Russia Tire Sales to Surpass 90 Million Unit Sales by 2025
Demand for tires in Russia
is expected to increase at a moderate pace owing to expanding vehicle fleet
size
According
to TechSci Research report, “Russia
Tire Market By Vehicle Type, By Demand Category, By Radial vs Bias, By
Summer Tire vs Winter Tire, By Region, Competition, Forecast &
Opportunities, 2025”, tire market in Russia is projected to cross 90
million unit sales by 2025, on account of recovering automobile sales,
expanding automobile fleet size and consistently increasing tire prices in the
country. Moreover, Russia’s Gross National Income (GNI) per capita has been
witnessing a consistent rise over the last 10 years, which in turn has positively
impacted the purchasing power of consumers in the country. Moreover, with
expanding population base, rising purchasing power and growing infrastructural
development, demand for tires in the country is expected to grow through 2025.
Browse 27 market data Figures spread through 70
Pages and an in-depth TOC on "Russia Tire Market"
https://www.techsciresearch.com/report/russia-tire-market/4348.html
In
2019, Russia tire market has dominated by passenger car tire segment, followed
by medium & heavy commercial vehicle, light commercial vehicle, OTR vehicle
and two-wheelers tire segments. Few of the prominent tire manufacturing
companies in Russia include Michelin Russia and CIS, Continental Kaluga Limited
Liability Company, Hankook Tire Rus Limited Liability Company, Bridgestone
C.I.S Limited Liability Company, Nizhnekamskshina Joint Stock Company, Pirelli
Tyre Russia Limited Liability Company, Nokian Tyres PLC, Altai Tyre Open Joint
Stock Company, Belshina Open Joint Stock Company, among others. In 2019,
Central region accounted for the largest market share in Russia tire market,
followed by Volga Region, South Region & Crimean Region, Ural Region, North
Region, Siberian Region, North-West Region and Eastern Region.
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“Increasing
per capita income is the major factor fuelling demand for passenger cars in
Russia. Moreover, increasing mining activities in the country are further
boosting demand for OTR tires in the country. Also, growing Chinese tire
penetration, increasing share of foreign tire manufacturers and rising online
tire sales are expected to positively impact Russia tire market during 2020-2025.”
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“Russia Tire Market By
Vehicle Type, By Demand Category, By Radial vs Bias, By Summer Tire vs Winter
Tire, By Region, Competition, Forecast & Opportunities, 2025” has analyzed
the potential of Russia tire market, and provides information and statistics on
market structure, imports and trends. The report intends in providing the
intending clients with cutting-edge market intelligence and help them in taking
sound investment decisions. The report also identifies and analyses emerging
trends along with essential drivers and key challenges faced by Russia tire
market.
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