Global Automotive Trailer Tow Mirror (ATTM) Market 2017-2021

Overview of the global automotive trailer tow mirror (ATTM) market

Technavio’s market research analyst predicts the global automotive trailer tow mirror (ATTM) market to grow steadily at a CAGR of around 12% by 2021. One of the primary drivers for this market is the growth of towable RVs market impacting the growth of towing mirrors. Towable RVs are automobiles that are designed for recreation or pleasure activities such as vacations and camping. Towable RVs have facilities such as sleeping room, kitchen, and bathroom facilities for use during travel and camping. The positive business environment and favorable regulatory policies are expected to contribute to the growth of the market for towable RVs across the world. Moreover, favorable IRS tax deductions also contribute to the growth of the RV market in North America. This increase in the popularity of towable RVs is expected to propel growth in the global ATTM market during the forecast period.

One of the latest trends gaining traction in this market is the integration of cameras to cover blind spots. Towable mirrors find more applications when they get integrated with cameras to avoid the blind spots. The system consists of three cameras, two side view and one on the rear side of the trailer customer side. The side cameras are integrated into the side mirror that helps in improving the side vision of the vehicle. When the system is turned on, the system displays the side view of the central screen. Also, this camera is also connected to the trailer light for the power and helps in transmitting the image wirelessly to the display.  This rise in the innovation of the towable mirrors is expected to augment growth in the ATTM market in the coming years. 

Competitive landscape and key vendors

The ATTM market is highly fragmented due to the presence of several international and regional vendors holding market shares across the globe. Also, the aftermarket players account for a huge portion of the market, as they are offering many additional features such as cargo lamps and cameras. To compete in this environment, an increasing number of companies are following strategies such as mergers and acquisitions.

Leading vendors in the market are –

• Samvardhana Motherson
• K Source
• Milenco
• ISP Glendale

Other prominent vendors in the ATTM market include CARiD.com, Ford Motor Company, and Power Vision.

Segmentation by vehicle type and analysis of the ATTM market

• Towable RVs
• Pickup trucks

During 2016, the pickup trucks segment dominated the ATTM market and accounted for a major part of the overall market share. The implementation of the use of towing mirrors by certain agencies such as the National Highway Traffic Safety Administration (NHTSA) and the European commission is the key contributor to the dominance of this segment in the global market.

Geographical segmentation and analysis of the ATTM market

• North America
• ROW

In this market study, analysts have estimated North America to dominate the ATTM market during the forecast period. Factors such as the change in lifestyle and living pattern have impelled the demand for travel trailers in this region, this, in turn, is expected to drive the ATTM market in the North America during the next four years.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global ATTM market?
• What are the key market trends impacting the growth of the global ATTM market?
• What are the challenges to market growth?
• Who are the key vendors in the global ATTM market?
• What are the market opportunities and threats faced by the vendors in the global ATTM market?
• Trending factors influencing the market shares of North America and ROW.
• What are the key outcomes of the five forces analysis of the global ATTM market? 

Technavio also offers customization on reports based on specific client requirement.