Report Update Jun 1, 2025

Vietnam - Steam Turbines and Other Vapor Turbines - Market Analysis, Forecast, Size, Trends and Insights

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Vietnam: Steam Turbine Market 2025

Steam Turbine Market Size in Vietnam

In 2021, after three years of decline, there was significant growth in the Vietnamese steam turbine market, when its value increased by 1,029% to $X. Over the period under review, consumption, however, continues to indicate a abrupt descent. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Steam Turbine Exports

Exports from Vietnam

In 2021, steam turbine exports from Vietnam reduced notably to X units, falling by -98.9% against the previous year's figure. Over the period under review, exports saw a deep downturn. The growth pace was the most rapid in 2015 when exports increased by 2,391% against the previous year. As a result, the exports reached the peak of X units. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, steam turbine exports declined sharply to $X in 2021. Overall, exports continue to indicate a dramatic curtailment. The growth pace was the most rapid in 2017 with an increase of 261%. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Russia (X units) was the main destination for steam turbine exports from Vietnam, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Russia was relatively modest.

In value terms, Russia ($X) emerged as the key foreign market for steam turbines and other vapor turbines exports from Vietnam.

From 2012 to 2021, the average annual growth rate of value to Russia totaled -11.0%.

Export Prices by Country

The average steam turbine export price stood at $X per unit in 2021, picking up by 474% against the previous year. Over the period under review, the export price, however, continues to indicate a dramatic decrease. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Russia.

From 2012 to 2021, the rate of growth in terms of prices for Lao People's Democratic Republic amounted to +52.1% per year.

Steam Turbine Imports

Imports into Vietnam

In 2021, after three years of decline, there was significant growth in purchases abroad of steam turbines and other vapor turbines, when their volume increased by 1,177% to X units. In general, imports, however, recorded a abrupt decline. Over the period under review, imports reached the maximum at X units in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, steam turbine imports surged to $X in 2021. Overall, imports, however, showed a abrupt decline. Imports peaked at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

Japan (X units), India (X units) and China (X units) were the main suppliers of steam turbine imports to Vietnam, with a combined 53% share of total imports. The Czech Republic, France, South Korea and Italy lagged somewhat behind, together comprising a further 15%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Czech Republic (with a CAGR of +30.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), South Korea ($X) and China ($X) were the largest steam turbine suppliers to Vietnam, with a combined 65% share of total imports.

In terms of the main suppliers, South Korea, with a CAGR of +55.0%, 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, with a decrease of -23.3% against the previous year. In general, the import price showed a pronounced descent. The most prominent rate of growth was recorded in 2018 an increase of 102% against the previous year. The import price peaked at $X per unit in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+32.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for steam turbines and other vapor turbines in the world?

The countries with the highest volumes of in 2021 were China, India and Indonesia, with a combined 72% share of global consumption. These countries were followed by Sweden, Turkey, Germany, Japan and Mongolia, which together accounted for a further 16%.

What are the largest producers of steam turbines and other vapor turbines in the world?

The countries with the highest volumes of in 2021 were China, India and Sweden, with a combined 82% share of global production.

What are the leading suppliers of steam turbines and other vapor turbines to Vietnam?

In value terms, China constituted the largest supplier of steam turbine to Vietnam, comprising 38% of total imports. The second position in the ranking was occupied by the Czech Republic, with a 15% share of total imports. It was followed by Japan, with a 12% share.

What are the leading importers of steam turbines and other vapor turbines from Vietnam?

In value terms, Russia remains the key foreign market for steam turbine exports from Vietnam.

What is the average export price for steam turbines and other vapor turbines in Vietnam?

The average steam turbine export price stood at $4,686 per unit in 2021, with an increase of 575% against the previous year.

What is the average import price for steam turbines and other vapor turbines in Vietnam?

In 2021, the average steam turbine import price amounted to $658 per unit, rising by 12% against the previous year.

This report provides an in-depth analysis of the steam turbine market in Vietnam. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 28112130 -
Prodcom 28112150 -

Country coverage:

Vietnam

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Vietnam
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND THE AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDSThis Chapter is Available Only for the Professional EditionPRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and its Prospects
1. MARKET SIZE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
2. MARKET STRUCTURE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
3. TRADE BALANCE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
4. PER CAPITA CONSUMPTION: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
5. MARKET FORECAST TO 2035
4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION

Finding New Products to Diversify Your Business
- This Chapter is Available Only for the Professional EditionPRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCTS
4. MOST TRADED PRODUCTS
5. MOST PROFITABLE PRODUCTS FOR EXPORTS
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
- This Chapter is Available Only for the Professional EditionPRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Export
- This Chapter is Available Only for the Professional EditionPRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
8. IMPORTS

The Largest Import Supplying Countries
1. IMPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
2. IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
3. IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
9. EXPORTS

The Largest Destinations for Exports
1. EXPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
2. EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
3. EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
- This Chapter is Available Only for the Professional EditionPRO
LIST OF TABLES
1. Key Findings In 2024
2. Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
3. Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
4. Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
5. Imports, In Physical Terms, By Country, 2012–2024
6. Imports, In Value Terms, By Country, 2012–2024
7. Import Prices, By Country, 2012–2024
8. Exports, In Physical Terms, By Country, 2012–2024
9. Exports, In Value Terms, By Country, 2012–2024
10. Export Prices, By Country, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
2. Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
3. Market Structure – Domestic Supply vs. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
4. Market Structure – Domestic Supply vs. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
5. Trade Balance, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
6. Trade Balance, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
7. Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
8. Market Volume Forecast to 2035
9. Market Value Forecast to 2035
10. Market Size and Growth, By Product
11. Average Per Capita Consumption, By Product
12. Exports and Growth, By Product
13. Export Prices and Growth, By Product
14. Production Volume and Growth
15. Exports and Growth
16. Export Prices and Growth
17. Market Size and Growth
18. Per Capita Consumption
19. Imports and Growth
20. Import Prices
21. Production, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
22. Production, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
23. Imports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
24. Imports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
25. Imports, In Physical Terms, By Country, 2024
26. Imports, In Physical Terms, By Country, 2012–2024
27. Imports, In Value Terms, By Country, 2012–2024
28. Import Prices, By Country, 2012–2024
29. Exports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
30. Exports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
31. Exports, In Physical Terms, By Country, 2024
32. Exports, In Physical Terms, By Country, 2012–2024
33. Exports, In Value Terms, By Country, 2012–2024
34. Export Prices, By Country, 2012–2024