AUTOMOTIVE TRAILER TOW MIRROR MARKET ANALYSIS

Automotive Trailer Tow Mirror MarketSize and Trends

Proliferating demand for towable RVs is expected to present significant growth opportunities through the forecast period

RVs are specifically designed for pleasure and recreational activities such as camping and tourism. These vehicles are incorporated with facilities such as toilets, bathrooms, kitchen, sleeping rooms and other customizable amenities that provide enhanced user comfort during the camping or travel. Moreover, favorable government policies, increasing popularity of RVs and positive business environment will also help provide significant momentum to the RVs demand. For instance, initiatives to regulate the RV quality standards by the Recreation Vehicle Industry Association (RVIA) and tax deductions by the Internal Revenue Service in the U.S., have led to increased consumer inclination towards these automobiles. Increased demands for RVs due to these factors, will provide significant growth prospects to the automotive trailer tow mirror market.

Integration of cameras to cover the blind spots is one of the next generation trends gaining major traction in the industry

Automotive trailer tow mirror find significant applications in enhancing the blind spot monitoring through incorporation of cameras. The system essentially requires three cameras, one at the rear end of the trailer and the other two as side view cameras. Side cameras are incorporated in the side mirrors to enhance the visibility of the vehicle for the driver, by displaying the side view of the central screen when turned on. These cameras are connected to the trailer light for power, and transmits the image wirelessly. This innovative advancement is expected to augment the ATTM market growth over the next few years.

Truckload trailers are expected to dominated the overall ATTM market share in 2016

Truckload trailers find significant applications in transportation of small and heavy loads across large distances in an economic manner. Considerable growth in commercial transportation activities is expected to present solid demands for these vehicles. According to Coherent Market Insights findings, global road freight transportation market is expected to register growth at around 2% CAGR. This will help the truck loads segment to continue its dominance over the next few years. Furthermore, requirement of compliance with the government regulations such as implementation of towing mirrors by the European Commission and the National Highway Traffic Safety Administration (NHTSA) will largely contribute to the ATTM market growth.