Engineering

Industrial production in Russia

Main article: Industrial production in Russia

2023: The engineering services market in Russia grew by 14.1% over the year and reached ₽3,9 trillion

The volume of the engineering services market in Russia increased by 14.1% in 2023 compared to the previous year, reaching ₽3,9 trillion. Taking into account inflation, real growth was 0.8%. TAdviser got acquainted with such data of the analytical company "GuideMarket" in December 2024

The study notes that over the past five years, the volume of the engineering services market in Russia has increased by 56%. In 2022, the figure was ₽3,4 trillion, but taking into account inflation, a decrease of 13.8% was recorded compared to 2021.

The main growth factors were the restructuring of supply chains, the use of local resources and the implementation of import substitution projects. The companies not only retained, but also expanded the range of services in the domestic market by adapting to new operating conditions.

Active financing of large infrastructure projects, including the construction of housing, medical and educational institutions, has become a powerful driver of market development. The number of projects to modernize existing production facilities and thermal power plants has increased, which turned out to be more economical compared to new construction.

EPC (M) contracts, involving the complete design, construction and operation of facilities, are growing in popularity in the market. The share of small and medium-sized businesses offering more flexible and innovative solutions is increasing, which helps diversify the market and increase its competitiveness.

Engineering companies are actively introducing digital technologies, including virtual modeling, BIM technologies, cloud services and artificial intelligence. Digitalization is becoming an integral part of modern engineering activities, increasing the efficiency and quality of the services provided.

There is a growing demand for projects that meet environmental standards, which is combined with government initiatives to modernize the country's worn-out infrastructure. In the coming years, investments in infrastructure projects are expected to increase, which will become the main driver of market development.^[1]

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