Mexico Gas Turbine Market Size, Trends, Growth and Forecast 2025-2033

IMARC Group has recently released a new research study titled "Mexico Gas Turbine Market Size, Share, Trends and Forecast by Technology, Design Type, Rated Capacity, End-User, and Region, 2025-2033" which offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.

Market Overview

The Mexico gas turbine market reached a size of USD 312.0 Million in 2024 and is projected to rise to USD 466.3 Million by 2033, exhibiting a CAGR of 4.1% during the forecast period of 2025-2033. Growth is driven by increasing electricity demand, cleaner energy regulations, and a shift from coal to gas-fired power generation. Foreign investments, grid development, and the need for flexible backup to integrate renewables also contribute significantly.

Study Assumption Years

• Base Year: 2024
• Historical Year/Period: 2019-2024
• Forecast Year/Period: 2025-2033

Mexico Gas Turbine Market Key Takeaways

• Current Market Size: USD 312.0 Million in 2024
• CAGR: 4.1% during 2025-2033
• Forecast Period: 2025-2033
• The market is witnessing a growing preference for combined cycle gas turbine (CCGT) technology due to its efficiency and environmental benefits.
• The Mexican government plans 22.7 GW of new capacity, including five CCGT projects backed by USD 23 Billion investment.
• Expansion of renewable-integrated gas turbine solutions is supporting grid stability amid increased solar and wind power capacity.
• In 2024, fossil fuels supplied 75% of Mexico's electricity; solar and wind together provided only 13%, indicating significant room for cleaner alternatives.
• The CCGT segment is expected to dominate power generation due to its low emissions and cost-effectiveness.

Sample Request Link: https://www.imarcgroup.com/mexico-gas-turbine-market/requestsample

Mexico Gas Turbine Market Growth Factors

The Mexico gas turbine market is propelled primarily by rising electricity demand and government policies promoting cleaner energy. The Mexican government's strategy includes replacing coal and oil-based power generation with gas-fired plants, which comply with stricter environmental regulations. The recent commissioning of the 927 MW Salamanca CCGT plant exemplifies this trend, aiming to reduce emissions by 3.5 million tons of CO2 annually. The forecast plan to add 22.7 GW of new capacity, driven by five CCGT projects and a USD 23 Billion public infrastructure investment, underscores the pivotal role of gas turbines in Mexico's energy transformation.

Foreign investments from U.S. and European entities are accelerating the adoption of advanced gas turbine technologies, particularly combined cycle systems known for high efficiency and lower emissions. These investments not only support infrastructure growth but also align with Mexico's national grid strategy for 2025-2030. The transition to natural gas-based power plants coupled with a focus on flexible and cost-effective electricity solutions benefits both industrial and utility-scale applications, thus driving substantial market growth.

Additionally, the integration of gas turbines with renewable energy sources such as solar and wind is emerging as an important market trend. Gas turbines serve as flexible backup power, providing rapid response to fluctuations in renewable generation, especially through aeroderivative models. This hybrid approach bolsters grid stability and reliability while reducing carbon footprints. With Mexico's goal to increase renewable electricity target to 33% by 2030 from just 25% low-carbon sources in 2024, gas turbines become essential in facilitating a balanced and sustainable power grid.

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Mexico Gas Turbine Market Segmentation

Technology Insights:

• Combined Cycle Gas Turbine: This technology integrates gas and steam turbines to maximize energy output with high efficiency and lower emissions.
• Open Cycle Gas Turbine

Design Type Insights:

• Heavy Duty (Frame) Type
• Aeroderivative Type: Recognized for rapid response, particularly well-suited for renewable-integrated solutions.

Rated Capacity Insights:

• Above 300 MW
• 120-300 MW
• 40-120 MW
• Less Than 40 MW

Each capacity segment is analyzed for market trends and supply dynamics.

End-User Insights:

• Power Generation: Largest segment where gas turbines are primarily used.
• Mobility
• Oil and Gas
• Others

Regional Insights:

• Northern Mexico
• Central Mexico
• Southern Mexico
• Others

Comprehensive regional analysis provided to understand geographic market distribution.

Regional Insights

Northern Mexico is identified as a dominant region along with Central and Southern Mexico, supported by various key projects and government initiatives.

Speak to an Analyst: https://www.imarcgroup.com/request?type=report&id=33503&flag=C

Recent Developments & News

On January 03, 2024, GE Vernova and Iberdrola Mexico successfully commissioned the 766 MW Topolobampo III plant in Sinaloa, featuring Mexico's first two 7HA.01 gas turbines fueled by locally available natural gas. This project enhances grid stability, enables future hydrogen use, and supports Mexico's renewable energy capacity expansion goal from 15 GW to 40 GW by 2030.

Key Players

• GE Vernova
• Iberdrola Mexico

Customization Note

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

About Us

IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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This release was published on openPR.