SUVs - Iran | Statista Market Forecast

SUVs - Iran

Iran

Highlights

Revenue in the SUVs market is projected to reach US$17bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.72%, resulting in a projected market volume of US$18bn by 2029.
SUVs market unit sales are expected to reach 403.4k vehicles in 2029.
The volume weighted average price of SUVs market in 2024 is expected to amount to US$43k.
From an international perspective it is shown that the most revenue will be generated United States (US$333bn in 2024).

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The SUVs market in Iran has been experiencing significant growth in recent years. This can be attributed to a combination of customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences in Iran have shifted towards SUVs due to their versatility and practicality. SUVs offer ample space for both passengers and cargo, making them suitable for families and individuals with active lifestyles. Additionally, SUVs are often perceived as safer and more robust vehicles, which is an important consideration for consumers in Iran.

Trends in the market have also played a role in the growth of the SUVs market in Iran. Globally, there has been a rise in demand for SUVs, and this trend has extended to Iran as well. This can be attributed to factors such as changing consumer preferences, improved fuel efficiency of SUVs, and the availability of a wide range of models and options in the market.

Local special circumstances in Iran have contributed to the growth of the SUVs market. Iran has a diverse landscape with varying terrains, including mountains, deserts, and urban areas. SUVs are well-suited for navigating these different environments, making them a popular choice among Iranian consumers.

Additionally, the government in Iran has implemented policies and regulations that have made SUVs more affordable and accessible to the general population. Underlying macroeconomic factors have also played a role in the growth of the SUVs market in Iran. The country has experienced economic growth in recent years, leading to an increase in disposable income for many Iranians.

This has allowed more consumers to afford SUVs and has contributed to the overall growth of the market. In conclusion, the SUVs market in Iran has been growing due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The versatility and practicality of SUVs, along with global trends and local factors, have made them a popular choice among Iranian consumers.

As the economy continues to grow and consumer preferences evolve, the SUVs market in Iran is expected to continue its upward trajectory.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of new passenger cars. Data on the specifications of the sold vehicles is based on the base models of the respective makes.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use company reports and websites, vehicle registries, car dealers, and environment agencies among other sources. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP and car stock per capita. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, we use the ARIMA model for the Passenger Cars market. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).