Russian equipment sales to grow at +25%

20 March 2008

A new report from PMR publications says that the russian market for construction and mining equipment was worth US$ 2,1 billion (€1,57 billion) last year. Annual growth over the next three to five years is expected to be between +10% and +25%.

The company reports healthy growth across the various construction industry sub-sectors, including infrastructure and non-residential building. In addition, it says 9,5 million m2 of new residential space – equivalent to more than 100000 new apartments – were completed in Russia in the first quarter of this year. This was a +51% increase on Q1 2006.

According to PMR, the majority of equipment sold in Russia is still built by local companies that were originally state-owned. It says many of these machines use outdated technology and offer relatively poor value for customers, despite their low cost.

Having said that, the report says there are good prospects in Russia for overseas companies.

“While advanced western machines may cost more in US Dollar or Euro terms, they give better value for money, lifetime ownership, performance and productivity. Very often international companies are pleasantly surprised at how large and fast growing the market is for mature machines that are reasonably up to date and offer good value for money,” it said.

This view is bourn out by statistics that show imports of construction equipment into Russia are on the rise. Imports of graders, excavators and wheeled loaders were among the equipment types that enjoyed high and consistent growth last year.

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