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World - Condensers For Steam Or Other Vapour Power Units - Market Analysis, Forecast, Size, Trends And Insights
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The article provides an in-depth analysis of the global condenser market for steam or other vapour power units, highlighting consumption trends, market performance, production, imports, and exports. The market is expected to see growth with an anticipated increase in market volume and value by 2030. Key insights include a decline in consumption in 2022 after a four-year rising trend, with varying growth rates in different countries. China dominates as both the largest importer and exporter, while Vietnam leads in consumption volume. The article also details production trends and import/export prices over the years, providing a comprehensive overview of the global condenser market.
Market Forecast
Driven by increasing demand for condensers for steam or other vapour power units worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +5.0% for the period from 2022 to 2030, which is projected to bring the market volume to 119K tons by the end of 2030.
In value terms, the market is forecast to increase with an anticipated CAGR of +5.3% for the period from 2022 to 2030, which is projected to bring the market value to $2.8B (in nominal prices) by the end of 2030.
Consumption
World Consumption of Condensers For Steam Or Other Vapour Power Units
In 2022, consumption of condensers for steam or other vapour power units decreased by -14.6% to 80K tons for the first time since 2017, thus ending a four-year rising trend. Over the period under review, consumption, however, continues to indicate a slight increase. Global consumption peaked at 94K tons in 2021, and then fell in the following year.
The global vapour power unit market size soared to $1.8B in 2022, increasing by 76% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a pronounced decline. Over the period under review, the global market reached the peak level at $4.3B in 2016; however, from 2017 to 2022, consumption failed to regain momentum.
Consumption By Country
The country with the largest volume of vapour power unit consumption was Vietnam (21K tons), accounting for 26% of total volume. Moreover, vapour power unit consumption in Vietnam exceeded the figures recorded by the second-largest consumer, China (9.9K tons), twofold. The third position in this ranking was taken by Indonesia (8.9K tons), with an 11% share.
From 2012 to 2022, the average annual rate of growth in terms of volume in Vietnam was relatively modest. In the other countries, the average annual rates were as follows: China (-6.1% per year) and Indonesia (+10.9% per year).
In value terms, Vietnam ($159M), Indonesia ($90M) and China ($53M) appeared to be the countries with the highest levels of market value in 2022, together accounting for 16% of the global market. South Korea, Italy, the United States, Belgium, Japan, Nigeria, Mexico and India lagged somewhat behind, together comprising a further 12%.
Japan, with a CAGR of +21.3%, recorded the highest growth rate of market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.
The countries with the highest levels of vapour power unit per capita consumption in 2022 were Vietnam (211 kg per million persons), Belgium (141 kg per million persons) and South Korea (91 kg per million persons).
From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Japan (with a CAGR of +24.9%), while consumption for the other global leaders experienced more modest paces of growth.
Production
World Production of Condensers For Steam Or Other Vapour Power Units
In 2022, global production of condensers for steam or other vapour power units fell to 76K tons, approximately reflecting 2021 figures. The total output volume increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 9.1%. Over the period under review, global production reached the maximum volume at 78K tons in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.
In value terms, vapour power unit production contracted to $584M in 2022 estimated in export price. Over the period under review, production saw a slight slump. The pace of growth appeared the most rapid in 2014 with an increase of 26%. As a result, production attained the peak level of $715M. From 2015 to 2022, global production growth remained at a lower figure.
Production By Country
The countries with the highest volumes of production in 2022 were China (25K tons), Vietnam (20K tons) and South Korea (6.5K tons), together comprising 68% of global production. Italy, Indonesia, India and Japan lagged somewhat behind, together comprising a further 19%.
From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Italy (with a CAGR of +10.0%), while production for the other global leaders experienced more modest paces of growth.
Imports
World Imports of Condensers For Steam Or Other Vapour Power Units
In 2022, global vapour power unit imports dropped notably to 26K tons, declining by -32.4% on 2021 figures. In general, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 92%. As a result, imports attained the peak of 49K tons. From 2019 to 2022, the growth of global imports remained at a somewhat lower figure.
