PMRREP30901
5 Sep 2025 Industrial Automation
179 Pages
The global turbine motor market size is likely to be valued at US$2.7 Bn in 2025 and is expected to reach US$4.5 Bn by 2032, growing at a CAGR of 7.4% during the forecast period from 2025 to 2032.
The growth is driven by the rising adoption of renewable energy sources, especially wind and hydropower, supported by government initiatives and environmental policies worldwide.
Key Industry Highlights
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Global Market Attribute |
Key Insights |
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Turbine Motor Market Size (2025E) |
US$2.7 Bn |
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Market Value Forecast (2032F) |
US$4.5 Bn |
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Projected Growth (CAGR 2025 to 2032) |
7.4% |
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Historical Market Growth (CAGR 2019 to 2024) |
6.9% |
Increasing investments in clean energy infrastructure, coupled with technological advancements in turbine efficiency and digital monitoring, are boosting reliability and reducing operational costs. Expanding power demand in both developed and emerging economies further accelerates installations, positioning turbine motors as a key enabler of sustainable energy transitions and long-term global energy security.
The turbine motor market is witnessing robust growth, driven by the rising global demand for renewable energy. For instance, the Ministry of New & Renewable Energy in India reports that the country has achieved nearly 70-80% domestic manufacturing of wind turbine generators, with an annual production capacity of around 18,000 MW. This government-backed indigenisation strengthens local supply chains and creates significant opportunities for turbine motor manufacturers to support the expansion of renewable energy projects worldwide.
At the same time, technological advancements in turbine motors are accelerating market growth by improving efficiency, reliability, and scalability. Innovations in turbine design, digital monitoring, and energy optimization are making turbine motors more cost-effective and better suited for large-scale deployment. These developments ensure that turbine motors remain central to the clean energy transition, reinforcing their adoption across global renewable energy infrastructure.
The expansion of the turbine motor market faces a major restraint due to the high initial costs involved in manufacturing, installation, and maintenance. Advanced turbine motors require significant capital investment in precision engineering, composite materials, and digital control systems.
According to the International Renewable Energy Agency (IRENA), onshore wind power projects typically require upfront investments between USD 1.3 million and 2.2 million per MW. In contrast, offshore wind projects often exceed USD 3 million per MW. Such substantial expenditure poses a barrier, particularly in developing economies where funding mechanisms and subsidies are less accessible, thereby slowing large-scale adoption despite growing renewable energy goals.
Adding to the challenge are supply chain disruptions that directly impact turbine motor production and deployment. Global shortages of steel and rare-earth materials, coupled with rising transportation costs and logistics delays, have inflated project budgets. The International Energy Agency notes that these supply chain pressures have driven renewable project costs upward by 15-20% in recent years, limiting profitability and delaying installations.
The turbine motor market is poised to benefit significantly from the expansion of offshore wind projects, which are gaining momentum due to strong government support and increasing investments in clean energy. Offshore wind farms offer higher capacity factors compared to onshore, providing more consistent power output and creating strong demand for advanced turbine motors capable of operating in challenging marine environments.
The International Energy Agency projects that global offshore wind capacity could reach 500 GW by 2040, making it a central pillar of the renewable energy transition. This rapid expansion creates a lucrative opportunity for turbine motor manufacturers to develop specialized, high-performance solutions tailored for offshore applications.
At the same time, emerging markets in the Asia Pacific, Latin America, and Africa are accelerating their renewable energy initiatives, presenting vast untapped potential for turbine motor adoption. With countries such as Vietnam, Brazil, and South Africa rolling out ambitious wind power targets, demand for reliable turbine motors is set to surge. These regions offer cost-competitive labor, supportive policies, and rising energy needs, positioning them as growth hotspots for global manufacturers.
The turbine motor market in 2025 is led by wind turbine motors, which account for 35% of the total share. Their dominance is attributed to the accelerating global transition toward renewable energy and the rising adoption of large-scale wind power projects. According to the Global Wind Energy Council, wind turbine installations have increased by nearly 20% since 2020, highlighting the steady momentum in this segment as countries expand their clean energy capacity.
Meanwhile, hydraulic turbine motors are emerging as the fastest-expanding type, supported by growing investments in small and medium hydropower projects across Asia and Africa. In 2024, hydraulic turbine sales rose by 18%, reflecting their efficiency and adaptability in regions with abundant water resources and increasing electricity demand.
