South-Eastern Asia: Market for Glass Rear-View Mirrors For Vehicles 2023

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

The Southeast Asian glass rear-view vehicle mirror market dropped slightly to $X in 2021, waning by -2.5% against the previous year. The total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -16.1% against 2018 indices. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

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

In value terms, glass rear-view vehicle mirror production stood at $X in 2021 estimated in export price. The total production indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -13.7% against 2018 indices. The most prominent rate of growth was recorded in 2018 with an increase of 30%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Exports of Glass Rear-View Mirrors For Vehicles

Exports in South-Eastern Asia

In 2021, exports of glass rear-view mirrors for vehicles in South-Eastern Asia surged to X units, picking up by 22% against the year before. In general, exports recorded a pronounced expansion. The pace of growth appeared the most rapid in 2020 with an increase of 85%. The volume of export peaked in 2021 and is expected to retain growth in the near future.

In value terms, glass rear-view vehicle mirror exports soared to $X in 2021. Over the period under review, exports, however, recorded a perceptible curtailment. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Thailand prevails in exports structure, accounting for X units, which was approx. 91% of total exports in 2021. It was distantly followed by Vietnam (X units), creating a 4.9% share of total exports. Indonesia (X units) held a relatively small share of total exports.

Thailand was also the fastest-growing in terms of the glass rear-view mirrors for vehicles exports, with a CAGR of +5.3% from 2012 to 2021. At the same time, Vietnam (+4.3%) displayed positive paces of growth. By contrast, Indonesia (-18.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Thailand increased by +18 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest glass rear-view vehicle mirror supplier in South-Eastern Asia, comprising 84% of total exports. The second position in the ranking was held by Vietnam ($X), with a 7% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Thailand totaled -2.1%. In the other countries, the average annual rates were as follows: Vietnam (+2.1% per year) and Indonesia (-12.0% per year).

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per unit, approximately mirroring the previous year. Over the period under review, the export price, however, continues to indicate a abrupt curtailment. The pace of growth appeared the most rapid in 2019 an increase of 20% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Indonesia ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+7.2%), while the other leaders experienced a decline in the export price figures.

Imports of Glass Rear-View Mirrors For Vehicles

Imports in South-Eastern Asia

In 2021, glass rear-view vehicle mirror imports in South-Eastern Asia skyrocketed to X units, increasing by 37% compared with the previous year's figure. The total import volume increased at an average annual rate of +3.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. 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 skyrocketed to $X in 2021. The total import value increased at an average annual rate of +4.0% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 32% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, Indonesia (X units), distantly followed by Thailand (X units), Malaysia (X units), the Philippines (X units) and Vietnam (X units) represented the largest importers of glass rear-view mirrors for vehicles, together comprising 94% of total imports. Cambodia (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Cambodia (with a CAGR of +62.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest glass rear-view vehicle mirror importing markets in South-Eastern Asia were Thailand ($X), Indonesia ($X) and Vietnam ($X), together comprising 82% of total imports. Malaysia, Cambodia and the Philippines lagged somewhat behind, together comprising a further 15%.

Among the main importing countries, Cambodia, with a CAGR of +66.5%, recorded the highest growth rate of 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

The import price in South-Eastern Asia stood at $X per unit in 2021, waning by -12.1% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the import price increased by 14%. The level of import peaked at $X per unit in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+9.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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