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

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

The Bahraini glass rear-view vehicle mirror market declined to $X in 2022, which is down by -10% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a slight decline. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Exports of Glass Rear-View Mirrors For Vehicles

Exports from Bahrain

In 2022, the amount of glass rear-view mirrors for vehicles exported from Bahrain skyrocketed to X units, rising by 63% on 2021. In general, exports enjoyed a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, glass rear-view vehicle mirror exports surged to $X in 2022. Overall, exports posted a resilient expansion. The pace of growth was the most pronounced in 2017 with an increase of 1,364%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Saudi Arabia (X units), Singapore (X units) and Hong Kong SAR (X units) were the main destinations of glass rear-view vehicle mirror exports from Bahrain.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +8.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) remains the key foreign market for glass rear-view mirrors for vehicles exports from Bahrain, comprising 4.3% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 1.7% share of total exports. It was followed by Hong Kong SAR, with a 1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Singapore stood at -10.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+2.4% per year) and Hong Kong SAR (-22.3% per year).

Export Prices by Country

The average glass rear-view vehicle mirror export price stood at $X per unit in 2022, rising by 13% against the previous year. Overall, the export price recorded a resilient increase. 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 for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Saudi Arabia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (+43.0%), while the prices for the other major destinations experienced a decline.

Imports of Glass Rear-View Mirrors For Vehicles

Imports into Bahrain

In 2022, the amount of glass rear-view mirrors for vehicles imported into Bahrain fell remarkably to X units, declining by -15.2% compared with the year before. Overall, imports, however, showed a buoyant expansion. The growth pace was the most rapid in 2016 when imports increased by 252%. Imports peaked 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 rose rapidly to $X in 2022. Over the period under review, imports continue to indicate a deep downturn. The pace of growth appeared the most rapid in 2017 when imports increased by 107%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Japan (X units), Slovenia (X units) and China (X units) were the main suppliers of glass rear-view vehicle mirror imports to Bahrain, together accounting for 63% of total imports. The United Arab Emirates, South Korea, Saudi Arabia, the United States, Thailand and Taiwan (Chinese) lagged somewhat behind, together comprising a further 38%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +30.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of glass rear-view mirrors for vehicles to Bahrain, comprising 33% of total imports. The second position in the ranking was taken by Slovenia ($X), with an 11% share of total imports. It was followed by the United Arab Emirates, with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Japan amounted to +11.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovenia (+16.0% per year) and the United Arab Emirates (-6.2% per year).

Import Prices by Country

In 2022, the average glass rear-view vehicle mirror import price amounted to $X per unit, with an increase of 33% against the previous year. Over the period under review, the import price, however, continues to indicate a drastic downturn. 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 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per unit), while the price for Saudi Arabia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform