Industrial Compressor Services Market in Europe and Russia
The market for industrial compressor services in Europe and Russia generated revenue of $ billion in 2013 and is expected to expand at a compound annual growth rate (CAGR) of % from 2013 to 2018.
Benefitted by the stalling of new projects in Europe, the growth of the industrial compressor services market is predominantly expected from Germany, the United Kingdom, and Scandinavia.
End-user focus on reliability and safety is expected to drive growth of the services market in the oil & gas and power generation industries. All end-user industries are expected to exhibit a high demand for spare parts and consumables.
The economic uncertainty in Europe and the geo-political scenario in Russia has restrained the capital expenditure (CAPEX) and operating expenditure (OPEX) of end-user companies. This is expected to restrict investments in new projects, but, in turn, is likely to increase the demand for advanced services such as asset management, optimisation, and remote monitoring.
There has been a growing trend of outsourcing maintenance requirements such as installation, commissioning, and advanced services. End-users prefer on-site training as compared to training conducted at manufacturers’ facilities despite the high costs involved.
About this report
Increasing focus by end-users on reliability and safety is expected to mobilise the industrial compressor services market. Repairs and maintenance activities have assumed greater significance post the 2008-09 economic recession, which diminished the capital expenditure for new projects. The impact of European Union sanctions (on account of the geo-political situation) on the Russian compressor services market has been looked into. This research analyses the current and future trends and their impact on the industrial compressor services market in Europe and Russia. Trends by service types have been analysed for both Europe and Russia. The market drivers with their corresponding implementation time have been discussed. The restraining factors and their impact have also been analysed.
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