Safety Mirrors Market by Type (Flat Safety Mirror, Convex Safety Mirror, and Dome Safety Mirror), Application (Commercial, Residential, and Others), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022-2030

Global Safety Mirrors Market Analysis

The global safety mirrors market size was $56,348.60 million in 2021 and is predicted to grow with a CAGR of 4.3%, by generating a revenue of $81,187.90 million by 2030.

Global Safety Mirrors Market Synopsis

Safety convex mirrors have a variety of use many of which are for security purposes, as well as to help drivers on the road. Automobile enthusiasts call convex safety mirror the fisheye mirror due to its shape, while scientists call it a diverging mirror. This stems from the fact that when light rays reflect off of a convex mirror, they diverge. As a result, light rays that were once parallel to one another would eventually diverge. The form permits a greater field of vision, hence enhancing the observer's sight. Convex mirrors have the advantage of allowing store owners and other security workers to observe blind spots, corners, and difficult-to-see locations while monitoring from a single point, which makes them a practical security choice. These factors are anticipated to boost the safety mirrors market growth in the upcoming years.

However, high installation charges along with the poor maintenance of safety mirrors hamper the safety mirror market share. Furthermore, convex mirrors give the illusion that objects are smaller than they actually are, allowing for a wider perspective in a constrained area. Due to their convex design, convex mirrors reflect pictures in a distorted manner. It can be challenging to tell where things are actually placed. The fundamental drawback is that, unless the object is held between P (pole) and F (principal focus), it produces genuine and inverted images. Concave mirrors have a smaller field of view, making them ineffective as security or rearview mirrors.  

There are numerous prospects for manufacturers in the safety mirrors market trend due to recent breakthroughs and advances including smart safety mirrors, weather resistance, and corrosion & abrasion resistant mirrors. For instance, in 2018, Pilkington United Kingdom Ltd, a manufacturer of safety mirrors in the UK, unveiled a brand-new safety mirror called Pilkington Optimirror Protect Plus that offers improved safety features like a wider visual angle and sharp reflection. The need for safety mirrors will also expand as a result of the government-mandated installation of convex safety mirrors in blind spots along the road in a number of different nations. Due to this element, producers will have the opportunity to expand their supply networks and satisfy customer demand. It is anticipated that these elements will propel the market for safety mirrors.

According to regional analysis, the Asia-Pacific safety mirrors market analysis is predicted to grow in the projected timeframe. The growth shall be a result of increasing constructional activities and installation of the safety mirrors at the construction site.

Safety Mirrors Overview

Safety mirrors are used in a variety of locations to improve safety, security, and surveillance, including workplaces, traffic blind spots, businesses, warehouses, public parks, and more. To reduce the risk of accidents, convex mirrors are frequently put at blind spots along highways, underpasses, and in hilly terrain. The dome safety mirrors are typically put in commercial structures like hospital corridors, retail centers, malls, and intersections in hotels and other establishments. By giving a cross-sectional view of the area, they improve security and surveillance at crossing locations. For inspection purposes, flat safety mirrors are mostly put in residential areas, warehouses, and industries to prevent collisions. Additionally, the flat safety mirrors are utilized to inspect vehicles in public parking lots, shopping centers, hospitals, and other locations.

COVID-19 Impact on Global Safety Mirrors Market

According to estimates, the COVID-19 pandemic caused a fall in the safety mirrors market. Due to limits on transportation infrastructure imposed by governmental entities around the world, a reduced or nonexistent supply of raw materials was witnessed. The rise in raw material costs during the COVID-19 situation also contributed to the decline in safety mirrors market share. Additionally, enforced lockdowns in several nations became a significant factor in the decline in demand for safety mirrors. The safety mirror market growth had been negatively impacted by the workforce's months-long absence. Because the manufacturers were unable to continue their R&D efforts in innovations, the COVID-19 impact on safety mirrors market got negatively impacted. The construction operations got suspended, which had a negative impact on the need for safety mirror installation.

Increasing Prevalence of Road Accidents to Surge the Market Growth

The safety mirrors market is expanding exponentially, largely because more accidents are occurring on the roads because of poor road infrastructure and limited sight at blind bends. Convex mirrors are frequently fitted in blind areas to give drivers a better view of the turn, aid in their analysis of the road's circumstances, and help them avoid mishaps. The market for safety mirrors is predicted to expand more quickly as a result of this reason.

The government's strict laws and regulations requiring the installation of safety mirrors in a number of locations to maintain traffic safety are anticipated to further fuel safety mirrors market growth. To put convex mirrors on public highways, for instance, government of Australia published Additional Network Standards & Guidelines. According to the requirement of Section 63 of the Road Management Act, a convex safety mirror must be put on a public road at a designated location with the written permission of the local government. The road authorities must also test these safety mirrors on a regular basis to make sure they are in good working order.

