Russia Commercial Vehicles Market to Surpass $ 6 billion by 2021: TechSci Research Report
NEW YORK, July 12, 2016 /PRNewswire/ --
Increasing Construction and Infrastructure Activities Coupled With Growing Logistics Industry and Growth in the Bus Segment to Drive Commercial Vehicles Market in Russia During 2016-2021.
According to TechSci Research report, "Russia Commercial Vehicle Market By Vehicle Type, Competition Forecast and Opportunities, 2011 - 2021", commercial vehicles market in Russia is forecast to cross $ 6 billion by 2021. Over the last few years, the economic uncertainty caused by the contracting world oil prices hampered the Russian automotive industry. Moreover, the sanctions imposed on the country by the Western nations over the Ukraine crisis, which began in late 2013, also negatively impacted the automotive industry in Russia over the last couple of years. Consequently, the Federal Government hasn't been able to attract FDI in the country due to lack of investor confidence, resulting from complex geopolitical situation. The government, therefore, has made a major legislative reform in the policies by providing a breakthrough to the Public Private Partnership (PPP) mode of investments in the infrastructure sector. Also, the country would be hosting 2018 FIFA World Cup, on account of which, various stadiums and other projects are being constructed in the country, and this is anticipated to boost demand for commercial vehicles in the country during the forecast period.
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Browse 14 market data Tables and 18 Figures spread through 104 Pages and an in-depth TOC on "Russia Commercial Vehicle Market"
In 2015, commercial vehicle volume sales were dominated by the trucks followed by the buses. Moreover, growing construction activities resulting from the upcoming 2018 FIFA World Cup are expected to aid the truck segment to continue its dominance during the forecast period as well. However, on the back of government subsidies for the purchase of buses running on alternate fuel technologies, the bus market is expected to exhibit faster growth over the next five years.
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"On account of the western sanctions imposed, in which European Bank for Reconstruction and Development (EBRD) restricts lending money to Russia, several upcoming and ongoing infrastructure projects have been negatively impacted, thereby affecting Russia's capability to finance infrastructure projects. However, the newly devised PPP mode of financing the infrastructure projects would help expedite the construction and logistics industry, thereby, boosting the commercial vehicle market in the country during the next five years.", said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"Russia Commercial Vehicle Market By Vehicle Type, Competition Forecast and Opportunities, 2011 - 2021" has evaluated the future growth potential of Russia commercial vehicles market and provides statistics and information on market structure, consumer behavior and trends. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities available in Russia commercial vehicles market.
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