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

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

The Uruguayan glass rear-view vehicle mirror market surged to $X in 2022, jumping by 32% 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 showed a strong expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Exports of Glass Rear-View Mirrors For Vehicles

Exports from Uruguay

In 2022, the amount of glass rear-view mirrors for vehicles exported from Uruguay totaled X units, approximately mirroring 2021. Overall, exports saw a dramatic decrease. The smallest decline of -90% was in 2021. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, glass rear-view vehicle mirror exports shrank significantly to $X in 2022. Over the period under review, exports showed a abrupt downturn. The pace of growth appeared the most rapid in 2015 when exports increased by 287%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Chile (X units) was the main destination for glass rear-view vehicle mirror exports from Uruguay, with a 9,733% share of total exports. Moreover, glass rear-view vehicle mirror exports to Chile exceeded the volume sent to the second major destination, Brazil (X units), fourfold. The third position in this ranking was held by the United States (X units), with a 200% share.

From 2012 to 2021, the average annual growth rate of volume to Chile stood at +66.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (+87.0% per year) and the United States (+2.0% per year).

In value terms, Brazil ($X), the United States ($X) and Chile ($X) were the largest markets for glass rear-view vehicle mirror exported from Uruguay worldwide.

Among the main countries of destination, Brazil, with a CAGR of +98.8%, recorded 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

In 2021, the average glass rear-view vehicle mirror export price amounted to $X per unit, reducing by -23.7% against the previous year. In general, the export price continues to indicate a significant curtailment. Over the period under review, the average export prices reached the peak figure at $X per unit in 2020, and then declined sharply in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Chile ($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 (+157.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Rear-View Mirrors For Vehicles

Imports into Uruguay

In 2022, the amount of glass rear-view mirrors for vehicles imported into Uruguay skyrocketed to X units, picking up by 18% compared with the year before. In general, imports showed strong growth. The pace of growth appeared the most rapid in 2018 when imports increased by 68% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, glass rear-view vehicle mirror imports skyrocketed to $X in 2022. Overall, total imports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +3.9% 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 +114.6% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) was the main supplier of glass rear-view vehicle mirror to Uruguay, with a 108% share of total imports. Moreover, glass rear-view vehicle mirror imports from China exceeded the figures recorded by the second-largest supplier, Brazil (X units), twofold. The third position in this ranking was held by Taiwan (Chinese) (X units), with a 40% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-1.4% per year) and Taiwan (Chinese) (+0.5% per year).

In value terms, Brazil ($X), Taiwan (Chinese) ($X) and China ($X) constituted the largest glass rear-view vehicle mirror suppliers to Uruguay, together accounting for 59% of total imports. Spain, South Korea and Argentina lagged somewhat behind, together accounting for a further 5%.

Among the main suppliers, Spain, with a CAGR of +4.1%, saw 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, increasing by 9.5% against the previous year. Over the period under review, the import price, however, showed a deep slump. The pace of growth appeared the most rapid in 2017 when the average import price increased by 104%. 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 Spain ($X per unit), while the price for China ($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 (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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