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

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

The Croatian glass rear-view vehicle mirror market was estimated at $X in 2022, therefore, remained relatively stable 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). Over the period under review, consumption, however, continues to indicate prominent growth. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Exports of Glass Rear-View Mirrors For Vehicles

Exports from Croatia

After ten years of growth, overseas shipments of glass rear-view mirrors for vehicles decreased by -13.2% to X units in 2022. In general, exports, however, continue to indicate a prominent increase. The growth pace was the most rapid in 2021 with an increase of 36% against the previous year. As a result, the exports reached the peak of X units, and then declined in the following year.

In value terms, glass rear-view vehicle mirror exports soared to $X in 2022. Over the period under review, exports, however, recorded a strong increase. The pace of growth appeared the most rapid in 2014 when exports increased by 178% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

Slovenia (X units), Bosnia and Herzegovina (X units) and Italy (X units) were the main destinations of glass rear-view vehicle mirror exports from Croatia.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of +39.3%), while the other leaders experienced more modest paces of growth.

In value terms, Slovenia ($X) remains the key foreign market for glass rear-view mirrors for vehicles exports from Croatia, comprising 32% of total exports. The second position in the ranking was taken by Bosnia and Herzegovina ($X), with a 13% share of total exports. It was followed by Serbia, with a 13% share.

From 2012 to 2021, the average annual growth rate of value to Slovenia totaled +46.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (+10.5% per year) and Serbia (+3.1% per year).

Export Prices by Country

In 2021, the average glass rear-view vehicle mirror export price amounted to $X per unit, rising by 2.6% against the previous year. Over the period under review, the export price enjoyed a perceptible expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Serbia ($X per unit), while the average price for exports to Bosnia and Herzegovina ($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 Serbia (+23.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Rear-View Mirrors For Vehicles

Imports into Croatia

In 2022, approx. X units of glass rear-view mirrors for vehicles were imported into Croatia; with a decrease of -3.9% compared with 2021 figures. Over the period under review, imports, however, continue to indicate prominent growth. The most prominent rate of growth was recorded in 2016 with an increase of 122%. Over the period under review, imports reached the peak figure 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 notably to $X in 2022. In general, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +30.6% against 2020 indices. The growth pace was the most rapid in 2018 when imports increased by 24% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2021, Poland (X units) constituted the largest supplier of glass rear-view vehicle mirror to Croatia, with a 42% share of total imports. Moreover, glass rear-view vehicle mirror imports from Poland exceeded the figures recorded by the second-largest supplier, the Netherlands (X units), threefold. The third position in this ranking was taken by Germany (X units), with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Poland stood at +36.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+60.0% per year) and Germany (-0.7% per year).

In value terms, Poland ($X), Germany ($X) and Slovenia ($X) constituted the largest glass rear-view vehicle mirror suppliers to Croatia, together comprising 53% of total imports. The Netherlands, Austria, Italy, Spain, the Czech Republic and Taiwan (Chinese) lagged somewhat behind, together comprising a further 30%.

The Netherlands, with a CAGR of +48.1%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers 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, picking up by 9.5% against the previous year. Overall, the import price, however, recorded a abrupt decrease. The pace of growth was the most pronounced in 2017 when the average import price increased by 104% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+9.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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