Mitsubishi Electric: Strong Demand for Gas Turbines, Delivery Schedule Extended Until 2031

According to Jinse Finance APP, global leading power generation equipment manufacturer Mitsubishi Power has stated that demand for gas turbines has surpassed manufacturing capacity, resulting in ever-lengthening delivery wait times. Mitsubishi Power CEO Akihiro Ondo said during a break at Singapore International Energy Week on Tuesday: “Right now, we are talking about deliveries around the year 2031.”

Ondo noted that delivery slots for 2028 and 2029 are almost fully booked. Mitsubishi Power’s parent company, Mitsubishi Heavy Industries, had announced in 2025 plans to double capacity within two years.

Driven by the boom in data center construction, manufacturing expansion, and the acceleration of electrification transformation, global demand for gas-fired power generation has surged. This has made it difficult for producers like Mitsubishi, GE Vernova, and Siemens Energy to keep up. Natural gas is considered a cleaner fossil fuel alternative to coal and can provide backup power during fluctuations in wind and solar generation.

The extension of delivery waiting times indicates that, despite the Middle East conflict constraining Persian Gulf supply and pushing global benchmark prices to four-year highs, demand for natural gas remains robust. Ondo stated that despite supply disruptions, natural gas demand “will continue to grow.”

Ondo revealed that new global orders this year are expected to be around 70 to 80 gigawatts, well above the average level. He said most demand still comes from North America, but demand in Asia is growing.

Ondo said that in Asia, he sees Southeast Asia, especially Malaysia and Singapore, as offering the greatest opportunities, as AI-related demand is driving growth in gas turbine requirements.