Asia: Market for Glass Rear-View Mirrors For Vehicles 2024

Market Size for Glass Rear-View Mirrors For Vehicles in Asia

The Asian glass rear-view vehicle mirror market expanded modestly to $X in 2022, with an increase of X% against the previous year. Over the period under review, consumption, however, saw a slight setback. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Glass Rear-View Mirrors For Vehicles in Asia

In value terms, glass rear-view vehicle mirror production contracted to $X in 2022 estimated in export price. Overall, production recorded a pronounced contraction. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

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Exports of Glass Rear-View Mirrors For Vehicles

Exports in Asia

In 2022, shipments abroad of glass rear-view mirrors for vehicles increased by X% to X units, rising for the second consecutive year after two years of decline. Overall, exports continue to indicate a prominent increase. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. As a result, the exports attained the peak of X units. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, glass rear-view vehicle mirror exports rose slightly to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

China was the key exporter of glass rear-view mirrors for vehicles in Asia, with the volume of exports finishing at X units, which was approx. X% of total exports in 2022. Taiwan (Chinese) (X units) held a X% share (based on physical terms) of total exports, which put it in second place, followed by South Korea (X%). The following exporters - Japan (X units), India (X units) and Turkey (X units) - together made up X% of total exports.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest glass rear-view vehicle mirror supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a X% share of total exports. It was followed by South Korea, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled X%. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (X% per year) and South Korea (X% per year).

Export Prices by Country

The export price in Asia stood at $X per unit in 2022, shrinking by X% against the previous year. Over the period under review, the export price saw a perceptible setback. The pace of growth was the most pronounced in 2019 an increase of X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per unit in 2021, and then shrank notably in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced more modest paces of growth.

Imports of Glass Rear-View Mirrors For Vehicles

Imports in Asia

In 2022, supplies from abroad of glass rear-view mirrors for vehicles increased by X% to X units, rising for the second consecutive year after two years of decline. In general, imports showed a remarkable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, glass rear-view vehicle mirror imports dropped to $X in 2022. Total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2012 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

China was the largest importer of glass rear-view mirrors for vehicles in Asia, with the volume of imports recording X units, which was approx. X% of total imports in 2022. Japan (X units) took the second position in the ranking, followed by South Korea (X units), Indonesia (X units) and Turkey (X units). All these countries together took approx. X% share of total imports. Vietnam (X units), India (X units), Malaysia (X units) and Uzbekistan (X units) held a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to glass rear-view vehicle mirror imports into China stood at X%. At the same time, Uzbekistan (X%), Vietnam (X%), Malaysia (X%), South Korea (X%), Turkey (X%), India (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2022. Japan experienced a relatively flat trend pattern. From 2012 to 2022, the share of China, Vietnam, South Korea, Malaysia and Uzbekistan increased by X, X, X, X and X percentage points, respectively.

In value terms, China ($X), Japan ($X) and South Korea ($X) were the countries with the highest levels of imports in 2022, together comprising X% of total imports. India, Turkey, Vietnam, Indonesia, Malaysia and Uzbekistan lagged somewhat behind, together accounting for a further X%.

Uzbekistan, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per unit in 2022, waning by X% against the previous year. In general, the import price showed a abrupt setback. The most prominent rate of growth was recorded in 2019 an increase of X%. Over the period under review, import prices reached the peak figure at $X per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per unit), while Uzbekistan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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