Key Market Indicators
South Africa witnessed a significant decline in gas turbine imports in 2023, with figures dropping to approximately $59.8 million. This marks an 18.8% decrease from the $73.6 million recorded in 2022. The trend has been downward since 2005, with the nation's demand for gas turbines falling by an average of 14.1% year over year. On the export front, South Africa's performance is also projected to decline. Gas turbine exports are expected to decrease to around $19.1 million by 2028, down from $30.3 million in 2023. This represents an average annual decline of 7.3%. Despite this, since 2005, South Africa's gas turbine supply has seen a modest annual increase of 2.1%. In 2023, South Africa ranked 44th in the global gas turbine export market, a position overtaken by Serbia with exports valued at $30.3 million. Leading the rankings were France, Singapore, and Germany, holding the second, third, and fourth positions respectively.
