Pune, India, April 30, 2021 (GLOBE NEWSWIRE) -- The Russia gas generator market size is projected to reach USD 196.09 million by 2028, exhibiting a CAGR of 5.3% during the forecast period, states Fortune Business Insights™ in its report, titled “Russia Gas Generator Market, 2021-2028”. The report also states that the value of this market stood at USD 126.20 million in 2020.
Existence of Massive Natural Gas Conglomerates in Russia to Sustain the Market
The Russian economy is heavily dependent on the production and export of natural gas. According to a 2019 report by the country’s Natural Resources and Environment Ministry, the total final value of Russia’s gas, oil, and other hydrocarbon resources amounts to approximately 60% of the national gross domestic product (GDP). Given the centrality of natural gas to Russia’s economic development, the country has become home to some of the largest natural gas conglomerates in the world. For example, Gazprom, the world’s largest natural gas company, supplies huge amounts of natural gas to other countries and owns the biggest gas reserves on the planet, currently. Similarly, Rosneft leads Russia’s petroleum industry and has emerged as one of the top publicly-traded oil and gas entities in the world. With these companies ensuring a continuous supply of hydrocarbons within and outside the country, the adoption of gas generators in Russia is expected to steadily expand in the forthcoming years.
Market Segmentation
On the basis of power rating, the market has been segregated into up to 100 kVA, 100-350 kVA, 350-750 kVA, 750-1000 kVA, 1000-2000 kVA, 2000-3000 kVA, and Above 3000 kVA. Among these, the 1000-2000 kVA segment led the Russia gas generator market with a share of 40.0% in 2020.
Based on end-user, this market’s segments include mining, data centers, construction, manufacturing, tourism/hospitality, oil & gas, residential, agricultural, water treatment/landfill, power utilities, cold storage warehouses, and others.
Salient Features of the Report
The report offers a piecemeal study of the various factors driving the market, along with a microscopic analysis of the market’s restraining factors. Moreover, the report incorporates a comprehensive examination of all the market segments and supplies tangible and actionable research and insights into the regional and competitive dynamics influencing market growth.
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Unprecedented Decline in Hydrocarbon Production amid COVID-19 to Hinder the Market
The COVID-19 pandemic outbreak has hindered the Russia gas generator market growth, with the market showing an enormous drop of 10.86% in 2020, reaching a value of USD 136.22 million in 2021. The pandemic has led to a chain reaction in the Russian oil & gas industry, triggered by the rapid spread of the coronavirus across oil, gas, and mining sites in Russia and Kazakhstan. For example, in May 2020, Russian authorities revealed that at Novatek’s Belokamenka shipyard in the Arctic Murmansk region, the coronavirus had infected 2,259 out of 10,000 workers. Similarly, at the Chayanda gas deposit in Yakutia, approximately 3,000 of the 10,000 workers were tested positive.
These events have led to a sharp fall in hydrocarbon production in the country. In January 2021, the Russian energy ministry reported that the country’s oil and gas condensate shrunk to 10.27 million barrels per day in 2020 due to the economic fallout of the COVID-19 pandemic. This, in turn, has affected Russia’s gas export. In April 2020, for instance, Gazprom anticipated gas exports to dip by 16% in 2020. The development and adoption of these generators in such a dire scenario will inevitably be impeded in Russia, slowing down the growth momentum of the market.
Competitive Landscape
Key Players to Focus on Expanding Availability of Gas Generators in Remote Locations
Russia is the largest country in the world by area, flanking the entire northern rim of Asia. Providing power generation and backup systems in far-off places across the country is a major challenge for gas generator manufacturers. However, these companies are efficiently widening their distribution networks and sales channels to rapidly cover large swathes of the country and cater to the growing energy demand in the remote parts of Russia.
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Industry Developments:
- November 2020: KRON, LLC, a leading trade partner of the TCC Group, announced the availability of gas generators, diesel generators, and diesel power plants in Vladivostok. The idea is to immediately meet customer needs in this huge Russian region.
- September 2020: GE bagged an order to supply power generation systems at the new blocks in the State District Power Plant located in Zainsk, Russia. The facility will be designed and built by ENKA, the Turkish engineering-construction giant.
List of Key Players Covered in the Russia Gas Generator Market:
- Yanmar Holdings Co., Ltd. (Japan)
- Atlas Copco (Sweden)
- KOHLER-SDMO (France)
- HIMOINSA (Spain)
- Caterpillar Inc. (The U.S.)
- TSS Group (Russia)
- FG Wilson (The U.K)
- Generac Power Systems (The U.S.)
- Cummins Inc. (The U.S.)
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Major Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- For Power Rating
- For End-user
- Insights on Regulatory Landscape
- Industry SWOT Analysis
- Porters Five Forces Analysis
- Qualitative Analysis – Impact of COVID-19
- Impact of COVID-19 on the Gas Generator Market
- Steps Taken by the Government to Overcome the Impact
- Key Developments in the Industry in Response to COVID-19
- Potential Opportunities and Challenges due to COVID-19 Outbreak
- Average Price of Gas Generator, 2020 (*On Best Effort Basis)
- By Power Rating
- Brand
- Model
- Price
- By End-user
- Brand
- Model
- Price
- By Power Rating
- Russia Gas Generator Market Analysis (USD Million), Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Power Rating
- Upto 100 kVA
- 100-350 kVA
- 350-750 kVA
- 750-1000 kVA
- 1000-2000 kVA
- 2000-3000 kVA
- Above 3000 kVA
- Market Analysis, Insights and Forecast – By End-user
- Mining
- Data Centers
- Construction
- Manufacturing
- Tourism/Hospitality
- Oil & Gas
- Residential
- Agricultural/Greenhouse
- Water Treatment/Landfill
- Power Utilities
- Cold Storage Wearhouse
- Others
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