New Zealand: Steam Turbine Market 2024

Steam Turbine Market Size in New Zealand

The New Zealand steam turbine market expanded rapidly to $X in 2021, growing by 9.6% against the previous year. In general, consumption showed a significant increase. Steam turbine consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Steam Turbine Production in New Zealand

In value terms, steam turbine production expanded sharply to $X in 2021 estimated in export price. In general, production saw a significant increase. The growth pace was the most rapid in 2014 with an increase of 1,665%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Steam Turbine Exports

Exports from New Zealand

After three years of decline, shipments abroad of steam turbines and other vapor turbines decreased by 0% to X units in 2021. Overall, exports faced a sharp decrease. The pace of growth appeared the most rapid in 2013 with an increase of 450% against the previous year. As a result, the exports reached the peak of X units. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, steam turbine exports shrank modestly to $X in 2021. Over the period under review, exports recorded a deep contraction. The growth pace was the most rapid in 2013 when exports increased by 2,126% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for steam turbine exports from New Zealand, with a 75% share of total exports. Moreover, steam turbine exports to the United States exceeded the volume sent to the second major destination, Tonga (X units), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled +2.0%.

In value terms, Tonga ($X) remains the key foreign market for steam turbines and other vapor turbines exports from New Zealand, comprising 90% of total exports. The second position in the ranking was held by the United States ($X), with an 8.2% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Tonga totaled +39.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-5.2% per year) and Australia (-34.3% per year).

Export Prices by Country

In 2021, the average steam turbine export price amounted to $X per unit, approximately equating the previous year. Overall, the export price, however, enjoyed resilient growth. The growth pace was the most rapid in 2013 an increase of 305% against the previous year. The export price peaked at $X per unit in 2020, and then declined modestly in the following year.

Prices varied noticeably country of destination: the country with the highest price was Tonga ($X per unit), while the average price for exports to the United States totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+68.0%), while the prices for the other major destinations experienced mixed trend patterns.

Steam Turbine Imports

Imports into New Zealand

Steam turbine imports into New Zealand contracted notably to X units in 2021, with a decrease of -42.9% against 2020 figures. Over the period under review, imports showed a abrupt decrease. The growth pace was the most rapid in 2013 when imports increased by 136%. Over the period under review, imports reached the peak figure at X units in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, steam turbine imports contracted sharply to $X in 2021. Overall, imports showed a deep setback. The pace of growth was the most pronounced in 2013 when imports increased by 119% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The UK (X units), Japan (X units) and the United States (X units) were the main suppliers of steam turbine imports to New Zealand.

From 2012 to 2021, the biggest increases were recorded for Japan (with a CAGR of +29.2%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Australia ($X) constituted the largest supplier of steam turbines and other vapor turbines to New Zealand, comprising 65% of total imports. The second position in the ranking was held by the UK ($X), with a 16% share of total imports. It was followed by the United States, with an 8% share.

From 2012 to 2021, the average annual growth rate of value from Australia amounted to +11.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-22.8% per year) and the United States (-0.4% per year).

Import Prices by Country

The average steam turbine import price stood at $X per unit in 2021, shrinking by -45.7% against the previous year. Over the period under review, the import price, however, continues to indicate a modest increase. The pace of growth appeared the most rapid in 2017 an increase of 181%. Over the period under review, average import prices reached the peak figure at $X per unit in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+23.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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