Nizhnekamskshina to Lead Russian Tyre Market by FY ’14: Says TechSci Research

Burnaby, Canada, March 02, 2012 --(PR.com)-- Russian tyre industry is clearly one of the fastest growing markets globally. Strong developments in almost all major automobile segments have infused tyre demand in the country. Additionally, tyre manufacturers are ramping up their production capacities in line with the growing automobile sales. These capacity expansion plans will ultimately result in high tyre production, which is expected to grow at a CAGR of over 16% during FY ’2011-17.

According to research report “Russian Tyre Market Forecast and Opportunities 2017” by TechSci Research, Nizhnekamskshina would lead the Russian tyre market as the total tyre market turnover in Russia will surpass USD 9,650 Million by FY’14. With Sibur getting sold out in 4Q 2011, Nizhnekamskshina is all set to lead the Russian tyre market which was considered as the only closest competitor. In 2009, Nizhnekamskshina held 15% share alone preceding Sibur with 17.9% market share. Nizhnekamskshina caters to almost all the available segments including Passenger cars, LCV, commercial vehicles, agricultural as well as industrial vehicles which form most of the Russian tyre market.

“With expanding Russian economy, tyre industry is all set to grow in coming years. It is anticipated that Nizhnekamskshina would lead the market by 2014. The increasing automobile sales in Russia have boosted the market for premium tyres. Russia is emerging as a new home for many global tyre manufacturers because of the benefits offered by the government like cheaper raw material, low energy cost, tax benefits, etc.,” said Karan Chechi, Research Director at TechSci Research.

By 2017, automobile production in Russia is expected to reach 4.36 Million units where the production’s major share would be led by local foreign companies only. It is anticipated that with increasing automobile production, tyre sales will also grow in OEM segment, said Chechi.

“Russian Tyre Market Forecast and Opportunities 2017” gives detailed and unprejudiced overview on the tyre market in Russia. This report helps readers to identify the ongoing trends in the industry and anticipated growth in the future depending upon changing industry dynamics in coming years. The report will help industry consultant, tyre manufacturers and other stakeholders to align their market centric strategies according to ongoing and expected trends in future.

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