms of value and volume
• To measure the changing needs of customers/industries
• To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the market
• To gain competitive intelligence and uncover new opportunities
• To analyse opportunities in the market for stakeholders by identifying high-growth segments in Automotive Electrically Adjustable Outside Rear View Mirror (ORVM) Market
• To strategically profile key players and provide details of the current competitive landscape
• To analyse strategic approaches adopted by players in the market, such as product launches and developments, acquisitions, collaborations, contracts, expansions, and partnerships

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