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

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

The Iranian glass rear-view vehicle mirror market shrank slightly to $X in 2022, waning by -3.3% 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, saw a pronounced expansion. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Exports of Glass Rear-View Mirrors For Vehicles

Exports from Iran

After ten years of growth, shipments abroad of glass rear-view mirrors for vehicles decreased by -28.9% to X units in 2022. Overall, exports, however, saw a significant increase. The growth pace was the most rapid in 2021 when exports increased by 138% against the previous year. As a result, the exports reached the peak of X units, and then fell rapidly in the following year.

In value terms, glass rear-view vehicle mirror exports reduced remarkably to $X in 2022. In general, exports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 2,938%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

India (X units) was the main destination for glass rear-view vehicle mirror exports from Iran, with a 369% share of total exports. Moreover, glass rear-view vehicle mirror exports to India exceeded the volume sent to the second major destination, Turkey (X units), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to India amounted to +97.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+30.2% per year) and Oman (0.0% per year).

In value terms, India ($X) remains the key foreign market for glass rear-view mirrors for vehicles exports from Iran, comprising 25% of total exports. The second position in the ranking was held by Turkey ($X), with a 4.7% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to India totaled +79.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+12.4% per year) and Oman (0.0% per year).

Export Prices by Country

In 2021, the average glass rear-view vehicle mirror export price amounted to $X per unit, surging by 3% against the previous year. Overall, the export price posted tangible growth. As a result, the export price reached 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 Turkey ($X per unit), while the average price for exports to India ($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 Belarus (+16.6%), while the prices for the other major destinations experienced a decline.

Imports of Glass Rear-View Mirrors For Vehicles

Imports into Iran

In 2022, approx. X units of glass rear-view mirrors for vehicles were imported into Iran; waning by -1.9% compared with the previous year's figure. In general, imports, however, posted a prominent expansion. The pace of growth was the most pronounced in 2019 with an increase of 598% against the previous year. As a result, imports attained the peak of X units. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, glass rear-view vehicle mirror imports fell to $X in 2022. Over the period under review, imports saw a pronounced decrease. The most prominent rate of growth was recorded in 2019 when imports increased by 385%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest glass rear-view vehicle mirror supplier to Iran, accounting for a 51% share of total imports. It was followed by Turkey (X units), with a 1.3% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -20.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-33.8% per year) and Taiwan (Chinese) (-59.8% per year).

In value terms, China ($X) constituted the largest supplier of glass rear-view mirrors for vehicles to Iran, comprising 16% of total imports. The second position in the ranking was held by Turkey ($X), with a 0.9% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China amounted to -15.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-34.4% per year) and Taiwan (Chinese) (-57.6% per year).

Import Prices by Country

In 2021, the average glass rear-view vehicle mirror import price amounted to $X per unit, increasing by 9.5% against the previous year. In general, the import price, however, recorded a abrupt setback. The most prominent rate of growth was recorded in 2017 an increase of 104% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Turkey ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+15.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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