Safety Mirrors Market

Safety Mirrors Market Growth Outlook (2023 to 2033)

The global safety mirrors market is valued at US$ 69 million in 2023 and is expected to increase at a CAGR of 5% and reach US$ 112.3 million by end of 2033.

Safety mirrors give users a clear, expansive view of a site that they want to see, which helps reduce the likelihood of an accident. Government and municipal authorities in several countries have established strict regulations on the utilization of security mirrors in factories, enterprises, crosswalks, apartments, hospitals, and other sites to improve safety and minimize accidents and crashes.

Convex safety mirrors, flat safety mirrors, and dome safety mirrors are some of the types of safety mirrors. Sales of convex safety mirrors are expected to increase at a CAGR of 5% during the next 10 years.

A diverging mirror is a scientific name for a convex mirror, which is curved in shape. It increases security and allows for a wider field of vision. Convex mirrors are becoming more popular due to their increasing need in automobiles.

More vehicles are running on the roads as a result of rising urbanization and a fast-paced way of life. Traffic accidents have been the most commonly cited incident because of traffic jams and a lack of road infrastructure. Also, the increase in commercial premises has made room for more security.

Convex mirrors are a useful security option since they give users and other security personnel the ability to monitor blind spots, corners, and challenging situations from a single point. All such factors are uplifting demand for convex mirrors. Demand for flat safety mirrors is expected to progress at a CAGR of 4.5% from 2023 to 2033. Flat safety mirrors enhance object and floor visibility to lessen the risk of on-site mishaps. The flat safety mirror improves depth perception and visibility in challenging-to-see locations and blind spots around the premises.

Sturdy flat safety mirrors are available in many sizes and shapes and are composed of shatter-resistant acrylic, making them perfect for use in abrasive conditions both indoors and outdoors. When a panoramic view is not needed, flat security mirrors can be put on walls and ceilings to give a complete picture of the surroundings.

Security guards and other workers can view a greater area than is feasible from a single spot by putting a flat mirror on the wall. Workers can view operating machinery by installing a flat mirror on a ceiling.

Report Attributes	Details
Safety Mirrors Market Size (2023E)	US$ 69 Million
Forecasted Market Value (2033F)	US$ 112.3 Million
Global Market Growth Rate (2023 to 2033)	5% CAGR
China Market Growth Rate (2023 to 2033)	6% CAGR
Japan Market Growth Rate (2023 to 2033)	4% CAGR
Germany Market Growth Rate (2023 to 2033)	4.5% CAGR
Canada Market Growth Rate (2023 to 2033)	4.5% CAGR
Key Companies Profiled	Peterson Manufacturing Company Bright Pancar Sdn Bhd PAN Taiwan Enterprise Co., Ltd. GrayGlass Company Se-Kure Controls, Inc. Shiva Industries Accuform Emedco, Inc. Roadtech Manufacturing Securikey Ltd. Ashtree Vision & Safety H2 Safety India Private Limited Honesty Automation Private Limited

What is the Market for Safety Mirrors Increasing at a Fast Pace?

“Rising Cases of Road Accidents Generating Need for Safety Mirrors”

The market for safety mirrors is growing healthily, primarily because of the rising prevalence of accidents on the roads as a result of subpar road infrastructure and restricted visibility at blind curves. Convex mirrors or blind spot mirrors are often installed in blind spots to provide drivers with a clearer view of the turn, help them better assess the situation on the road, and prevent accidents.

Growth of the safety mirrors market is predicted to be further fueled by the government's stringent laws and regulations that mandate the installation of safety mirrors in various areas to ensure traffic safety.

• The government of Australia has laid down Additional Network Standards & Guidelines for the installation of convex mirrors on public roadways. A convex safety mirror must be installed on a public road at a defined site with the written consent of the local authority, as per Section 63 of the Road Management Act. Also, to ensure that these safety mirrors are in good functioning order, the transportation agencies must routinely check them.

“Technological Developments Benefitting Suppliers of Safety Mirrors”

Recent breakthroughs and advancements such as the introduction of weather-resistant mirrors, automotive digital mirrors, automotive telescopic mirrors, smart safety mirrors, and corrosion- and abrasion-resistant mirrors are expected to generate revenue growth for manufacturers in the safety mirrors market. A digital mirror that incorporates cutting-edge technologies including cameras, sensors, displays, and communication hardware is referred to as a smart mirror.

Smart mirrors are primarily utilized in various business sectors, including the automotive, commercial, residential, medical, and others. The use of smart mirrors is increasing due to the rapid uptake of advanced driver assistance systems (ADAS) in the automobile industry, the rising demand for connected devices, and the shift to digital storefronts in the retail sector.

• In January 2022, an Indian firm named Wellnesys Inc. developed ARIA, a smart mirror that integrates AR/VR, smart sensing technologies, and computer vision to give people interesting and integrated virtual experiences via smart TVs and smart mirrors.

