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

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

In 2022, after four years of growth, there was significant decline in the MENA's glass rear-view vehicle mirror market, when its value decreased by -22.1% to $X. Over the period under review, consumption, however, saw a significant increase. The level of consumption peaked at $X in 2021, and then dropped remarkably in the following year.

Production of Glass Rear-View Mirrors For Vehicles in MENA

In value terms, glass rear-view vehicle mirror production declined to $X in 2022 estimated in export price. Over the period under review, production, however, showed a buoyant increase. The growth pace was the most rapid in 2014 with an increase of 144% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Glass Rear-View Mirrors For Vehicles

Exports by Country

Turkey represented the key exporter of glass rear-view mirrors for vehicles in MENA, with the volume of exports resulting at X units, which was approx. 59% of total exports in 2022. It was distantly followed by Morocco (X units), Egypt (X units) and the United Arab Emirates (X units), together generating a 35% share of total exports. Oman (X units) and Bahrain (X units) took a little share of total exports.

Exports from Turkey decreased at an average annual rate of -1.1% from 2020 to 2022. At the same time, Morocco (+396.3%), Egypt (+48.5%), Oman (+36.1%), Bahrain (+14.7%) and the United Arab Emirates (+8.3%) displayed positive paces of growth. Moreover, Morocco emerged as the fastest-growing exporter exported in MENA, with a CAGR of +396.3% from 2020-2022. From 2020 to 2022, the share of Morocco and Egypt increased by +22 and +2.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest glass rear-view vehicle mirror supplier in MENA, comprising 59% of total exports. The second position in the ranking was taken by Morocco ($X), with a 23% share of total exports. It was followed by Egypt, with a 7.1% share.

In Turkey, glass rear-view vehicle mirror exports increased at an average annual rate of +6.6% over the period from 2020-2022. In the other countries, the average annual rates were as follows: Morocco (+434.5% per year) and Egypt (+59.7% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per unit, picking up by 12% against the previous year. Over the last two-year period, it increased at an average annual rate of +7.2%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Turkey ($X per unit) and Morocco ($X per unit), while the United Arab Emirates ($X per unit) and Oman ($X per unit) were amongst the lowest.

From 2020 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+7.8%), while the other leaders experienced more modest paces of growth.

Imports of Glass Rear-View Mirrors For Vehicles

Imports in MENA

In 2022, the amount of glass rear-view mirrors for vehicles imported in MENA reduced to X units, with a decrease of -10.9% compared with 2021 figures. In general, imports, however, showed a resilient increase. The growth pace was the most rapid in 2016 when imports increased by 105% against the previous year. The volume of import peaked at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, glass rear-view vehicle mirror imports rose to $X in 2022. Overall, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 20% against the previous year. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Turkey (X units) was the major importer of glass rear-view mirrors for vehicles, comprising 34% of total imports. The United Arab Emirates (X units) ranks second in terms of the total imports with a 15% share, followed by Morocco (12%) and Israel (7.9%). Iran (X units), Algeria (X units), Egypt (X units), Iraq (X units), Oman (X units), Tunisia (X units), Kuwait (X units), Yemen (X units) and Bahrain (X units) followed a long way behind the leaders.

Imports into Turkey increased at an average annual rate of +11.1% from 2012 to 2022. At the same time, Yemen (+46.9%), Morocco (+32.0%), Iraq (+23.6%), Israel (+21.7%), the United Arab Emirates (+14.4%), Tunisia (+13.9%), Kuwait (+13.2%), Algeria (+10.5%), Iran (+9.7%), Oman (+9.3%) and Bahrain (+5.5%) displayed positive paces of growth. Moreover, Yemen emerged as the fastest-growing importer imported in MENA, with a CAGR of +46.9% from 2012-2022. By contrast, Egypt (-2.0%) illustrated a downward trend over the same period. While the share of Morocco (+9.9 p.p.), Israel (+4.3 p.p.), the United Arab Emirates (+2.2 p.p.), Iraq (+2.2 p.p.) and Yemen (+1.7 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Turkey (-4.6 p.p.) and Egypt (-10.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported glass rear-view mirrors for vehicles in MENA, comprising 35% of total imports. The second position in the ranking was taken by Morocco ($X), with a 13% share of total imports. It was followed by the United Arab Emirates, with an 11% share.

In Turkey, glass rear-view vehicle mirror imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Morocco (+18.7% per year) and the United Arab Emirates (-0.4% per year).

Import Prices by Country

The import price in MENA stood at $X per unit in 2022, surging by 17% against the previous year. In general, the import price, however, faced a abrupt descent. The most prominent rate of growth was recorded in 2017 an increase of 98% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Turkey ($X per unit) and Morocco ($X per unit), while Algeria ($X per unit) and Iraq ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (-10.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform