India: Steam Turbine Market 2024

Steam Turbine Market Size in India

The Indian steam turbine market surged to $X in 2022, growing by X% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Steam Turbine Production in India

In value terms, steam turbine production rose slightly to $X in 2022 estimated in export price. Over the period under review, production enjoyed a significant increase. The pace of growth was the most pronounced in 2013 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2020; afterwards, it flattened through to 2022.

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Steam Turbine Exports

Exports from India

In 2022, shipments abroad 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. Over the period under review, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by X%. Over the period under review, the exports reached the peak figure at X units in 2021, and then dropped significantly in the following year.

In value terms, steam turbine exports contracted dramatically to $X in 2022. In general, exports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2013 when exports increased by X%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Bangladesh (X units), Italy (X units) and Thailand (X units) were the main destinations of steam turbine exports from India, together comprising X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bangladesh (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Bangladesh ($X) and Italy ($X) constituted the largest markets for steam turbine exported from India worldwide, together comprising X% of total exports.

Among the main countries of destination, Bangladesh, with a CAGR of X%, saw the highest rates of growth with regard to 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 average steam turbine export price amounted to $X per unit, picking up by X% against the previous year. Over the period under review, the export price, however, saw a deep reduction. The pace of growth appeared the most rapid in 2019 when the average export price increased by X%. As a result, the export price attained the peak level of $X per unit. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to Bangladesh ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to El Salvador (X%), while the prices for the other major destinations experienced more modest paces of growth.

Steam Turbine Imports

Imports into India

Steam turbine imports into India dropped notably to X units in 2022, reducing by X% compared with the previous year. In general, imports faced a abrupt shrinkage. 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 reached the maximum at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, steam turbine imports declined notably to $X in 2022. Over the period under review, imports recorded a sharp descent. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Russia (X units), Italy (X units) and the United States (X units) were the main suppliers of steam turbine imports to India, with a combined X% share of total imports. Germany, China, Japan, France, Austria, Saudi Arabia, the Czech Republic, Nepal and the Netherlands lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Russia ($X) and Japan ($X) appeared to be the largest steam turbine suppliers to India, together accounting for X% of total imports. The United States, Germany, Italy, France, the Netherlands, Austria, Saudi Arabia, Nepal and the Czech Republic lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Nepal, with a CAGR of X%, recorded the highest rates of growth with regard to 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 average steam turbine import price amounted to $X per unit, falling by X% against the previous year. In general, the import price recorded a deep contraction. The pace of growth appeared the most rapid in 2021 an increase of X%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per unit), while the price for the Czech Republic ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nepal (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform