China: Market for Glass Rear-View Mirrors For Vehicles 2022

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

In 2021, after nine years of growth, there was significant decline in the Chinese glass rear-view vehicle mirror market, when its value decreased by -X% to $X. Over the period under review, the total consumption indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Glass rear-view vehicle mirror consumption peaked at $X in 2020, and then declined remarkably in the following year.

Production of Glass Rear-View Mirrors For Vehicles in China

In value terms, glass rear-view vehicle mirror production declined to $X in 2021 estimated in export price. Over the period under review, the total production indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +X% against 2012 indices. The pace of growth appeared the most rapid in 2014 when the production volume increased by X% against the previous year. Glass rear-view vehicle mirror production peaked at $X in 2020, and then fell modestly in the following year.

Exports of Glass Rear-View Mirrors For Vehicles

Exports from China

In 2021, after two years of decline, there was significant growth in shipments abroad of glass rear-view mirrors for vehicles, when their volume increased by X% to X units. Overall, total exports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, glass rear-view vehicle mirror exports surged to $X in 2021. Over the period under review, total exports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +X% against 2017 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X units), South Korea (X units) and Brazil (X units) were the main destinations of glass rear-view vehicle mirror exports from China, with a combined X% share of total exports.

From 2012 to 2021, the biggest increases were in South Korea (with a CAGR of +X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for glass rear-view vehicle mirror exported from China were South Korea ($X), the United States ($X) and Japan ($X), with a combined X% share of total exports.

South Korea, with a CAGR of +X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average glass rear-view vehicle mirror export price amounted to $X per unit, with a decrease of -X% against the previous year. Overall, the export price recorded a slight curtailment. The pace of growth appeared the most rapid in 2013 an increase of X%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was South Korea ($X per unit), while the average price for exports to Brazil ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Rear-View Mirrors For Vehicles

Imports into China

In 2021, the amount of glass rear-view mirrors for vehicles imported into China skyrocketed to X units, picking up by X% compared with 2020. Overall, imports recorded strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, glass rear-view vehicle mirror imports soared to $X in 2021. Over the period under review, imports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, the United States (X units) constituted the largest glass rear-view vehicle mirror supplier to China, with a X% share of total imports. Moreover, glass rear-view vehicle mirror imports from the United States exceeded the figures recorded by the second-largest supplier, Germany (X units), fourfold. The third position in this ranking was held by Hungary (X units), with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-X% per year) and Hungary (+X% per year).

In value terms, the United States ($X) constituted the largest supplier of glass rear-view vehicle mirror to China, comprising X% of total imports. The second position in the ranking was held by Germany ($X), with a X% share of total imports. It was followed by Hungary, with a X% share.

From 2012 to 2021, the average annual growth rate of value from the United States stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+X% per year) and Hungary (+X% per year).

Import Prices by Country

In 2021, the average glass rear-view vehicle mirror import price amounted to $X per unit, dropping by -X% against the previous year. Overall, import price indicated a tangible expansion from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2020, and then contracted significantly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Hungary ($X per unit), while the price for France ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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