Transparency Market Research (TMR) provides key insights on the Electric Outside Rear-view Mirror (ORVM) market in its latest report titled “Electric Outside Rear-view Mirror (ORVM) Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026.” According to the report, increasing popularity of SUVs in Asia Pacific is projected to drive the Electric Outside Rear-view Mirror (ORVM) market during the forecast period.
Rise in automation trend is expected to further drive the development of electric OVRMs with integrated cameras and vision sensors. Rising vehicle sales is a major driver of the electric ORVM market. Furthermore, increasing popularity of SUVs is boosting the demand for electric ORVM. An ORVM is necessary in SUVs owing to high clearance of these vehicles. In SUVs, such as Toyota’s Fortuner, the ORVM is mounted on the hood instead of the pillar to gain wider visibility.
The report has segmented the global electric ORVM market based on feature, vehicle type, sales channel, and region. In terms of feature, the report has segregated the global electric ORVM market into conventional, heated, and auto-dimming. Among these, the conventional electric ORVM held a prominent share of the market. However, heated and auto-dimming segments are also expected to grow significantly during the forecast period.
On the basis of vehicle type, the electric ORVM market is classified into passenger vehicle, light commercial vehicle, and heavy commercial vehicle. In terms of sales channel, the electric ORVM market is bifurcated into OEM and aftermarket. Electric ORVMs are generally offered as OE feature and thus, the OEM segment is anticipated to lead the market.
Based on region, the electric ORVM market is split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Out of these, Asia Pacific is projected to lead the global electric ORVM market due to rapid economic expansion witnessed in developing countries, which in turn is boosting sales of vehicles in these countries. Major players operating in the global electric ORVM market are included in this report to give a better competitive analysis of the market and these are Ficosa International SA, Magna International Inc., Ichikoh Industries, Ltd., Samvardhana Motherson Group, and Murakami Corporation.
For more information on Electric Outside Rear-view Mirror (ORVM) Market, please visit website of Transparency Market Research.
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