Key Market Indicators
Iran's truck import market is projected to experience steady growth over the next five years. By 2028, the value of truck imports is expected to reach approximately $258 million, up from around $229 million in 2023. This represents an annual growth rate of 1.9% (CAGR). The demand for trucks in Iran has been on an upward trajectory since 2002, with an average annual growth rate of 2.8%. This consistent increase highlights the expanding needs of the country's transportation and logistics sectors. In contrast, Iran's truck export market has seen a significant decline. In 2017, the value of truck exports stood at about $774,000, a decrease from roughly $997,000 in 2016. This 22.4% drop from the previous year underscores ongoing challenges in the export sector. Since 2002, the supply of trucks for export from Iran has been falling at an average annual rate of 37.2%. The sharp decline points to potential issues such as domestic production inefficiencies, international trade barriers, or shifting market dynamics.