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

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

The East Asian glass rear-view vehicle mirror market amounted to $X in 2022, remaining relatively unchanged against the previous year. Over the period under review, consumption, however, continues to indicate a perceptible descent. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Glass Rear-View Mirrors For Vehicles in Eastern Asia

In value terms, glass rear-view vehicle mirror production reduced modestly to $X in 2022 estimated in export price. Overall, production showed a pronounced contraction. The pace of growth appeared the most rapid in 2018 with an increase of X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Glass Rear-View Mirrors For Vehicles

Exports in Eastern 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. Over the period under review, exports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, the exports reached the peak of X units. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, glass rear-view vehicle mirror exports totaled $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The level of export peaked in 2022 and is likely to continue growth in the near future.

Exports by Country

In 2022, China (X units) was the main exporter of glass rear-view mirrors for vehicles, mixing up X% of total exports. Taiwan (Chinese) (X units) took the second position in the ranking, distantly followed by South Korea (X units). All these countries together held near X% share of total exports. Japan (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of X%), while shipments for the other leaders experienced a decline in the exports figures.

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

In China, glass rear-view vehicle mirror exports increased at an average annual rate of X% over the period from 2012-2022. 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 Eastern Asia stood at $X per unit in 2022, waning by X% against the previous year. Overall, the export price showed a pronounced decline. The growth pace was the most rapid in 2019 an increase of X%. Over the period under review, the export prices hit record highs at $X per unit in 2021, and then declined rapidly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per unit), while Taiwan (Chinese) ($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 Eastern Asia

For the third consecutive year, Eastern Asia recorded growth in purchases abroad of glass rear-view mirrors for vehicles, which increased by X% to X units in 2022. Overall, imports recorded a buoyant expansion. 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 shrank to $X in 2022. Total imports indicated a buoyant expansion 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 2014 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then shrank in the following year.

Imports by Country

In 2022, China (X units) was the main importer of glass rear-view mirrors for vehicles, achieving X% of total imports. Japan (X units) took the second position in the ranking, followed by South Korea (X units). All these countries together took approx. X% share of total imports. Taiwan (Chinese) (X units) took a little share of total imports.

China was also the fastest-growing in terms of the glass rear-view mirrors for vehicles imports, with a CAGR of X% from 2012 to 2022. At the same time, South Korea (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Japan experienced a relatively flat trend pattern. While the share of China (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Taiwan (Chinese) (X p.p.) and Japan (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest glass rear-view vehicle mirror importing markets in Eastern Asia were China ($X), Japan ($X) and South Korea ($X), with a combined X% share of total imports.

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

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per unit, which is down by X% against the previous year. Overall, the import price showed a abrupt decline. The most prominent rate of growth was recorded in 2019 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2021, and then contracted rapidly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per unit), while China ($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 mixed trends in the import price figures.

Source: IndexBox Platform

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