As Thomas Edison almost assuredly said to J.P. Morgan: There may be something to this whole electricity thing Pierpont.
I was dreaming when I wrote this, forgive me if it goes astray...
From Nikkei Asia, February 4:
Global market nearly doubles in 2025 on rising data center demand
A surge in U.S. demand for gas turbines is helping deliver a double-digit percentage sales and profit boost to Mitsubishi Heavy Industries, the Japanese company reported on Wednesday.
With more turbines needed to satisfy the increasing power demands of artificial intelligence, MHI expects a record operating profit of 410 billion yen ($2.6 billion) for its year ending in March, 15.5% higher than a year earlier, on sales of 4.8 trillion yen, up 10.1%.
Global demand for gas turbines almost doubled in 2025, to around 100 gigawatts from 55 GW in 2024, according to Hiroshi Nishio, chief financial officer at MHI. "Demand has turned out much stronger than expected," he said on an earnings call for the October-December fiscal third quarter. The year-on-year comparisons exclude Mitsubishi Logisnext, a forklift truck maker subsidiary that MHI is going to divest.
Between 2020 and 2023, demand for gas turbines ranged between 30 GW and 48 GW globally, according to Nishio. MHI had previously projected that demand would average 70 GW between 2025 and 2027, before stabilizing at around 50 GW.
Of the total demand, about half is for large systems -- mainly for electricity utilities -- and the remainder for medium-sized systems for industrial and commercial users.
MHI focuses on the large turbine segment, supplying them in gas turbine combined cycle systems, or GTCC. MHI competes with U.S.-based GE Vernova for the title of the world's largest gas turbine maker.
A surge in data center construction was driving the turbine boom, Nishio suggested. A shift to gas from other sources of power generation, such as nuclear, renewables and coal, as well as the need for replacements for old gas plants, were also behind the trend, he added....
....MUCH MORE
