Frost & Sullivan: Russian electronics manufacturing market grows

According to Frost & Sullivan researchers, liberalization coupled with heightened demand from key end-user segments are aiding the growth of the electronics manufacturing market in Russia, once considered an unfavorable market for electronics manufacturing by foreign electronics manufacturers.
New analysis from Frost & Sullivan, “Russian Electronics Manufacturing Markets,” finds that the market earned revenues of $1.85 billion in 2008 and estimates this number to reach $4.91 billion in 2015. The following segments are covered in the research: original equipment manufacturing, electronics manufacturing, electronics manufacturing services, PTH, and original design manufacturing.
"The lowering of import duties on liquid crystal display (LCD) components will positively impact market prospects," notes Frost & Sullivan research analyst Harish Natesan. "The increasing demand for flat panel display (FPD) products will be another key factor influencing the growth of the Russian electronics manufacturing market."
"The global economic slowdown will continue to have an impact on foreign investments in electronics manufacturing," cautions Natesan. "Many multinational companies have deferred plans of a proposed entry amidst the recessionary scenario."
Despite the current gloom, the market remains optimistic. In the last few years, foreign manufacturers have increasingly penetrated Russia due to the liberal economic and fiscal policies introduced by the government as well as the increasing demand in major segments such as automotive and consumer electronics.
Russian Electronics Manufacturing Markets is part of the Surface Mount Technologies Growth Partnership Service program, which also includes research in the following markets: Bulgarian Electronics Manufacturing Markets, Polish Electronics Manufacturing Markets, and Slovakian Electronics Manufacturing Markets.