In 2023, China led the market as the top exporter of steam and vapour generating boilers with exports valued at $1.35 billion, followed by South Korea at $0.83 billion. Italy and India were mid-range exporters with close competitive values around $0.29 billion. The United States, Japan, and Germany also showed significant contributions with values from $0.21 to $0.27 billion. Spain, Denmark, and Finland followed at lower levels of export value. The year-on-year percentage variation over the last two years indicates steady growth for most countries, especially noticeable in Asian markets. The compound annual growth rate (CAGR) over the past five years highlights China and South Korea's strong export performance.
Future trends to watch include:
- Continued dominance of China in global boiler exports, driven by advanced manufacturing capabilities and cost competitiveness.
- Emerging market potential in high-efficiency and eco-friendly boilers due to stricter environmental regulations worldwide.
- Technological advancements and increased investment in R&D, particularly from South Korea and Japan, enhancing their market positions.
Top countries in Top Exporters of Steam and Vapour Generating Boiler
| # | 10 Countries | Million US Dollars | Last Year | |
|---|---|---|---|---|
| 1 | 1 China | 1,350 | 2016 | |
| 2 | 2 South Korea | 830.61 | 2016 | |
| 3 | 3 Italy | 298.47 | 2016 | |
| 4 | 4 India | 292.55 | 2016 | |
| 5 | 5 United States | 271.08 | 2016 | |
| 6 | 6 Japan | 267.37 | 2016 | |
| 7 | 7 Germany | 214.85 | 2016 | |
| 8 | 8 Spain | 152.83 | 2016 | |
| 9 | 9 Denmark | 136.19 | 2016 | |
| 10 | 10 Finland | 121.6 | 2016 |
