From 2013 to 2023, Indonesia's import of steam and vapour generating boilers has shown notable fluctuation. The import value peaked in 2018 at $852.04 million and then exhibited a declining trend up to 2020. From 2021 onwards, the import value started an upward progression, reaching $901.01 million in 2023.
The most significant year-on-year increase occurred in 2018 with a tremendous 187.59% rise. Conversely, 2016 saw the sharpest drop with a decrease of 37.09%. The overall compound annual growth rate (CAGR) over the last five years (2019-2023) stood at 1.12%. Looking forward, a forecasted CAGR of 3.37% is expected for the next five years (2024-2028), indicating a steady increase in import value.
Future trends to watch for include potential policy changes impacting import regulations, advancements in domestic boiler production capabilities, and shifts in industrial energy demands that may influence the overall import volume and value.
