Iran Construction Equipment Market 2022-28 

Iran accounted for 25% of oil reserves in the Middle East and 12% of the world in 2020. Its crude oil production reached a 30-year low in 2020 due to the global Covid-19 pandemic. 
The country's economy contracted by 7% and the construction industry was adversely impacted due to a shortage of labor and raw material, according to a new report released by Research and Markets titled "Iran Construction Equipment Market - Strategic Assessment and Forecast 2022-28".
In 2022, the Iranian government announced 48 industrial and infrastructure projects worth about $19 billion to uplift the economy post-pandemic. The Iranian government aims to complete over 3,900 km of new railroads and roads by March 2022 to boost economic activities and increase investments in energy, oil and gas, petrochemicals, infrastructure and industrial sectors. 
Iran witnessed an investment of $78.9 million in 2021 to improve roads, railroad network and construction of welfare service complexes.