LONDON, Aug. 1, 2016 /PRNewswire/ -- Economic and political uncertainty in Russia have hindered growth of commercial vehicle market over the last five years. Western sanctions imposed on Russia over Ukraine crisis led to a steep decline in the country's commercial vehicle market. Despite these adversities and restriction on fund inflows from the European Bank for Reconstruction and Development (EBRD), Russia is now following Public-Private Partnership (PPP) model to finance infrastructure projects in the country. This move is expected to induce a positive impact on the commercial vehicle market in the country over the next five years. Moreover, the country is expected to witness higher economic as well as political stability post mid-2016, with government taking various initiatives to resolve issues posed by Western sanctions. Consequently, Russia commercial vehicle market is expected to growth during the forecast period.
According to the TechSci Research report, "Russia Commercial Vehicle Market By Vehicle Type, Competition Forecast and Opportunities, 2011 – 2021", the country's commercial vehicle market is projected to surpass $ 6 billion by 2021. Initiatives and subsidies provided by the government of Russia to promote adoption of alternate fuels such as natural gas and electric power, coupled with rapid infrastructure development are expected to positively influence the commercial vehicle market in the country during 2016 - 2021. In 2015, truck segment dominated the country's commercial vehicle market, followed by the bus and van segments. Truck segment is forecast to continue its dominance in Russia commercial vehicle market on account of extensive use of trucks in logistics industry. KAMAZ, GAZ and URAL are the largest players operating in Russia commercial vehicle market, and these three players cumulatively accounted for a market share of around 70% in 2015. "Russia Commercial Vehicle Market By Vehicle Type, Competition Forecast and Opportunities, 2011 – 2021", report elaborates following aspects of commercial vehicle market in Russia:
- Russia Commercial Vehicle Market Size, Share & Forecast
- Segmental Analysis – Truck, Bus and Van
- Policy and Regulatory Landscape
- Changing Market Trends & Emerging Opportunities
- Competitive Landscape & Strategic Recommendations
Why You Should Buy This Report?
- To gain an in-depth understanding of commercial vehicle market in Russia
- To identify the on-going trends and segment wise anticipated growth in the next five years
- To help industry consultants, commercial vehicle manufacturers, distributors and other stakeholders align their market-centric strategies
- To obtain research based business decision and add weight to presentations and marketing material
- To gain competitive knowledge of leading market players
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The information contained in this report is based on both primary and secondary sources. Primary research included interviews with vehicle manufacturers, distributors and industry experts. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.
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