From 2013 to 2023, the import value of vapour generating boilers, including hybrid boilers, to Indonesia has shown significant fluctuation. Starting with a high of USD 52.472 million in 2013, the value dropped sharply by 52.54% in 2014 and continued to experience variability. The year 2017 saw the lowest import value at USD 10.179 million, indicating a 61.42% decrease from the previous year. However, the market somewhat stabilized with minor fluctuations between 2018 and 2023, peaking again to reach USD 22.292 million in 2023.
The year-on-year variation in 2022 was 5.59%, while in 2023, it was relatively stable at 0.3%. The Compound Annual Growth Rate (CAGR) over the last five years leading up to 2023 was at -2.39%. Forecast data from 2024 onwards project a modest average annual growth rate of 0.26% CAGR, indicating a relatively stable import value around USD 22 million through 2028.
Future trends to watch for include the potential impact of advancements in energy efficiency standards, technological innovations, and Indonesia’s evolving energy policy, which could influence the demand for vapour generating boilers, including hybrids. Moreover, global supply chain dynamics and policy changes affecting tariffs and trade can also play pivotal roles in shaping import trends.
