Turbines: steam and other vapour turbines, (for other than marine propulsion), of an output exceeding 40MW

In 2024, turbines: steam and other vapour turbines, (for other than marine propulsion), of an output exceeding 40mw trade exhibited slight decline, with global flows reaching $797,636,754 and a three-year compound annual growth rate of +2.7% (five-year: -0.4%). The all-time peak of $2,193,429,495 was recorded in 2012; the current level is 64% below that high-water mark.

Over the 30-year observation window (1995–2024), 66% of years recorded positive growth, indicating a predominantly expanding market. Trend momentum is strengthening (+7.7% acceleration).

The World Trade Flows Characterization classifies turbines: steam and other vapour turbines, (for other than marine propulsion), of an output exceeding 40mw as "One-way trade" in the low price range price segment, providing additional context for market positioning and competitive dynamics.

The supply side is diversified (Herfindahl-Hirschman Index 0.109). The three largest exporters — Japan ($515.7M), Germany ($286.9M), and Russia ($165.9M) — collectively dominate supply flows. The leading exporter has grown at -5.2% over the last three years.

On the demand side, importer concentration is moderately concentrated (HHI 0.191). The three largest import markets are Türkiye ($230.3M), Indonesia ($221.5M), and Vietnam ($122.9M). The largest importing market sources from 17 different supplying countries.

Estimated substitution elasticity: -17.51. Buyers are highly price-sensitive and can switch between suppliers relatively easily.

The dominant trade corridor is China → Indonesia at $90.3M, representing 40.7% of the importer's total demand.

The volatility score for turbines: steam and other vapour turbines, (for other than marine propulsion), of an output exceeding 40mw is 17 out of 100, classified as low. Trade flows are relatively stable compared to other HS6 products, suggesting mature supply chains and predictable demand.

For market entrants, contracting demand signals caution before committing resources. The diversified supply landscape means many competitors but also multiple entry points and buyer relationships to target.

Data confidence is rated "High" based on reporting coverage and consistency across OECD member and partner countries.