Safety Mirrors Market Research, 2030
The global safety mirrors market size was valued at $56,348.60 thousand in 2021, and is projected to reach $81,187.90 thousand by 2030, growing at a CAGR of 4.3% from 2022 to 2030. The increasing number of traffic deaths brought on by poor vision in blind spots and bad road infrastructure is mostly to be blamed for the safety mirrors market's steady expansion over the past few years. Safety mirrors give their users a comprehensive and unobstructed view of the area in which they are situated, which helps to reduce the likelihood of accidents. Additionally, in order to improve security & safety and prevent collisions & accidents, strict regulations have been imposed by the government and local authorities for the installation of safety mirrors in businesses, warehouses, residences, underpasses, hotel corridors, hospitals, and other locations.
However, the high cost of installation and maintenance for safety mirrors will limit market expansion. Convex mirrors need to be maintained constantly, including cleaning, polishing, and many other tasks. This costs a lot of money and may thus have a detrimental effect on market expansion.
Latest innovations and developments in safety mirrors market such as smart safety mirrors, weather resistant, and corrosion & abrasion resistant mirrors will create many opportunities for the manufacturers in the market. In January 2021, Delhi Traffic Police launched an awareness camp on rear-view mirrors to build awareness and inform people about their duty to avert any loss of lives in case of an accident. The Delhi traffic police explained that unavailability of rear view mirror or not wearing rear seat belts can cause serious damages and losses during accidents. Furthermore, compulsory installation of convex safety mirrors at blind spots along the road as directed by the government for various countries will increase the demand for the safety mirrors. This factor will give the chance to the manufacturers to raise their supply chain and meet the safety mirrors market demand. These factors are expected to drive the safety mirrors market.
The key players profiled in this report include Fred Silver & Company, Inc, Lester L. Brossard Company, Clarke’s Safety Mirrors Limited, Se-Kure Controls, DENIOS, Inc., Frontier Polymers Ltd, Smartech Safety Solutions Private Limited, Ashtree Vision & Safety, H2 Safety India Private Limited, and Honesty Automation Private Limited among others.
The global safety mirrors market is segmented on the basis of type, application, and region. By type, the market is sub-segmented into convex safety mirrors, flat safety mirrors, and dome safety mirrors. By application, the market is classified into commercial, residential, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The safety mirrors market is segmented into Type and Application.
By type, the convex safety mirrors market sub-segment dominated the market in 2021. Convex mirrors predominate because of the strict regulations set forth by governments worldwide to place these mirrors at all accident-prone locations, such as blind bends, mountainous highways, flyovers, parking spaces, underpasses, and more. The convex mirrors provide a wider and a distorted view of the area and thus are the first choices for increasing safety at the workplaces, construction sites, roads, and more.
The dome safety mirror sub-segment is projected to be the fastest growing by 2030. Increase in use of dome safety mirrors in strengthening visual security and surveillance at crossing points and corridors in hotels, hospitals, dorms, malls, stores, and other locations is major factor expected to drive revenue growth of the sub-segment. The dome safety mirror sub-segment in the safety mirrors market is expanding exponentially as a result of rising construction activities in developing nations across the globe.
By application, the commercial sub-segment dominated the global safety mirrors market share in 2021. The exponential growth of the commercial sub-segment owes to the increasing constructional activities such as construction of hotels, hospitals, and others. The purpose of using a flat safety mirror in a commercial setting is to protect both clients and staff. By offering a clear perspective of what is behind the person, the mirror can be used to stop accidents from happening. The mirror can be utilized to keep an eye on neighborhood activities as well. For instance, if the store has a cash register, the mirror can be utilized to keep an eye on the cashier and the customers. As a result, there will be less shoplifting. In a commercial context, the mirror can also be employed for decorative purposes. It can be used, for instance, to give a firm a particular look or feel.
By region, Asia-Pacific market was the fastest growing global market in 2021 and is projected to remain the fastest-growing during the forecast period. In particular, the Asia-Pacific area is experiencing a surge in demand for safety mirrors due to reasons like rapid building activities, an uptick in incidents of traffic accidents, and stringent government & industry rules for the installation of safety mirrors nearby. Convex mirrors provide an angled view for places that need observation, such as dangerous corners. They can be used on equipment such as mechanical diggers as well as other vehicles on the job site. Additionally, one of the major drivers for the convex safety mirrors market's expansion in the near future is the existence of top producers.