In 2025, large turbines above 100 MW dominate, holding a 45% share. These turbines play a pivotal role in utility-scale power generation, especially within the energy and utilities sector. Their demand is driven by the rising need for high-capacity solutions in both wind and hydroelectric projects, which are central to meeting national renewable energy targets and ensuring grid stability.
On the other hand, medium turbines ranging from 10 to 100 MW represent the fastest-expanding category. Their adaptability for industrial use and small-scale renewable projects makes them highly attractive in developing markets. Sales of medium turbines grew by 15% in 2024, with particularly strong uptake in the Asia Pacific region, where governments are actively supporting mid-scale renewable energy development.
In 2025, the energy and utilities sector dominates with a 50% share, supported by large-scale investments in renewable energy infrastructure. This segment remains the backbone of demand, driven by the expansion of wind and hydropower projects worldwide. In 2024, turbine installations for these projects increased by 20%, underscoring the vital role of energy and utilities in the adoption of advanced turbine motors.
The aerospace sector has emerged as the fastest-growing end-use segment, fueled by rising demand for gas turbine motors in both commercial and defense aviation. Industry data indicates that turbine motor demand in aerospace rose by 22% in 2024, reflecting the global rebound in air travel and continued investments in next-generation aircraft technologies.
In 2025, North America accounts for 33% of the turbine motor market, led by the United States and Canada. The U.S. drives most of the demand, supported by major investments in wind energy and aerospace, with the Department of Energy noting more than 45 GW of new wind capacity added since 2020.
Canada’s market strength comes from hydropower, where hydraulic turbine installations increased by 15% in 2024. The region’s growth is further encouraged by strict environmental regulations and supportive policies, including the U.S. Production Tax Credit, which has boosted renewable energy adoption by 18% since 2022. Together, these factors ensure North America remains a key hub for turbine motor demand across energy, utilities, and industrial applications.
In 2025, Europe holds a significant share of the turbine motor market, supported by long-established wind and hydropower infrastructure. Countries such as Germany, Denmark, and Spain continue to lead in wind energy deployment, while France and the Nordic nations strengthen demand through large-scale hydropower projects.
The European Union’s commitment to achieving carbon neutrality by 2050, combined with policies under the Green Deal and Renewable Energy Directive, has accelerated the adoption of advanced turbine technologies. In 2024, wind capacity additions across Europe increased by 14%, while hydropower upgrades also contributed to steady growth. These initiatives highlight Europe’s strong position as a mature yet expanding market for turbine motors in both renewable energy and industrial applications.
In 2025, the Asia Pacific region is the fastest-growing region in the turbine motor market, driven by rising energy demand and large-scale renewable projects. China and India lead the region with major wind and hydropower expansions, supported by strong government targets and manufacturing capacity.
According to regional energy agencies, wind installations in the Asia Pacific region grew by over 20% between 2020 and 2024, while hydropower projects in countries such as Vietnam and Indonesia have steadily boosted demand for hydraulic turbines. Rapid industrialisation and urbanisation further fuel the need for reliable power generation, making turbine motors critical to meeting future energy requirements. With sustained investments and supportive policies.
The global turbine motor market is moderately consolidated, with a few major companies accounting for a large share of global revenue. Competition is driven by innovation in high-capacity wind and hydropower turbines, efficiency improvements, and sustainable manufacturing practices.
In 2024, the top five participants collectively held nearly 65% market share, supported by strong R&D investments and regional expansion strategies. Smaller firms are increasingly targeting niche applications and emerging markets, intensifying competition while widening product offerings across the sector.
The turbine motor market is projected to reach US$2.7 Bn in 2025, driven by renewable energy demand and technological advancements.
Key drivers include the shift to renewable energy, government incentives, and rising energy demands from urbanization.
The turbine motor market will grow from US$2.7 Bn in 2025 to US$4.5 Bn by 2032, with a CAGR of 7.4%.
Opportunities include offshore wind expansion, emerging market growth, and modular turbine innovations.
Leading players include Andritz AG, General Electric, Mitsubishi Hitachi Power Systems, Siemens Gamesa, and Vestas Wind Systems.
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Report Attribute |
Details |
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Historical Data/Actuals |
2019 - 2024 |
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Forecast Period |
2025 - 2032 |
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Market Analysis |
Value: US$ Bn, Volume: As Applicable |
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Geographical Coverage |
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Segmental Coverage |
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Competitive Analysis |
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Report Highlights |
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Customization and Pricing |
Available upon request |
By Motor Type
By Capacity
By End-use
By Region
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