MENA: Steam Turbine Market 2024

Steam Turbine Market Size in MENA

In 2021, the MENA's steam turbine market decreased by -0.8% to $X, falling for the second consecutive year after eight years of growth. Overall, consumption enjoyed 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 MENA

In value terms, steam turbine production reduced to $X in 2021 estimated in export price. Overall, production saw significant growth. The most prominent rate of growth was recorded in 2014 when the production volume increased by 955% against the previous year. Over the period under review, production reached the maximum level at $X in 2020, and then shrank in the following year.

Steam Turbine Exports

Exports in MENA

In 2021, steam turbine exports in MENA surged to X units, growing by 96% compared with 2020. In general, exports posted strong growth. The pace of growth appeared the most rapid in 2013 with an increase of 220% against the previous year. The volume of export peaked at X units in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, steam turbine exports surged to $X in 2021. Overall, exports, however, continue to indicate a pronounced decrease. The level of export peaked at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Turkey was the largest exporting country with an export of around X units, which finished at 81% of total exports. The United Arab Emirates (X units) ranks second in terms of the total exports with a 10% share, followed by Israel (8.6%).

Turkey was also the fastest-growing in terms of the steam turbines and other vapor turbines exports, with a CAGR of +16.4% from 2012 to 2021. At the same time, Israel (+6.3%) and the United Arab Emirates (+3.4%) displayed positive paces of growth. While the share of Turkey (+21 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Israel (-5.9 p.p.) and the United Arab Emirates (-11.8 p.p.) displayed negative dynamics.

In value terms, Turkey ($X), Israel ($X) and the United Arab Emirates ($X) appeared to be the countries with the highest levels of exports in 2021, together comprising 96% of total exports.

In terms of the main exporting countries, Turkey, with a CAGR of +22.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in MENA amounted to $X per unit, which is down by -6.7% against the previous year. Over the period under review, the export price showed a deep reduction. The pace of growth appeared the most rapid in 2014 when the export price increased by 224%. Over the period under review, the export prices reached the peak figure at $X per unit in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+4.8%), while the other leaders experienced a decline in the export price figures.

Steam Turbine Imports

Imports in MENA

In 2021, purchases abroad of steam turbines and other vapor turbines increased by 29% to X units, rising for the second consecutive year after two years of decline. Over the period under review, imports continue to indicate a tangible increase. The most prominent rate of growth was recorded in 2013 with an increase of 218%. As a result, imports attained the peak of X units. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, steam turbine imports surged to $X in 2021. Overall, imports posted noticeable growth. The pace of growth appeared the most rapid in 2013 when imports increased by 134% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Turkey dominates imports structure, accounting for X units, which was approx. 87% of total imports in 2021. It was distantly followed by the United Arab Emirates (X units), generating a 4.9% share of total imports. Algeria (X units) followed a long way behind the leaders.

Imports into Turkey increased at an average annual rate of +5.7% from 2012 to 2021. At the same time, Algeria (+11.5%) and the United Arab Emirates (+3.8%) displayed positive paces of growth. Moreover, Algeria emerged as the fastest-growing importer imported in MENA, with a CAGR of +11.5% from 2012-2021. While the share of Turkey (+6.3 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported steam turbines and other vapor turbines in MENA, comprising 58% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 7.9% share of total imports.

From 2012 to 2021, the average annual growth rate of value in Turkey totaled +5.7%. In the other countries, the average annual rates were as follows: the United Arab Emirates (+1.9% per year) and Algeria (-13.5% per year).

Import Prices by Country

In 2021, the import price in MENA amounted to $X per unit, rising by 10% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 112% against the previous year. The level of import peaked at $X per unit in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the United Arab Emirates ($X per unit), while Algeria ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+0.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform