Japan: Steam Turbine Market 2024

Steam Turbine Market Size in Japan

The Japanese steam turbine market fell to $X in 2021, waning by -4.3% against the previous year. Over the period under review, consumption, however, showed significant growth. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Steam Turbine Production in Japan

In value terms, steam turbine production fell modestly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a prominent increase. The growth pace was the most rapid in 2014 when the production volume increased by 223% against the previous year. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Steam Turbine Exports

Exports from Japan

Steam turbine exports from Japan declined slightly to X units in 2021, approximately mirroring the previous year's figure. Over the period under review, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2020 when exports increased by 35%. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, steam turbine exports reached $X in 2021. In general, exports continue to indicate a abrupt downturn. The growth pace was the most rapid in 2020 with an increase of 48% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

South Korea (X units), Thailand (X units) and Australia (X units) were the main destinations of steam turbine exports from Japan, with a combined 43% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Australia (with a CAGR of +209.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Bangladesh ($X), Thailand ($X) and Australia ($X) constituted the largest markets for steam turbine exported from Japan worldwide, with a combined 41% share of total exports.

Among the main countries of destination, Bangladesh, with a CAGR of +330.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average steam turbine export price stood at $X per unit in 2021, growing by 11% against the previous year. Over the period under review, the export price, however, showed a mild decrease. The pace of growth was the most pronounced in 2017 an increase of 23%. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Bangladesh ($X per unit), while the average price for exports to the United Arab Emirates ($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 Bangladesh (+37.8%), while the prices for the other major destinations experienced more modest paces of growth.

Steam Turbine Imports

Imports into Japan

In 2021, after three years of growth, there was significant decline in purchases abroad of steam turbines and other vapor turbines, when their volume decreased by -52.1% to X units. Overall, imports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 130%. Over the period under review, imports hit record highs at X units in 2020, and then contracted significantly in the following year.

In value terms, steam turbine imports rose notably to $X in 2021. In general, imports, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2018 with an increase of 114%. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, India (X units) constituted the largest supplier of steam turbine to Japan, accounting for a 51% share of total imports. Moreover, steam turbine imports from India exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. South Korea (X units) ranked third in terms of total imports with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from India amounted to +11.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-61.9% per year) and South Korea (+18.5% per year).

In value terms, India ($X) constituted the largest supplier of steam turbines and other vapor turbines to Japan, comprising 82% of total imports. The second position in the ranking was held by the United States ($X), with a 6% share of total imports. It was followed by China, with a 4.5% share.

From 2012 to 2021, the average annual growth rate of value from India stood at +38.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-15.7% per year) and China (-22.1% per year).

Import Prices by Country

In 2021, the average steam turbine import price amounted to $X per unit, rising by 131% against the previous year. Over the period under review, the import price continues to indicate a strong increase. As a result, import 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 supplying countries. In 2021, the country with the highest price was India ($X per unit), while the price for the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+23.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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