The US gas turbine market is facing a major supply-demand imbalance, with global orders at 110 GW but manufacturing capacity limited to 60–70 GW, driving prices toward $600/kW by 2027—a 195% increase since 2019, according to Wood Mackenzie.
The surge is fueled by electrification, particularly the rapid growth of data centers and AI workloads, which are expected to nearly double electricity demand by 2031. Large projects like SB Energy’s 9.2 GW Portsmouth facility highlight the scale of turbine needs.
Manufacturers such as GE Vernova, Siemens Energy, and Mitsubishi Heavy Industries are expanding capacity, but bottlenecks in specialized labor and precision components, like single-crystal turbine blades, will constrain production and keep prices high through the decade.