In value terms, vapour power unit imports declined dramatically to $223M in 2022. Over the period under review, imports recorded a pronounced decrease. The growth pace was the most rapid in 2014 with an increase of 77% against the previous year. As a result, imports attained the peak of $567M. From 2015 to 2022, the growth of global imports failed to regain momentum.
Imports By Country
In 2022, Indonesia (5.2K tons) and Nigeria (4.5K tons) were the major importers of condensers for steam or other vapour power unitsacross the globe, together creating 37% of total imports. The United States (2.2K tons) took an 8.2% share (based on physical terms) of total imports, which put it in second place, followed by Mexico (6.4%) and Taiwan (Chinese) (4.9%). Japan (961 tons), Kenya (951 tons), Saudi Arabia (768 tons), the United Arab Emirates (734 tons), Vietnam (726 tons), Thailand (682 tons), Malaysia (638 tons) and Belgium (571 tons) held a relatively small share of total imports.
From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Malaysia (with a CAGR of +49.0%), while imports for the other global leaders experienced more modest paces of growth.
In value terms, Indonesia ($49M), the United States ($28M) and Taiwan (Chinese) ($14M) appeared to be the countries with the highest levels of imports in 2022, with a combined 41% share of global imports. Thailand, Vietnam, Japan, Saudi Arabia, Nigeria, Kenya, Malaysia, Mexico, the United Arab Emirates and Belgium lagged somewhat behind, together accounting for a further 33%.
Malaysia, with a CAGR of +38.2%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.
Import Prices By Country
In 2022, the average vapour power unit import price amounted to $8,440 per ton, increasing by 14% against the previous year. Over the period under review, the import price, however, continues to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2019 an increase of 55% against the previous year. Global import price peaked at $14,166 per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Thailand ($18,066 per ton), while Nigeria ($1,712 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+1.7%), while the other global leaders experienced a decline in the import price figures.
Exports
World Exports of Condensers For Steam Or Other Vapour Power Units
In 2022, approx. 23K tons of condensers for steam or other vapour power units were exported worldwide; flattening at 2021 figures. In general, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 95% against the previous year. Over the period under review, the global exports attained the peak figure at 42K tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.
In value terms, vapour power unit exports totaled $150M in 2022. Over the period under review, exports, however, continue to indicate a pronounced shrinkage. The most prominent rate of growth was recorded in 2014 when exports increased by 52%. As a result, the exports attained the peak of $503M. From 2015 to 2022, the growth of the global exports failed to regain momentum.
Exports By Country
China dominates exports structure, finishing at 16K tons, which was approx. 69% of total exports in 2022. It was distantly followed by South Korea (2K tons) and India (1.4K tons), together making up a 15% share of total exports. The United States (755 tons), Canada (712 tons), Italy (451 tons) and Japan (449 tons) held a relatively small share of total exports.
China was also the fastest-growing in terms of the condensers for steam or other vapour power units exports, with a CAGR of +10.3% from 2012 to 2022. At the same time, Canada (+9.4%) displayed positive paces of growth. India experienced a relatively flat trend pattern. By contrast, South Korea (-1.9%), Italy (-4.3%), the United States (-11.6%) and Japan (-14.7%) illustrated a downward trend over the same period. While the share of China (+40 p.p.) and Canada (+1.7 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of South Korea (-2.8 p.p.), Japan (-8.6 p.p.) and the United States (-9.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, China ($80M) remains the largest vapour power unit supplier worldwide, comprising 53% of global exports. The second position in the ranking was held by South Korea ($11M), with a 7.7% share of global exports. It was followed by India, with a 7.2% share.
In China, vapour power unit exports increased at an average annual rate of +8.4% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (-5.5% per year) and India (-0.9% per year).
Export Prices By Country
The average vapour power unit export price stood at $6,608 per ton in 2022, stabilizing at the previous year. Overall, the export price continues to indicate a deep reduction. The pace of growth was the most pronounced in 2014 when the average export price increased by 46%. As a result, the export price attained the peak level of $12,035 per ton. From 2015 to 2022, the average export prices failed to regain momentum.
There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($16,607 per ton), while China ($5,137 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (-1.0%), while the other global leaders experienced a decline in the export price figures.
This report provides an in-depth analysis of the global vapour power unit market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 25301250 - Condensers for steam or other vapour power units
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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