Middle East: Steam Turbine Market 2024

Steam Turbine Market Size in the Middle East

The Middle Eastern steam turbine market dropped modestly to $X in 2022, declining by X% against the previous year. Overall, consumption recorded a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Steam Turbine Production in the Middle East

In value terms, steam turbine production declined slightly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Steam Turbine Exports

Exports in the Middle East

In 2022, approx. X units of steam turbines and other vapor turbines were exported in the Middle East; jumping by X% against 2021. Overall, exports showed resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, steam turbine exports reduced to $X in 2022. In general, exports posted prominent growth. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Turkey (X units), the United Arab Emirates (X units) and Saudi Arabia (X units) represented the major exporter of steam turbines and other vapor turbines in the Middle East, comprising X% of total export. Israel (X units) held a minor share of total exports.

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

In value terms, Turkey ($X), the United Arab Emirates ($X) and Saudi Arabia ($X) were the countries with the highest levels of exports in 2022, together comprising X% of total exports.

Saudi Arabia, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries 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 the Middle East amounted to $X per unit, dropping by X% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the export price increased by X% against the previous year. The level of export peaked at $X per unit in 2021, and then shrank significantly in the following year.

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

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

Steam Turbine Imports

Imports in the Middle East

In 2022, after two years of growth, there was significant decline in overseas purchases of steam turbines and other vapor turbines, when their volume decreased by X% to X units. In general, imports recorded a drastic downturn. The most prominent rate of growth was recorded in 2020 with an increase of X%. The volume of import peaked at X units in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, steam turbine imports dropped dramatically to $X in 2022. Over the period under review, imports continue to indicate a pronounced setback. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Turkey dominates imports structure, accounting for X units, which was approx. X% of total imports in 2022. It was distantly followed by Israel (X units), making up a X% share of total imports. The following importers - Iraq (X units), the United Arab Emirates (X units), Syrian Arab Republic (X units), Oman (X units), Qatar (X units) and Lebanon (X units) - together made up X% of total imports.

Imports into Turkey decreased at an average annual rate of X% from 2012 to 2022. At the same time, Syrian Arab Republic (X%), Israel (X%), Lebanon (X%) and Oman (X%) displayed positive paces of growth. Moreover, Syrian Arab Republic emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2022. Iraq experienced a relatively flat trend pattern. By contrast, the United Arab Emirates (X%) and Qatar (X%) illustrated a downward trend over the same period. Israel (X p.p.), Syrian Arab Republic (X p.p.), Iraq (X p.p.), Oman (X p.p.) and Lebanon (X p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates and Qatar saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported steam turbines and other vapor turbines in the Middle East, comprising X% of total imports. The second position in the ranking was held by Iraq ($X), with a X% share of total imports. It was followed by Syrian Arab Republic, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Turkey totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Iraq (X% per year) and Syrian Arab Republic (X% per year).

Import Prices by Country

The import price in the Middle East stood at $X per unit in 2022, with an increase of X% against the previous year. Overall, the import price posted strong growth. The most prominent rate of growth was recorded in 2015 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per unit in 2018; however, from 2019 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 Oman ($X per unit), while Lebanon ($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 more modest paces of growth.

Source: IndexBox Platform