To know more about global safety mirrors market drivers, get in touch with our analysts here.

Low Maintenance of Safety Mirrors to Restrain the Market Growth

The forecast years are expected to see a slowdown in the market growth for safety mirrors due to improper maintenance by the relevant authorities. Additionally, the market's expansion throughout the projected period may be negatively impacted by the high installation costs of safety mirrors.

Strict Government Rules to Install Safety Mirrors at the Blind Spots to Create Investment Opportunities

To improve security and safety, governments from all over the world have enacted regulations requiring the installation of safety mirrors at blind spots, on roads, in factories, and other locations. As a result, there will be more opportunities for manufacturers to invest in expanding their production of safety mirrors. Additionally, rising demand for safety mirrors as a result of an increase in traffic accidents would present chances for major players in the global safety mirrors market. Innovating safety mirrors with features like weather resistance and others is something that manufacturers are also investing on. The market for safety mirrors will experience a growth during the anticipated period.

To know more about global safety mirrors market opportunities, get in touch with our analysts here.

Global Safety Mirrors Market, by Type

Based on type, the market has been divided into convex safety mirror, flat safety mirror, and dome safety mirror. Among these, the convex safety mirror sub-segment accounted for the highest market share in 2021 whereas the dome safety mirror sub-segment is estimated to show the fastest growth during the forecast period.

Global Safety Mirrors Market Share, by Type, 2021

Source: Research Dive Analysis

The convex safety mirror sub-type is anticipated to have a dominant market share in the timeframe. Convex mirrors offer an angled perspective for areas that require surveillance, including risky corners. On the job site, they can be applied to machinery like mechanical diggers and other vehicles. Furthermore, the strict rules established by government bodies of many nations to place mirrors in accident-prone locations on the steep roads, notably blind turns, at parking lots, flyovers, underpasses, swimming pools, and many more are the cause of the convex mirror sub-rapid segment's rise. Convex mirrors are the primary options for enhancing safety at workplaces, building sites, roadways, and other locations since they offer a larger and distorted picture of the surroundings.

The dome safety mirror sub-type is anticipated to show the fastest growth during the timeframe. The 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 primarily responsible for the sub- segment's rise in the safety mirrors market. The dome safety mirror sub-segment of the safety mirrors market is expanding exponentially as a result of the rising construction activity in developing nations.

Global Safety Mirrors Market, by Application

Based on application, the market has been divided into commercial, residential, and others. Among these, the commercial sub-segment accounted for highest revenue share in 2021.

Global Safety Mirrors Market Share, by Application, 2021

Source: Research Dive Analysis

The commercial sub-segment is anticipated to have a dominant market share and in the timeframe. The exponential growth of the commercial sub-segment is attributable to the expansion of construction projects including those for hotels, hospitals, and other facilities. Global market growth for safety mirrors has been further pushed by the focus on monitoring in commercial settings. In the commercial sub-segment, safety mirrors in the shape of domes are typically installed. Due to the dome mirrors' high level of area visibility and consequent reduction in collision occurrences, these mirrors are typically erected in commercial buildings including hospitals, schools, hotels, and motels.

Global Safety Mirrors Market, Regional Insights

The safety mirrors market was investigated across North America, Europe, Asia-Pacific, and LAMEA.

Global Safety Mirrors Market Size & Forecast, by Region, 2021-2030 (USD Million)

Source: Research Dive Analysis

The Market for Safety Mirrors in North America to be the Most Dominant

The North America safety mirrors market is expected to be the dominating region market. The presence of established safety mirror manufacturing companies in the region is primarily responsible for the market for safety mirrors in North America's rapid expansion. The market for safety mirrors in the region will also grow as a result of rising instances of industrial and traffic accidents caused by blind spots and tight government regulations for the installation of safety mirrors in accident-prone locations. Additionally, local government initiatives to install safety mirrors for the convenience of drivers in lanes will support the growth of the safety mirrors market size in North America.

Competitive Scenario in the Global Safety Mirrors Market

Investment and agreement are common strategies followed by major market players. For instance, in December 2021, in Chandigarh, India, 107 convex mirrors (curved mirrors) were put up in an effort to lower the rising number of traffic accidents that occurred over the previous six months. The blind spots in residential and commercial areas, ISBT 43 and ISBT 17, Rock Garden, Sukhna Lake, Sector 17 market, Industrial Area, bus stops, tiny crossroads, and more have these installed.

Source: Research Dive Analysis

Some of the leading safety mirrors market players are 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.