Market Trends

2025 orders hit a four-year high as gas turbine backlogs push data center developers toward a faster fix, but the rebound is landing just as one of the industry's largest OEMs explores selling the business behind it.

GE Aerospace is buying castings maker CPP for $11.75 billion, a week after SpaceX confirmed plans to cast its own gas turbine blades in-house.

Accelleron's H1 2026 revenue rose 21% as data center prime power turbocharger deliveries doubled to 5 GW, prompting a raised full-year outlook.

Siemens Energy is working with Goldman Sachs on a majority stake sale of its steam turbine and compressor unit, a deal that could exceed €10 billion.

Baker Hughes joins Kuwait Oil Company’s innovation hub, launching an R&D center to deploy AI automation with particular emphasis on digital solutions, artificial intelligence-driven automation, and fit-for-purpose technologies.

Siemens Energy's Gas Services orders surged 62% to a record as the company joined GE Vernova and Baker Hughes in reporting a record turbomachinery quarter.

Record IET orders fuel Baker Hughes’ $37B backlog as LNG liquefaction and data-center power turbine demand accelerates, reshaping supply chains.

EthosEnergy sold its O&M business, spanning 200+ facilities, to Brown & Root. CEO Ana Amicarella details the strategy behind the divestiture.

GE Vernova's Power segment orders jumped 134% in Q2 2026 as gas turbine backlog reached 116 GW; the company now targets 125 GW under contract by year-end.

Siemens Energy is rebranding as Omterra, unifying its gas turbine, compressor, and Siemens Gamesa wind portfolios under one corporate identity.

Baker Hughes completes its Chart Industries acquisition, forming a new industrial segment with expanded capabilities in LNG, hydrogen, and thermal management.

GE Vernova's expanded Frontier Campus in Niskayuna adds labs and testing space for power electronics, advanced materials, and grid-scale simulation research.

The artificial intelligence boom, defined by record OEM backlogs, a 66% surge in plant construction costs, a behind-the-meter revolution, and a decarbonization reckoning, is forcing every layer of the turbomachinery industry to adapt at a pace it has never seen before.

GE Vernova’s 2025 sustainability results highlight major emissions cuts, 26 GW new capacity, hydrogen/ammonia turbine progress, SMR licensing, CCS buildout, and grid upgrades.

The Merom simple-cycle natural gas project in Indiana becomes one of the first large-scale power development deals to be built around secondary-market turbine procurement — a direct response to OEM delivery windows now stretching to 2030.

DOE coal funding targets coal plant modernization and coal recommissioning, driving steam turbine upgrades, turbomachinery work, and grid reliability amid AI data center power demand.

Baker Hughes Chairman and CEO Lorenzo Simonelli outlined a decade-long growth cycle for industrial energy centered on turbomachinery, LNG, and AI data center power, highlighting the company’s shift toward industrial energy technology.

The acquired company allows Groome to deliver a comprehensive, turnkey specialty maintenance platform for customers operating critical natural gas infrastructure.

The HA turbine model was developed for a fundamental shift in the global power sector, involving the replacement of aging coal-fired generation with flexible, low-emission power.

System users can evaluate operating conditions and efficiently consider improvements, contributing to stable power plant operation and operational advances at Kobelco Power.

The companies will advance the realization of international liquefied hydrogen supply chains across Europe and Asia, contributing to global decarbonization and energy security.

Growing orders for Mk10.7 two-stroke engines reflect a market preference for dual-fuel readiness without locking vessels into a single decarbonization path.

Following this agreement, Alaska LNG has now entered contracts with major North Slope producers: ConocoPhillips, ExxonMobil, Hilcorp Alaska, and Great Bear Pantheon.

The Cheyenne Power Hub’s use of dedicated power will avoid strain on the existing electricity grid and will ensure that local ratepayers aren’t responsible for data center demand.

The transformation demonstrates Capstone’s expansion into markets where power resiliency, thermal efficiency, and grid constraints are becoming increasingly important considerations.