Indonesia: Steam Turbine Market 2024

Steam Turbine Market Size in Indonesia

The Indonesian steam turbine market expanded slightly to $X in 2021, growing by 2.8% against the previous year. In general, consumption, however, posted a significant expansion. Steam turbine consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Steam Turbine Production in Indonesia

In value terms, steam turbine production expanded to $X in 2021 estimated in export price. Over the period under review, production, however, posted a resilient increase. The pace of growth appeared the most rapid in 2016 with an increase of 103%. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Steam Turbine Exports

Exports from Indonesia

In 2021, shipments abroad of steam turbines and other vapor turbines increased by 27% to X units for the first time since 2018, thus ending a two-year declining trend. In general, exports, however, continue to indicate a sharp decrease. The pace of growth appeared the most rapid in 2015 when exports increased by 877% against the previous year. Over the period under review, the exports attained the maximum at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, steam turbine exports skyrocketed to $X in 2021. Overall, exports, however, continue to indicate a abrupt shrinkage. The growth pace was the most rapid in 2018 when exports increased by 1,601%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia (X units) was the main destination for steam turbine exports from Indonesia, with a 91% share of total exports. Moreover, steam turbine exports to Malaysia exceeded the volume sent to the second major destination, Singapore (X units), more than tenfold. Germany (X units) ranked third in terms of total exports with a 1.9% share.

From 2012 to 2021, the average annual growth rate of volume to Malaysia amounted to +2.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-46.0% per year) and Germany (0.0% per year).

In value terms, Malaysia ($X) remains the key foreign market for steam turbines and other vapor turbines exports from Indonesia, comprising 96% of total exports. The second position in the ranking was held by Singapore ($X), with a 1.5% share of total exports. It was followed by India, with a 1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Malaysia stood at +8.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-40.3% per year) and India (-17.3% per year).

Export Prices by Country

In 2021, the average steam turbine export price amounted to $X per unit, picking up by 755% against the previous year. In general, the export price posted a significant increase. The pace of growth was the most pronounced in 2014 when the average export price increased by 800% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was India ($X per unit), while the average price for exports to Germany ($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 Japan (+74.2%), while the prices for the other major destinations experienced more modest paces of growth.

Steam Turbine Imports

Imports into Indonesia

In 2021, purchases abroad of steam turbines and other vapor turbines decreased by -58% to X units, falling for the second year in a row after two years of growth. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 283% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, steam turbine imports reduced markedly to $X in 2021. Overall, imports showed a pronounced setback. The growth pace was the most rapid in 2018 when imports increased by 179% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest steam turbine supplier to Indonesia, with a 76% share of total imports. Moreover, steam turbine imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), eightfold. The third position in this ranking was taken by Sweden (X units), with a 2.9% share.

From 2012 to 2021, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+8.9% per year) and Sweden (+0.8% per year).

In value terms, China ($X), Japan ($X) and Sweden ($X) appeared to be the largest steam turbine suppliers to Indonesia, with a combined 83% share of total imports. These countries were followed by Belgium, the Czech Republic, India and Taiwan (Chinese), which together accounted for a further 5.8%.

Taiwan (Chinese), with a CAGR of +63.1%, recorded 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 more modest paces of growth.

Import Prices by Country

In 2021, the average steam turbine import price amounted to $X per unit, approximately reflecting the previous year. Overall, the import price showed a pronounced downturn. The most prominent rate of growth was recorded in 2016 when the average import price increased by 79%. Over the period under review, average import prices hit record highs at $X per unit in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+14.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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