Canada: Steam Turbine Market 2024

Steam Turbine Market Size in Canada

In 2021, after seven years of growth, there was decline in the Canadian steam turbine market, when its value decreased by -0.9% to $X. In general, consumption, however, showed significant growth. Over the period under review, the market hit record highs at $X in 2020, and then reduced modestly in the following year.

Steam Turbine Production in Canada

In value terms, steam turbine production reduced modestly to $X in 2021 estimated in export price. Overall, production, however, showed a significant increase. The pace of growth was the most pronounced in 2014 when the production volume increased by 282%. Steam turbine production peaked at $X in 2020, and then declined in the following year.

Steam Turbine Exports

Exports from Canada

In 2021, shipments abroad of steam turbines and other vapor turbines decreased by -70.1% to X units, falling for the third year in a row after three years of growth. Over the period under review, exports continue to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2014 with an increase of 357% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, steam turbine exports skyrocketed to $X in 2021. Overall, exports, however, continue to indicate a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Indonesia (X units) was the main destination for steam turbine exports from Canada, with a 54% share of total exports. Moreover, steam turbine exports to Indonesia exceeded the volume sent to the second major destination, Nigeria (X units), twofold. The third position in this ranking was held by the United States (X units), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Indonesia totaled -10.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (0.0% per year) and the United States (+8.0% per year).

In value terms, the United States ($X) emerged as the key foreign market for steam turbines and other vapor turbines exports from Canada, comprising 61% of total exports. The second position in the ranking was taken by South Africa ($X), with a 1.8% share of total exports. It was followed by Indonesia, with a 0.8% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +108.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (+14.8% per year) and Indonesia (-14.5% per year).

Export Prices by Country

In 2021, the average steam turbine export price amounted to $X per unit, increasing by 1,964% against the previous year. Over the period under review, the export price saw a significant expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per unit), while the average price for exports to the Dominican Republic ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+92.8%), while the prices for the other major destinations experienced more modest paces of growth.

Steam Turbine Imports

Imports into Canada

For the fourth year in a row, Canada recorded growth in purchases abroad of steam turbines and other vapor turbines, which increased by 3,342% to X units in 2021. In general, imports posted a strong expansion. Over the period under review, imports hit record highs at X units in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, steam turbine imports skyrocketed to $X in 2021. Overall, imports, however, continue to indicate a abrupt curtailment. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

The Czech Republic (X units), Japan (X units) and the United States (X units) were the main suppliers of steam turbine imports to Canada, together accounting for 97% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Czech Republic (with a CAGR of +26.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), the Czech Republic ($X) and Japan ($X) constituted the largest steam turbine suppliers to Canada, together accounting for 79% of total imports. These countries were followed by Germany, China and Spain, which together accounted for a further 9.8%.

Germany, with a CAGR of +29.2%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average steam turbine import price stood at $X per unit in 2021, dropping by -87.3% against the previous year. Overall, the import price showed a drastic downturn. The pace of growth appeared the most rapid in 2017 an increase of 5,781% against the previous year. The import price peaked at $X per unit in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+3,368.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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