United Kingdom: Steam Turbine Market 2024

Steam Turbine Market Size in the UK

In 2021, after nine years of growth, there was significant decline in the UK steam turbine market, when its value decreased by -5.4% to $X. In general, consumption saw a significant expansion. Steam turbine consumption peaked at $X in 2020, and then declined in the following year.

Steam Turbine Production in the UK

In value terms, steam turbine production dropped to $X in 2021 estimated in export price. Overall, production enjoyed significant growth. The pace of growth was the most pronounced in 2014 when the production volume increased by 434% against the previous year. Steam turbine production peaked at $X in 2020, and then contracted in the following year.

Steam Turbine Exports

Exports from the UK

After two years of growth, shipments abroad of steam turbines and other vapor turbines decreased by -24.1% to X units in 2021. In general, exports, however, continue to indicate tangible growth. The most prominent rate of growth was recorded in 2020 when exports increased by 573%. As a result, the exports reached the peak of X units, and then shrank markedly in the following year.

In value terms, steam turbine exports contracted notably to $X in 2021. Over the period under review, exports showed a deep contraction. The pace of growth appeared the most rapid in 2020 with an increase of 569%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

India (X units), Turkey (X units) and Paraguay (X units) were the main destinations of steam turbine exports from the UK, with a combined 46% share of total exports. New Zealand, Oman, Yemen, Germany, Bahrain, Pakistan, Bangladesh, Brazil, Kenya and South Africa lagged somewhat behind, together accounting for a further 46%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bangladesh (with a CAGR of +172.3%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) emerged as the key foreign market for steam turbines and other vapor turbines exports from the UK, comprising 30% of total exports. The second position in the ranking was held by India ($X), with a 13% share of total exports. It was followed by Turkey, with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany totaled +91.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+54.7% per year) and Turkey (+18.8% per year).

Export Prices by Country

In 2021, the average steam turbine export price amounted to $X per unit, waning by -26% against the previous year. Overall, the export price showed a abrupt curtailment. The pace of growth appeared the most rapid in 2018 an increase of 131% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Germany ($X per unit), while the average price for exports to Yemen ($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 Germany (+12.7%), while the prices for the other major destinations experienced a decline.

Steam Turbine Imports

Imports into the UK

In 2021, overseas purchases of steam turbines and other vapor turbines increased by 15% to X units, rising for the second consecutive year after three years of decline. Over the period under review, imports, however, showed a pronounced decrease. The growth pace was the most rapid in 2020 when imports increased by 900%. Imports peaked at X units in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, steam turbine imports skyrocketed to $X in 2021. In general, imports, however, showed a perceptible descent. The most prominent rate of growth was recorded in 2020 with an increase of 535%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

The Czech Republic (X units), India (X units) and Germany (X units) were the main suppliers of steam turbine imports to the UK, with a combined 92% share of total imports. These countries were followed by Norway, the United States and China, which together accounted for a further 7.8%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Norway (with a CAGR of +32.8%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest steam turbine suppliers to the UK were Germany ($X), the Czech Republic ($X) and India ($X), with a combined 94% share of total imports. These countries were followed by Norway, the United States and China, which together accounted for a further 3.1%.

Norway, with a CAGR of +33.9%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average steam turbine import price amounted to $X per unit, with an increase of 168% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the average import price increased by 406% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per unit), while the price for Norway ($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 (+17.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :