Accounting for More than 25.7 Billion USD of Imports, the U.S. Continues to Be One of the Biggest Markets for Global Turbine and Turbine Generator Set Unit Exporters
Engines And Turbines June 23, 2016
Photo: © MartinLisner / Bigstockphoto
The U.S. leads the way in global imports of turbines and turbine generator set units, accounting for a 17% share (based on USD). The UK (12%), Germany (9%), and France (7%) followed. In 2015, U.S. imports of turbines and turbine generator set units totaled 25,768 million USD, which was 1,066 million USD (4%) more than the year before.
From 2007 to 2015, U.S. turbine and turbine generator set unit imports recorded several fluctuations. However, there was an overall upward trend, with an annual increase of +3.9% throughout the analysed period.
In 2012, U.S. turbine and turbine generator set unit imports overcame their pre-recession level of 2007.
Comprising the largest share of global imports, the U.S. appeared to be one of the most attractive destinations for overseas suppliers.
France was the leading supplier of turbines and turbine generator set units into the U.S., with a 23% share of total U.S. imports in 2015, based on USD. It was distantly followed by Japan (11%), Canada (11%), Germany (10%), and the UK (10%). France and Japan were the fastest growing suppliers (+5.7% per year and +5.9% per year, respectively) from 2007 to 2015, while imports from Canada, Germany, and the UK did not show significant growth. Therefore, France and Japan strengthened their positions in the U.S. import structure by +2 percentage points each from 2007 to 2015, while other major supplying countries saw their shares reduced.
From 2007 to 2008, the U.S. was a net exporter of turbines and turbine generator set units. However, following a rapid converse change in 2009, imports consistently exceeded exports and had a faster average growth rate than exports over the period from 2009 to 2015.
Net US imports of turbines and turbine generator set units increased from 2009 to 2015. In 2015, this industry ran a significant trade deficit of 11,853 billion USD.
Source: U.S. Turbine And Turbine Generator Set Units Market. Analysis And Forecast to 2020
