Market for Agricultural, Construction and Industrial Machinery Tire in Iran
Market Overview
The Iranian market for tyres for agriculture, forestry, construction, industry and other off the road vehicles shrank remarkably to $
in , which is down by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a abrupt contraction. As a result, consumption attained the peak level of $. From 2017 to , the growth of the market remained at a somewhat lower figure.
in , which is down by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a abrupt contraction. As a result, consumption attained the peak level of $. From 2017 to , the growth of the market remained at a somewhat lower figure.Consumption
For the third consecutive year, Iran recorded decline in consumption of tyres for agriculture, forestry, construction, industry and other off the road vehicles, which decreased by -% to units in . In general, consumption continues to indicate a abrupt setback. Over the period under review, consumption of tyres for agriculture, forestry, construction, industry and other off road vehicles reached the maximum volume at units in 2016; however, from 2017 to , consumption stood at a somewhat lower figure.
The revenue of the market for tyres for agriculture, forestry, construction, industry and other off the road vehicles in Iran fell to $ in , with a decrease of -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a drastic downturn. As a result, consumption attained the peak level of $. From 2017 to , the growth of the market remained at a lower figure.
% to units in . In general, consumption continues to indicate a abrupt setback. Over the period under review, consumption of tyres for agriculture, forestry, construction, industry and other off road vehicles reached the maximum volume at units in 2016; however, from 2017 to , consumption stood at a somewhat lower figure.The revenue of the market for tyres for agriculture, forestry, construction, industry and other off the road vehicles in Iran fell to $
in , with a decrease of -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a drastic downturn. As a result, consumption attained the peak level of $. From 2017 to , the growth of the market remained at a lower figure.Market Forecast
Depressed by shrinking demand for agricultural, construction and industrial machinery tire in Iran, the market is expected to continue its downward consumption trend over the next eight-year period. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to units by the end of .
In value terms, the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .
% for the period from to , which is projected to depress the market volume to units by the end of .In value terms, the market is forecast to contract with an anticipated CAGR of -
% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .Market Structure
Agricultural, construction and industrial machinery tire market in Iran consists almost entirely of imported products.
Trade Balance
Iran remains a net importer of agricultural, construction and industrial machinery tire; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
. In , there was a significant trade deficit of units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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