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

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

The Luxembourg glass rear-view vehicle mirror market shrank to $X in 2022, with a decrease of -7.6% 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, showed a buoyant increase. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Exports of Glass Rear-View Mirrors For Vehicles

Exports from Luxembourg

In 2022, shipments abroad of glass rear-view mirrors for vehicles decreased by -2% to X units for the first time since 2011, thus ending a ten-year rising trend. Over the period under review, exports, however, showed a modest increase. The most prominent rate of growth was recorded in 2021 with an increase of 4.2% against the previous year. As a result, the exports attained the peak of X units, and then reduced modestly in the following year.

In value terms, glass rear-view vehicle mirror exports declined to $X in 2022. In general, exports, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2017 with an increase of 222%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Belgium (X units) was the main destination for glass rear-view vehicle mirror exports from Luxembourg, with a 721% share of total exports. Moreover, glass rear-view vehicle mirror exports to Belgium exceeded the volume sent to the second major destination, France (X units), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Belgium amounted to +36.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+19.0% per year) and Germany (-15.8% per year).

In value terms, Belgium ($X) remains the key foreign market for glass rear-view mirrors for vehicles exports from Luxembourg, comprising 91% of total exports. The second position in the ranking was taken by France ($X), with a 10% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Belgium stood at +34.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+7.7% per year) and Germany (-17.9% per year).

Export Prices by Country

The average glass rear-view vehicle mirror export price stood at $X per unit in 2021, surging by 2.7% against the previous year. Over the period under review, the export price showed 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 Belgium ($X per unit), while the average price for exports to France ($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 Belgium (-1.3%), while the prices for the other major destinations experienced a decline.

Imports of Glass Rear-View Mirrors For Vehicles

Imports into Luxembourg

In 2022, imports of glass rear-view mirrors for vehicles into Luxembourg declined to X units, waning by -6.4% compared with the year before. In general, imports, however, showed strong growth. The pace of growth appeared the most rapid in 2016 when imports increased by 157%. Over the period under review, imports attained the peak figure 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 dropped to $X in 2022. Overall, total imports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +3.7% 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 +13.7% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 27% against the previous year. Imports peaked at $X in 2021, and then contracted in the following year.

Imports by Country

Belgium (X units), Germany (X units) and France (X units) were the main suppliers of glass rear-view vehicle mirror imports to Luxembourg.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +37.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), France ($X) and Germany ($X) appeared to be the largest glass rear-view vehicle mirror suppliers to Luxembourg, with a combined 97% share of total imports. The Netherlands lagged somewhat behind, accounting for a further 1.1%.

The Netherlands, with a CAGR of +28.2%, recorded the highest growth rate of 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

The average glass rear-view vehicle mirror import price stood at $X per unit in 2021, surging by 9.5% against the previous year. Overall, the import price, however, saw a deep slump. The most prominent rate of growth was recorded in 2017 when the average import price increased by 104%. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat 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 France ($X per unit), while the price for the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+0.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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