Benelux: Steam Turbine Market 2024

Steam Turbine Market Size in Benelux

In 2021, the Benelux steam turbine market decreased by -2.2% to $X, falling for the second year in a row after two years of growth. In general, consumption, however, continues to indicate a significant expansion. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Steam Turbine Production in Benelux

In value terms, steam turbine production expanded notably to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 702%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Steam Turbine Exports

Exports in Benelux

In 2021, the amount of steam turbines and other vapor turbines exported in Benelux dropped significantly to X units, with a decrease of -78.5% on the year before. Over the period under review, exports showed a deep setback. The growth pace was the most rapid in 2019 when exports increased by 240% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, steam turbine exports reduced remarkably to $X in 2021. In general, exports recorded a dramatic setback. The pace of growth appeared the most rapid in 2019 when exports increased by 809%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Belgium prevails in exports structure, finishing at X units, which was approx. 86% of total exports in 2021. Luxembourg (X units) took a 7.4% share (based on physical terms) of total exports, which put it in second place, followed by the Netherlands (6.6%).

Exports from Belgium decreased at an average annual rate of -19.1% from 2012 to 2021. Luxembourg (-3.2%) and the Netherlands (-22.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Luxembourg increased by +5.9 percentage points.

In value terms, Belgium ($X) emerged as the largest steam turbine supplier in Benelux, comprising 56% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 25% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Belgium stood at -30.2%. In the other countries, the average annual rates were as follows: the Netherlands (-28.9% per year) and Luxembourg (-1.1% per year).

Export Prices by Country

In 2021, the export price in Benelux amounted to $X per unit, declining by -29.5% against the previous year. Overall, the export price saw a abrupt decrease. The pace of growth appeared the most rapid in 2019 an increase of 167% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Luxembourg (+2.2%), while the other leaders experienced a decline in the export price figures.

Steam Turbine Imports

Imports in Benelux

Steam turbine imports surged to X units in 2021, increasing by 600% against the previous year. Overall, imports, however, continue to indicate a dramatic decrease. Over the period under review, imports attained the maximum at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, steam turbine imports reduced slightly to $X in 2021. Over the period under review, imports, however, continue to indicate a sharp decline. The most prominent rate of growth was recorded in 2017 with an increase of 301%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Belgium dominates imports structure, finishing at X units, which was approx. 97% of total imports in 2021. The Netherlands (X units) followed a long way behind the leaders.

Belgium was also the fastest-growing in terms of the steam turbines and other vapor turbines imports, with a CAGR of -19.8% from 2012 to 2021. The Netherlands (-30.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Belgium increased by +6.6 percentage points.

In value terms, the largest steam turbine importing markets in Benelux were Belgium ($X) and the Netherlands ($X).

The Netherlands, with a CAGR of -22.7%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review.

Import Prices by Country

The import price in Benelux stood at $X per unit in 2021, dropping by -86.3% against the previous year. Overall, the import price showed a deep reduction. The most prominent rate of growth was recorded in 2020 when the import price increased by 117%. The level of import peaked at $X per unit in 2017; however, from 2018 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 Netherlands ($X per unit), while Belgium amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+11.8%).

Source: IndexBox Platform