United Arab Emirates: Steam Turbine Market 2024

Steam Turbine Market Size in the United Arab Emirates

In 2021, after three years of growth, there was significant decline in the steam turbine market in the United Arab Emirates, when its value decreased by -7.8% to $X. Overall, consumption, however, saw a significant increase. Over the period under review, the market attained the maximum level at $X in 2020, and then contracted in the following year.

Steam Turbine Production in the United Arab Emirates

In value terms, steam turbine production shrank sharply to $X in 2021 estimated in export price. In general, production, however, enjoyed a resilient increase. The growth pace was the most rapid in 2016 with an increase of 111%. Steam turbine production peaked at $X in 2020, and then dropped notably in the following year.

Steam Turbine Exports

Exports from the United Arab Emirates

In 2021, approx. X units of steam turbines and other vapor turbines were exported from the United Arab Emirates; with an increase of 23% against 2020 figures. Over the period under review, exports showed a notable increase. The most prominent rate of growth was recorded in 2015 when exports increased by 1,911% against the previous year. The exports peaked at X units in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, steam turbine exports expanded rapidly to $X in 2021. In general, exports, however, recorded a precipitous descent. The growth pace was the most rapid in 2015 when exports increased by 1,513% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Tanzania (X units) was the main destination for steam turbine exports from the United Arab Emirates, with a 89% share of total exports. Moreover, steam turbine exports to Tanzania exceeded the volume sent to the second major destination, Iran (X units), more than tenfold. Indonesia (X units) ranked third in terms of total exports with a 3.8% share.

From 2012 to 2021, the average annual growth rate of volume to Tanzania totaled +163.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (-21.7% per year) and Indonesia (0.0% per year).

In value terms, Iran ($X) remains the key foreign market for steam turbines and other vapor turbines exports from the United Arab Emirates, comprising 56% of total exports. The second position in the ranking was taken by Tanzania ($X), with a 28% share of total exports. It was followed by Indonesia, with a 5.9% share.

From 2012 to 2021, the average annual growth rate of value to Iran stood at -16.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tanzania (+236.0% per year) and Indonesia (0.0% per year).

Export Prices by Country

The average steam turbine export price stood at $X per unit in 2021, declining by -9% against the previous year. Over the period under review, the export price recorded a precipitous slump. The most prominent rate of growth was recorded in 2014 an increase of 128%. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Nigeria ($X per unit), while the average price for exports to Tanzania ($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 Nigeria (+18.5%), while the prices for the other major destinations experienced more modest paces of growth.

Steam Turbine Imports

Imports into the United Arab Emirates

In 2021, steam turbine imports into the United Arab Emirates soared to X units, surging by 554% compared with 2020. Overall, imports enjoyed a measured increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, steam turbine imports surged to $X in 2021. Over the period under review, imports enjoyed a slight increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units), South Korea (X units) and Germany (X units) were the main suppliers of steam turbine imports to the United Arab Emirates, together accounting for 91% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +27.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X) constituted the largest supplier of steam turbines and other vapor turbines to the United Arab Emirates, comprising 45% of total imports. The second position in the ranking was held by Japan ($X), with a 20% share of total imports. It was followed by Germany, with a 14% share.

From 2012 to 2021, the average annual growth rate of value from South Korea amounted to +190.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+38.2% per year) and Germany (-10.6% per year).

Import Prices by Country

In 2021, the average steam turbine import price amounted to $X per unit, which is down by -13.9% against the previous year. In general, the import price saw a slight descent. The pace of growth was the most pronounced in 2016 when the average import price increased by 36%. As a result, import price reached the peak level of $X per unit. From 2017 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 Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+27.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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