Market Size of Russian Federation Power Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 1.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Russian Federation Power Market Analysis
The Russian Federation power market is expected to register a CAGR of more than 1% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. However, it has now reached pre-pandemic levels.
- Over the medium term, factors such as rapid urbanization, technical advancement, and the increasing demand for electricity owing to industrialization are expected to drive the Russian Federation power market during the forecast period.
- On the other hand, the high initial investment required for the grid development and installation of renewable sources is very high, which can hinder the growth of the market in the forecast period.
- Nevertheless, thermal power generation is expected to dominate the power generation in the country. With vast reserves of oil and natural gas, the share of hydrocarbons, especially natural gas, is increasing in power generation of the Russian Federation. Hence, this is expected to create opportunities for companies in the country.
