GCC: Steam Turbine Market 2024

Steam Turbine Market Size in GCC

The GCC steam turbine market declined modestly to $X in 2022, waning by X% against the previous year. In general, consumption saw a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Steam Turbine Production in GCC

In value terms, steam turbine production contracted to $X in 2022 estimated in export price. The total production indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Steam Turbine Exports

Exports in GCC

In 2022, the amount of steam turbines and other vapor turbines exported in GCC surged to X units, jumping by X% on the year before. Overall, exports saw a strong increase. The growth pace was the most rapid in 2015 with an increase of X%. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, steam turbine exports reduced slightly to $X in 2022. Over the period under review, exports posted a prominent increase. The pace of growth was the most pronounced in 2014 when exports increased by X%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

In 2022, the United Arab Emirates (X units) and Saudi Arabia (X units) was the key exporter of steam turbines and other vapor turbines in GCC, achieving X% of total export.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by the United Arab Emirates (with a CAGR of X%).

In value terms, the United Arab Emirates ($X) remains the largest steam turbine supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total exports.

In the United Arab Emirates, steam turbine exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per unit, dropping by X% against the previous year. Over the period under review, the export price, however, posted tangible growth. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. The level of export peaked at $X per unit in 2021, and then shrank notably in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while Saudi Arabia amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%).

Steam Turbine Imports

Imports in GCC

Steam turbine imports fell notably to X units in 2022, declining by X% on 2021 figures. Over the period under review, imports saw a deep reduction. The growth pace was the most rapid in 2018 with an increase of X%. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, steam turbine imports dropped significantly to $X in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by X%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, the United Arab Emirates (X units), distantly followed by Oman (X units), Qatar (X units), Bahrain (X units) and Kuwait (X units) were the key importers of steam turbines and other vapor turbines, together achieving X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Kuwait (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Oman ($X), Qatar ($X) and the United Arab Emirates ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Bahrain and Kuwait lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Kuwait, 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 more modest paces of growth.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per unit, rising by X% against the previous year. Overall, the import price recorded significant growth. The pace of growth was the most pronounced in 2013 an increase of X% against the previous year. The level of import peaked at $X per unit in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Bahrain ($X per unit), while Kuwait ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform