The import of steam and vapour turbines (excluding marine propulsion) to Thailand has experienced significant fluctuations over the past decade, standing at $52.187 million in 2023. The year-on-year variation in 2022 was 4.83%, followed by a slight decline of -0.4% in 2023. This indicates a stabilization after some notable shifts, including a dramatic rise in 2015 and 2016, and a decline in 2017. Looking at compound annual growth rate (CAGR), the average yearly variation over the last five years has been 1.56%. Forecast data suggest a slight downward trend, with an average decline of -0.33% CAGR from 2023 to 2028.

Future Trends to Watch For:

Future economic policies affecting import tariffs and regulations.
Technological advancements in alternative power generation methods.
Global supply chain dynamics and their impact on import costs and availability.
Industrial demand for steam and vapour turbines in emerging sectors within Thailand.