Key Market Indicators
Iceland's commercial vehicle registration is projected to decline to approximately 1,540 units by 2028, down from around 1,600 units in 2023. This marks an average annual decrease of 0.5%. Since 2010, Iceland's market for commercial vehicle registration has experienced a sharper decline, averaging a 4.2% drop each year. In 2023, Iceland was ranked 95th globally in commercial vehicle registration. Uganda edged ahead of Iceland, also with 1,600 units registered. In the broader context, Canada, Mexico, and Argentina secured the second, third, and fourth positions, respectively, in the global ranking for commercial vehicle registration.
