But the Russian peasants weren't really given much in the way of land by the Liberation of the Serfs - that was the key mistake that led to the Revolution. In the case of Ottoman peasants, every family had enough land to support itself and more, but in addition to this, you have to have transportation infrastructure to bring the product to market, which was a difficult proposition, except in Mesopotamia, Western Anatolia, Bulgaria, and Egypt. Without that, a peasant will only produce what he needs, because the rest would be wasted effort.
In OTL, Bulgaria was actually the basis for industrialization, and prior to the Russian invasion had reached a "proto-industrial" state (which it lost when Bulgaria became independent).
You had prosperous farmers with access to global markets, and urban centers that were a market for the produce of the countryside. That led to the development of textile works and food-processing plants. Bulgarian independence led to the shriveling of urban centers and waste of money on military and glory projects, a loss of access to the larger Ottoman market, and Bulgaria economically declined thereafter.
Egypt would have been a critical element in a stronger Ottoman system, because it had a positive balance of payments and would have been a source of capital accumulation, but I'd have to wonder if there would be much industrialization. European policy was to discourage this, and landowners tended to invest in more land, not industrial enterprises. But as part of a larger Ottoman system, maybe that would change.
Another important province would have been Bosnia, which had massive iron, coal, and timber resources.
I agree with you - Russian peasants had too little land to drive an industrial revolution. Which part of the Ottoman Empire that becomes the tool-making part for the expanding agriculture depends on resources and investments of course. It can be eastern Anatolia with its coal resources, Bulgaria or Bosnia, or all of them. What the peasant produces will also depend on wether he can make a dense cash crop (ie something easy to transport, store and keep). Historically, this has been dried meat and fish, salt, salted butter, vegetable oil and wool cloth. There were also a tendency to grow cash crops if a steady supply of food could be secured. Dutch farmers switched to rape for oil to a large extent when the Dutch merchant navy could get a secure supply of grain from Livonia and Russia during the 17th and 18th centuries.
How was land ownership distributed in Egypt before the British takeover? I read Muhammad Ali nationalised almost all private land in 1808 - was this in any way reversed? If not, this would be a considerable asset to the Ottoman government, should they be able to take over Egypt. Cotton revenue could finance building of infrastructure elsewhere.
So, how would industrialisation work in an Ottoman Empire that does not lose against Russia 1877 and secures Egypt?
Well, they will be behind France, Germany and Britain, and will probably be hard-pressed to give concessions for those countries. The Ottoman Empire relies on coastal shipping as its main infrastructure for some time.
Cotton from state lands in Egypt will provide income for some investments. Good relations with one or seveal of the industrialised powers will allow foreign investments.
State investment and foreign investment will initially be around infrastructure and security. This probably means a railroad network intended to allow troops to be quickly moved between various potential fronts in the Empire. Salonika, Istanbul, Sofia and Sarajevo are probably connected in Europe first. The development in Asia will be slower - the perceived threat is not as big there.
Foreign and state investment will also be in military technology - the Ottomans will be able to afford a navy and will need it to protect their coastal shipping, especially in the Black Sea. Foreign companies will get lucrative contracts for vessels, artillery etc that includes them setting up factories and shipyards in the Ottoman Empire (this was standard practice at the time).
Civilian enterprise will probably be based around cotton in Egypt - most cotton will be exported, but some will be used locally. Wood industry might arise in Bosnia, especially as the railroad built for military movements allow access to the markets in the rest of the Empire. Smithing/steel industry at a small scale will probably arise in eastern Anatolia, Bosnia and Bulgaria, to supply farmers etc. Small industry to supply the the state and foreign built industry and infrastructure will also arise.
Small civilian infrastructure investment will arise - coal miners will build small stretches of railroad - in some cases narrow guage - to transport their increasingly popular goods (coal for the navy, for the locomotives, for the coastal shipping steamers, for the steam engines in the industry, for the growing cities) more easily to the closest port or rail line. Spokes will connect to Sarajevo and Sofia, the Black Sea ports will see rail lines running south to coal deposits.
Then the state will get in debt for the grand projects (they usually did around 1880-1900). Probably a railroad connecting the Black Sea ports with Izmit and perhaps further to Bursa and Izmir. Then another to connect a good Eufrat-Tigris riverine port with Antioch or another port on the Med - since the British will own most of the Suez canal, the Ottomans will probably want some competition and be able to move goods internally without relying on a foreign-owned infrastructure.
Perhaps a railroad south from Izmir, along the Med coast, to Antioch and further down through the Levant, over the Sinai and to Cario (and one through the Hejdaz to Mecka and Medina) will be built - but it will be expensive.
By 1914, the Ottoman Empire is not fully industrialised, but probably somewhere on par with Russia and the Austrians on industrial power.
There's a ship-building and arms industry in Istanbul and Izmir. Coal and steel along with some machine tools (high-quality and advanced machine tools are probably still imported) and agricultural tools in eastern Anatolia (along the Black Sea coast), Bulgaria and Bosnia. Clothes and cloth are being produced in northern Egypt and southern Anatolia (cotton and wool, respectively). Oil is being produced in Mesopotamia and a small chemical, refining and oil drilling and pumping industry exists around this - probably in Bagdad and Istanbul. Railroads are still being built, standardised, nationalised and connected to existing hubs. Food refining industry exisits in Salonika (mainly fish) and Alexandria.
The Ottoman Empire's economy is probably on par with the Austrian and growing at about the same rate - there are still parts of the Empire that are rural and very under-developed - Albania, central Anatolia, Macedonia, Sudan, the Levant and Arabia. The Ottomans still have problems producing some high-quality and prestige goods, such as advanced machine tools, petrol engines, heavy ship hulls and guns (while coastal defence ships are within Ottoman capabilities, dreadnoughts are not). The chemical industry is still very basic, but the refining industry is advancing quickly, helped by easy access to cheap oil. Wood industry is decent, supplying most of internal needs. Agriculture is if not advanced, at least adequate and the Empire is able to both feed its citizens and reap a healthy profit from cash crops (still mostly cotton). Ottoman canned beef and mutton is considered a delicacy among preserved foods with its high fat content and excellent canning. Ottoman canned fruits are also popular, especially in places where fresh fruit is unavailable or hard to grow. Second and third class passengers of the Atlantic liners usually have Ottoman preserved pears and peaches with whipped cream for dessert.
The Ottoman arms industry supply small arms and light artillery to client and buffer states and tribes - among them the Tuareg.
Ottoman infrastructure, while vurnurable, is in Europe good enough to keep the borders manned and supplied at almost the same rate as the Russians in Moldavia and the Austrians in Croatia and Hungary. In Asia and Africa, the Ottomans enjoy total superiority in infrastructure. While Cyrenaica and Tripolitania are not connected, the French in Tunis do not enjoy railroad connections to their border either. The Ottoman railroad network in Anatolia is better than its Russian counterpart in the Caucasus - however, the Ottomans worry about a potential Russian landing to cut the railroad along the coast and are building a cross-Anatolian railroad over Ankara at a huge cost.
The Persians have nothing close to the railroad network connecting to the various riverine ports of Mesopotamia, and the railroad ferries sailing up and down the river allow the Ottomans to effectively control Mesopotamia. Work has started to connect the Izmir-Antioch-Euphrates line to Bagdad and Bagdad to the Euphrates-Kuwait line, but the trans-arabic line will probably never be built, as sailing around the Arabian Peninsula is easy.