Latin America and the Caribbean: Steam Turbine Market 2024

Steam Turbine Market Size in Latin America and the Caribbean

In 2022, the Latin American steam turbine market increased by X% to $X, rising for the second year in a row after two years of decline. In general, consumption, however, saw a deep reduction. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Steam Turbine Production in Latin America and the Caribbean

In value terms, steam turbine production contracted modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Steam Turbine Exports

Exports in Latin America and the Caribbean

In 2022, the amount of steam turbines and other vapor turbines exported in Latin America and the Caribbean skyrocketed to X units, growing by X% on the previous year's figure. In general, exports, however, continue to indicate a sharp setback. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. The volume of export peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, steam turbine exports skyrocketed to $X in 2022. Overall, exports, however, showed a deep slump. The most prominent rate of growth was recorded in 2017 when exports increased by X%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Colombia prevails in exports structure, amounting to X units, which was approx. X% of total exports in 2022. It was distantly followed by Brazil (X units), making up a X% share of total exports. Nicaragua (X units) took a little share of total exports.

Colombia was also the fastest-growing in terms of the steam turbines and other vapor turbines exports, with a CAGR of X% from 2012 to 2022. At the same time, Nicaragua (X%) displayed positive paces of growth. By contrast, Brazil (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Colombia and Nicaragua increased by X and X percentage points, respectively.

In value terms, Brazil ($X) remains the largest steam turbine supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Colombia ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Brazil stood at X%. In the other countries, the average annual rates were as follows: Colombia (X% per year) and Nicaragua (X% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per unit, with a decrease of X% against the previous year. In general, the export price, however, posted significant growth. The most prominent rate of growth was recorded in 2013 when the export price increased by X% against the previous year. The level of export peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

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

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

Steam Turbine Imports

Imports in Latin America and the Caribbean

After three years of decline, supplies from abroad of steam turbines and other vapor turbines increased by X% to X units in 2022. In general, imports continue to indicate significant growth. The pace of growth appeared the most rapid in 2017 with an increase of X%. The volume of import peaked at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, steam turbine imports declined sharply to $X in 2022. Overall, imports, however, faced a dramatic shrinkage. The growth pace was the most rapid in 2018 when imports increased by X%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Bolivia dominates imports structure, amounting to X units, which was near X% of total imports in 2022. Nicaragua (X units) held a relatively small share of total imports.

Bolivia was also the fastest-growing in terms of the steam turbines and other vapor turbines imports, with a CAGR of X% from 2012 to 2022. At the same time, Nicaragua (X%) displayed positive paces of growth. From 2012 to 2022, the share of Bolivia and Nicaragua increased by X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Bolivia ($X) constitutes the largest market for imported steam turbines and other vapor turbines in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Nicaragua ($X), with a X% share of total imports.

In Bolivia, steam turbine imports expanded at an average annual rate of X% over the period from 2012-2022.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2022, with a decrease of X% against the previous year. Overall, the import price recorded a dramatic descent. The growth pace was the most rapid in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices reached the maximum at $X per unit in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nicaragua ($X per unit), while Bolivia stood at $X per unit.

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

Source: IndexBox Platform