Middle East: Market for Glass Rear-View Mirrors For Vehicles 2023

Market Size for Glass Rear-View Mirrors For Vehicles in the Middle East

In 2021, after three years of growth, there was decline in the Middle Eastern glass rear-view vehicle mirror market, when its value decreased by -1.2% to $X. The total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2020, and then declined modestly in the following year.

Production of Glass Rear-View Mirrors For Vehicles in the Middle East

In value terms, glass rear-view vehicle mirror production totaled $X in 2021 estimated in export price. Overall, production, however, posted prominent growth. The most prominent rate of growth was recorded in 2014 with an increase of 78% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Glass Rear-View Mirrors For Vehicles

Exports in the Middle East

In 2021, approx. X units of glass rear-view mirrors for vehicles were exported in the Middle East; rising by 43% compared with the year before. Total exports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +6.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, glass rear-view vehicle mirror exports skyrocketed to $X in 2021. Overall, exports saw resilient growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey represented the major exporter of glass rear-view mirrors for vehicles in the Middle East, with the volume of exports reaching X units, which was approx. 84% of total exports in 2021. It was distantly followed by the United Arab Emirates (X units), creating an 11% share of total exports. Oman (X units) took a relatively small share of total exports.

Exports from Turkey increased at an average annual rate of +10.2% from 2012 to 2021. At the same time, Oman (+61.8%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +61.8% from 2012-2021. By contrast, the United Arab Emirates (-4.0%) illustrated a downward trend over the same period. While the share of Turkey (+21 p.p.) and Oman (+2.9 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the United Arab Emirates (-17.2 p.p.) displayed negative dynamics.

In value terms, Turkey ($X) remains the largest glass rear-view vehicle mirror supplier in the Middle East, comprising 88% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 6.4% share of total exports.

In Turkey, glass rear-view vehicle mirror exports expanded at an average annual rate of +12.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the United Arab Emirates (+3.2% per year) and Oman (+60.4% per year).

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per unit, growing by 5.1% against the previous year. Over the last nine-year period, it increased at an average annual rate of +4.0%. The pace of growth appeared the most rapid in 2018 when the export price increased by 16%. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Oman ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+7.5%), while the other leaders experienced mixed trends in the export price figures.

Imports of Glass Rear-View Mirrors For Vehicles

Imports in the Middle East

In 2021, the amount of glass rear-view mirrors for vehicles imported in the Middle East expanded remarkably to X units, with an increase of 8.1% against 2020 figures. Overall, imports, however, continue to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2017 when imports increased by 20% against the previous year. The volume of import peaked at X units in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, glass rear-view vehicle mirror imports soared to $X in 2021. Over the period under review, imports continue to indicate a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Turkey was the main importing country with an import of about X units, which amounted to 46% of total imports. The United Arab Emirates (X units) ranks second in terms of the total imports with a 21% share, followed by Iraq (9%), Iran (6.6%) and Israel (5.2%). The following importers - Yemen (X units) and Oman (X units) - together made up 6.4% of total imports.

Turkey experienced a relatively flat trend pattern with regard to volume of imports of glass rear-view mirrors for vehicles. At the same time, Israel (+3.7%) and Iraq (+3.1%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +3.7% from 2012-2021. By contrast, Oman (-2.0%), Yemen (-2.5%), the United Arab Emirates (-8.5%) and Iran (-9.7%) illustrated a downward trend over the same period. Turkey (+11 p.p.), Iraq (+4.2 p.p.) and Israel (+2.6 p.p.) significantly strengthened its position in terms of the total imports, while Iran and the United Arab Emirates saw its share reduced by -5% and -11.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported glass rear-view mirrors for vehicles in the Middle East, comprising 44% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 17% share of total imports. It was followed by Israel, with an 8.2% share.

In Turkey, glass rear-view vehicle mirror imports remained relatively stable over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+1.3% per year) and Israel (+7.8% per year).

Import Prices by Country

The import price in the Middle East stood at $X per unit in 2021, rising by 12% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.3%. The growth pace was the most rapid in 2016 when the import price increased by 36%. Over the period under review, import prices hit record highs in 2021 and is likely to see gradual growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was Israel ($X per unit), while Iraq ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+10.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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