Global Gas Turbine Orders Hit Record High as Power Demand Surges

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Global orders for gas turbines have reached record levels as demand for power generation surges, with a 29% increase in Q2 compared to Q1. Siemens Energy and General Electric are leading manufacturers benefiting from this growth in turbine orders.

Global orders for gas turbines have hit a record high as demand for power generation surges, according to JP Morgan. New gas turbine orders in the second quarter stood at 38 GW, which was 29% higher than orders in the first quarter of the year, the bank said, as quoted by Bloomberg. The increase in second-quarter orders was much higher on an annual basis, too, at 71%, JP Morgan also reported. Of the three big gas turbine makers, Siemens Energy saw the most new orders in the second quarter, at a total of 12.5 GW. General Electric booked orders for…