Global Safety Mirrors Market 2017-2021

Overview of the global safety mirrors market

Market research analysts at Technavio predict that the global safety mirrors market will grow steadily at a CAGR of about 4% by 2021. This market research analysis identifies the rise in number of accidents as one of the primary growth factors for the safety mirror market. Roadways and workplaces witness large number of accidents which results in the demand for the implementation of safety mirrors at the right places. Safety mirrors increase the field of vision and bring down the rate of accidents and improve the visibility and reaction time. Rapid motorization and lack of safety regulations result in the high number of accidents leading to the demand for the installation of safety mirrors in places where there is low visibility or poor sight. The safety mirrors must be installed in the required location in the industry or on the roadways to increase the field of vision of the people and to curb the various accidents. Implementation of the safety regulations and measures results in the growth and demand of the safety mirrors market.

The market research report identifies the emergence of weatherproof safety mirrors as one of the key trends behind the growth of the safety mirrors market. Safety mirrors are usually set up in external environments that are required to withstand harsh and changing climates and the mirrors have the need to be resistant to the changing climate, to wear and tear, and provide a bright and undistorted image to the viewers. Vendors are innovating their product offerings and are introducing mirrors which are resistant to corrosion, abrasion, and UV radiations. Additionally, vendors are also focusing on manufacturing mirrors that are chemically inert and can withstand high-speed winds and extreme humidity.

Competitive landscape and key vendors

The market is highly-competitive due to the presence of few key vendors and the vendors are now expanding their markets in developing countries and diversifying their channels of distribution to strengthen their positions in the target market. With the vendors employing advanced materials and processing technologies to offer high-performance products by enhancing their product portfolios, the level of competition among the market players will intensify in the coming years.

The leading vendors in the market are -

• Fred Silver & Company
• DuraVision
• Se-Kure Domes & Mirrors

The other prominent vendors in the market are Ashtree Vision & Safety, Clarke's Safety Mirrors, H2, Safe Fleet Bus & Rail, Smartech Safety Solutions, and Walker Glass Company.

Segmentation by product type and analysis of the safety mirrors market

• Convex Safety Mirror
• Flat Safety Mirror
• Dome Safety Mirror

During 2016, the convex segment accounted for the major shares and dominated the safety mirrors market. Convex safety mirrors provide a wider view of an object or place on a relatively small surface area as the reflecting surface is extended towards the light source. The increased demand from the commercial sector, from residential parking spaces, and driveways will contribute to the growth of this market segment in the coming years.

Geographical segmentation and analysis of the safety mirrors market

• Americas
• APAC
• EMEA

This market study estimates that in terms of geographic regions, the Americas will be the major revenue contributor to the safety mirrors market throughout the forecast period. This is mainly due to the introduction of stringent regulations by various regulatory bodies and the growth of the construction industry. The growth of this region is further impacted by the increasing number of accidents and the security breaches.

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 safety mirrors market?
• What are the key market trends impacting the growth of the global safety mirrors market?
• What are the challenges to market growth?
• Who are the key vendors in the global safety mirrors market?
• What are the market opportunities and threats faced by the vendors in the global safety mirrors market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global safety mirrors market? 

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

Safety mirrors are safety equipment that are used for safety and security reasons. Safety mirrors help in overcoming sight restriction problems and enhance the visibility of blind spots. It also widely helps in observation, surveillance, and optimizing better vision in concealed entrances. Technavio’s reports for the energy portfolio cover a diverse range of product and service markets including power and energy storage. Furthermore, Technavio’s reports also offer crucial information on the leading vendors, their entire gamut of products and services, and the competitive landscape for the energy industry.

Our team of industry analysts also carry out a comprehensive research approach of primary and secondary data techniques and conduct an extensive analysis of many factors, including technological developments and the demand-supply shifts for various markets covering different geographical locations. To help clients frame new market strategies, our upcoming industry research report on the global safety mirrors market for the period of 2017 to 2021 offers valuable insights derived from reliable sources of market intelligence such as manufacturers, channel partners, regulatory bodies, and key decision makers.

This upcoming report on the global safety mirrors market also considers the growth of related markets such as traffic safety equipment and safety harness, which are expected to grow at a CAGR of 6% and 7%, respectively by 2021. As observed by our market research analysts, the increasing construction of residential buildings, where the safety mirrors are widely deployed, will boost the growth of the market in the forthcoming years.

The upcoming industry research report on the global safety mirrors systems market also showcases the drivers, trends, and the challenges faced by the energy industry and gives valuable insights into sectors of oil and gas and smart grids.