(MENAFN- GlobeNewsWire - Nasdaq) NEWARK, Del, May 19, 2023 (GLOBE NEWSWIRE) -- In 2023, the safety mirrors market is expected to be valued at US$ 68.9 Million and US$ 107.4 Million by 2033. The market is expected to register a CAGR of 4.5%. The safety mirrors industry is driven by the increasing demand for enhanced safety measures in industrial workplaces.
The growing awareness regarding workplace safety and government regulations mandating the use of safety mirrors in public places. Such as parking lots, hospitals, and airports are fueling the growth of this industry. In addition, the rising demand for safety mirrors in the transportation industry, such as buses, trucks, and trains, due to their ability to reduce accidents and fatalities, is contributing to the market's growth.
Get an overview of the market from industry experts to evaluate and develop growth strategies. Get your sample report here @
Despite the industry's growth prospects, there are certain challenges that the safety mirrors market faces. The high costs associated with the installation and maintenance of safety mirrors are likely to impede the market's growth. In addition, the availability of low-cost substitutes and the lack of awareness regarding the benefits of safety mirrors in emerging economies are posing challenges to market growth.
The safety mirrors market presents significant growth opportunities due to the increasing demand for safety mirrors in the automotive and transportation sectors. Moreover, the rising demand for safety mirrors in emerging economies, coupled with growing government initiatives and investments in infrastructure development. The introduction of technologically advanced safety mirrors, such as smart mirrors, presents a new avenue for market growth.
One of the recent trends in the safety mirrors market is the increasing adoption of smart mirrors equipped with advanced features. Such as auto-dimming, temperature control, and voice-activated commands. In addition, the introduction of convex safety mirrors that provide a wider field of view and reduce the blind spot is gaining traction in the market.
Furthermore, the growing trend toward sustainability and environmental conservation is driving the demand for eco-friendly safety mirrors made from recyclable materials.
Key Takeaways:
During the projection period, the safety mirrors industry in the United States is estimated to reach US$ 19 Million at a CAGR of 4.5%. The safety mirrors industry in the United Kingdom is expected to reach US$ 4 Million by 2033, at a CAGR of 4.4% during the forecast period. During the projection period, the China safety mirrors industry is predicted to reach US$ 26.6 Million at a CAGR of 4.5%. During the projection period, the Japan safety mirrors industry is expected to reach US$ 20.6 Million at a CAGR of 4.2%. During the projection period, the South Korean safety mirrors industry is expected to exceed US$ 5.4 Million at a CAGR of 4.0%. The convex safety mirrors segment is anticipated to maintain a 35% market share in the safety mirrors industry in 2023. In the safety mirrors industry, the glass segment had the biggest market share of 60% in 2022.
Speak to Our Research Expert @
What Does the Competition Look Like in Safety Mirrors Market?
The safety mirrors industry is highly competitive with the presence of sizable players. Key players in the market are constantly adopting various strategies such as product innovation, mergers and acquisitions, and partnerships to stay ahead of the competition.
The market is dominated by leading players such as Peterson Manufacturing Company, Bright Pancar Sdn Bhd, PAN Taiwan Enterprise Co., Ltd., GrayGlass Company, and Se-Kure Controls, Inc., among others. These players are expanding their market presence through strategic collaborations and partnerships with other players in the market.
However, the industry faces some challenges such as increasing competition, fluctuating raw material prices, and the availability of cheaper alternatives to safety mirrors. To address these problems, leading firms are spending extensively on research and development. To bring new and cost-effective goods to the market.
There is tremendous growth potential for new market entrants, particularly in developing markets. Rising demand for safety mirrors in numerous end-use sectors such as automotive, construction, and retail is opening new potential for market participants.
Overall, the safety mirrors business is predicted to increase significantly in future years, owing to a greater emphasis on worker safety and the use of new technology. Market participants must maintain their competitiveness by investing in research and development. Besides this, generating new goods, and expanding market presence via strategic alliances and partnerships.
Segmentation Analysis:
By Product:
Convex Safety Mirrors Flat Safety Mirrors Dome Safety Mirrors
By Material:
Glass Acrylic Polycarbonate
By Region:
North America Latin America Europe East Asia South Asia Oceania The Middle East & Africa
Expand operations in the future – ask for a custom report @
Table of Content ( To C ):
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.2. Scenario Forecast
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.8. PESTLE and Porter's Analysis
3.9. Regulatory Landscape
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Product, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Product, 2023 to 2033
5.4. Y-o-Y Growth Trend Analysis By Product, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Product, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Material, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Material, 2023 to 2033
Grow your profit margins – Buy the report now at a discounted price @
Top Reports Related To Technology Market:
smart personal safety and security device market size : The smart personal safety and security device market revenue totalled US$ 9.1 Billion in 2021. The smart personal safety and security device market is estimated to reach US$ 33.5 Billion by 2032, growing at a CAGR of 12.7% from 2022 to 2032.
safety reporting systems market share : The global safety reporting systems market holds a forecasted share of US$ 2972.3 Million in 2022 and is likely to surpass US$ 10889.8 Million by 2032, moving ahead with a CAGR of 13.5% during the forecast period.
next generation network equipment market trends : The global next-generation network (NGN) equipment market is forecasted to be approximated at US$ 65,788 Million by 2032, up from US$ 29,544 Million in 2022, advancing at a CAGR of 8.3% during the forecast period.
sound reinforcement market growth : The sound reinforcement market is expected to record a CAGR of 3.2% during the forecast period 2022 to 2032, up from US$ 7.3 Billion in the year 2022 to reach a valuation of US$ 8.5 Billion by 2032.
telecom power systems market outlook : The telecom power systems market is likely to record a strong CAGR of 10.26% during the forecast period. The telecom power systems market is currently valued at US$ 4.53 Billion in 2022 and is likely to reach US$ 12.03 Billion by 2032.
enterprise information archiving (eia) market demand : The global enterprise information archiving market size is projected to reach ~US$ 26,255.8 Million by 2032, growing at a CAGR of 14.7% from 2022 to 2032.
data conversion services market analysis : The data conversion services market is likely to register a CAGR of 30.1% during the forecast period and is anticipated to reach a data conversion services market share of US$ 540795.08 Million in 2032.
calibration management software market overview : The calibration management software market is projected to have a moderate-paced CAGR of 5.1% during the forecast period. The current valuation of the calibration management software market is US$ 323.2 Million in 2022.
next generation non volatile memory market forecast : The global next-generation non-volatile memory market is forecasted to be valued at US$ 1,863.5 Million by 2032, up from US$ 874 Million in 2022, advancing at a CAGR of 7.9% during the forecast period.
next generation wireless network market type : The global next-generation wireless network market is projected to amass a revenue of about US$ 56,782.0 Million by 2032.
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
Contact Us:
Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
linkedin | twitter | blogs | youtube
For Sales Enquiries:
Tags safety mirrors market safety mirrors industry safety mirrors market size safety mirrors market demands Related Links pcb design software market managed file transfer (mft) market rugged thermal camera market force sensors market led lights market conference room solutions market radio frequency integrated circuit (rfic) market humidifier market epassport market application delivery network market ddi market advanced (3d/4d) visualization systems market desktop as a service (daas) market micro-electromechanical system (mems) market cloud eln service market telehealth software market marine communication market radar & lidar technology for railways application market acoustic wave filters market codeless testing market