Europe: Steam Turbine Market 2024

Steam Turbine Market Size in Europe

The Europe steam turbine market dropped modestly to $X in 2021, therefore, remained relatively stable against the previous year. Over the period under review, consumption posted a significant increase. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Steam Turbine Production in Europe

In value terms, steam turbine production shrank modestly to $X in 2021 estimated in export price. In general, production showed a significant expansion. The pace of growth was the most pronounced in 2014 when the production volume increased by 802% against the previous year. Over the period under review, production attained the maximum level at $X in 2020, and then reduced in the following year.

Steam Turbine Exports

Exports in Europe

After three years of growth, shipments abroad of steam turbines and other vapor turbines decreased by -20.4% to X units in 2021. In general, exports showed a deep slump. The pace of growth was the most pronounced in 2016 with an increase of 20%. The volume of export peaked at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, steam turbine exports soared to $X in 2021. Over the period under review, exports saw a noticeable descent. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, the Czech Republic (X units), France (X units) and Germany (X units) represented the key exporter of steam turbines and other vapor turbines in Europe, committing 87% of total export. It was distantly followed by the UK (X units), creating a 4.9% share of total exports. Ukraine (X units) and Italy (X units) took a little share of total exports.

From 2012 to 2021, the biggest increases were recorded for Ukraine (with a CAGR of +22.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X), the Czech Republic ($X) and Germany ($X) constituted the countries with the highest levels of exports in 2021, together accounting for 68% of total exports. Ukraine, Italy and the UK lagged somewhat behind, together comprising a further 12%.

Ukraine, with a CAGR of +39.9%, recorded the highest growth rate of the value of exports, among 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 2021, the export price in Europe amounted to $X per unit, growing by 48% against the previous year. Export price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, steam turbine export price increased by +59.6% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ukraine (+14.0%), while the other leaders experienced more modest paces of growth.

Steam Turbine Imports

Imports in Europe

Steam turbine imports declined to X units in 2021, dropping by -5.2% on the previous year. In general, imports continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2018 when imports increased by 110%. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, steam turbine imports dropped to $X in 2021. Over the period under review, imports recorded a deep setback. The pace of growth appeared the most rapid in 2020 with an increase of 27% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of steam turbine imports in 2021 were Poland (X units), Iceland (X units), the UK (X units) and Germany (X units), together amounting to 71% of total import. Italy (X units) ranks next in terms of the total imports with a 7.2% share, followed by Russia (5.1%). Serbia (X units) and France (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Serbia (with a CAGR of +85.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest steam turbine importing markets in Europe were the UK ($X), Poland ($X) and Iceland ($X), together accounting for 44% of total imports. These countries were followed by Germany, Italy, Russia, Serbia and France, which together accounted for a further 29%.

In terms of the main importing countries, Serbia, with a CAGR of +70.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Europe amounted to $X per unit, approximately reflecting the previous year. Overall, the import price continues to indicate a perceptible decline. The most prominent rate of growth was recorded in 2017 when the import price increased by 40%. As a result, import price attained the peak level of $X per unit. From 2018 to 2021, the import prices remained 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 Italy ($X per unit), while Poland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+5.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform