Truck Mirror Systems

Truck Mirror Systems

Global Truck Mirror Systems Market to Reach US$27.2 Billion by 2030

The global market for Truck Mirror Systems estimated at US$24.0 Billion in the year 2023, is expected to reach US$27.2 Billion by 2030, growing at a CAGR of 1.8% over the analysis period 2023-2030. Medium amp; Heavy-Duty Trucks Application, one of the segments analyzed in the report, is expected to record a 1.7% CAGR and reach US$21.1 Billion by the end of the analysis period. Growth in the Light Duty Trucks Application segment is estimated at 2.3% CAGR over the analysis period.

The U.S. Market is Estimated at US$6.5 Billion While China is Forecast to Grow at 3.8% CAGR

The Truck Mirror Systems market in the U.S. is estimated at US$6.5 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$5.2 Billion by the year 2030 trailing a CAGR of 3.8% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 0.4% and 1.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 0.8% CAGR.

Truck Mirror Systems - Key Trends and Drivers

Truck mirror systems are essential components that significantly enhance the safety and efficiency of heavy-duty vehicles. These systems are designed to provide drivers with comprehensive visibility around their trucks, reducing blind spots and aiding in the maneuvering of large vehicles. Traditional truck mirror setups typically include side mirrors, convex mirrors, and sometimes additional spot mirrors, strategically placed to offer a wide field of view. Modern trucks are increasingly equipped with advanced mirror systems that incorporate digital technologies, such as cameras and sensors, to further improve visibility and safety. These advanced systems can provide real-time video feeds to in-cab displays, offering clearer and broader views than conventional mirrors, especially in adverse weather conditions or low-light environments.

The evolution of truck mirror systems reflects significant technological advancements aimed at enhancing driver awareness and reducing accidents. Digital mirror systems, often referred to as mirrorless systems, replace traditional glass mirrors with cameras and digital displays, which can eliminate blind spots more effectively and adjust automatically to changing conditions. These systems not only improve safety but also contribute to aerodynamic efficiency by reducing the drag caused by protruding mirrors, leading to better fuel economy. Additionally, some advanced systems include features like object detection and distance estimation, providing drivers with crucial information to prevent collisions. The integration of these technologies is becoming increasingly common as regulatory standards for vehicle safety continue to evolve, pushing manufacturers to adopt more sophisticated solutions.

The growth in the truck mirror systems market is driven by several factors. One of the primary drivers is the increasing emphasis on road safety and the stringent regulatory requirements aimed at reducing traffic accidents involving large vehicles. Technological advancements, such as the development of high-resolution cameras, advanced sensors, and robust digital displays, have made modern mirror systems more effective and reliable, encouraging wider adoption. The rise in long-haul trucking and the expansion of logistics and delivery services have also spurred demand for improved visibility solutions, as businesses seek to minimize risks and enhance operational efficiency. Additionally, the growing awareness and adoption of autonomous and semi-autonomous driving technologies have led to the integration of advanced mirror systems that support these innovations. These factors, coupled with the ongoing trends towards vehicle electrification and the need for enhanced driver assistance systems, ensure sustained growth in the truck mirror systems market, reflecting the broader shifts towards safety, efficiency, and technological integration in the automotive industry.

Select Competitors (Total 54 Featured) -

• Ashtree Vision & Safety Ltd
• Beekay Automotives
• Bosch Mobility
• Expo Design Inc.
• Ficosa Internacional SA
• Magna International Inc.
• MAN Truck & Bus SE
• Motherson Group
• Pan Taiwan Enterprise Co., Ltd.
• Pro Quip International
• Rosco, Inc.
• SINOTRUK HOWO Limited
• Suburban Seating & Safety
• Truck-Lite Co., LLC
• Velvac Inc.;

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.