Middle East: Market for Glass Rear-View Mirrors For Vehicles 2024

Market Size for Glass Rear-View Mirrors For Vehicles in the Middle East

After four years of growth, the Middle Eastern glass rear-view vehicle mirror market decreased by -22.6% to $X in 2022. In general, consumption, however, enjoyed a significant increase. The level of consumption peaked at $X in 2021, and then declined dramatically in the following year.

Production of Glass Rear-View Mirrors For Vehicles in the Middle East

In value terms, glass rear-view vehicle mirror production fell to $X in 2022 estimated in export price. Over the period under review, production, however, showed a strong increase. The pace of growth was the most pronounced in 2014 with an increase of 144% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Glass Rear-View Mirrors For Vehicles

Exports by Country

Turkey prevails in exports structure, finishing at X units, which was near 84% of total exports in 2022. It was distantly followed by the United Arab Emirates (X units), making up a 7.6% share of total exports. Oman (X units) and Bahrain (X units) followed a long way behind the leaders.

Exports from Turkey decreased at an average annual rate of -1.1% from 2020 to 2022. At the same time, Oman (+36.1%), Bahrain (+14.7%) and the United Arab Emirates (+8.3%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +36.1% from 2020-2022. While the share of Oman (+1.6 p.p.) increased significantly in terms of the total exports from 2020-2022, the share of Turkey (-4.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest glass rear-view vehicle mirror supplier in the Middle East, comprising 85% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 7% share of total exports. It was followed by Oman, with a 3.4% share.

In Turkey, glass rear-view vehicle mirror exports expanded at an average annual rate of +6.6% over the period from 2020-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (+9.1% per year) and Oman (+37.3% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per unit, rising by 12% against the previous year. Over the last two-year period, it increased at an average annual rate of +7.0%. 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 ($X per unit) and Bahrain ($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 the Middle East

Glass rear-view vehicle mirror imports dropped sharply to X units in 2022, with a decrease of -16.5% on 2021 figures. Over the period under review, imports, however, continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 101%. Over the period under review, imports reached the peak figure at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, glass rear-view vehicle mirror imports contracted slightly to $X in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 19% against the previous year. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Turkey (X units) was the largest importer of glass rear-view mirrors for vehicles, comprising 45% of total imports. The United Arab Emirates (X units) took a 20% share (based on physical terms) of total imports, which put it in second place, followed by Israel (10%), Iran (5.4%) and Iraq (4.7%). Oman (X units) and Kuwait (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, Iraq (+23.6%), Israel (+21.7%), the United Arab Emirates (+14.4%), Kuwait (+13.2%), Iran (+9.7%) and Oman (+9.3%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +23.6% from 2012-2022. Israel (+5.6 p.p.), Iraq (+2.9 p.p.) and the United Arab Emirates (+2.7 p.p.) significantly strengthened its position in terms of the total imports, while Oman, Iran and Turkey saw its share reduced by -1.5%, -1.7% and -6.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported glass rear-view mirrors for vehicles in the Middle East, comprising 45% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 14% share of total imports. It was followed by Israel, with a 10% share.

In Turkey, glass rear-view vehicle mirror imports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (-0.4% per year) and Israel (+9.4% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per unit, rising by 17% against the previous year. In general, the import price, however, faced a abrupt decrease. The pace of growth appeared the most rapid in 2017 when the import price increased by 96% against the previous year. Over the period under review, import prices reached the maximum 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 ($X per unit) and Israel ($X per unit), while Iraq ($X per unit) and Iran ($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

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