Impact of COVID-19 on the Global Safety Mirrors Industry
- The COVID 19 pandemic has negatively impacted the global safety mirrors market. Various governments around the world implemented total lockdown and only restricted access to transportation facilities during emergencies. As a result, the supply chain was upset and the demand for safety mirrors declined. Additionally, the pandemic's limited import and export activity resulted in higher raw material costs, which had an impact on the market's expansio
- China is the leading producer and exporter of raw materials such as glass mirror required for safety mirrors production. However, China being the epicentre of the coronavirus pandemic, its export was affected, leading to a decline in mirror production.
- Non-availability of workforce due to Covid-19 has had an adverse effect on the global safety mirrors market growth. The manufacturers are not able to continue their research and development activities in innovations due to which the market is adversely affected. The construction activities are further halted due to which the demand for installation of safety mirrors have been severely affected.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the safety mirrors market analysis from 2021 to 2030 to identify the prevailing safety mirrors market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the safety mirrors market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global safety mirrors market forecast.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global safety mirrors market trends, key players, market segments, application areas, and market growth strategies.
Safety Mirrors Market Report Highlights
| Aspects | Details |
 By Type |
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 By Application |
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 By Region |
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 Key Market Players | Ashtree Vision & Safety, Clarke’s Safety Mirrors Limited, Lester L. Brossard Company, H2 Safety India Private Limited, Frontier Polymers Ltd, DENIOS, Inc., Fred Silver & Company, Inc, Honesty Automation Private Limited, Smartech Safety Solutions Private Limited, se-kure controls, inc. |
Analyst Review
Increase in demand for convex safety mirror is the key factor that is projected to drive the growth of the safety mirrors market during the forecast period. Convex mirrors give drivers a wider range of view by shrinking the things they reflect, which increases visibility. In contrast, concave mirrors often reverse images even though they can display true images and show things at precise distances and sizes. The forecasted expansion of the safety mirrors market is anticipated to be constrained by the relevant authorities' improper maintenance of safety mirrors. Additionally, the high cost of safety mirror installation could have a detrimental effect on the market's expansion throughout the course of the projected period. To improve security and safety, governments all over the world have established regulations for the installation of safety mirrors at blind spots, on roads, in factories, warehouses, and other locations. As a result, producers will have more options to invest in expanding their production of safety mirrors.
Among the analyzed regions, Asia-Pacific market is expected to account for the highest revenue in the market by the end of 2030, followed by Europe, North America, and LAMEA. Rapid industrialization and rising demand for convex safety mirror are the key factors responsible for leading position of Asia-Pacific in the global safety mirrors market.
The safety mirrors industry is witnessing an exponential growth mainly due to increase in the number of road accidents that are caused due to poor visibility at blind turns and poor road infrastructure. Governments across the world have introduced rules for installing safety mirrors at the blind spots, roads, industries, warehouses, and others to enhance security and safety estimated to generate excellent opportunities in the safety mirrors market.
Convex safety mirrors market sub-segment of the type of industry acquired the maximum share of the global safety mirrors market in 2021.
The use of safety mirrors application commercial, residential, others is estimated to drive the adoption of safety mirrors.
Asia-Pacific will provide more business opportunities for the global safety mirrors market in future.
Fred Silver & Company, Inc, Lester L. Brossard Company, Clarke’s Safety Mirrors Limited, Se-Kure Controls, DENIOS, Inc., Frontier Polymers Ltd, Smartech Safety Solutions Private Limited, Ashtree Vision & Safety, H2 Safety India Private Limited, and Honesty Automation Private Limited, among others are the leading players active in the safety mirrors market.
The major growth strategies adopted by safety mirrors market players are investment and agreement.
The report provides an extensive qualitative and quantitative analysis of the current trends and future estimations of the global safety mirrors market from 2021 to 2030 to determine the prevailing opportunities.
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