Malaysia: Steam Turbine Market 2024

Steam Turbine Market Size in Malaysia

In 2022, the Malaysian steam turbine market increased by X% to $X, rising for the second year in a row after two years of decline. The market 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. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Steam Turbine Production in Malaysia

In value terms, steam turbine production shrank modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Steam turbine production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Steam Turbine Exports

Exports from Malaysia

In 2022, shipments abroad of steam turbines and other vapor turbines increased by X% to X units, rising for the fifth consecutive year after three years of decline. Over the period under review, exports continue to indicate a tangible increase. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, steam turbine exports skyrocketed to $X in 2022. Overall, exports, however, recorded a abrupt contraction. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Indonesia (X units), Papua New Guinea (X units) and Thailand (X units) were the main destinations of steam turbine exports from Malaysia, together comprising X% of total exports. Cote d'Ivoire, Colombia, Singapore, Italy, Guatemala, Japan, Canada, Germany, Honduras and the UK lagged somewhat behind, together comprising a further X%.

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

In value terms, Indonesia ($X), Cote d'Ivoire ($X) and Colombia ($X) constituted the largest markets for steam turbine exported from Malaysia worldwide, with a combined X% share of total exports. Guatemala, Honduras, Papua New Guinea, Canada, Thailand, Singapore, Italy, the UK, Germany and Japan lagged somewhat behind, together comprising a further X%.

Guatemala, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average steam turbine export price stood at $X per unit in 2022, surging by X% against the previous year. In general, the export price, however, saw a abrupt setback. The growth pace was the most rapid in 2013 an increase of X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per unit), while the average price for exports to Japan ($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 Colombia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Steam Turbine Imports

Imports into Malaysia

In 2022, overseas purchases of steam turbines and other vapor turbines increased by X% to X units, rising for the fourth year in a row after two years of decline. Over the period under review, imports enjoyed a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, steam turbine imports dropped modestly to $X in 2022. In general, imports, however, showed a deep reduction. The most prominent rate of growth was recorded in 2016 when imports increased by X%. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Japan (X units) constituted the largest supplier of steam turbine to Malaysia, accounting for a X% share of total imports. Moreover, steam turbine imports from Japan exceeded the figures recorded by the second-largest supplier, India (X units), threefold. The third position in this ranking was taken by China (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Japan stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and China (X% per year).

In value terms, China ($X), Japan ($X) and India ($X) constituted the largest steam turbine suppliers to Malaysia, together comprising X% of total imports. France, Belgium, the United States, Brazil and Germany lagged somewhat behind, together accounting for a further X%.

Belgium, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average steam turbine import price stood at $X per unit in 2022, dropping by X% against the previous year. Over the period under review, the import price saw a sharp reduction. The most prominent rate of growth was recorded in 2016 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform