Pakistan: Steam Turbine Market 2024

Steam Turbine Market Size in Pakistan

In 2021, the Pakistani steam turbine market decreased by -1.6% to $X for the first time since 2013, thus ending a seven-year rising trend. Overall, consumption, however, enjoyed a significant increase. Steam turbine consumption peaked at $X in 2020, and then shrank modestly in the following year.

Steam Turbine Production in Pakistan

In value terms, steam turbine production declined to $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed significant growth. The pace of growth appeared the most rapid in 2014 when the production volume increased by 1,233%. Steam turbine production peaked at $X in 2020, and then fell modestly in the following year.

Steam Turbine Exports

Exports from Pakistan

For the third year in a row, Pakistan recorded decline in overseas shipments of steam turbines and other vapor turbines, which decreased by -14% to X units in 2021. In general, exports, however, saw a significant expansion. The growth pace was the most rapid in 2014 when exports increased by 1,158% against the previous year. The exports peaked at X units in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, steam turbine exports dropped notably to $X in 2021. Overall, exports, however, posted buoyant growth. The growth pace was the most rapid in 2013 when exports increased by 10,290%. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X units) and the United States (X units) were the main destinations of steam turbine exports from Pakistan.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +32.2%).

In value terms, the largest markets for steam turbine exported from Pakistan were the United States ($X), China ($X) and the United Arab Emirates ($X).

China, with a CAGR of +152.5%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average steam turbine export price stood at $X per unit in 2021, which is down by -97.3% against the previous year. Overall, the export price continues to indicate a drastic downturn. The growth pace was the most rapid in 2020 when the average export price increased by 2,284%. As a result, the export price attained the peak level of $X per unit, and then contracted remarkably in the following year.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was the United States ($X per unit), while the average price for exports to China stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+262.5%), while the prices for the other major destinations experienced mixed trend patterns.

Steam Turbine Imports

Imports into Pakistan

In 2021, purchases abroad of steam turbines and other vapor turbines increased by 959% to X units, rising for the second consecutive year after two years of decline. Overall, imports enjoyed a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, steam turbine imports soared to $X in 2021. In general, imports posted a strong increase. The most prominent rate of growth was recorded in 2020 with an increase of 106% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the Netherlands (X units) was the main steam turbine supplier to Pakistan, with a 90% share of total imports. Moreover, steam turbine imports from the Netherlands exceeded the figures recorded by the second-largest supplier, South Korea (X units), more than tenfold. The third position in this ranking was taken by the Czech Republic (X units), with a 3% share.

From 2012 to 2021, the average annual growth rate of volume from the Netherlands amounted to +102.6%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+88.7% per year) and the Czech Republic (+40.0% per year).

In value terms, the Netherlands ($X), Germany ($X) and the Czech Republic ($X) appeared to be the largest steam turbine suppliers to Pakistan, together comprising 79% of total imports. France, Italy and South Korea lagged somewhat behind, together comprising a further 6.9%.

Among the main suppliers, South Korea, with a CAGR of +98.3%, 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

In 2021, the average steam turbine import price amounted to $X per unit, shrinking by -87.8% against the previous year. Over the period under review, the import price saw a abrupt descent. The most prominent rate of growth was recorded in 2019 an increase of 142%. As a result, import price attained the peak level of $X per unit. From 2020 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+29.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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