Gas turbine prices are projected to surge 195% from 2019-2027, reaching $600/kW. (WoodMac)
That’s because rising electrification demand, particularly from data centers, has created a “significant market imbalance,” WoodMac reports. In late 2025, global orders reached 110 GW—but manufacturing capacity tops out at 60-70 GW.
Now, supplies are sold out through 2027 with six-year lead times. Orders are expected to peak this year as gas developers lock in equipment for 63 GW of additions through 2030.
The hold-up: While major turbine makers like GE Vernova, Siemens Energy, and Mitsubishi are spending like crazy to scale, specialized labor shortages, component bottlenecks, and trade-related cost pressures will continue to limit throughput.