Russian Federation: Steam Turbine Market 2024

Steam Turbine Market Size in the Russian Federation

In 2021, the Russian steam turbine market increased by 2.2% to $X for the first time since 2017, thus ending a three-year declining trend. Over the period under review, consumption recorded a significant expansion. Steam turbine consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Steam Turbine Production in the Russian Federation

In value terms, steam turbine production dropped to $X in 2021 estimated in export price. Over the period under review, production, however, saw a abrupt contraction. The most prominent rate of growth was recorded in 2014 when the production volume increased by 213% against the previous year. Over the period under review, production attained the maximum level at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Steam Turbine Exports

Exports from the Russian Federation

In 2021, after two years of growth, there was significant decline in overseas shipments of steam turbines and other vapor turbines, when their volume decreased by -99.8% to X units. In general, exports faced a significant curtailment. The pace of growth appeared the most rapid in 2017 with an increase of 362%. Over the period under review, the exports attained the maximum at X units in 2020, and then reduced markedly in the following year.

In value terms, steam turbine exports surged to $X in 2021. Overall, exports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2017 with an increase of 215% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

Exports by Country

India (X units), Vietnam (X units) and Kazakhstan (X units) were the main destinations of steam turbine exports from Russia.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of -7.6%), while the other leaders experienced a decline.

In value terms, India ($X) remains the key foreign market for steam turbines and other vapor turbines exports from Russia, comprising 100% of total exports. The second position in the ranking was held by Vietnam ($X), with a 0.1% share of total exports. It was followed by Kazakhstan, with less than 0.1% share.

From 2012 to 2021, the average annual growth rate of value to India amounted to +36.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (-45.3% per year) and Kazakhstan (-62.3% per year).

Export Prices by Country

The average steam turbine export price stood at $X per unit in 2021, increasing by 97,946% against the previous year. Over the period under review, the export price saw a significant expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was India ($X per unit), while the average price for exports to Kazakhstan ($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 India (+47.2%), while the prices for the other major destinations experienced mixed trend patterns.

Steam Turbine Imports

Imports into the Russian Federation

Steam turbine imports into Russia soared to X units in 2021, growing by 129% against 2020. Over the period under review, imports, however, continue to indicate a abrupt setback. The pace of growth appeared the most rapid in 2018 when imports increased by 1,872% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, steam turbine imports amounted to $X in 2021. In general, imports, however, showed a abrupt slump. The growth pace was the most rapid in 2018 when imports increased by 661% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Germany (X units) constituted the largest steam turbine supplier to Russia, accounting for a 79% share of total imports. Moreover, steam turbine imports from Germany exceeded the figures recorded by the second-largest supplier, the Czech Republic (X units), fivefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany totaled +1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (-1.1% per year) and Georgia (0.0% per year).

In value terms, Germany ($X), the Czech Republic ($X) and Georgia ($X) appeared to be the largest steam turbine suppliers to Russia, with a combined 96% share of total imports.

Among the main suppliers, Germany, with a CAGR of +6.0%, saw the highest rates of growth with regard to 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, falling by -56.2% against the previous year. In general, the import price saw a abrupt decrease. The growth pace was the most rapid in 2019 when the average import price increased by 236%. As a result, import price reached the peak level of $X per unit. From 2020 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+29.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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