Aspheric Mirror Market by Type (Interior Mirror, Non-Connected Mirror) Application (Automotive, Hospitality & Retail), Region (North America, Asia Pacific, Europe, South America, Middle East & Africa), Global Trends and Forecast from 2023 to 2029

Published on: Oct 2022
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Market Size	CAGR	Dominating Region
USD 44.7 million	9.66%	Asia Pacific

By Type	By Application	By Region
Interior Mirror Non-Connected Mirror	Automotive Hospitality & Retail	North America Europe Asia Pacific South America Middle East And Africa

4.8/5 - (14 votes)

The global aspheric mirror market is expected to grow at a 9.66% CAGR from 2023 to 2029. It is expected to reach above USD 44.7 million by 2029 from USD 19.5 million in 2022.

Aspheric Mirror Market Overview

Aspherical exterior mirrors have a dual, partially curved (convex) mirror surface. This expands the viewing area of the rear-view mirror. When using aspherical mirrors, precisely adjust the external mirror to meet the driving position to nearly remove the blind spot. As compared to convex mirrors, which have a constant radius of curvature over the whole surface, aspherical mirrors have a slightly convexed inner section and a decreasing radius of curvature in the outer 20%. Sensors, cameras, monitors, and communication devices are integrated into the advanced mirror. These mirrors are widely utilised in a variety of industries, including automotive, retail, residential, healthcare, and others.

ATTRIBUTE	DETAILS
Study period	2023-2029
Base year	2022
Estimated year	2023
Forecasted year	2023-2029
Historical period	2018-2023
Unit	USD Millions
Segmentation	By Type, Application
By Type	Interior Mirror Non-Connected Mirror
By Application	Automotive Hospitality & Retail
By Region	North America Asia Pacific Europe South America Middle East & Africa

Off-axis aspheric mirrors must meet demanding quality standards since they are used in high precision imaging applications in aerospace and the military. When it is necessary to avoid interfering with or obstructing the incoming beam, off-axis aspheric lenses and parabolic mirrors (OAPs) are effective for collimating or focussing a light path. Because the light channel may be folded while retaining beam integrity, many optical devices adopt this simple strategy to reduce their footprint. Inrad Optics has mastered the manufacture of lightweight metal mirrors composed of aluminium, beryllium, and a range of metal matrix materials.

The spike in adoption of advanced driver assistance systems (ADAS) in the automotive sector, growth in demand for connect devices, and shift to digital storefronts in the retail industry are the primary driving drivers of the aspheric market. However, exorbitant costs and worries about the security of private information are some of the issues impeding market expansion. On the contrary, increased smart home adoption is likely to generate significant development prospects for this industry.

COVID-19 has had a considerable economic influence on a wide range of financial and industrial sectors, including travel and tourism, manufacturing, and aviation. According to the World Bank and IMF, the worst economic slump is projected in 2023-2029. Economic activity is diminishing as a growing number of nations impose and prolong lockdowns, affecting the global economy. The global economy has recently become significantly more intertwined. The negative repercussions of numerous efforts associated to COVID-19 containment are visible in global supply chain disruptions, lower demand for imported goods and services, and a rise in the unemployment rate. With all-time low interest rates and significant falls in equities and commodity prices, risk aversion has intensified in the financial industry. Consumer and corporate confidence have both plummeted.

In 2020, many countries faced strict lockdowns due to the covid-19 pandemic. These lockdowns have resulted in the partial or complete shutdown of manufacturing facilities. The shutdown of manufacturing facilities had a major impact on the consumption of materials. This led to reduced transportation resulting in a slowing down of updating the railway system. However, with the ease of lockdown manufacturing sector is expected to return to its normal growth. The global aspheric mirror market is crowded with established players. These players have a commanding say in the market. The Application used in the aspheric mirror market is proprietary and needs long-term research and development planning implemented efficiently.

Aspheric Mirror Market Segment Analysis

On the basis of Type, the aspherical mirror market is segmented into the interior mirror, non-connected mirror. The interior mirror category is likely to dominate the market. The vehicle interior smart mirror market was valued at USD 1,249.7 million in 2017 and is predicted to reach USD 2,432.1 million by 2023, growing at a CAGR of 6.05 percent during the forecast period. Interior auto/self-dimming mirrors are now increasingly commonly found in automobiles and light commercial vehicles.

Based on the application, the aspherical mirror market is divided into automotive, hospitality & retail. The hotel and retail smart mirror application sector is predicted to expand at the fastest CAGR throughout the projection period. Smart mirrors are frequently utilised in the retail industry to pique the attention of potential customers and urge them to return on a regular basis. They can also display relevant information, such as pricing and size availability, as well as the cloth used. Shoppers may use smart mirrors to post their shopping experiences on social media. The growing use of smart mirrors in the hotel and retail sectors in North America and Europe is also propelling the smart mirror industry.

