Vapour Generating Boiler Parts Market

The article discusses the increasing demand for parts of vapour generating boilers and super-heater water boilers globally, with a forecasted growth in market volume and value by 2030. It covers consumption, production, imports, and exports trends, highlighting key countries such as Turkey, China, the United States, and Taiwan. The analysis includes CAGR rates, market size, per capita consumption, import/export prices, and growth trends over the past decade.

Market Forecast

Driven by increasing demand for parts of vapour generating boilers and super-heater water boilers worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +1.6% for the period from 2022 to 2030, which is projected to bring the market volume to 1.5M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.2% for the period from 2022 to 2030, which is projected to bring the market value to $12B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Parts Of Vapour Generating Boilers And Super-Heater Water Boilers

In 2022, approx. 1.4M tons of parts of vapour generating boilers and super-heater water boilers were consumed worldwide; picking up by 7% compared with the previous year's figure. The total consumption volume increased at an average annual rate of +2.4% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. Global consumption peaked at 1.4M tons in 2020; afterwards, it flattened through to 2022.

The global vapour generating boiler parts market value fell modestly to $9.4B in 2022, shrinking by -2.4% 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 showed a relatively flat trend pattern. Over the period under review, the global market attained the peak level at $10B in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Turkey (291K tons), China (241K tons) and the United States (99K tons), with a combined 46% share of global consumption. India, Indonesia, Bangladesh, Brazil, Malaysia, Italy, Japan, Mexico, Germany and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 28%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Taiwan (Chinese) (with a CAGR of +64.5%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest vapour generating boiler parts markets worldwide were the United States ($1.9B), Turkey ($985M) and China ($870M), together comprising 40% of the global market. India, Brazil, Indonesia, Mexico, Japan, Bangladesh, Malaysia, Germany, Taiwan (Chinese) and Italy lagged somewhat behind, together accounting for a further 20%.

Taiwan (Chinese), with a CAGR of +62.4%, 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.

In 2022, the highest levels of vapour generating boiler parts per capita consumption was registered in Turkey (3,400 kg per 1000 persons), followed by Malaysia (924 kg per 1000 persons), Italy (476 kg per 1000 persons) and Germany (324 kg per 1000 persons), while the world average per capita consumption of vapour generating boiler parts was estimated at 173 kg per 1000 persons.

From 2012 to 2022, the average annual growth rate of the vapour generating boiler parts per capita consumption in Turkey totaled +14.6%. In the other countries, the average annual rates were as follows: Malaysia (+17.4% per year) and Italy (+5.0% per year).

Production

World Production of Parts Of Vapour Generating Boilers And Super-Heater Water Boilers

In 2022, the amount of parts of vapour generating boilers and super-heater water boilers produced worldwide rose markedly to 1.4M tons, growing by 7.9% against the previous year. In general, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 22%. As a result, production reached the peak volume of 1.5M tons. From 2019 to 2022, global production growth remained at a lower figure.

In value terms, vapour generating boiler parts production rose modestly to $9.4B in 2022 estimated in export price. Overall, production, however, recorded a noticeable curtailment. The pace of growth appeared the most rapid in 2018 with an increase of 16%. Global production peaked at $11.6B in 2012; however, from 2013 to 2022, production failed to regain momentum.

Production By Country

The countries with the highest volumes of production in 2022 were China (429K tons), Turkey (292K tons) and India (96K tons), together comprising 57% of global production. The United States, South Korea, Brazil, Vietnam, Italy, Germany and Mexico lagged somewhat behind, together comprising a further 21%.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +103.5%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Parts Of Vapour Generating Boilers And Super-Heater Water Boilers

After two years of decline, supplies from abroad of parts of vapour generating boilers and super-heater water boilers increased by 0.2% to 282K tons in 2022. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 50%. As a result, imports reached the peak of 461K tons. From 2014 to 2022, the growth of global imports remained at a somewhat lower figure.

In value terms, vapour generating boiler parts imports stood at $1.7B in 2022. In general, imports, however, saw a noticeable setback. The growth pace was the most rapid in 2013 with an increase of 29% against the previous year. As a result, imports attained the peak of $3.4B. From 2014 to 2022, the growth of global imports remained at a somewhat lower figure.

Imports By Country

In 2022, Indonesia (55K tons), followed by Bangladesh (36K tons), Malaysia (23K tons), Taiwan (Chinese) (23K tons) and Japan (15K tons) were the major importers of parts of vapour generating boilers and super-heater water boilers, together generating 54% of total imports. The United States (13K tons), Vietnam (12K tons), India (8.5K tons), Hong Kong SAR (6.6K tons), the UK (6.4K tons), Thailand (5.3K tons) and Finland (4.7K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +27.6%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest vapour generating boiler parts importing markets worldwide were Indonesia ($238M), Bangladesh ($172M) and Japan ($103M), together accounting for 30% of global imports.

Among the main importing countries, Bangladesh, with a CAGR of +27.9%, recorded the highest rates of growth with regard to the value of imports, 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 generating boiler parts import price amounted to $6,048 per ton, stabilizing at the previous year. In general, the import price, however, showed a pronounced descent. The most prominent rate of growth was recorded in 2014 an increase of 8%. Over the period under review, average import prices hit record highs at $8,557 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Thailand ($8,264 per ton), while Taiwan (Chinese) ($2,647 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+2.9%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Parts Of Vapour Generating Boilers And Super-Heater Water Boilers

In 2022, approx. 364K tons of parts of vapour generating boilers and super-heater water boilers were exported worldwide; increasing by 4.9% compared with the previous year. In general, exports, however, continue to indicate a abrupt contraction. The pace of growth was the most pronounced in 2016 when exports increased by 7.7% against the previous year. The global exports peaked at 698K tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, vapour generating boiler parts exports stood at $2.1B in 2022. Over the period under review, exports, however, continue to indicate a deep setback. The growth pace was the most rapid in 2018 when exports increased by 10% against the previous year. Over the period under review, the global exports reached the peak figure at $4.5B in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports By Country

In 2022, China (190K tons) was the major exporter of parts of vapour generating boilers and super-heater water boilers, committing 52% of total exports. It was distantly followed by South Korea (50K tons) and Vietnam (41K tons), together achieving a 25% share of total exports. The following exporters - India (14K tons), Poland (9.3K tons), the United States (5.9K tons) and Japan (5.5K tons) - together made up 9.5% of total exports.

Exports from China decreased at an average annual rate of -6.0% from 2012 to 2022. At the same time, Vietnam (+30.0%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in the world, with a CAGR of +30.0% from 2012-2022. By contrast, Japan (-1.3%), India (-2.7%), the United States (-9.4%), Poland (-10.1%) and South Korea (-10.6%) illustrated a downward trend over the same period. Vietnam (+11 p.p.) and China (+1.5 p.p.) significantly strengthened its position in terms of the global exports, while South Korea saw its share reduced by -8.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($737M) remains the largest vapour generating boiler parts supplier worldwide, comprising 35% of global exports. The second position in the ranking was held by South Korea ($298M), with a 14% share of global exports. It was followed by the United States, with a 5.8% share.

In China, vapour generating boiler parts exports shrank by an average annual rate of -7.0% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (-11.8% per year) and the United States (-7.1% per year).

Export Prices By Country

The average vapour generating boiler parts export price stood at $5,712 per ton in 2022, remaining constant against the previous year. Over the period under review, the export price recorded a mild decrease. The pace of growth appeared the most rapid in 2014 an increase of 14%. As a result, the export price reached the peak level of $7,265 per ton. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

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 the United States ($20,275 per ton), while Vietnam ($2,847 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.6%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform