Mexico Gas Turbine Market Size & Outlook, 2025-2033
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Mexico gas turbine market highlights
- The Mexico gas turbine market generated a revenue of USD 182.0 million in 2024 and is expected to reach USD 211.5 million by 2033.
- The Mexico market is expected to grow at a CAGR of 1.9% from 2025 to 2033.
- In terms of segment, combined cycle was the largest revenue generating technology in 2024.
- Combined Cycle is the most lucrative technology segment registering the fastest growth during the forecast period.
Gas turbine market data book summary
| Market revenue in 2024 | USD 182.0 million |
| Market revenue in 2033 | USD 211.5 million |
| Growth rate | 1.9% (CAGR from 2025 to 2033) |
| Largest segment | Combined cycle |
| Fastest growing segment | Combined Cycle |
| Historical data | 2021 - 2023 |
| Base year | 2024 |
| Forecast period | 2025 - 2033 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Open Cycle, Combined Cycle |
| Key market players worldwide | Ansaldo Energia, GE Aerospace, Kawasaki Heavy Industries Ltd, ManpowerGroup Inc, Mitsubishi Corp, Opera Ltd ADR, Siemens AG, Caterpillar Inc |
Other key industry trends
- In terms of revenue, Mexico accounted for 1.7% of the global gas turbine market in 2024.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2033.
- In North America, U.S. gas turbine market is projected to lead the regional market in terms of revenue in 2033.
- Canada is the fastest growing regional market in North America and is projected to reach USD 752.7 million by 2033.
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Gas Turbine Market Scope
Gas Turbine Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| ManpowerGroup Inc | View profile | 27900 | 100 Manpower Place, Milwaukee, WI, United States, 53212 | https://www.manpowergroup.com |
| Opera Ltd ADR | View profile | 657 | Vitaminveien 4, Oslo, Norway, 0485 | https://www.opera.com |
| Ansaldo Energia | View profile | 1001-5000 | Podere Liguria, Emilia-Romagna, Italy, Europe | https://www.ansaldoenergia.com/ |
| Kawasaki Heavy Industries Ltd | View profile | 38254 | Kobe Crystal Tower, 1-3, Higashikawasaki-cho 1-chome, Chuo-ku, Kobe, Japan, 650-8680 | http://www.khi.co.jp |
| Mitsubishi Corp | View profile | 105267 | Mitsubishi Shoji Building 3-1, Marunouchi 2-chome, Chiyoda-ku, Tokyo, Japan, 100-8086 | https://www.mitsubishicorp.com |
| GE Aerospace | View profile | 125000 | One Financial Center, Suite 3700, Boston, MA, United States, 02111 | https://www.geaerospace.com |
| Siemens AG | View profile | 321000 | Werner-von-Siemens-Strabe 1, Munich, BY, Germany, 80333 | https://www.siemens.com |
| Caterpillar Inc | View profile | 121173 | 5205 N. O'Connor Boulevard, Suite 100, Irving, TX, United States, 75039 | https://www.caterpillar.com |
Mexico gas turbine market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to gas turbine market will help companies and investors design strategic landscapes.
Combined cycle was the largest segment with a revenue share of 92.53% in 2024. Horizon Databook has segmented the Mexico gas turbine market based on open cycle, combined cycle covering the revenue growth of each sub-segment from 2021 to 2033.
The gas turbine market in Mexico is expected to grow due to the energy reforms that plan to diversify the country’s power sector. These reforms focus on increasing competition, attracting private investments, and modernizing the energy infrastructure.
Mexico has abundant natural gas reserves, which are increasingly being utilized as a primary source of power generation. Natural gas-fired power plants currently account for around two-thirds of Mexico's total electricity generation capacity.
This reliance on natural gas is driving the demand for gas turbines, as they are the most efficient and reliable way to generate power. The abundance of natural g reserves and favorable government regulations are expected to boost the market over the forecast period.
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Our clientele includes a mix of gas turbine market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the Mexico gas turbine market , including forecasts for subscribers. This country databook contains high-level insights into Mexico gas turbine market from 2021 to 2033, including revenue numbers, major trends, and company profiles.
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Mexico gas turbine market size, by technology, 2021-2033 (US$M)
Mexico Gas Turbine Market Outlook Share, 2024 & 2033 (US$M)
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