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23 June | Gas

Surge in gas turbine orders signals rising fuel demand — Barclays

Natural gas
Surge in gas turbine orders signals rising fuel demand — Barclays

According to Barclays, gas turbine orders are emerging as one of the most accurate leading indicators of rising future demand for natural gas in power generation.

The organization’s base-case forecast projects US gas consumption for electric power production to rise by over 10 billion cubic feet per day (Bcf/d) by 2030, with potential upside reaching nearly 14 Bcf/d.

This value increase aligns with rising global orders for new gas turbines. Barclays reports that orders for this equipment surged 34% year-over-year in 2024, the highest level in a decade. The bank’s analysts project order volumes will jump another 40% in 2025.

As the organization notes, North America’s share of global gas turbine orders increased from 14% in 2023 to 26% in 2024. Experts project this figure will rise to 40–50% between 2025 and 2030.

Elena Berseneva MarketCheese

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