Truck Mirror System Market to grow by USD 3.57 million| Growing Sales of Pickup Trucks in Developed Automotive Markets to Boost Market | 17000+ Technavio Reports

NEW YORK, March 2, 2022 /PRNewswire/ -- The "Truck Mirror System Market by Application (Medium and heavy-duty trucks and Light duty trucks) and Geography (Europe, APAC, North America, South America, and the Middle East and Africa) - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years. The truck mirror system market share growth by the medium and heavy-duty trucks segment will be significant for revenue generation. The high demand for medium- and heavy-duty trucks available in the developed automotive markets (particularly the Americas and Europe) that are technically advanced in terms of powertrain features, safety, comfort, and convenience features will drive the market growth through this segment in the coming years.

The potential growth difference for the truck mirror system market between 2021 and 2026 is USD 3.57  million. To get the exact yearly growth variance and the Y-O-Y growth rate, Talk to our analyst.

Key Market Dynamics:

• Market Driver - The key factors driving the global truck mirror system market growth is the growing sales of pickup trucks in developed automotive markets. The developed automotive markets in North America, such as the US and Canada, witness high popularity and sales of pickup trucks for personal and commercial purposes. For instance, in North America, the US witnessed increased sales of pickup trucks in 2017, registering a growth of approximately 5% over 2016. The prominent automakers operating in the US pickup truck market are Ford Motor, General Motors (GM), and Fiat Chrysler Automobiles (FCA). GM sold more than 0.95 million pickup trucks in the same year, followed by Ford Motor with about 0.9 million units. Full-size pickup trucks contributed to about 80% of the total pickup truck sales in the US. In Europe, pickup trucks sales witnessed more than 80,000 registrations in the first half of 2017, with the UK being the largest pickup truck market. Thus, the market is expected to grow during the forecast period.
• Market Challenges - The key challenges to the global truck mirror system market growth is the growing popularity of visibility systems. Side rearview mirror systems have come a long way from being mechanical or electronic mirrors to digital or camera-based visibility systems.  According to the prominent players focusing on the development of such visibility systems, the main aim has been noise and air drag reduction and fuel efficiency improvement. The prominent vendors offering camera-based visibility systems include Bosch, Continental, and Magna International. AUDI's e-Tron electric SUV became the first production vehicle (in high volumes), having a camera-based visibility system (virtual side-view mirrors). Thus, the visibility systems can replace the conventional side rearview mirrors, thereby challenging the growth of the global truck mirrors market in the forecast period.

To learn about additional key drivers, trends, and challenges - Read our FREE Sample Report right now!

The truck mirror system market report is segmented by Application (Medium and heavy-duty trucks and Light duty trucks) and Geography (Europe, APAC, North America, South America, and the Middle East and Africa).  Europe will be the leading region with 35% of the market's growth during the forecast period. 35% of the market's growth will originate from Europe during the forecast period. Germany and UK are the key markets for truck mirror systems in Europe. Market growth in this region will be slower than the growth of the market in other regions. The significantly high production volume of medium- and heavy-duty trucks in countries such as Germany and the UK will facilitate the truck mirror system market growth in Europe over the forecast period. 

View our sample report for additional insights into the contribution of all the segments, and regional opportunities in the report.

Some Companies Mentioned 

• ABLE PROGRESS INDUSTRY Co. Ltd.
• ACME Specialty Manufacturing Co.
• Gentex Corp.
• Hadley
• Honda Lock Mfg. Co. Ltd.
• Magna International Inc.
• MEKRA Lang GmbH and Co. KG
• Modern Auto Plast
• Motherson Sumi Systems Ltd.
• Murakami Corp.
• Ningbo Jingcheng Car Industry Co. Ltd.
• Panasonic Corp.
• Prakant Electronics Pvt. Ltd.
• Rosco Inc.
• Sakae Riken Kogyo Co. Ltd.
• Samsung Electronics Co. Ltd.
• Tokai Rika Co. Ltd.
• Trantek Automation Corp.
• Valeo SA
• Velvac Inc.
• To gain access to more vendor profiles with their key offerings available with Technavio, Click Here

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Key Topics Covered:

Executive Summary

• Market overview

Market Landscape

• Market ecosystem

Market Sizing

• Market definition

• Market segment analysis

• Market size 2021

• Market outlook: Forecast for 2021-2026

Five Forces Analysis

• Five forces summary

• Bargaining power of buyers

• Bargaining power of suppliers

• Threat of new entrants

• Threat of substitutes

• Threat of rivalry

• Market condition

Market Segmentation by Application

• Market segments

• Comparison by Application

• Medium and heavy-duty trucks - Market size and forecast 2021-2026

• Light duty trucks - Market size and forecast 2021-2026

• Market opportunity by Application

Customer Landscape

• Customer landscape

Geographic Landscape

• Geographic segmentation

• Geographic comparison

• Europe - Market size and forecast 2021-2026

• APAC - Market size and forecast 2021-2026

• North America - Market size and forecast 2021-2026

• South America - Market size and forecast 2021-2026

• Middle East and Africa - Market size and forecast 2021-2026

• Germany - Market size and forecast 2021-2026

• US - Market size and forecast 2021-2026

• UK - Market size and forecast 2021-2026

• China - Market size and forecast 2021-2026

• India - Market size and forecast 2021-2026

• Market opportunity by geography

Drivers, Challenges, and Trends

• Market drivers

• Market challenges

• Impact of drivers and challenges

• Market trends

Vendor Landscape

• Overview

• Vendor landscape

• Landscape disruption

• Industry risks

Vendor Analysis

• Vendors covered

• Market positioning of vendors

• Gentex Corp.

• Hadley

• Honda Lock Mfg. Co. Ltd.

• Magna International Inc.

• MEKRA Lang GmbH and Co. KG

• Motherson Sumi Systems Ltd.

• Murakami Corp.

• Panasonic Corp.

• Valeo SA

• Velvac Inc.

Appendix

• Scope of the report

• Inclusions and exclusions checklist

• Currency conversion rates for US$

• Research methodology

• List of abbreviations

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