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”
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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