Key Market Indicators
Azerbaijan's commercial vehicle registration is projected to decline significantly over the next five years. By 2028, the number of registered commercial vehicles in the country is expected to fall to approximately 426 units, down from 558 units in 2023. This represents an annual compound growth rate (CAGR) decline of 4.2%. Since 2010, the Azerbaijani market has experienced a steady decrease, averaging a 7% drop per year. In the current year, Azerbaijan is ranked 113th globally in terms of commercial vehicle registrations. Notably, the Democratic Republic of the Congo has surpassed Azerbaijan, also recording 558 units in 2023. Leading the global rankings for commercial vehicle registrations are Canada, Mexico, and Argentina, occupying the second, third, and fourth positions, respectively.
