Safety Mirrors Market 2022 Increasing Road Accidents Across Worldwide

According to Precision Business Insights (PBI), the latest report, the safety mirrors market is expected to be valued at USD 70.5 million in 2022, growing at a 4.6% CAGR from 2022 to 2028. The primary driver of the expansion of the global safety mirrors markets is a rise in the number of road accidents due to poor visibility at blind spots and poor road infrastructure, and strict government rules and regulations to install safety mirrors in accident-prone zones.

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Convex Safety Mirror Segment to Dominate the Safety Mirrors Market:
Based on type, the convex safety mirror is expected to have a significant market share in over the forecasted period. Convex mirrors provide an angled perspective for areas that require surveillance, together with risky corners. On the job site, they can be applied to machinery like mechanical diggers and other vehicles. Moreover, the stringent rules established by government bodies of several nations to place mirrors in accident-prone locations on steep roads, notably blind turns, parking lots, flyovers, underpasses, swimming pools, and many more are the cause of the convex mirror rapid growth. Convex mirrors are the main options for increasing safety at workplaces, building sites, roadways, and other locations since they offer a wide and distorted picture of the surroundings.

Asia Pacific Safety Mirrors Market:
The Asia Pacific safety mirrors market is anticipated to be dominating the regional market owing to the presence of well-known safety mirror manufacturing companies in the region and increasing instances of industrial and traffic accidents. Moreover, government regulations for the installation of safety mirrors in accident-prone locations. Also, local government initiatives to install safety mirrors for the convenience of drivers in lanes will propel the growth of the safety mirrors market size in this region.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global Safety Mirrors market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region.

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The safety mirrors market is segmented based on type, application, and geography.
Based on the type, the market is segmented into the following:
• Convex Safety Mirror
• Flat Safety Mirror
• Dome Safety Mirror

Based on the application, the market is segmented into the following:
• Commercial
• Residential
• Others

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

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Key players' profiles in the safety mirrors market report 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.

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This release was published on openPR.