Automobile Market in Iran Size to grow by USD 20.22 billion between 2024-2028
According to a research report “ Automobile Market in Iran” by Vehicle Type (Passenger vehicles, Commercial vehicles) Type (Conventional, EV) Class Type (Economy, Premium) Geography (Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 20.22 billion, at a CAGR of 9.6% during the forecast period. Iranian automakers are actively investing in domestic production expansion and integrating advanced technologies to manufacture vehicles with enhanced features and superior performance. The global shift towards electric vehicles is influencing the Iranian automobile market, leading to the development of electric and autonomous vehicles. These autonomous vehicles are equipped with cutting-edge sensor technologies, including lidar, radar, and cameras, enabling real-time monitoring of the vehicle's surroundings. This results in heightened safety features, reducing the likelihood of human error-induced accidents. Furthermore, autonomous vehicles' ability to communicate with each other and manage traffic collectively leads to reduced congestion and optimized overall traffic management.
Browse market data tables, figures, and in-depth TOC on “Automobile Market in Iran” by Vehicle Type (Passenger vehicles, Commercial vehicles) Type (Conventional, EV) Class Type (Economy, Premium) Geography (Middle East and Africa) Global Forecast to 2028. Download Free Sample
By Vehicle Type, the Passenger vehicles segment is projected to dominate the market size in 2024
The automobile market in Iran primarily consists of traditional Internal Combustion Engine (ICE) vehicles, which are powered by gasoline or diesel fuel. These vehicles represent a significant portion of the market, particularly in emerging economies where affordability and purchasing power are key considerations. In contrast, alternative powertrain technologies, such as electric vehicles (EVs) and hybrid vehicles, offer advanced environmental benefits but may be less accessible due to limited charging infrastructure and higher upfront costs. Given Iran's current infrastructure, ICE vehicles provide consumers with the convenience of a well-established network of gasoline and diesel filling stations. Furthermore, ICE vehicles typically offer longer driving ranges than some EV models, alleviating concerns related to range anxiety for consumers requiring extensive travel capabilities.
By Type, Conventional segment is expected to hold the largest market size for the year 2024
The economic climate significantly influences the demand for passenger vehicles in Iran. Factors such as GDP growth, inflation rates, and consumer purchasing power are key determinants of consumer readiness to invest in new automobiles. Iran's automotive industry is well-established, with prominent domestic manufacturers like Iran Khodro and SAIPA contributing to the market. Iran's lower gasoline prices, compared to the global average, make it an attractive market for fuel-efficient vehicles, particularly diesel-based passenger cars. However, stricter emission regulations and negative public perception towards diesel vehicles may impact their popularity. Economic stability and growth are crucial for the continued growth of the Iranian automobile market.
Middle East and Africa is forecasted to hold the largest market size by region in 2024
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The Automobile Market in Iran growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The automobile market in Iran is witnessing significant growth, particularly in the areas of manufacturing automation and improved molding techniques. This trend is reflected in various industries, including the protective packaging market. Pregis, a leading packaging solutions provider, is making strides in Iran by offering eco-friendly and energy-efficient solutions for residential and commercial applications. At Smart Packaging Europe, the focus is on NetZero Energy and sustainable solutions. In Vancouver, Canada, companies like Pregis are investing in the production of disposable cups and insulation products using polystyrene beads and thermoplastic materials. These lightweight insulation products are ideal for automobile body panels, wind turbine parts, and appliance housings. The value of construction in Iran is increasing, with a focus on energy efficiency and sustainability. In Vancouver's False Creek Flats, Pregis is producing lightweight building blocks for non-residential and residential construction. These blocks offer excellent thermal insulation, fire resistance, water resistance, and mechanical properties. The use of formwork and thermo-acoustic insulation is also gaining popularity in Iran's construction sector. Floors, roof systems, external walls, and envelope windows are being insulated with lightweight, eco-friendly materials that offer superior insulation and reduce maintenance costs. The board thickness, thermal conductivity, and recyclability of these products are key considerations for housing renovation projects.
Market Research Overview
The automobile market in Iran is witnessing significant advancements in manufacturing automation and improved molding processes, leading to the production of high-quality automobile body panels, envelope windows, and appliance housings. Companies like Pregis are at the forefront of this trend, providing smart packaging solutions for the automotive industry. The protective packaging market in Iran is also growing, with a focus on energy-efficient, lightweight insulation products. These products, made from thermoplastic materials like polystyrene beads and graphite, are ideal for insulating wind turbine parts and automobile components. The packaging sector in Iran is also embracing smart packaging technologies, with an emphasis on net-zero energy solutions. For instance, the use of IR light in thermal insulation is gaining popularity, as it reduces energy consumption and improves mechanical properties. Moreover, the residential and commercial sectors in Iran are increasingly adopting energy-efficient and recyclable alternatives to traditional disposable cups. This trend is expected to have a ripple effect on the automobile industry, with supply chain disruptions potentially arising from the increased demand for green alternatives. Smart Packaging Europe and other industry events are providing a platform for companies to showcase their innovative solutions, further driving the growth of the automobile market in Iran. Overall, the future of the automobile industry in Iran looks promising, with a focus on sustainability, energy efficiency, and advanced manufacturing processes.
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