Turbines: steam and other vapour turbines, (for other than marine propulsion), of an output not exceeding 40MW

In 2024, turbines: steam and other vapour turbines, (for other than marine propulsion), of an output not exceeding 40mw trade exhibited strong growth, with global flows reaching $451,602,878 and a three-year compound annual growth rate of -7.5% (five-year: -2.8%). The all-time peak of $1,095,017,710 was recorded in 2011; the current level is 59% below that high-water mark.

Over the 30-year observation window (1995–2024), 45% of years recorded positive growth, indicating significant cyclicality with frequent contractions. Trend momentum is decelerating (-3.2% acceleration).

The World Trade Flows Characterization classifies turbines: steam and other vapour turbines, (for other than marine propulsion), of an output not exceeding 40mw as "One-way trade" in the medium price range price segment, providing additional context for market positioning and competitive dynamics.

The supply side is diversified (Herfindahl-Hirschman Index 0.123). The three largest exporters — Germany ($138.7M), Japan ($128.4M), and Czechia ($128.4M) — collectively dominate supply flows. The leading exporter has grown at -6.6% over the last three years.

On the demand side, importer concentration is diversified (HHI 0.031). The three largest import markets are Indonesia ($34.3M), China ($32.6M), and Malaysia ($28.4M). The largest importing market sources from 8 different supplying countries.

Estimated substitution elasticity: -16.65. Buyers are highly price-sensitive and can switch between suppliers relatively easily.

The dominant trade corridor is Russia → China at $24.6M, representing 73.8% of the importer's total demand.

The volatility score for turbines: steam and other vapour turbines, (for other than marine propulsion), of an output not exceeding 40mw is 7 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, strong demand tailwinds create a favourable entry environment. 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.