Aspheric Mirror Market | Exactitude Consultancy

Aspheric Mirror Market Players

From large companies to small ones, many companies are actively working in the aspheric mirror market. These key players include Gentex, Magna, Electric Mirror, Seura, Murakami Kaimeido, Ficosa, and ALKE. Ad Notam, Dension, Keonn, and others.

Companies are mainly in aspheric mirror they are competing closely with each other. Innovation is one of the most important key strategies as it has to be for any market. However, companies in the market have also opted for and successfully driven inorganic growth strategies like mergers & acquisitions, and so on.

In September 2017, Magna has established an engineering facility in China. The new facility is projected to create up to 100 new positions, with several highly trained engineers employed. The building will also include an innovation exhibition where clients can explore and engage with Magna’s newest technology.
In October 2016, Ficosa established a facility in Tennessee (US). The new factory is outfitted with cutting-edge technology, making it the group’s most sophisticated production facility. The new factory, which will manufacture rear view systems, will bring sophisticated manufacturing employment to Tennessee.
In August 2016, Murakami constructed a new facility in Guangdong, China, in collaboration with Foshan Murakami (China). The new manufacturing plant is planned to start producing rear-view mirrors in early 2018. The new facility is intended to expand the company’s production capacity by 50 percent.

Who Should Buy? Or Key stakeholders

Aspheric Mirror suppliers
Investors
End user companies
Research institutes

Aspheric Mirror Market Regional Analysis

The aspheric mirror market by region includes Asia-Pacific (APAC), North America, Europe, Middle East & Africa (MEA), and South America.

North America: includes the US, Canada, Mexico
Asia Pacific: includes China, Japan, South Korea, India, Australia, ASEAN and Rest of APAC
Europe: includes UK, Germany, France, Italy, Spain, Russia, and Rest of Europe
South America: includes Brazil, Argentina and Rest of South America
Middle East & Africa: includes Turkey, UAE, Saudi Arabia, South Africa, and the Rest of MEA

Its major share is occupied by Asia Pacific, Europe, Middle East & Africa (MEA), and North America. The Asia Pacific shares 39% of the total market. The factors contributing to the region’s market growth include the increasing number of display panel production plants and the rapid usage of aspheric mirror. The market in the region is expanding as a result of increased foreign investment due to low labor costs and the availability of raw resources.

Key Market Segments: Aspheric Mirror Market

Aspheric Mirror Market by Type, 2023-2029, (USD Millions)

Interior Mirror
Non-Connected Mirror

Aspheric Mirror Market by Application, 2023-2029, (USD Millions)

Automotive
Hospitality & Retail

Aspheric Mirror Market by Region, 2023-2029, (USD Millions)

North America
Europe
Asia Pacific
South America
Middle East And Africa

Important Countries In All Regions Are Covered.

Introduction
1. Market Definition
2. Market Segmentation
3. Research Timelines
4. Assumptions and Limitations
Research Methodology
1. Data Mining
  1. Secondary Research
  2. Primary Research
  3. Subject-Matter Experts’ Advice
2. Quality Checks
  1. Final Review
3. Data Triangulation
  1. Bottom-Up Approach
  2. Top-Down Approach
  3. Research Flow
4. Data Sources
Executive Summary
Market Overview
1. Global Aspheric Mirror Market Outlook
  1. Market Drivers
  2. Market Restraints
  3. Market Opportunities
2. Impact of Covid-19 On Global Aspheric Mirror Market
Global Aspheric Mirror Market by Type, (USD Million)
1. Interior Mirror
2. Non-Connected Mirror
Global Aspheric Mirror Market by Application, (USD Million)
1. Automotive
2. Hospitality & Retail
Global Aspheric Mirror Market by Region, (USD Million)
1. Introduction
2. Asia-Pacific
  1. China
  2. India
  3. Japan
  4. South Korea
  5. Australia
  6. South-East Asia
  7. Rest of Asia-Pacific
3. North America
  1. United States
  2. Canada
  3. Mexico
4. Europe
  1. Germany
  2. United Kingdom
  3. France
  4. Italy
  5. Spain
  6. Russia
  7. Rest of Europe
5. South America
  1. Brazil
  2. Argentina
  3. Colombia
  4. Rest of South America
6. Middle East and Africa
  1. UAE
  2. Saudi Arabia
  3. South Africa
  4. Rest of Middle East and Africa

