Europe: Steam Turbine Market 2024

Steam Turbine Market Size in Europe

In 2022, the Europe steam turbine market decreased by X% to $X for the first time since 2016, thus ending a five-year rising trend. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2021, and then fell modestly in the following year.

Steam Turbine Production in Europe

In value terms, steam turbine production dropped to $X in 2022 estimated in export price. Overall, production, however, saw a abrupt curtailment. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Steam Turbine Exports

Exports in Europe

In 2022, overseas shipments of steam turbines and other vapor turbines were finally on the rise to reach X units for the first time since 2018, thus ending a three-year declining trend. Over the period under review, exports, however, continue to indicate a dramatic shrinkage. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, steam turbine exports contracted to $X in 2022. In general, exports, however, saw a abrupt downturn. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, the UK (X units), Germany (X units), Italy (X units) and the Czech Republic (X units) represented the key exporter of steam turbines and other vapor turbines in Europe, constituting X% of total export. France (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by the UK (with a CAGR of X%), while the other leaders experienced a decline in the exports figures.

In value terms, the largest steam turbine supplying countries in Europe were Germany ($X), the Czech Republic ($X) and Italy ($X), together accounting for X% of total exports.

In terms of the main exporting countries, the Czech Republic, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Europe amounted to $X per unit, which is down by X% against the previous year. Overall, the export price, however, recorded a significant increase. The most prominent rate of growth was recorded in 2020 when the export price increased by X%. Over the period under review, the export prices attained the peak figure at $X per unit in 2021, and then dropped rapidly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was France ($X per unit), while the UK ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (X%), while the other leaders experienced more modest paces of growth.

Steam Turbine Imports

Imports in Europe

In 2022, overseas purchases of steam turbines and other vapor turbines decreased by X% to X units for the first time since 2019, thus ending a two-year rising trend. Overall, imports faced a abrupt downturn. The pace of growth was the most pronounced in 2014 when imports increased by X% against the previous year. As a result, imports attained the peak of X units. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, steam turbine imports declined to $X in 2022. Over the period under review, imports showed a deep contraction. The pace of growth was the most pronounced in 2020 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Belarus dominates imports structure, amounting to X units, which was approx. X% of total imports in 2022. The UK (X units), Poland (X units), Russia (X units) and Germany (X units) followed a long way behind the leaders.

Imports into Belarus increased at an average annual rate of X% from 2012 to 2022. At the same time, Russia (X%) displayed positive paces of growth. Moreover, Russia emerged as the fastest-growing importer imported in Europe, with a CAGR of X% from 2012-2022. Germany experienced a relatively flat trend pattern. By contrast, Poland (X%) and the UK (X%) illustrated a downward trend over the same period. Belarus (X p.p.), Russia (X p.p.) and Poland (X p.p.) significantly strengthened its position in terms of the total imports, while the UK saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X), Poland ($X) and Belarus ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

In terms of the main importing countries, Poland, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in Europe amounted to $X per unit, growing by X% against the previous year. Over the period under review, the import price saw buoyant growth. The growth pace was the most rapid in 2015 when the import price increased by X%. Over the period under review, import prices reached the maximum at $X per unit in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Russia ($X per unit), while Belarus ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform