Now Days Automotive Trailer Tow Mirror (ATTM) Market Graph is Inclined Towards Sky
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.
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U.S. is expected to dominate the automotive trailer tow mirror market, owing to highly developed road infrastructure, increasing adoption of RVs and government mandates for the deployment of these equipment in the vehicles. Moreover, increasing inclination of consumers towards camping and other recreational trips, in turn augmenting demand for travel trailers creates a highly conducive environment for growth of the automotive trailer tow mirror market.
The automotive trailer tow mirror market is highly fragmented, owing to the large number of players sharing the business space. Moreover, several regional and international players have established significant presence in the aftermarket, which constitutes substantial share of the industry. Major offerings of these players include additional integration of cameras and cargo lamps to attract the consumers. Chief ATTM market participants include K Source, Samvardhana Motherson, ISP Glendale, Milenco, Power Vision, CARiD.com, and Ford Motor Company.
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.
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