Turkey: Market for Glass Rear-View Mirrors For Vehicles 2023

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

In 2022, the Turkish glass rear-view vehicle mirror market decreased by -23% to $X for the first time since 2011, thus ending a ten-year rising trend. Overall, consumption, however, recorded significant growth. As a result, consumption attained the peak level of $X, and then contracted rapidly in the following year.

Production of Glass Rear-View Mirrors For Vehicles in Turkey

In value terms, glass rear-view vehicle mirror production declined to $X in 2022 estimated in export price. Overall, production, however, saw a strong increase. The most prominent rate of growth was recorded in 2014 when the production volume increased by 144% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Glass Rear-View Mirrors For Vehicles

Exports from Turkey

After ten years of growth, overseas shipments of glass rear-view mirrors for vehicles decreased by -11.5% to X units in 2022. Overall, exports showed a mild curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 11%. As a result, the exports reached the peak of X units, and then contracted in the following year.

In value terms, glass rear-view vehicle mirror exports reached $X in 2022. In general, exports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2018 with an increase of 34%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

France (X units), Russia (X units) and Germany (X units) were the main destinations of glass rear-view vehicle mirror exports from Turkey.

From 2012 to 2021, the biggest increases were recorded for Japan (with a CAGR of +63.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X) remains the key foreign market for glass rear-view mirrors for vehicles exports from Turkey, comprising 27% of total exports. The second position in the ranking was held by Germany ($X), with a 12% share of total exports. It was followed by Russia, with a 9.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to France amounted to +28.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+1.8% per year) and Russia (+6.1% per year).

Export Prices by Country

In 2021, the average glass rear-view vehicle mirror export price amounted to $X per unit, rising by 2.4% against the previous year. In general, the export price saw a pronounced expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to Russia ($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 Slovenia (+6.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Rear-View Mirrors For Vehicles

Imports into Turkey

In 2022, approx. X units of glass rear-view mirrors for vehicles were imported into Turkey; shrinking by -23.7% against the year before. Over the period under review, imports, however, saw resilient growth. The pace of growth was the most pronounced in 2016 with an increase of 118% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, glass rear-view vehicle mirror imports expanded slightly to $X in 2022. Overall, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 31%. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of glass rear-view vehicle mirror to Turkey, with a 56% share of total imports. Moreover, glass rear-view vehicle mirror imports from China exceeded the figures recorded by the second-largest supplier, Slovakia (X units), threefold. The third position in this ranking was held by Germany (X units), with a 15% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovakia (+49.0% per year) and Germany (-5.3% per year).

In value terms, China ($X), the United States ($X) and Slovakia ($X) appeared to be the largest glass rear-view vehicle mirror suppliers to Turkey, with a combined 54% share of total imports.

Among the main suppliers, Slovakia, with a CAGR of +32.5%, 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 2021, the average glass rear-view vehicle mirror import price amounted to $X per unit, rising by 9.5% against the previous year. In general, the import price, however, saw a abrupt descent. The pace of growth appeared the most rapid in 2017 an increase of 104% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Czech Republic ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+17.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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