In 2023, the import of steam turbines and other vapour turbines to China stood at a certain value. The forecast indicates a declining trend in imports from 2024 to 2028. The annual values in million US dollars are projected to decrease significantly, showing a year-on-year percentage decrease.
For the variations over the last two years:
- From 2024 to 2025: A decline in percentage
- From 2025 to 2026: Another decrease in percentage
- From 2026 to 2027: Continued reduction
- From 2027 to 2028: Further drop
The Compound Annual Growth Rate (CAGR) over the five-year period from 2024 to 2028 reveals a negative trend, indicating an average annual decline in imports.
Future trends to watch for include technological advancements that may reduce dependency on imported turbines, shifts in government energy policies, and changes in global economic conditions that could impact trade dynamics.
