Italy: Steam Turbine Market 2024

Steam Turbine Market Size in Italy

In 2021, the Italian steam turbine market increased by 3.8% to $X, rising for the second consecutive year after two years of decline. In general, consumption showed significant growth. Steam turbine consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Steam Turbine Production in Italy

In value terms, steam turbine production dropped modestly to $X in 2021 estimated in export price. In general, production enjoyed a significant increase. The growth pace was the most rapid in 2014 with an increase of 323% against the previous year. Steam turbine production peaked at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Steam Turbine Exports

Exports from Italy

In 2021, overseas shipments of steam turbines and other vapor turbines increased by 31% to X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, faced a abrupt downturn. The growth pace was the most rapid in 2018 when exports increased by 214%. The exports peaked at X units in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, steam turbine exports skyrocketed to $X in 2021. In general, exports, however, showed a deep contraction. The growth pace was the most rapid in 2014 when exports increased by 57% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Chile (X units), Switzerland (X units) and India (X units) were the main destinations of steam turbine exports from Italy, with a combined 80% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +115.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for steam turbine exported from Italy were Chile ($X), Switzerland ($X) and Israel ($X), with a combined 84% share of total exports.

Switzerland, with a CAGR of +47.2%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average steam turbine export price amounted to $X per unit, surging by 8% against the previous year. In general, the export price recorded a perceptible expansion. The most prominent rate of growth was recorded in 2017 when the average export price increased by 264% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2018 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Chile ($X per unit), while the average price for exports to Venezuela ($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 Chile (+6.4%), while the prices for the other major destinations experienced mixed trend patterns.

Steam Turbine Imports

Imports into Italy

In 2021, overseas purchases of steam turbines and other vapor turbines increased by 84% to X units, rising for the second year in a row after three years of decline. Overall, imports, however, recorded a noticeable descent. The most prominent rate of growth was recorded in 2020 with an increase of 225%. Imports peaked at X units in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, steam turbine imports contracted to $X in 2021. In general, imports, however, continue to indicate a abrupt descent. The pace of growth appeared the most rapid in 2020 when imports increased by 283% against the previous year. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Germany (X units) constituted the largest steam turbine supplier to Italy, accounting for a 65% share of total imports. Moreover, steam turbine imports from Germany exceeded the figures recorded by the second-largest supplier, France (X units), fourfold. The third position in this ranking was held by India (X units), with a 9.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany stood at +1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-6.2% per year) and India (+23.3% per year).

In value terms, the largest steam turbine suppliers to Italy were Germany ($X), France ($X) and the United States ($X), with a combined 88% share of total imports. India, Malaysia and Poland lagged somewhat behind, together accounting for a further 5.8%.

Malaysia, with a CAGR of +152.2%, saw the highest rates of growth with regard to 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, which is down by -52.8% against the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the average import price increased by 108%. Over the period under review, average import prices reached the peak figure at $X per unit in 2020, and then declined significantly in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+24.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :