- Booming construction sector to provide the greatest growth opportunities in the next five years
LONDON, Oct. 2, 2012 /PRNewswire/ -- The Russian genset market is distinguished by high growth, with increasing opportunities across various end-user levels. The market is projected to register a 9.7 per cent growth rate between 2010 and 2015.
New analysis from Frost & Sullivan (http://www.energy.frost.com), Analysis of the Russian Genset Market, finds that the market earned revenues of $428 million in 2011 and estimates this to reach $614.9 million in 2015. The research covers gas and diesel gensets across key industrial, commercial, institutional and residential end-user sectors.
"A robust Russian economy and increasing activity in the construction sector will boost the uptake of gensets," notes Frost & Sullivan Research Manager Malavika Tohani. "The explosion in data centres, backed by the growth in financial institutions around Moscow, will further push demand for back-up power gensets."
A booming construction sector will provide the greatest growth opportunities in the next five years. The construction sector will receive a further fillip from a series of sporting events such as Formula1, the Winter Olympics (in 2014) and the World Cup football (in 2018). These events are expected to push infrastructure investments in Russia which, in turn, will result in heightened demand for gensets.
Currently, the Russian genset market is primarily driven by industrial applications in the oil, gas and mining sectors. However, economic volatility in Europe could cause a slowdown in Russia's export-dependent oil and gas sector. This could potentially dampen the demand for gensets.
Nonetheless, widespread grid instability in Russia will mean that all the major industries will continue to rely on generator sets for their back-up and prime power applications. Stand-by applications will benefit from continued demand from the commercial and industrial sectors.
"Cost, reliability, service contracts, after-sales support, and customer relationships will be key competitive factors," concluded Tohani. "Technological developments will focus on compactness, safety, remote monitoring and control, and emergency restoration."
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Analysis of the Russian Genset Market is part of the Energy & Power Growth Partnership Service programme, which also includes research in the following markets: Global Diesel Generator Set Market, Global Gas Geneset Market, European Gas Generator Set Market and European Diesel Generator set Market. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
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Analysis of the Russian Genset Market
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SOURCE Frost & Sullivan