Company Profiles* (Business Overview, Company Snapshot, Products Offered, Recent Developments)

Gentex

Magna

Electric Mirror

Seura

Murakami Kaimeido

Ficosa

ALKE Ad Notam

8.8. Keonn *The Company List Is Indicative

LIST OF TABLES

TABLE 1 GLOBAL ASPHERIC MIRROR MARKET BY FABRIC MATERIAL (USD MILLIONS) 2020-2029

TABLE 2 GLOBAL ASPHERIC MIRROR MARKET BY FILTER MEDIA (USD MILLIONS) 2020-2029

TABLE 3 GLOBAL ASPHERIC MIRROR MARKET BY END USER (USD MILLIONS) 2020-2029

TABLE 4 GLOBAL ASPHERIC MIRROR MARKET BY REGION (USD MILLIONS) 2020-2029

TABLE 5 US ASPHERIC MIRROR MARKET BY FABRIC MATERIAL (USD MILLIONS) 2020-2029

TABLE 6 US ASPHERIC MIRROR MARKET BY FILTER MEDIA (USD MILLIONS) 2020-2029

TABLE 7 US ASPHERIC MIRROR MARKET BY END USER (USD MILLIONS) 2020-2029

TABLE 8 CANADA ASPHERIC MIRROR MARKET BY FABRIC MATERIAL (USD MILLIONS) 2020-2029

TABLE 9 CANADA ASPHERIC MIRROR MARKET BY FILTER MEDIA (USD MILLIONS) 2020-2029

TABLE 10 CANADA ASPHERIC MIRROR MARKET BY END USER (USD MILLIONS) 2020-2029

TABLE 11 MEXICO ASPHERIC MIRROR MARKET BY FABRIC MATERIAL (USD MILLIONS) 2020-2029

TABLE 12 MEXICO ASPHERIC MIRROR MARKET BY FILTER MEDIA (USD MILLIONS) 2020-2029

TABLE 13 MEXICO ASPHERIC MIRROR MARKET BY END USER (USD MILLIONS) 2020-2029

TABLE 14 BRAZIL ASPHERIC MIRROR MARKET BY FABRIC MATERIAL (USD MILLIONS) 2020-2029

TABLE 15 BRAZIL ASPHERIC MIRROR MARKET BY FILTER MEDIA (USD MILLIONS) 2020-2029

TABLE 16 BRAZIL ASPHERIC MIRROR MARKET BY END USER (USD MILLIONS) 2020-2029

TABLE 17 ARGENTINA ASPHERIC MIRROR MARKET BY FABRIC MATERIAL (USD MILLIONS) 2020-2029

TABLE 18 ARGENTINA ASPHERIC MIRROR MARKET BY FILTER MEDIA (USD MILLIONS) 2020-2029

TABLE 19 ARGENTINA ASPHERIC MIRROR MARKET BY END USER (USD MILLIONS) 2020-2029

TABLE 20 COLOMBIA ASPHERIC MIRROR MARKET BY FABRIC MATERIAL (USD MILLIONS) 2020-2029

TABLE 21 COLOMBIA ASPHERIC MIRROR MARKET BY FILTER MEDIA (USD MILLIONS) 2020-2029

TABLE 22 COLOMBIA ASPHERIC MIRROR MARKET BY END USER (USD MILLIONS) 2020-2029

TABLE 23 REST OF SOUTH AMERICA ASPHERIC MIRROR MARKET BY FABRIC MATERIAL (USD MILLIONS) 2020-2029

TABLE 24 REST OF SOUTH AMERICA ASPHERIC MIRROR MARKET BY FILTER MEDIA (USD MILLIONS) 2020-2029

TABLE 25 REST OF SOUTH AMERICA ASPHERIC MIRROR MARKET BY END USER (USD MILLIONS) 2020-2029

TABLE 26 INDIA ASPHERIC MIRROR MARKET BY FABRIC MATERIAL (USD MILLIONS) 2020-2029

TABLE 27 INDIA ASPHERIC MIRROR MARKET BY FILTER MEDIA (USD MILLIONS) 2020-2029

TABLE 28 INDIA ASPHERIC MIRROR MARKET BY END USER (USD MILLIONS) 2020-2029

TABLE 29 CHINA ASPHERIC MIRROR MARKET BY FABRIC MATERIAL (USD MILLIONS) 2020-2029

TABLE 30 CHINA ASPHERIC MIRROR MARKET BY FILTER MEDIA (USD MILLIONS) 2020-2029

TABLE 31 CHINA ASPHERIC MIRROR MARKET BY END USER (USD MILLIONS) 2020-2029

TABLE 32 JAPAN ASPHERIC MIRROR MARKET BY FABRIC MATERIAL (USD MILLIONS) 2020-2029

