Eastern Europe: Steam Turbine Market 2024

Steam Turbine Market Size in Eastern Europe

In 2021, the East European steam turbine market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption saw a significant increase. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Steam Turbine Production in Eastern Europe

In value terms, steam turbine production expanded modestly to $X in 2021 estimated in export price. In general, production enjoyed significant growth. The pace of growth appeared the most rapid in 2014 when the production volume increased by 672%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Steam Turbine Exports

Exports in Eastern Europe

In 2021, the amount of steam turbines and other vapor turbines exported in Eastern Europe declined to X units, shrinking by -10% against the year before. Total exports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -27.9% against 2019 indices. The growth pace was the most rapid in 2019 when exports increased by 60% against the previous year. As a result, the exports reached the peak of X units. From 2020 to 2021, the growth of the exports failed to regain momentum.

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

Exports by Country

The Czech Republic prevails in exports structure, resulting at X units, which was approx. 90% of total exports in 2021. It was distantly followed by Ukraine (X units), mixing up a 9.2% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to steam turbine exports from the Czech Republic stood at +7.0%. At the same time, Ukraine (+22.7%) displayed positive paces of growth. Moreover, Ukraine emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +22.7% from 2012-2021. From 2012 to 2021, the share of the Czech Republic and Ukraine increased by +7.1 and +6.7 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Czech Republic ($X) remains the largest steam turbine supplier in Eastern Europe, comprising 50% of total exports. The second position in the ranking was held by Ukraine ($X), with a 14% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in the Czech Republic stood at +10.9%.

Export Prices by Country

The export price in Eastern Europe stood at $X per unit in 2021, surging by 86% against the previous year. Export price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, steam turbine export price increased by +133.3% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Ukraine ($X per unit), while the Czech Republic stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ukraine (+14.0%).

Steam Turbine Imports

Imports in Eastern Europe

In 2021, after two years of decline, there was growth in purchases abroad of steam turbines and other vapor turbines, when their volume increased by 1% to X units. Overall, imports, however, saw a drastic downturn. The growth pace was the most rapid in 2018 with an increase of 174%. The volume of import peaked at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, steam turbine imports shrank to $X in 2021. In general, imports, however, continue to indicate a abrupt decline. The pace of growth appeared the most rapid in 2018 when imports increased by 61%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Poland represented the main importing country with an import of about X units, which amounted to 76% of total imports. It was distantly followed by Russia (X units), achieving a 15% share of total imports. Belarus (X units) and the Czech Republic (X units) took a little share of total imports.

Poland was also the fastest-growing in terms of the steam turbines and other vapor turbines imports, with a CAGR of +14.5% from 2012 to 2021. Belarus (-11.3%), the Czech Republic (-11.4%) and Russia (-13.4%) illustrated a downward trend over the same period. While the share of Poland (+62 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of the Czech Republic (-1.6 p.p.), Belarus (-3.6 p.p.) and Russia (-19.4 p.p.) displayed negative dynamics.

In value terms, Poland ($X), Belarus ($X) and Russia ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 96% share of total imports.

Poland, with a CAGR of +12.3%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Eastern Europe stood at $X per unit in 2021, which is down by -9.3% against the previous year. In general, the import price continues to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2020 when the import price increased by 36% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belarus (+24.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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