How Big is the Turbine Market | Trends & Emerging Developments 2025

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Code: MTA9504

Publication Date: Sep 2025

What is the size of the Turbine Market?

According to 6Wresearch, internal database and industry insights, the Global Turbine Market was valued at USD 19.6 Billion in 2024 and is expected to reach USD 28.5 Billion by 2031, growing at a compound annual growth rate of 7.70% during the forecast period (2025-2031).

Due to the growing demand for renewable energy and technological advancements in turbine design, increasing investments in energy infrastructure are all the main factors driving the market expansion.

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Key Growth Drivers of the Turbine Market

The growing demand for the production of hydroelectric and wind energy
Increasing expenditures on infrastructure for renewable energy
Improvements in the performance and efficiency of turbines
The number of offshore wind turbine installations is increasing.
Growing industrial applications for gas turbines
Technological advancements to extend the lifespan and durability of turbines

Turbine Market Trends

The Turbine Market is set to grow with key trends, including the increasing adoption of offshore wind turbines due to their higher energy generation potential. Furthermore, there is a growing emphasis on improving gas turbine efficiency for use in power generation and industry. The wind turbine manufacturers strive to satisfy the growing demand for renewable energy, the trend toward bigger, more potent wind turbines is quickening. The development of hybrid power systems, which integrate gas turbines with renewable energy sources to provide more economical and environmentally friendly options.

Emerging Developments in the Turbine Market

The Turbine Market is evolving with advancements in turbine technology, including the development of more efficient and larger-capacity turbines for both wind and gas power generation. Another new trend is the development of floating wind turbines for deep-sea installations, as well as hybrid turbines that integrate solar and wind power systems. Therefore, to increase lifespan and lower maintenance costs, businesses are also concentrating on creating more affordable and robust turbine materials. Operational efficiency is being improved by the growing trend of digitizing turbine operations with remote diagnostics and AI for predictive maintenance and modern monitoring systems.