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Russia Commercial Vehicle Industry Outlook 2024 - 2028

See how Russia Commercial Vehicle performed compared to key markets such as the United States, Canada and Mexico.

Key Market Indicators

**Russian Commercial Vehicle Registration Projected to Decline by 2028** The registration of commercial vehicles in Russia is expected to decrease to approximately 170,000 units by 2028, down from around 177,000 units in 2023. This reflects an average annual decline of 0.6%. Since 2010, the Russian market has experienced a more significant yearly drop of 3.8%. In 2023, Russia ranked 22nd globally in commercial vehicle registrations, with Colombia slightly ahead at the same number of units. Canada, Mexico, and Argentina held the second, third, and fourth positions, respectively. **Russian Commercial Vehicle Production to See Modest Growth by 2028** In contrast, the production of commercial vehicles in Russia is projected to increase to nearly 92,000 units by 2028, up from about 85,000 units in 2023. This marks an average annual growth rate of 1.2%. Despite this anticipated growth, Russian commercial vehicle production has seen a significant decline since 2002, with an annual decrease of 7.4%. In 2023, Russia ranked 19th in global production, overtaken by Iran with the same number of units. Mexico, China, and Canada occupied the second, third, and fourth spots, respectively.

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Russia Commercial Vehicle Market Data and Forecasts

How much will Russia Commercial Vehicle Market grow to 2028?

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