Iran’s Auto Parts Makers Target $700 Million Market Expansion
Domestic Manufacturers Eye Growth Amid Rising Demand and Industrial Development
Iran, PUREWILAYAH.COM - Iran’s auto parts manufacturers are setting their sights on a $700 million market opportunity, according to recent industry reports. The sector, a key pillar of the country’s industrial economy, is poised for expansion as local producers ramp up output to meet growing domestic and regional demand.
With Iran’s automotive industry undergoing modernisation and increased investment in domestic production, parts suppliers are positioning themselves to capitalise on this upward trend. Industry leaders highlight advancements in technology and manufacturing efficiency as driving forces behind the sector’s potential growth.
Experts suggest that achieving this $700 million target could further reduce reliance on imports, strengthen Iran’s self-sufficiency in auto manufacturing, and create new job opportunities. The push aligns with broader economic strategies aimed at boosting non-oil exports and enhancing industrial competitiveness.
As global supply chains evolve, Iranian auto parts makers are also exploring export opportunities in neighbouring markets, where demand for affordable, high-quality components continues to rise. The coming years will be critical in determining whether the sector can secure its envisioned $700 million market share and solidify Iran’s role as a regional automotive hub. (PW)
Source: PressTV