Turkey: Steam Turbine Market 2024

Steam Turbine Market Size in Turkey

The Turkish steam turbine market surged to $X in 2021, with an increase of 39% against the previous year. In general, consumption showed a significant increase. Over the period under review, the market reached the peak level in 2021 and is likely to continue growth in the near future.

Steam Turbine Production in Turkey

In value terms, steam turbine production stood at $X in 2021 estimated in export price. Over the period under review, production saw a significant expansion. The growth pace was the most rapid in 2016 with an increase of 199%. Over the period under review, production reached the peak level at $X in 2019; afterwards, it flattened through to 2021.

Steam Turbine Exports

Exports from Turkey

Steam turbine exports from Turkey soared to X units in 2021, growing by 130% compared with 2020 figures. In general, exports continue to indicate strong growth. The most prominent rate of growth was recorded in 2017 with an increase of 1,183%. The exports peaked at X units in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, steam turbine exports soared to $X in 2021. Overall, exports saw a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Uzbekistan (X units) was the main destination for steam turbine exports from Turkey, accounting for a 54% share of total exports. Moreover, steam turbine exports to Uzbekistan exceeded the volume sent to the second major destination, Indonesia (X units), twofold. The third position in this ranking was taken by Italy (X units), with an 8.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Uzbekistan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+158.1% per year) and Italy (+28.1% per year).

In value terms, Uzbekistan ($X) emerged as the key foreign market for steam turbines and other vapor turbines exports from Turkey, comprising 82% of total exports. The second position in the ranking was held by Indonesia ($X), with a 5.7% share of total exports. It was followed by South Africa, with a 5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Uzbekistan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+162.2% per year) and South Africa (+39.9% per year).

Export Prices by Country

In 2021, the average steam turbine export price amounted to $X per unit, increasing by 224% against the previous year. In general, the export price enjoyed a moderate expansion. The growth pace was the most rapid in 2014 an increase of 311% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2021, the average 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 South Africa ($X per unit), while the average price for exports to Italy ($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 Bolivia (+113.0%), while the prices for the other major destinations experienced more modest paces of growth.

Steam Turbine Imports

Imports into Turkey

In 2021, approx. X units of steam turbines and other vapor turbines were imported into Turkey; increasing by 35% on 2020 figures. Over the period under review, imports enjoyed strong growth. The pace of growth appeared the most rapid in 2020 with an increase of 691% against the previous year. Imports peaked at X units in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, steam turbine imports skyrocketed to $X in 2021. Overall, imports posted a prominent increase. The growth pace was the most rapid in 2020 when imports increased by 275%. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of steam turbine to Turkey, accounting for a 70% share of total imports. Moreover, steam turbine imports from China exceeded the figures recorded by the second-largest supplier, France (X units), fourfold. Germany (X units) ranked third in terms of total imports with a 4.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+104.7% per year) and Germany (+7.3% per year).

In value terms, the largest steam turbine suppliers to Turkey were France ($X), China ($X) and Germany ($X), with a combined 88% share of total imports.

In terms of the main suppliers, France, with a CAGR of +94.2%, saw 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, increasing by 36% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 149% against the previous year. As a result, import price attained the peak level of $X per unit. From 2020 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-1.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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