China: Overview of the Market for Glass Rear-View Mirrors For Vehicles 2021

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

The Chinese glass rear-view vehicle mirror market stood at $X in 2020, picking up by X% against the previous year. The market value increased at an average annual rate of +X% from 2007 to 2020; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2012 when the market value increased by X% against the previous year. Over the period under review, the market reached the maximum level in 2020 and is expected to retain growth in years to come.

Production of Glass Rear-View Mirrors For Vehicles in China

In value terms, glass rear-view vehicle mirror production expanded modestly to $X in 2020 estimated in export prices. In general, the total production indicated a remarkable increase from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, production increased by +X% against 2014 indices. The growth pace was the most rapid in 2012 when the production volume increased by X% against the previous year. Glass rear-view vehicle mirror production peaked in 2020 and is expected to retain growth in years to come.

Exports of Glass Rear-View Mirrors For Vehicles

Exports from China

In 2020, overseas shipments of glass rear-view mirrors for vehicles decreased by -X% to X units, falling for the second consecutive year after three years of growth. Overall, exports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2010 when exports increased by X% against the previous year. Exports peaked at X units in 2018; however, from 2019 to 2020, exports stood at a somewhat lower figure.

In value terms, glass rear-view vehicle mirror exports rose significantly to $X in 2020. In general, exports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2010 with an increase of X% against the previous year. Over the period under review, exports hit record highs in 2020 and are expected to retain growth in the immediate term.

Exports by Country

The U.S. (X units) was the main destination for glass rear-view vehicle mirror exports from China, with a X% share of total exports. Moreover, glass rear-view vehicle mirror exports to the U.S. exceeded the volume sent to the second major destination, South Korea (X units), twofold. The third position in this ranking was occupied by Brazil (X units), with a X% share.

From 2007 to 2020, the average annual growth rate of volume to the U.S. amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+X% per year) and Brazil (+X% per year).

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

The U.S. saw 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 2020, the average glass rear-view vehicle mirror export price amounted to $X per unit, increasing by X% against the previous year. Over the period from 2007 to 2020, it increased at an average annual rate of +X%. The pace of growth was the most pronounced in 2012 an increase of X% year-to-year. The export price peaked in 2020 and is expected to retain growth in the immediate term.

Prices varied noticeably by the country of destination; 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 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to the UK, 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 2020, overseas purchases of glass rear-view mirrors for vehicles decreased by -X% to X units, falling for the second consecutive year after three years of growth. Over the period under review, imports, however, showed a resilient increase. The growth pace was the most rapid in 2010 when imports increased by X% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2020, imports failed to regain the momentum.

In value terms, glass rear-view vehicle mirror imports soared to $X in 2020. In general, imports, however, saw a prominent expansion. The pace of growth appeared the most rapid in 2010 when imports increased by X% y-o-y. Over the period under review, imports hit record highs in 2020 and are likely to continue growth in years to come.

Imports by Country

The U.S. (X units), Germany (X units) and the UK (X units) were the main suppliers of glass rear-view vehicle mirror imports to China, together accounting for X% of total imports.

From 2007 to 2020, the biggest increases were in the UK, while purchases for the other leaders experienced more modest paces of growth.

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

From 2007 to 2020, the average annual growth rate of value from the U.S. totaled +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

The average glass rear-view vehicle mirror import price stood at $X per unit in 2020, surging by X% against the previous year. In general, the import price enjoyed buoyant growth. The most prominent rate of growth was recorded in 2019 an increase of X% year-to-year. The import price peaked in 2020 and is expected to retain growth in years to come.

Prices varied noticeably by the country of origin; the country with the highest price was Hungary ($X per unit), while the price for France ($X per unit) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Germany, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for glass rear-view mirrors for vehicles in the world?

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China (93M units) remains the largest glass rear-view vehicle mirror consuming country worldwide, comprising approx. 25% of total volume. Moreover, glass rear-view vehicle mirror consumption in China exceeded the figures recorded by the second-largest consumer, India (37M units), threefold. Mexico (24M units) ranked third in terms of total consumption with a 6.6% share.

What are the largest producers of glass rear-view mirrors for vehicles in the world?

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The country with the largest volume of glass rear-view vehicle mirror production was China (129M units), accounting for 34% of total volume. Moreover, glass rear-view vehicle mirror production in China exceeded the figures recorded by the second-largest producer, the U.S. (59M units), twofold. The third position in this ranking was occupied by India (32M units), with a 8.5% share.

What are the leading suppliers of glass rear-view mirrors for vehicles to China?

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In value terms, the U.S. ($198M) constituted the largest supplier of glass rear-view vehicle mirror to China, comprising 57% of total imports. The second position in the ranking was occupied by Germany ($70M), with a 20% share of total imports. It was followed by Hungary, with a 12% share.

What are the leading importers of glass rear-view mirrors for vehicles from China?

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In value terms, South Korea ($53M), the U.S. ($52M) and Japan ($24M) constituted the largest markets for glass rear-view vehicle mirror exported from China worldwide, with a combined 41% share of total exports.

What is the average export price for glass rear-view mirrors for vehicles in China?

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The average glass rear-view vehicle mirror export price stood at $7.5 per unit in 2020, rising by 16% against the previous year.

What is the average import price for glass rear-view mirrors for vehicles in China?

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The average glass rear-view vehicle mirror import price stood at $57 per unit in 2020, picking up by 46% against the previous year.