From 2013 to 2023, the import values of steam turbines and other vapor turbines to Thailand have been highly volatile. After peaking in 2013 at 120.39 million USD, the imports experienced significant fluctuations, with a sharp decline in 2014, a strong rebound in 2015, and a mix of gains and losses thereafter. In 2023, the import value stood at 61.827 million USD.

From 2021 to 2023, the variations in import values showed a slight decline of 2.28% per year. The average CAGR over the last five years has been relatively stable at 0.8%.

Looking into the future, the forecasted data predict a gradual decline in import values with a CAGR of -2.06% over the next five years, bringing the import value down to 54.278 million USD by 2028.

Future trends to watch for:

Global economic conditions and their impact on industrial investments in Thailand
Technological advancements that could influence the demand for steam and vapor turbines
Changes in Thailand's energy policies and their effect on turbine imports