Malaysia: Steam Turbine Market 2024

Steam Turbine Market Size in Malaysia

In 2021, after nine years of growth, there was decline in the Malaysian steam turbine market, when its value decreased by -3.8% to $X. Over the period under review, consumption showed a significant expansion. Over the period under review, the market attained the maximum level at $X in 2020, and then shrank in the following year.

Steam Turbine Production in Malaysia

In value terms, steam turbine production contracted modestly to $X in 2021 estimated in export price. Over the period under review, production enjoyed a significant expansion. The growth pace was the most rapid in 2014 when the production volume increased by 812%. Steam turbine production peaked at $X in 2020, and then shrank modestly in the following year.

Steam Turbine Exports

Exports from Malaysia

For the third consecutive year, Malaysia recorded decline in shipments abroad of steam turbines and other vapor turbines, which decreased by -8.7% to X units in 2021. Overall, exports showed a dramatic descent. The most prominent rate of growth was recorded in 2018 when exports increased by 25%. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, steam turbine exports skyrocketed to $X in 2021. In general, exports continue to indicate a deep downturn. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Indonesia (X units), Guatemala (X units) and Singapore (X units) were the main destinations of steam turbine exports from Malaysia, with a combined 53% share of total exports. Colombia, Italy, Cote d'Ivoire, Papua New Guinea, Honduras, Solomon Islands, the United States, Thailand, Ghana and Congo lagged somewhat behind, together accounting for a further 45%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Solomon Islands (with a CAGR of +39.5%), while the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X) remains the key foreign market for steam turbines and other vapor turbines exports from Malaysia, comprising 44% of total exports. The second position in the ranking was taken by the United States ($X), with a 19% share of total exports. It was followed by Honduras, with an 8.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Indonesia amounted to -18.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+43.7% per year) and Honduras (-0.1% per year).

Export Prices by Country

In 2021, the average steam turbine export price amounted to $X per unit, picking up by 71% against the previous year. In general, the export price continues to indicate prominent growth. The pace of growth appeared the most rapid in 2013 when the average export price increased by 125% against the previous year. The export price peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per unit), while the average price for exports to Congo ($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 the United States (+58.2%), while the prices for the other major destinations experienced more modest paces of growth.

Steam Turbine Imports

Imports into Malaysia

In 2021, the amount of steam turbines and other vapor turbines imported into Malaysia fell remarkably to X units, dropping by -62.2% compared with the previous year. Over the period under review, imports continue to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2014 with an increase of 161%. As a result, imports reached the peak of X units. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, steam turbine imports shrank markedly to $X in 2021. In general, imports continue to indicate a deep slump. The pace of growth appeared the most rapid in 2016 when imports increased by 191%. Imports peaked at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, France (X units) constituted the largest steam turbine supplier to Malaysia, accounting for a 46% share of total imports. Moreover, steam turbine imports from France exceeded the figures recorded by the second-largest supplier, Japan (X units), twofold. The third position in this ranking was held by Germany (X units), with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from France amounted to +10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-18.4% per year) and Germany (+7.2% per year).

In value terms, Germany ($X), Japan ($X) and China ($X) were the largest steam turbine suppliers to Malaysia, together accounting for 75% of total imports. These countries were followed by India, France, Belgium, Singapore, the United States and Taiwan (Chinese), which together accounted for a further 22%.

In terms of the main suppliers, Belgium, with a CAGR of +194.3%, 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

The average steam turbine import price stood at $X per unit in 2021, increasing by 79% against the previous year. Overall, the import price continues to indicate a remarkable increase. The most prominent rate of growth was recorded in 2016 an increase of 142%. Over the period under review, average import prices hit record highs at $X per unit in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+99.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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