Asia: Vapour Power Unit Market 2024

Vapour Power Unit Market Size in Asia

After two years of decline, the Asian vapour power unit market increased by 10% to $X in 2021. In general, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Vapour Power Unit Production in Asia

In value terms, vapour power unit production rose sharply to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 14% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Vapour Power Unit Exports

Exports in Asia

Vapour power unit exports contracted significantly to X tons in 2021, shrinking by -34.8% compared with 2020 figures. In general, exports, however, enjoyed a perceptible increase. The growth pace was the most rapid in 2013 when exports increased by 130% against the previous year. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, vapour power unit exports shrank sharply to $X in 2021. Over the period under review, exports showed a perceptible curtailment. The growth pace was the most rapid in 2018 when exports increased by 51%. Over the period under review, the exports attained the peak figure at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

China was the main exporter of condensers for steam or other vapour power units in Asia, with the volume of exports reaching X tons, which was approx. 76% of total exports in 2021. South Korea (X tons) ranks second in terms of the total exports with a 13% share, followed by India (4.7%). The following exporters - Japan (X tons) and Indonesia (X tons) - each amounted to a 4.1% share of total exports.

China was also the fastest-growing in terms of the condensers for steam or other vapour power units exports, with a CAGR of +8.4% from 2012 to 2021. South Korea (-1.6%), India (-5.8%), Indonesia (-6.1%) and Japan (-18.1%) illustrated a downward trend over the same period. China (+28 p.p.) significantly strengthened its position in terms of the total exports, while Indonesia, India, South Korea and Japan saw its share reduced by -2.6%, -5.7%, -6.3% and -14.3% from 2012 to 2021, respectively.

In value terms, China ($X) emerged as the largest vapour power unit supplier in Asia, comprising 63% of total exports. The second position in the ranking was taken by South Korea ($X), with an 18% share of total exports. It was followed by India, with a 6.5% share.

In China, vapour power unit exports increased at an average annual rate of +6.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: South Korea (-1.8% per year) and India (-6.7% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, falling by -25.3% against the previous year. In general, the export price showed a deep downturn. The growth pace was the most rapid in 2016 when the export price increased by 33%. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (-0.2%), while the other leaders experienced a decline in the export price figures.

Vapour Power Unit Imports

Imports in Asia

In 2021, the amount of condensers for steam or other vapour power units imported in Asia dropped markedly to X tons, falling by -26.4% against the previous year. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when imports increased by 138%. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, vapour power unit imports shrank remarkably to $X in 2021. Over the period under review, imports continue to indicate a pronounced decline. The pace of growth appeared the most rapid in 2014 with an increase of 116% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Indonesia (X tons) was the main importer of condensers for steam or other vapour power units, achieving 51% of total imports. Japan (X tons) took a 16% share (based on physical terms) of total imports, which put it in second place, followed by India (4.7%). The following importers - the United Arab Emirates (X tons), Thailand (X tons), South Korea (X tons), Saudi Arabia (X tons), Bangladesh (X tons), the Philippines (X tons) and Singapore (X tons) - together made up 18% of total imports.

From 2012 to 2021, average annual rates of growth with regard to vapour power unit imports into Indonesia stood at +13.7%. At the same time, the Philippines (+51.3%), Japan (+19.2%), the United Arab Emirates (+16.5%), India (+13.5%), Thailand (+13.5%) and South Korea (+1.2%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in Asia, with a CAGR of +51.3% from 2012-2021. By contrast, Bangladesh (-5.8%), Singapore (-7.6%) and Saudi Arabia (-28.3%) illustrated a downward trend over the same period. Indonesia (+34 p.p.), Japan (+13 p.p.), India (+3.1 p.p.), the United Arab Emirates (+2.9 p.p.), Thailand (+2.5 p.p.) and the Philippines (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while Bangladesh, Singapore and Saudi Arabia saw its share reduced by -1.6%, -1.9% and -40.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) constitutes the largest market for imported condensers for steam or other vapour power units in Asia, comprising 48% of total imports. The second position in the ranking was taken by Japan ($X), with a 12% share of total imports. It was followed by the United Arab Emirates, with a 6.6% share.

In Indonesia, vapour power unit imports expanded at an average annual rate of +12.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Japan (+11.2% per year) and the United Arab Emirates (+10.7% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, with a decrease of -10.1% against the previous year. In general, the import price continues to indicate a noticeable slump. The growth pace was the most rapid in 2019 when the import price increased by 27% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was the United Arab Emirates ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+3.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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