As of 2023, the leading importers of steam turbines and other vapour turbines were Indonesia, the United States, and Malaysia, with Indonesia significantly outpacing its counterparts with an import value of $641.49 million USD. Over the last two years, Indonesia has shown robust growth, while the United States and Malaysia have also seen steady increases. Year-on-year growth for these countries has been driven by infrastructure development and energy sector expansion. The compound annual growth rate (CAGR) over the past five years reflects moderate increases, suggesting a stable demand-driven market.
Future trends to watch include:
- Increasing investment in renewable energy and modernization of power plants, potentially driving more demand.
- Technological advancements in turbine efficiency and environmental standards influencing purchasing decisions.
- Strategic partnerships and trade agreements facilitating smoother imports and expanding market reach.
Top countries in Top Importers of Steam Turbines and Other Vapour Turbines
| # | 10 Countries | Million US Dollars | Last Year | |
|---|---|---|---|---|
| 1 | 1 Indonesia | 641.49 | 2016 | |
| 2 | 2 United States | 384.53 | 2016 | |
| 3 | 3 Malaysia | 359.42 | 2016 | |
| 4 | 4 Pakistan | 310.86 | 2016 | |
| 5 | 5 South Africa | 294.18 | 2016 | |
| 6 | 6 Turkey | 276.61 | 2016 | |
| 7 | 7 China | 233.54 | 2016 | |
| 8 | 8 Germany | 199.89 | 2016 | |
| 9 | 9 United Arab Emirates | 183.32 | 2016 | |
| 10 | 10 South Korea | 160.86 | 2016 |
