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International Companies to Confront Strong Local Presence as the Russian Power Plant Services Market Opens its Doors - New analysis from Frost & Sullivan, Strategic Analysis of the Power Plant Services Market in Russia, finds that the market earned revenues of €849.2 million in 2010 and estimates this to reach €1,134.1 million in 2017
International Companies to Confront Strong Local Presence as the Russian Power Plant Services Market Opens its Doors

 

NewswireToday - /newswire/ - London, United Kingdom, 2011/09/30 - New analysis from Frost & Sullivan, Strategic Analysis of the Power Plant Services Market in Russia, finds that the market earned revenues of €849.2 million in 2010 and estimates this to reach €1,134.1 million in 2017.

   
 
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Greater investments and privatisation to create a €1 billion market. Due to low investments in the past, the Russian power generation sector currently presents many opportunities for power services companies. Even though the Russian power plant services market has witnessed a slow down in recent years, it is recovering and is poised to show continuous growth in the near future.

New analysis from Frost & Sullivan (energy.frost.com), Strategic Analysis of the Power Plant Services Market in Russia, finds that the market earned revenues of €849.2 million in 2010 and estimates this to reach €1,134.1 million in 2017. In this research, Frost & Sullivan's expert analysts thoroughly examine the following segments: gas turbine, steam turbine and boiler servicing.

"Despite the challenges that the Russian power plant services market faces, there are a number of opportunities across the various functional segments of gas turbines, steam turbines and boilers," notes Frost & Sullivan's analysts. "The market is projected to expand, driven by ageing electricity generation fleet, ongoing liberalisation of the electricity market, together with the rising trend of outsourcing services."

An ageing electricity generation fleet is the strongest driver stimulating the development of the services market in Russia. It is predicted that the impact of this driver will increase over the next few years due to high investment needs in the power generation sector and privatisation of power generation companies.

According to the privatisation requirements, the acquiring company is obliged to upgrade the plant and maintain it well, regardless of its age and present condition. This is motivating the widespread adoption of power plant services.

"The reluctance to outsource power plant services, together with the strong presence of local service providers, presents a challenge," caution the analysts. "Such factors, coupled with high bureaucracy barriers, make this market challenging for new entrants and foreign incumbents."

In particular, the strong presence of local companies with competitive prices is an important challenge for international firms. Due to future market changes and planned power capacity additions, international service providers may gradually increase their position over the long term.

Russian power generation companies have a very strong in-house maintenance capability that is common in countries such as Russia and other post-Soviet countries. This is a very traditional method wherein power generation companies delegate plant servicing responsibility to workers within the organisation because they tend to look at operations and maintenance (O&M) as a part of their core power generation business.

Currently, Russian power generation suffers from a very high level of underinvestment. However, new capacity additions are leading to modern power plants becoming a bigger part of the energy mix. This, in turn, is leading to higher service revenues and longer-term contracts for service companies.

If you are interested in more information on this study, please send an e-mail with your contact details to Chiara Carella, Corporate Communications, at chiara.carella[.]frost.com.

Strategic Analysis of the Power Plant Services Market in Russia is part of the Energy & Power Growth Partnership Service programme, which also includes research in the following markets: Western European Power Plant Services Market and Strategic Analysis of the CEE Power Plant Services. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 40 offices on six continents. To join our Growth Partnership, please visit frost.com.

Strategic Analysis of the Power Plant Services Market in Russia / M6BC

 
 
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International Companies to Confront Strong Local Presence as the Russian Power Plant Services Market Opens its Doors

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Publisher Contact: Chiara Carella - Frost.com 
+44(0)20 7343 8314 chiara.carella[.]frost.com
 
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