Russia is an oil driven economy, and consequently, was significantly impacted due to decline in oil prices over the past few years. Automotive sector in the country also witnessed a dip, which further negatively impacted tire market in Russia.
New York, March 04, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the 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" - https://www.reportlinker.com/p04646992/?utm_source=GNW
Government of Russia has been taking various initiatives for attracting foreign direct investment (FDI) in various sectors such as agriculture, infrastructure and transportation & tourism. Demand for tires in Russia is expected to increase at a moderate pace in the coming years, owing to expanding vehicle fleet and rising per capita income levels.
As of 2018 Russia tire market stood at over 58 million and the market is expected to surpass 90 million tires by 2025.Russia tire market can be broadly classified based on vehicle type, demand category, and radial vs bias.
Based on the vehicle type, the market can be bifurcated into Passenger Car tires, Two-Wheeler tires, LCV tires, M&HCV tires and OTR tires. Passenger car tires accounted for the largest share and the segment is poised to grow at an impressive rate during the forecast period as well, as the number of passenger cars is increasing in the country.
Major players operating in Russia tires market 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.
Years considered for this report:
Historical Period: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021–2025
Objective of the Study:
• To assess the demand-supply scenario of automotive tires, which covers production, demand and supply of automotive tires in Russia.
• To analyze and forecast the market size of Russia tire market.
• To classify and forecast Russia tire market based on vehicle type, demand category, radial vs bias, and regional distribution.
• To identify drivers and challenges for Russia tire market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Russia tire market.
• To conduct the pricing analysis for tires.
• To identify and analyse the profile of leading players involved in the manufacturing of Russian tires.
To perform the study, the analyst conducted primary as well as exhaustive secondary research.Initially, the analyst prepared an exhaustive list of tires players operating in Russia.
Subsequently, the analyst conducted primary research surveys, which included primary calls, email responses, etc., with the identified companies. While interviewing, the respondents were also asked about their major competitors. Through this technique, the analyst could include manufacturers which could not be identified due to the limitations of secondary research. The analyst examined product offerings and regional presence of all major tires suppliers across the globe.
The analyst calculated the market size for Russia tires by using a bottom-up technique, wherein manufacturers’ volume sales data for different applications, was recorded as well as forecast for the future years. The analyst sourced these values from industry experts and company representatives, and externally validated through analysing historical sales data of respective manufacturers to arrive at the overall market size.
Multiple secondary sources such as directories, company websites, company annual reports, white papers, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Tires manufacturers, suppliers, distributors and other stakeholders
• Associations, organizations, forums and alliances related to tires
• Government bodies such as regulating authorities and policy makers
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as tires manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
In this report, Russia tires market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Market, By Vehicle Type:
o Passenger Car
• Market, By Demand Category:
• Market, By Radial vs Bias:
• Market, By Region:
o Eastern Region
o North-West Region
o North Region
o Siberian Region
o Ural Region
o South Region & Crimean Region
o Volga Region
o Central Region
Company Profiles: Detailed analysis of the major companies present in tires.
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
Profit Margin Analysis
• Profit margin analysis in case of direct and indirect sales channel.
Read the full report: https://www.reportlinker.com/p04646992/?utm_source=GNW
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