Mexico: Steam Turbine Market 2024

Steam Turbine Market Size in Mexico

In 2021, the Mexican steam turbine market increased by 79% to $X, rising for the second consecutive year after two years of decline. Overall, consumption, however, recorded a deep slump. Steam turbine consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Steam Turbine Exports

Exports from Mexico

In 2021, the amount of steam turbines and other vapor turbines exported from Mexico declined sharply to X units, which is down by -31.1% against the previous year. Over the period under review, exports showed a precipitous shrinkage. The growth pace was the most rapid in 2015 with an increase of 4,722%. As a result, the exports attained the peak of X units. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, steam turbine exports shrank dramatically to $X in 2021. In general, exports faced a significant decrease. The most prominent rate of growth was recorded in 2015 with an increase of 4,119%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X units), Chile (X units) and the Dominican Republic (X units) were the main destinations of steam turbine exports from Mexico, with a combined 90% share of total exports. Moreover, steam turbine exports in the United States exceeded the figures recorded by the second-largest exporter, Chile, twofold.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Chile (with a CAGR of 0.0%), while the other leaders experienced a decline.

In value terms, the largest markets for steam turbine exported from Mexico were the United States ($X), Chile ($X) and the Dominican Republic ($X), with a combined 87% share of total exports.

In terms of the main countries of destination, the Dominican Republic, with a CAGR of +5.6%, 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 more modest paces of growth.

Export Prices by Country

In 2021, the average steam turbine export price amounted to $X per unit, picking up by 12% against the previous year. Overall, the export price, however, recorded a deep setback. The most prominent rate of growth was recorded in 2016 an increase of 71% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the 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 Guatemala ($X per unit), while the average price for exports to the Dominican Republic ($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 South Africa (+25.0%), while the prices for the other major destinations experienced more modest paces of growth.

Steam Turbine Imports

Imports into Mexico

In 2021, overseas purchases of steam turbines and other vapor turbines increased by 67% to X units, rising for the second consecutive year after two years of decline. Over the period under review, imports, however, continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2020 with an increase of 1,691% against the previous year. Over the period under review, imports attained the maximum at X units in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, steam turbine imports skyrocketed to $X in 2021. In general, imports, however, saw a deep reduction. The most prominent rate of growth was recorded in 2020 when imports increased by 424% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Japan (X units) constituted the largest supplier of steam turbine to Mexico, with a 87% share of total imports. Moreover, steam turbine imports from Japan exceeded the figures recorded by the second-largest supplier, Germany (X units), more than tenfold. The United States (X units) ranked third in terms of total imports with a 2.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Japan amounted to -3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-23.6% per year) and the United States (+12.5% per year).

In value terms, Japan ($X) constituted the largest supplier of steam turbines and other vapor turbines to Mexico, comprising 60% of total imports. The second position in the ranking was held by China ($X), with a 9.2% share of total imports. It was followed by the United States, with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan totaled -3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+16.8% per year) and the United States (-14.9% per year).

Import Prices by Country

In 2021, the average steam turbine import price amounted to $X per unit, growing by 33% against the previous year. Over the period under review, the import price, however, showed a noticeable contraction. The pace of growth appeared the most rapid in 2019 when the average import price increased by 233%. As a result, import price reached the peak level of $X per unit. From 2020 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+18,827.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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