“Mirror Coatings Widely Utilized in Shining Safety Mirrors”

Reflective surfaces, such as mirrors, are used in various applications because they can reflect incident light. The most popular technique for creating a polished surface involves applying a layer of reflected coating using mirror coatings.

Aluminum, copper, silver, gold, and other metals are utilized as mirror coatings to improve an optical system's reflecting capabilities. Applying alternate high- and low-index dielectric layers to a glass surface also allows for the creation of mirrors.

The use of mirror coatings is in high demand due to rising demand for outdoor convex mirrors and indoor convex mirrors in the construction, automotive & transportation, and solar power industries. Expanding uses in the solar power industry and rising demand from the construction sector is driving sales of mirror coatings.

What Issues Need to Be Tackled by Manufacturers of Safety Mirrors?

“High Budget Requirement for Installation & Maintenance of Safety Mirrors”

Convex mirrors require continuous maintenance that includes thorough cleaning, polishing, and other labor-intensive procedures. The gross margin for safety mirrors is anticipated to be slowed down by their high installation and maintenance costs.

“High Chances of Delusion”

Convex mirrors have the issue of making some objects appear to be further away than they are. It projects a fake, erect, and distorted picture. It can be difficult to determine where items are located. Although convex mirrors come in a variety of shapes and sizes, their curvature can directly contribute to a motorist misjudging distance and speed.

Country-wise Analysis

Why is Asia Pacific Expected to Emerge as a Profitable Market for Safety Mirror Suppliers?

“Swiftly Developing Construction Sector Augmenting Safety Mirror Demand”

During the projected period, the Asia Pacific region is anticipated to lead the market for safety mirrors. Demand for safety mirrors is booming in the region because of the developing construction activities in countries such as China, India, and Japan.

• Sales of safety mirrors in China & Japan are predicted to increase at CAGRs of 6% & 4%, during the next 10 years, respectively.

In the Asia Pacific region, safety mirror production is expected to be at its highest level. H2 Safety India Private Limited, Honesty Automation Private Limited, and PAN Taiwan Enterprise Co., Ltd. are some of the major producers of safety mirrors in the region. In the next ten years, the Chinese government has unveiled extensive construction plans that include housing for 250 million people in new megacities, which is expected to open up opportunities for safety mirror manufacturers.

How is the Market Evolving in the United States?

“Safety Mirrors Seen as Vital Tool in Minimizing Accidents”

The United States is holding a significant position in the North American market. This can be due to the increasing cases of road & industrial accidents and the presence of leading market players. Local governments in the United States are emphasizing the installation of advanced traffic mirrors on roads.

• Injuryfacts.nsc.org reports that the number of miles travelled in the United States in April 2022 increased by 1.5% when compared to April 2021. By April 2022, around 3,400 fatalities were reported due to road accidents.

Safety mirrors are highly demanded in the United States and are installed in parking lots, warehouses, ATMs, and businesses to prevent stealing, and on roads to view blind spots. A 360-degree vision is provided by modern safety mirrors, which can dramatically lower the rate of crashes, robberies, and vandalism.

Why is Germany a Lucrative Market in the European Region?

“Strict Regulations on Road Safety Measures”

To prevent accidents, safety mirrors are often installed for inspection purposes in residential areas, factories, and malls. The German government places a great priority on improving road safety, and the transportation authorities are concentrating on putting safety mirrors on roadways to achieve this goal. In Germany, signalized intersections and devices are normally designed, located, built, signed, and marked by the local street transportation authority.

Blind spots are spaces around a vehicle that the driver cannot see by peering out of the windows or using regular mirrors. For several truck accidents, blind spots are mainly responsible. EU law mandates that truckers be equipped with blind spot mirrors, which provide drivers with a broader field of vision than standard mirrors, to decrease the cases of accidents.

Category-wise Analysis

Which Types of Safety Mirrors are Widely Installed in Commercial Applications?

“Dome Safety Mirrors popular as They Provide Greater Visibility Level”

Commercial applications are experiencing a high need for security mirrors. Malls, factories, and shops are some of the applications where safety mirror glasses are highly required.

Dome mirrors are widely installed in commercial applications. Due to the great level of area visibility provided by dome mirrors and the subsequent decrease in accident occurrences, dome mirrors are commonly installed in commercial structures such as hospitals, hotels, schools, and motels.

Competitive Landscape

Peterson Manufacturing Company, Bright Pancar Sdn Bhd, PAN Taiwan Enterprise Co., Ltd., GrayGlass Company, and Se-Kure Controls, Inc. are some of the key players in the safety mirrors market.

According to Fact.MR, a market research and competitive intelligence provider, leading companies in the safety mirrors market are investing heavily in innovating safety mirrors such as weather resistance and others to generate more revenue.

• Recently, Pilkington United Kingdom Limited introduced Pilkington OptimirrorTM Protect Plus, a modern safety mirror that provides better safety competency without the need for extra processing.

Key Segments of Safety Mirrors Industry Research

• By Product :

  • Convex Safety Mirrors
  • Flat Safety Mirrors
  • Dome Safety Mirrors

• By Application :

  • Commercial
  • Residential

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA