Global Gas Turbine Orders Hit Record High as Power Demand Surges

3-line summary

• New gas turbine orders hit a record high in the second quarter at 38 GW, up 29% from the first quarter and 71% year-over-year, according to JPMorgan data cited by Bloomberg.
• Siemens Energy led with 12.5 GW of new orders, followed by General Electric at 11.3 GW and Mitsubishi Power at 5.3 GW; the US accounted for half of the new orders amid surging data-center electricity demand.
• Lead times for new combined-cycle gas power plants rose to five years in 2025 from three and a half years in 2023, with costs up 49%, according to BloombergNEF.

This summary is our own processing of the source article; see the source link below for full context.