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Expanding Oil and Gas Exploration Projects to Result in Burgeoning Use of Welding Equipment in Russia States Frost & Sullivan - Domestic companies face uphill task as low-cost competitors make strong foray into market
Expanding Oil and Gas Exploration Projects to Result in Burgeoning Use of Welding Equipment in Russia States Frost & Sullivan

 

PRZOOM - /newswire/ - London, United Kingdom, 2011/07/11 - Domestic companies face uphill task as low-cost competitors make strong foray into market.

   
 
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The Russian welding equipment market has been recovering since early 2010. Increasing oil and gas exploration and distribution projects, coupled with the Russian Federation's initiatives to develop the nuclear and wind power industries, will boost market prospects. However, growing imports will affect the market share of domestic participants.

New analysis from Frost & Sullivan (industrialautomation.frost.com), Strategic Analysis of Russian Welding Equipment Market, finds that the market earned $445.4 million in 2010 and estimates this to reach $941.2 million in 2017. High consumption of welding equipment in the construction, oil and gas and energy industries indicate a high growth rate. The following products are covered in the research: arc, resistance, gas and other (laser, friction stir and electron beam) welding equipment.

"The majority of Russia's oil exports transit through Transneft controlled pipelines, indicating a rise in the usage of welding equipment for the pipeline and energy exploration industries," notes Frost & Sullivan Global Programme ManagerArchanaChauhan. "Several pipeline projects like the Yamal-Europe, Galsi and Medgaz have aided in the growth of welding equipment in the past, while proposed projects like the South Stream pipeline route under the Black Sea to take Russian gas to Europe are expected to drive the total market for welding equipment over the long-term."

Investments in Russian oil and gas projects are anticipated to continue. Such trends will have a positive impact on the demand for welding equipment.

Several nuclear and wind power projects in Russia which were delayed during the recent economic crisis, affected welding equipment revenues in 2009. However, in a positive sign, the energy building machine industry is expected to witness a rebound.

"These projects are poised to drive the volume and revenues for the total Russian welding equipment market," adds Chauhan. "The recovery of the Russian shipbuilding industry and surging steel production and consumption are also set to have a positive effect on welding over the long-term."

Oil and gas, construction and energy industries are the largest end users for welding equipment. These are critical industries that need high-end welding technologies and have increasingly demanded after-sales services and technical support.

Domestic and global participants are being forced to provide these services at a low cost to counter rising price sensitivity. This, in turn, is reducing their profit margins.

Another challenge relates to the high level of imports; about 80% of the total Russian welding equipment market consists of equipment imported from global majors and other low-cost manufacturers. The intensifying penetration of low-cost manufacturers and that of international companies through dealerships and strong distribution networks is resulting in the share of domestic companies continually declining.

"This challenge is set to become more acute as competition intensifies with more participants establishing themselves in Russia to take advantage of the growth opportunities in the oil and gas and other end-user industries," explains Chauhan. "The market share of established domestic participants will decline unless they are able to counter the challenge of low-cost companies by offering competitive pricing or high-end technologies and product offerings like the global leaders."

If you are interested in more information on this study, please send an email with your contact details to Anna Zanchi, Corporate Communications, atanna.zanchi[.]frost.com.

Strategic Analysis of Russian Welding Equipment Market is part of the Industrial Automation & Process Control Growth Partnership Service programme, which also includes research in the following markets: European Welding Consumables Market, Strategic Analysis of the Global Welding Market in Energy Generation, Global Welding Market for Automotive Applications and Strategic Analysis of the Global Equipment and Consumables Market for Pipeline Industry. 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 (frost.com), 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.

 
 
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Expanding Oil and Gas Exploration Projects to Result in Burgeoning Use of Welding Equipment in Russia States Frost & Sullivan

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