Global Automotive Trailer Tow Mirror (ATTM) Market 2017-2021
About Automotive Trailer Tow Mirror
The driving mirror helps the driver to see what is nearby the vehicle. It also helps the driver to calculate the distance between the car and the trailing vehicles. The other types of vehicle mirrors are wing or door mirrors, usually known as side-view mirrors. Rear-view mirrors give the view of objects at a nearby range of the vehicle by reflecting images that fall on the interior driving mirror. Some vehicles use cameras or sensors for alerts to differentiate between various objects. Front-view mirrors also reflect images of vehicles nearby.
Technavio’s analysts forecast the global automotive safety tow mirror market to grow at a CAGR of 11.87% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive safety tow mirror market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of automotive safety tow mirror.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automotive Trailer Tow Market 2017-2021
Technavio recognizes the following companies as the key players in the global automotive trailer tow market: Samvardhana Motherson, K Source, Milenco, and ISP Glendale
Other Prominent Vendors in the market are: CARiD.com, Ford Motor Company, and Power Vision
Commenting on the report, an analyst from Technavio’s team said: “Towing mirrors increase the visibility of the side view of the vehicle, while an extra load is attached to it. The normal flat mirror gives the replica of the exact picture without getting into the wider prospects. The wider view is needed by the driver to ensure safety while towing. Advances in technology are adding features to it such as clearance light mounted on the side and back for adding clarity to the image. The other features, such as cargo lamps and internal turn signals, are also incorporated in this mirror. The towable mirror is electrically controlled and helps in demisting the glass of the mirror off the fog or ice. It can also control the seating position and adjust the angle of the mirrors. It is electronically folded in the door. Chevrolet Silverado and GMC Sierra heavy-duty trucks have this feature incorporated in their towing mirrors.”
According to the report, the most recent trend in a vast range of consumer products is DIY products. Consumers buy the DIY product in a dismantled form from the store and install it themselves. This trend has caught on in the global ATTM market as well. The end-consumer of a towing mirror (vehicle owner) can now pick up a towing mirror system, assemble the different components as per the instructions given in the manual, and install the final system without help from an expert or an engineer. This is an added advantage to both the buyer and the seller because it is time-saving for the buyer and cost-effective for the seller.
Further, the report states that there exists a lack of awareness about the usefulness of towing mirrors. Many people are not aware of the benefits it provides, which normal side-view mirrors cannot provide. Towing mirror increases the visibility of the rear side of the vehicle, especially when an extra load is attached to it. However, there is still a lack of knowledge of the advantage of the use of towing mirrors. Very few OEMs have started offering it as a standard factory fitment. According to Caravan Safety and Security Group, it was a misconception among many drivers that since they are towing with a substantial 4*4 vehicle, the towing mirror is not needed.
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Samvardhana Motherson, K Source, Milenco, ISP Glendale, CARiD.com, Ford Motor Company, and Power Vision
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