Turbine Motor Market Size, Growth, Global Trends, Forecast 2034

Turbine Motor Industry Prospective:

The global turbine motor market size was worth around USD 10.26 billion in 2024 and is predicted to grow to around USD 19.81 billion by 2034 with a compound annual growth rate (CAGR) of roughly 6.80% between 2025 and 2034.

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Turbine Motor Market: Overview

A turbine motor is an advanced propulsion system. Since its introduction to the modern world, it has managed to revolutionize major industries such as power generation and aviation. Turbine motors, also known as turbine generators, have proven to be more efficient in performance compared to pneumatic vane motors. The turbines are responsible for allowing the flow of fluid through the equipment, thus causing the rotor to spin. The spinning motion is used for the final application, such as powering a plant or a jet in the aerospace industry. The growing demand for a consistent supply of power across the globe is one of the major drivers for turbine motors at present.

In addition, the surge in the use of turbine motors to power modern jet engines will further accelerate the industry’s expansion rate. Market players are extensively investing in upgrading turbine motor technology. The surge in strategic partnerships and collaboration among market leaders is expected to generate growth opportunities in the coming years. The major drawback for the industry will emerge in the form of the high cost of research & development of turbine motors.

Key Insights:

• As per the analysis shared by our research analyst, the global turbine motor market is estimated to grow annually at a CAGR of around 6.80% over the forecast period (2025-2034)
• In terms of revenue, the global turbine motor market size was valued at around USD 10.26 billion in 2024 and is projected to reach USD 19.81 billion by 2034.
• The turbine motor market is projected to grow at a significant rate due to the increasing demand for more power worldwide.
• Based on the phase, the three-phase segment is growing at a high rate and will continue to dominate the global market as per industry projections.
• Based on the application, the wind turbine segment is anticipated to command the largest market share.
• Based on region, Europe is projected to dominate the global market during the forecast period.

Turbine Motor Market: Growth Drivers

Increasing demand for more power worldwide to deliver improved revenue in the industry

The global turbine motor market is expected to be led by increasing power demand across the globe. Growing world population, rapid urbanization, industrialization, and globalization are some of the major factors contributing to increased power demand. However, current means of power generation are insufficient to keep up with the exponentially rising power consumption levels worldwide.

In addition to this, the excessive use of traditionally used non-renewable sources of energy, such as petrol, diesel, and gas, is known to cause extreme environmental damage. The ongoing climate crisis reported across parts of the world is an example of the environmental impact of the use of unsustainable sources of energy. Modern structures, such as wind and water turbines, have proven highly effective in generating renewable energy on a large scale.

According to official estimates, more than 43% of Europe’s electricity consumption in 2023 was from renewable resources. In 2024, Romania witnessed the inauguration of the 72-turbine VIFOR wind farm as a part of Europe’s vision to decarbonize in the coming years. The facility can provide energy to 270,000 households in the region. Such projects are registering increased investments worldwide, helping drive the use of turbine motors.

Rising use of technology in jet engines will amplify the market expansion rate in the future

Turbine motors are extensively used for powering modern aircraft. The motors are generally used in military jets, commercial airlines, business jets, and helicopters. The increasing rate of air traffic across the globe, along with rising investments in military jets, will prove beneficial for the industry’s future, according to market analysis.

In April 2024, Godrej Enterprise, through its aerospace business, announced that it would emerge as a key partner to the Indian government in the production of 5th-generation fighter jet engines for military applications. In recent times, international collaborations, especially concerning the production and procurement of fighter jets, have increased. These partnerships will be critical to the global turbine motor market during the projection period.

Turbine Motor Market: Restraints

High cost of technology development and application will affect market revenue

The global turbine motor industry is expected to be hindered by the high costs associated with technology development and implementation. Turbine motors are among some of the most advanced equipment, along with other breakthrough technologies. Their structure is highly complex and requires advanced mathematics for development. These factors contribute to the expenses associated with turbine motor development, which can range between USD 1 million and USD 5 million for a business jet turbofan.