TABLE 33 JAPAN ASPHERIC MIRROR MARKET BY FILTER MEDIA (USD MILLIONS) 2020-2029

TABLE 34 JAPAN ASPHERIC MIRROR MARKET BY END USER (USD MILLIONS) 2020-2029

TABLE 35 SOUTH KOREA ASPHERIC MIRROR MARKET BY FABRIC MATERIAL (USD MILLIONS) 2020-2029

TABLE 36 SOUTH KOREA ASPHERIC MIRROR MARKET BY FILTER MEDIA (USD MILLIONS) 2020-2029

TABLE 37 SOUTH KOREA ASPHERIC MIRROR MARKET BY END USER (USD MILLIONS) 2020-2029

TABLE 38 AUSTRALIA ASPHERIC MIRROR MARKET BY FABRIC MATERIAL (USD MILLIONS) 2020-2029

TABLE 39 AUSTRALIA ASPHERIC MIRROR MARKET BY FILTER MEDIA (USD MILLIONS) 2020-2029

TABLE 40 AUSTRALIA ASPHERIC MIRROR MARKET BY END USER (USD MILLIONS) 2020-2029

TABLE 41 SOUTH-EAST ASIA ASPHERIC MIRROR MARKET BY FABRIC MATERIAL (USD MILLIONS) 2020-2029

TABLE 42 SOUTH-EAST ASIA ASPHERIC MIRROR MARKET BY FILTER MEDIA (USD MILLIONS) 2020-2029

TABLE 43 SOUTH-EAST ASIA ASPHERIC MIRROR MARKET BY END USER (USD MILLIONS) 2020-2029

TABLE 44 REST OF ASIA PACIFIC ASPHERIC MIRROR MARKET BY FABRIC MATERIAL (USD MILLIONS) 2020-2029

TABLE 45 REST OF ASIA PACIFIC ASPHERIC MIRROR MARKET BY FILTER MEDIA (USD MILLIONS) 2020-2029

TABLE 46 REST OF ASIA PACIFIC ASPHERIC MIRROR MARKET BY END USER (USD MILLIONS) 2020-2029

TABLE 47 GERMANY ASPHERIC MIRROR MARKET BY FABRIC MATERIAL (USD MILLIONS) 2020-2029

TABLE 48 GERMANY ASPHERIC MIRROR MARKET BY FILTER MEDIA (USD MILLIONS) 2020-2029

TABLE 49 GERMANY ASPHERIC MIRROR MARKET BY END USER (USD MILLIONS) 2020-2029

TABLE 50 UK ASPHERIC MIRROR MARKET BY FABRIC MATERIAL (USD MILLIONS) 2020-2029

TABLE 51 UK ASPHERIC MIRROR MARKET BY FILTER MEDIA (USD MILLIONS) 2020-2029

TABLE 52 UK ASPHERIC MIRROR MARKET BY END USER (USD MILLIONS) 2020-2029

TABLE 53 FRANCE ASPHERIC MIRROR MARKET BY FABRIC MATERIAL (USD MILLIONS) 2020-2029

TABLE 54 FRANCE ASPHERIC MIRROR MARKET BY FILTER MEDIA (USD MILLIONS) 2020-2029

TABLE 55 FRANCE ASPHERIC MIRROR MARKET BY END USER (USD MILLIONS) 2020-2029

TABLE 56 ITALY ASPHERIC MIRROR MARKET BY FABRIC MATERIAL (USD MILLIONS) 2020-2029

TABLE 57 ITALY ASPHERIC MIRROR MARKET BY FILTER MEDIA (USD MILLIONS) 2020-2029

TABLE 58 ITALY ASPHERIC MIRROR MARKET BY END USER (USD MILLIONS) 2020-2029

TABLE 59 SPAIN ASPHERIC MIRROR MARKET BY FABRIC MATERIAL (USD MILLIONS) 2020-2029

TABLE 60 SPAIN ASPHERIC MIRROR MARKET BY FILTER MEDIA (USD MILLIONS) 2020-2029

TABLE 61 SPAIN ASPHERIC MIRROR MARKET BY END USER (USD MILLIONS) 2020-2029

TABLE 62 RUSSIA ASPHERIC MIRROR MARKET BY FABRIC MATERIAL (USD MILLIONS) 2020-2029

TABLE 63 RUSSIA ASPHERIC MIRROR MARKET BY FILTER MEDIA (USD MILLIONS) 2020-2029

TABLE 64 RUSSIA ASPHERIC MIRROR MARKET BY END USER (USD MILLIONS) 2020-2029

TABLE 65 REST OF EUROPE ASPHERIC MIRROR MARKET BY FABRIC MATERIAL (USD MILLIONS) 2020-2029

TABLE 66 REST OF EUROPE ASPHERIC MIRROR MARKET BY FILTER MEDIA (USD MILLIONS) 2020-2029

