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

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

The Estonian glass rear-view vehicle mirror market reduced modestly to $X in 2022, waning by -4% 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, however, enjoyed a prominent increase. Glass rear-view vehicle mirror consumption peaked 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 Estonia

Glass rear-view vehicle mirror exports from Estonia totaled X units in 2022, picking up by 8.2% compared with the previous year. Overall, exports, however, recorded a noticeable reduction. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, glass rear-view vehicle mirror exports rose significantly to $X in 2022. In general, exports, however, showed a slight slump. The most prominent rate of growth was recorded in 2017 when exports increased by 65% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Finland (X units), Latvia (X units) and Germany (X units) were the main destinations of glass rear-view vehicle mirror exports from Estonia.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +106.0%), while the other leaders experienced more modest paces of growth.

In value terms, Finland ($X), Latvia ($X) and Lithuania ($X) appeared to be the largest markets for glass rear-view vehicle mirror exported from Estonia worldwide, together comprising 72% of total exports. Russia, Poland, Germany and Norway lagged somewhat behind, together comprising a further 21%.

In terms of the main countries of destination, Germany, with a CAGR of +78.1%, saw the highest rates of growth with regard to 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 2021, with an increase of 2.5% against the previous year. Over the period under review, the export price saw perceptible growth. 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 Lithuania ($X per unit), while the average price for exports to Germany ($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 Lithuania (+5.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Rear-View Mirrors For Vehicles

Imports into Estonia

In 2022, imports of glass rear-view mirrors for vehicles into Estonia declined to X units, falling by -5.8% against the year before. Overall, imports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 125%. 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 totaled $X in 2022. Over the period under review, total imports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.3% 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 +24.2% against 2020 indices. The growth pace was the most rapid in 2017 when imports increased by 34% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

Poland (X units), Latvia (X units) and Germany (X units) were the main suppliers of glass rear-view vehicle mirror imports to Estonia, together comprising 46% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Latvia (with a CAGR of +55.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest glass rear-view vehicle mirror suppliers to Estonia were Poland ($X), Finland ($X) and Latvia ($X), together comprising 56% of total imports. Sweden, Lithuania, Germany, Belgium, China, the UK, France, Italy, Turkey and Spain lagged somewhat behind, together accounting for a further 35%.

In terms of the main suppliers, Lithuania, with a CAGR of +45.7%, 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 2021, the average glass rear-view vehicle mirror import price amounted to $X per unit, rising by 9.5% against the previous year. In general, the import price, however, saw a deep downturn. The pace of growth appeared the most rapid in 2017 an increase of 104%. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, 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 ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+10.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform