Market for Agricultural, Construction and Industrial Machinery Tire in Russia
Market Overview
In 
, the Russian market for tyres for agriculture, forestry, construction, industry and other off the road vehicles was finally on the rise to reach $ after two years of decline. Over the period under review, consumption, however, recorded a strong increase. Consumption of peaked at $ in 2018; however, from 2019 to , consumption remained at a lower figure.
In value terms, production of tyres for agriculture, forestry, construction, industry and other off the road vehicles surged to $ in estimated in export price. Overall, production, however, saw a prominent expansion. The pace of growth was the most pronounced in 2008 when the production volume increased by %. Over the period under review, production of tyres for agriculture, forestry, construction, industry and other off road vehicles attained the peak level at $ in 2019; however, from to , production failed to regain momentum.
, the Russian market for tyres for agriculture, forestry, construction, industry and other off the road vehicles was finally on the rise to reach $ after two years of decline. Over the period under review, consumption, however, recorded a strong increase. Consumption of peaked at $ in 2018; however, from 2019 to , consumption remained at a lower figure.In value terms, production of tyres for agriculture, forestry, construction, industry and other off the road vehicles surged to $
in estimated in export price. Overall, production, however, saw a prominent expansion. The pace of growth was the most pronounced in 2008 when the production volume increased by %. Over the period under review, production of tyres for agriculture, forestry, construction, industry and other off road vehicles attained the peak level at $ in 2019; however, from to , production failed to regain momentum.Consumption
After three years of decline, consumption of tyres for agriculture, forestry, construction, industry and other off the road vehicles increased by % to units in . In general, consumption showed a moderate increase. Consumption of peaked at units in 2018; however, from 2019 to , consumption failed to regain momentum.
The value of the market for tyres for agriculture, forestry, construction, industry and other off the road vehicles in Russia expanded slightly to $ in , rising by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a strong expansion. Over the period under review, the market hit record highs in and is likely to see steady growth in the near future.
% to units in . In general, consumption showed a moderate increase. Consumption of peaked at units in 2018; however, from 2019 to , consumption failed to regain momentum.The value of the market for tyres for agriculture, forestry, construction, industry and other off the road vehicles in Russia expanded slightly to $
in , rising by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a strong expansion. Over the period under review, the market hit record highs in and is likely to see steady growth in the near future.Market Forecast
Driven by increasing demand for tyres for agriculture, forestry, construction, industry and other off the road vehicles in Russia, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to units by the end of .
In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .
% for the period from to , which is projected to bring the market volume to units by the end of .In value terms, the market is forecast to increase with an anticipated CAGR of +
% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .Trade Balance
Russia remains a net importer of agricultural, construction and industrial machinery tire; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
. In , there was a significant trade deficit of units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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