Global Truck Mirror System Market 2019-2023 | Growth Analysis and Forecast | Technavio
LONDON--(BUSINESS WIRE)--Dec 5, 2018--The global truck mirror system market research report by predicts the market to post a CAGR of close to 8% during the period 2019-2023. However, the growth momentum of the market is expected to decelerate due to a decline in the year-over-year growth.
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Technavio has released a new market research report on the global truck mirror system market for the period 2019-2023. (Graphic: Business Wire)
A key driver for the global truck mirror system market is the increasing functionalities in rear-view mirrors. The rear-view mirrors form a major part of a vehicle’s visibility system. The global automotive market is observing the fitment of rear-view mirror systems with advanced functionalities such as electrically adjustable and foldable, in-built defogger, day/night functionality, and integrated camera display. The rising integration of such features in truck applications is driving the growth of the global truck mirror system market.
This research report also provides an analysis of the most important trends expected to impact the market outlook during the period 2019-2023. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights developments in side rear-view mirror technologies as one of the key trends in the global truck mirror system market:
Global truck mirror system market: Developments in side rear-view mirror technologies
The truck mirror system market has been witnessing a growing penetration of advanced functionalities for improving safety. The vendors and automakers are concentrating on optimizing rear-view mirror designs that are helping in increasing the overall value proposition of the mirror systems. The pickup trucks as well as medium- and heavy-duty trucks are witnessing greater penetration of advanced functionalities.
“The prominent players offer advanced driver assistance systems functionalities in the side rear-view mirror for pickup trucks. For instance, Ford Motor offers blind spot information system display on exterior rear-view mirrors in its 2019 F-150 pickup truck,” says a senior research analyst at Technavio.
Global truck mirror system market: Segmentation analysis
This truck mirror system market analysis report segments the market by application (light-duty trucks and medium and heavy-duty trucks) and geography (the Americas, APAC, and EMEA).
The light-duty trucks segment held the largest truck mirror system market share in 2018, accounting for nearly 90% of the market. This application segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2018 with more than 85% of the market share, followed by APAC and EMEA respectively. The Americas is expected to dominate the market throughout the period 2019-2023.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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SOURCE: Technavio Research
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