The Zhitong Finance App learned that Mitsubishi Electric, the world's major power generation equipment manufacturer, said that demand for gas turbines has exceeded manufacturing capacity, causing the waiting time for delivery to continue to lengthen. Mitsubishi Electric Power CEO Akihiro Ondo said on Tuesday on the sidelines of Singapore International Energy Week: “We are talking about delivery around 2031.”
According to Ondo, the 2028 and 2029 delivery schedules are almost full. Mitsubishi Heavy Industries, the parent company of Mitsubishi Electric Power, said in 2025 that it plans to double production capacity within two years.
As data center construction boom, manufacturing expansion, and electrification transformation progressed, global demand for gas power generation surged, making it difficult for producers such as Mitsubishi, GE Vernova, and Siemens Energy to meet demand. Natural gas is seen as a cleaner alternative to fossil fuels than coal, providing backup power when wind and solar power fluctuate.
Extended wait times for delivery indicate that demand for natural gas remains strong even though the Middle East war curtailed supply in the Persian Gulf and pushed the global benchmark price to a four-year high. Ondo said demand for natural gas “will continue to grow” despite supply disruptions.
According to Ondo, new global orders this year are expected to be around 70 to 80 gigawatts, which is far above average. He said most of the demand still comes from North America, but demand in Asia is growing.
Ondo said that in Asia, he sees the greatest opportunities in Southeast Asia, particularly Malaysia and Singapore, as demand related to artificial intelligence is driving demand for gas turbines.