Market Trends

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.

The collaboration focuses on oil-free innovations that help customers reduce energy consumption, improve process efficiency, and support sustainability goals.

The Kirklareli facility is expected to be among the most efficient combined-cycle gas power plants in Türkiye, achieving over 63% net efficiency in combined-cycle mode.

This project represents British Columbia Ferry Services’ largest-ever capital investment, with the ferries constructed for future sustainability and all-electric operation in mind.

The Upper Sileru pumped-storage project will play a role in supporting India’s energy transition by providing long-duration energy storage to balance intermittency on the national grid.

The latest release enhances computational fluid dynamics functionality for radial and axial machines, allowing users to solve secondary passages with various labyrinth seal designs.