TABLE 67 REST OF EUROPE ASPHERIC MIRROR MARKET BY END USER (USD MILLIONS) 2020-2029

TABLE 68 UAE ASPHERIC MIRROR MARKET BY FABRIC MATERIAL (USD MILLIONS) 2020-2029

TABLE 69 UAE ASPHERIC MIRROR MARKET BY FILTER MEDIA (USD MILLIONS) 2020-2029

TABLE 70 UAE ASPHERIC MIRROR MARKET BY END USER (USD MILLIONS) 2020-2029

TABLE 71 SAUDI ARABIA ASPHERIC MIRROR MARKET BY FABRIC MATERIAL (USD MILLIONS) 2020-2029

TABLE 72 SAUDI ARABIA ASPHERIC MIRROR MARKET BY FILTER MEDIA (USD MILLIONS) 2020-2029

TABLE 73 SAUDI ARABIA ASPHERIC MIRROR MARKET BY END USER (USD MILLIONS) 2020-2029

TABLE 74 SOUTH AFRICA ASPHERIC MIRROR MARKET BY FABRIC MATERIAL (USD MILLIONS) 2020-2029

TABLE 75 SOUTH AFRICA ASPHERIC MIRROR MARKET BY FILTER MEDIA (USD MILLIONS) 2020-2029

TABLE 76 SOUTH AFRICA ASPHERIC MIRROR MARKET BY END USER (USD MILLIONS) 2020-2029

TABLE 77 REST OF MIDDLE EAST AND AFRICA ASPHERIC MIRROR MARKET BY FABRIC MATERIAL (USD MILLIONS) 2020-2029

TABLE 78 REST OF MIDDLE EAST AND AFRICA ASPHERIC MIRROR MARKET BY FILTER MEDIA (USD MILLIONS) 2020-2029

TABLE 79 REST OF MIDDLE EAST AND AFRICA ASPHERIC MIRROR MARKET BY END USER (USD MILLIONS) 2020-2029

LIST OF FIGURES

FIGURE 1 MARKET DYNAMICS

FIGURE 2 MARKET SEGMENTATION

FIGURE 3 REPORT TIMELINES: YEARS CONSIDERED

FIGURE 4 DATA TRIANGULATION

FIGURE 5 BOTTOM-UP APPROACH

FIGURE 6 TOP-DOWN APPROACH

FIGURE 7 RESEARCH FLOW

FIGURE 8 GLOBAL ASPHERIC MIRROR MARKET BY TYPE, USD MILLION, 2020-2029

FIGURE 9 GLOBAL ASPHERIC MIRROR MARKET BY APPLICATION, USD MILLION, 2020-2029

FIGURE 10 GLOBAL ASPHERIC MIRROR MARKET BY REGION, USD MILLION, 2020-2029

FIGURE 11 PORTER’S FIVE FORCES MODEL

FIGURE 12 ASPHERIC MIRROR MARKET BY REGION 2020

FIGURE 13 MARKET SHARE ANALYSIS

FIGURE 14 GENTEX: COMPANY SNAPSHOT

FIGURE 15 MAGNA: COMPANY SNAPSHOT

FIGURE 16 ELECTRIC MIRROR: COMPANY SNAPSHOT

FIGURE 17 SEURA: COMPANY SNAPSHOT

FIGURE 18 MURAKAMI KAIMEIDO: COMPANY SNAPSHOT

FIGURE 19 FICOSA: COMPANY SNAPSHOT

FIGURE 20 ALKE AD NOTAM: COMPANY SNAPSHOT

FIGURE 21 DENSION: COMPANY SNAPSHOT

FIGURE 22 KEONN: COMPANY SNAPSHOT

• What are the growth opportunities in aspheric mirror market, globally?

A large number of start-ups are present in the aspheric mirror industry, which can be a key driver of market growth.

• What is the CAGR of aspheric mirror market?

The global aspheric mirror market registered a CAGR of 9.66% from 2023 to 2029.

• Which are the top companies to hold the market share in the aspheric mirror market?

• Which is the largest regional market for aspheric mirror market?

Asia Pacific holds the largest regional market for the aspheric mirror market.

• What are the key factors hampering the growth of the market?

Stringent government rules will hinder sales growth of the aspheric mirror market.

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