The import value of steam turbines and other vapor turbines to the Philippines shows a continuous upward trend for the forecasted period from 2024 to 2028. In 2023, the import value stood at 117 million USD. Year-on-year variations show a positive growth trajectory with increments of 2.7% from 2024 to 2025, 2.5% from 2025 to 2026, 2.4% from 2026 to 2027, and 2.3% from 2027 to 2028. The Compound Annual Growth Rate (CAGR) from 2023 to 2028 is approximately 2.48% indicating a steady increase in import value.

Future trends to watch for include:

Technological advancements in steam and vapor turbines that may influence demand and import rates.
Government policies on energy infrastructure and renewable sources which could alter import dynamics.
Market developments and investments in the Philippine energy sector.
Global economic conditions impacting trade and market stability.