Turbine Motor Market: Opportunities

Emerging technological evolution in the industry to generate growth opportunities in the long run

The global turbine motor market is expected to generate growth opportunities due to the emerging technological evolution in the industry. In February 2025, reports emerged suggesting that scientists at the Taihang National Laboratory in China had successfully tested an unidentified turbine engine powered by next-generation artificial intelligence technology. China is working on developing 6th-generation fighter jets in its ambition to overpower the US market.

In January 2025, Enercon, a German wind turbine manufacturer, announced that it would start offering a new variant of its existing E-138 EP2 E4 turbines for sites facing strong winds. The new replacement is called  E-138 EP3. In April 2025, Green OÜ, one of Europe’s largest producers of small wind turbines, launched the new 15 kW Green-H15 turbine as energy demands in rural areas continue to surge. The turbine offers low noise impact, high efficiency, and excellent adaptability to various environmental conditions.

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Turbine Motor Market: Challenges

Limited availability of skilled resources and risk of intellectual property (IP) theft creates challenges

The global turbine motor industry is expected to face challenges due to limited access to a skilled workforce and other critical resources. The absence of a sufficient supply of industry experts can halt market expansion.

Additionally, industry leaders are vulnerable to IP theft, as turbine motors are primarily designed following extensive and resource-intensive research. These factors collectively will create challenges impacting market expansion during the projection period.

Turbine Motor Market: Report Scope

Turbine Motor Market: Segmentation

The global turbine motor market is segmented based on phase, application, and region.

Based on the phase, the global market segments are three phase and single phase. In 2024, the highest revenue was listed in the three-phase segment due to its extensive applications in large-scale structures such as wind turbines and critical industrial equipment. 3-phase turbine motors deliver exceptional power output and are preferred in applications requiring continuous functioning of the motors. The average cost of a 3-phase turbine motor offering 100–500 kW capacity is between USD 120,000 and USD 500,000.

Based on the application, the global market divisions are water turbine, wind turbine, steam turbine, and gas turbine. The highest revenue-generating segment in 2024 was wind turbine. Increasing power requirements worldwide are propelling segmental market expansion. The US was home to more than 70,000 wind turbines as per the U.S. Wind Turbine Database .

Turbine Motor Market: Regional Analysis

Europe to lead the market during the projection period, according to research

The global turbine motor market will be led by Europe during the forecast period. Major economies such as Germany, France, the US, and Spain will emerge as the leading revenue generators for the regional market. Europe has been one of the first regions to take corrective measures against the climate impact of the growing use of non-renewable energy sources. In recent times, European economies have invested heavily in developing and deploying technologies that can assist in harnessing renewable energy in the form of water turbines and wind turbines.

According to official reports, Germany is expected to witness the construction of Nordlicht 1 offshore wind facility by 2026. In March 2025, Vestas was provided an order for 68 V236-15.0 MW wind turbines as the project nears its commencement period.

North America is projected to deliver significant revenue in the long run. The US will lead the regional market. The growing demand for next-generation turbine powers for powering energy-generating facilities, as well as modern aircrafts, will promote regional market expansion. The US is among the world’s leading providers of next-generation fighter aircraft and helicopters. Escalating geopolitical tensions worldwide and an increased need for stronger national security technologies have helped the US collaborate with international clients for selling military aircrafts.

Turbine Motor Market: Competitive Analysis

The global turbine motor market is led by players like:

• MAN Energy Solutions
• General Electric (GE)
• Rolls-Royce
• Pratt & Whitney
• MTU Aero Engines
• Doosan Škoda Power
• Alstom (now part of GE)
• Siemens Energy
• Honeywell Aerospace
• Kawasaki Heavy Industries
• Mitsubishi Power
• Solar Turbines (a Caterpillar company)
• Safran
• Shanghai Electric
• Ansaldo Energia

The global turbine motor market is segmented as follows:

By Phase

• Three Phase
• Single Phase

By Application

• Water Turbine
• Wind Turbine
• Steam Turbine
• Gas Turbine

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa