South-Eastern Asia: Market for Glass Rear-View Mirrors For Vehicles 2024

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

In 2023, the Southeast Asian glass rear-view vehicle mirror market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. The total consumption indicated pronounced growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2020 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2023, consumption stood 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 reduced to $X in 2023 estimated in export price. In general, production, however, enjoyed a buoyant expansion. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2023, production stood at a somewhat lower figure.

Exports of Glass Rear-View Mirrors For Vehicles

Exports in South-Eastern Asia

In 2023, the amount of glass rear-view mirrors for vehicles exported in South-Eastern Asia rose slightly to X units, growing by X% compared with the year before. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports reached the peak figure at X units in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

In value terms, glass rear-view vehicle mirror exports rose modestly to $X in 2023. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X%. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

Thailand represented the largest exporter of glass rear-view mirrors for vehicles in South-Eastern Asia, with the volume of exports finishing at X units, which was near X% of total exports in 2023. It was distantly followed by Vietnam (X units) and Indonesia (X units), together committing a X% share of total exports. The following exporters - Malaysia (X units) and Singapore (X units) - each finished at a X% share of total exports.

From 2012 to 2023, average annual rates of growth with regard to glass rear-view vehicle mirror exports from Thailand stood at X%. At the same time, Malaysia (X%), Vietnam (X%) and Singapore (X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of X% from 2012-2023. By contrast, Indonesia (X%) illustrated a downward trend over the same period. While the share of Vietnam (X p.p.) and Malaysia (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Thailand (X p.p.) and Indonesia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In Thailand, glass rear-view vehicle mirror exports declined by an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Vietnam (X% per year) and Indonesia (X% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per unit in 2023, approximately equating the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2020 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per unit), while Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced more modest paces of growth.

Imports of Glass Rear-View Mirrors For Vehicles

Imports in South-Eastern Asia

In 2023, supplies from abroad of glass rear-view mirrors for vehicles decreased by X% to X units for the first time since 2020, thus ending a two-year rising trend. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X units in 2013; however, from 2014 to 2023, imports failed to regain momentum.

In value terms, glass rear-view vehicle mirror imports contracted slightly to $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by X%. The level of import peaked at $X in 2022, and then dropped in the following year.

Imports by Country

In 2023, Indonesia (X units) represented the major importer of glass rear-view mirrors for vehicles, generating X% of total imports. Malaysia (X units) took the second position in the ranking, distantly followed by Vietnam (X units), Thailand (X units), the Philippines (X units) and Cambodia (X units). All these countries together held approx. X% share of total imports.

From 2012 to 2023, the biggest increases were recorded for Cambodia (with a CAGR of X%), 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 ($X), Vietnam ($X) and Indonesia ($X), with a combined X% share of total imports. Malaysia, Cambodia and the Philippines lagged somewhat behind, together comprising a further X%.

Among the main importing countries, the Philippines, with a CAGR of X%, 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 2023, the import price in South-Eastern Asia amounted to $X per unit, approximately mirroring the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2015 an increase of X%. The level of import peaked at $X per unit in 2022, and then declined in the following year.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform