Overview of the Global Market for Glass Rear-View Mirrors For Vehicles

Market Size for Glass Rear-View Mirrors For Vehicles

The global glass rear-view vehicle mirror market contracted slightly to $X in 2022, with a decrease of -2.1% against the previous year. In general, consumption continues to indicate a strong expansion. Over the period under review, the global market reached the maximum level at $X in 2021, and then contracted slightly in the following year.

Production of Glass Rear-View Mirrors For Vehicles

In value terms, glass rear-view vehicle mirror production declined to $X in 2022 estimated in export price. Overall, production, however, showed prominent growth. The growth pace was the most rapid in 2018 with an increase of 59%. Global production peaked 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 by Country

In 2022, the United States (X units), Germany (X units), China (X units) and Hungary (X units) was the major exporter of glass rear-view mirrors for vehicles in the world, comprising 58% of total export. Taiwan (Chinese) (X units) took a 6% share (based on physical terms) of total exports, which put it in second place, followed by Spain (4.9%) and Mexico (4.7%). Poland (X units), the UK (X units), Slovakia (X units), France (X units), South Korea (X units) and Belgium (X units) followed a long way behind the leaders.

From 2020 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +17.2%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the largest glass rear-view vehicle mirror supplier worldwide, comprising 37% of global exports. The second position in the ranking was held by Germany ($X), with a 13% share of global exports. It was followed by China, with a 12% share.

In the United States, glass rear-view vehicle mirror exports expanded at an average annual rate of +7.1% over the period from 2020-2022. In the other countries, the average annual rates were as follows: Germany (+7.3% per year) and China (+22.8% per year).

Export Prices by Country

In 2022, the average glass rear-view vehicle mirror export price amounted to $X per unit, with an increase of 5% against the previous year. Over the last two-year period, it increased at an average annual rate of +2.8%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while Poland ($X per unit) was amongst the lowest.

From 2020 to 2022, the most notable rate of growth in terms of prices was attained by China (+12.8%), while the other global leaders experienced more modest paces of growth.

Imports of Glass Rear-View Mirrors For Vehicles

Imports

In 2022, global glass rear-view vehicle mirror imports expanded rapidly to X units, growing by 6.7% compared with the previous year's figure. Overall, imports showed a buoyant increase. The pace of growth was the most pronounced in 2016 when imports increased by 118%. Over the period under review, global imports reached the peak figure at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, glass rear-view vehicle mirror imports declined to $X in 2022. The total import value increased at an average annual rate of +2.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 13% against the previous year. Global imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X units), distantly followed by Germany (X units), China (X units) and Japan (X units) represented the key importers of glass rear-view mirrors for vehicles, together generating 50% of total imports. Slovakia (X units), Canada (X units), the Czech Republic (X units), Belgium (X units), South Korea (X units), Mexico (X units), France (X units), Russia (X units) and Sweden (X units) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +29.6%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, Germany ($X), the United States ($X) and China ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 34% share of global imports.

China, with a CAGR of +11.0%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average glass rear-view vehicle mirror import price amounted to $X per unit, which is down by -8.3% against the previous year. Overall, the import price saw a abrupt contraction. The most prominent rate of growth was recorded in 2017 an increase of 104% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mexico ($X per unit), while the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (-10.1%), while the other global leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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