China: Market for Glass Rear-View Mirrors For Vehicles 2024

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

The Chinese glass rear-view vehicle mirror market rose slightly to $X in 2022, increasing by X% against the previous year. Overall, consumption, however, continues to indicate a noticeable contraction. Glass rear-view vehicle mirror consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Glass Rear-View Mirrors For Vehicles in China

In value terms, glass rear-view vehicle mirror production declined slightly to $X in 2022 estimated in export price. In general, production showed a noticeable decrease. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

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Exports of Glass Rear-View Mirrors For Vehicles

Exports from China

In 2022, glass rear-view vehicle mirror exports from China totaled X units, almost unchanged from the previous year's figure. Over the period under review, exports showed a abrupt curtailment. The smallest decline of X% was in 2019. Over the period under review, the exports hit record highs at X units in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, glass rear-view vehicle mirror exports rose markedly to $X in 2022. Overall, total exports indicated a buoyant increase 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, exports increased by X% against 2017 indices. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

Exports by Country

The United States (X units), South Korea (X units) and the Philippines (X units) were the main destinations of glass rear-view vehicle mirror exports from China, together accounting for X% of total exports.

From 2018 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of X%), while the other leaders experienced a decline.

In value terms, the largest markets for glass rear-view vehicle mirror exported from China were South Korea ($X), the United States ($X) and Japan ($X), with a combined X% share of total exports.

Among the main countries of destination, South Korea, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average glass rear-view vehicle mirror export price stood at $X per unit in 2022, approximately equating the previous year. In general, the export price continues to indicate a significant expansion. The pace of growth appeared the most rapid in 2019 when the average export price decreased by X%. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per unit), while the average price for exports to Colombia ($X per unit) was amongst the lowest.

From 2018 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Rear-View Mirrors For Vehicles

Imports into China

In 2022, imports of glass rear-view mirrors for vehicles into China totaled X units, remaining constant against the year before. In general, imports recorded a significant increase. The smallest decline of X% was in 2019. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, glass rear-view vehicle mirror imports dropped to $X in 2022. Overall, imports continue to indicate resilient growth. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, imports attained the maximum at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, the United States (X units) constituted the largest glass rear-view vehicle mirror supplier to China, accounting for a X% share of total imports. Moreover, glass rear-view vehicle mirror imports from the United States exceeded the figures recorded by the second-largest supplier, Germany (X units), fourfold. The third position in this ranking was held by Hungary (X units), with an X% share.

From 2018 to 2022, the average annual rate of growth in terms of volume from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Hungary (X% per year).

In value terms, the United States ($X) constituted the largest supplier of glass rear-view mirrors for vehicles to China, comprising X% of total imports. The second position in the ranking was taken by Germany ($X), with an X% share of total imports. It was followed by Hungary, with a X% share.

From 2018 to 2022, the average annual growth rate of value from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Hungary (X% per year).

Import Prices by Country

In 2022, the average glass rear-view vehicle mirror import price amounted to $X per unit, stabilizing at the previous year. Overall, the import price recorded a dramatic decline. The most prominent rate of growth was recorded in 2019 when the average import price decreased by X% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2018; however, from 2019 to 2022, 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 UK ($X per unit), while the price for France ($X per unit) was amongst the lowest.

From 2018 to 2022, the most notable rate of growth in terms of prices was attained by the UK (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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