CIS Truck Market Set to Cross $ 9 Billion by 2023
Growing construction,
logistics and mining sectors along with development in road infrastructure to
aid the growth of CIS truck market through 2023
According
to TechSci Research report, “CIS Truck Market By Vehicle Type, By Fuel Type, By
Application, By Tonnage Capacity, Competition Forecast & Opportunities,
2013–2023”, CIS truck market is projected to reach $ 9 billion by 2023,
led by growing construction activities and rising government expenditure on road
infrastructure across the CIS region. Moreover, continuous growth in mining and
logistics industries is further likely to push demand for trucks across the
region during the forecast period. Additionally, various leading OEMs are
establishing their plants for manufacturing trucks across the CIS countries,
which would further aid the growth of CIS truck market over the course of next
five years.
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spread through 106 Pages and an in-depth TOC on "CIS Truck Market"
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With an expanding volume share of over 40% in
2017, trucks with above 30 tons capacity dominated the CIS truck market,
followed by 16 tons to 30 tons capacity truck segment. Major players operating
in the CIS truck market include KAMAZ PTC, GAZ INTERNATIONAL LLC, Scania AB, MAN
Truck & Bus, JSC MAZ-MAH, etc. On the basis of vehicle type, CIS truck
market is segmented into heavy duty truck, medium duty truck and light duty
truck. Of these, heavy duty truck dominated the market with more than three-fourth
of the volume share in 2017. The dominance of these trucks is backed by their
high payload capacity than trucks of lower tonnage capacity. These trucks are efficient
for large-scale transportation of goods, which makes them best suitable for
various applications like logistics, construction, mining, etc.
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Among
countries, Russia accounted for the largest share in CIS truck market, followed
by Ukraine and Uzbekistan. Major factors driving the demand for trucks in Russia
are infrastructure and construction projects such as road expansion, along with
increasing mining activities in the country.. “With fleet owners providing
transporting solution for logistics, mining and construction sectors in the CIS
region, demand for trucks is likely to increase across the region in the coming
years. Moreover, better product offerings and rising investments in quality
products by major truck players would further contribute to the growing sales
of trucks across CIS countries during the forecast period.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“CIS Truck Market By Vehicle Type, By Fuel
Type, By Application, By Tonnage Capacity, Competition Forecast &
Opportunities, 2013–2023”
has analyzed the potential of truck
market in CIS, and provides statistics and information on market sizes,
shares and trends. The report will suffice in providing the intending clients
with cutting-edge market intelligence and help them in taking sound investment
decisions. Besides, the report also identifies and analyzes emerging trends
along with essential drivers and key challenges faced by the CIS truck market.
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