Siemens Energy Accelerates Global Gas-Fired Power Development

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Written by Will Ploch, Assistant Editor-in-Chief for IIR News Intelligence (Sugar Land, Texas)

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Summary

Siemens Energy is investing in its product development amid growing demand for gas-fired power equipment, with roughly half of its projected global demand coming from the U.S.

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U.S. Leads in Gas-Power Demand

Siemens Energy AG expects the market for natural gas-fired power generation will continue to grow far beyond the near term, and it is investing accordingly in its product development. The company plans to expand its transformer and gas-insulated switchgear manufacturing capacity by roughly 50% by 2030, by which time it estimates the global market for gas turbines will have reached 120 gigawatts (GW) per year.

Industrial Info Resources is tracking more than $38 billion worth of active and proposed projects worldwide featuring Siemens Energy's services, about 40% of which is located in North America.

In a quarterly earnings-related conference call, Christian Bruch, the chief executive officer of Siemens Energy, estimated "around half" of the 120 GW of demand would come from the U.S.: "It will be a substantial market going forward. I would say there is an additional 20 GW upside potential, seeing what data centers are going to do."

As part of a broad, $1 billion multi-site buildout, Siemens started site preparation last month on a high-voltage switchgear plant in Richland, Mississippi. The project, which is expected to remain under construction throughout 2027, would cater to a region seeking to modernize its aging grid infrastructure.

Industrial Info Resources offers more information on the Richland development in its Global Market Intelligence (GMI) Industrial Manufacturing Plant and Project databases, where readers can find details--including construction schedules, investment values and necessary equipment--in a plant profile and project report.

According to Industrial Info Resources data, about $9 billion of the nearly $14 billion in North American-based projects featuring Siemens Energy's services is attributed to gas-fired developments.

One of the largest--and one of the longest under development--recently hosted a completion ceremony: the 950-megawatt (MW) Trumbull Energy Center in Lordstown, Ohio, which is co-owned by Siemens, Korea Overseas Infrastructure and Urban Development Corporation and Korea Southern Power Company, the latter of which is a subsidiary of Korea Electric Power Corporation. Readers can consult a plant profile.

Among projects under construction, SaskPower's combined-cycle, US$1 billion Aspen Power Station in Lanigan, Saskatchewan, is expected to generate 370 MW from a turbine and generator provided by Siemens. The project, which began construction in the spring of 2024, will be supported by TransGas Limited's Aspen Supply Project, a lateral pipeline that will transport up to 100 million standard cubic feet per day of gas. Readers can consult detailed reports on the Aspen Power Station and its pipeline.

By the Numbers

• More than $38 billion: Total value of active and proposed projects worldwide featuring Siemens Energy's services
• About $9 billion: Total value of North American-based gas-fired projects featuring Siemens Energy's services
• $20.42 billion: Total value of Siemens Energy's orders at the end of its fiscal third quarter

Order Numbers Offer Proof

Burch said during the earnings call that Munich, Germany-based Siemens Energy's orders hit a record-high 17.9 billion euros (US$20.42 billion) during the fiscal third quarter.

"Order momentum during the quarter was driven by the product business, primarily large power transformers, and demand related to data center infrastructure remained healthy," Burch said. "Additional brownfield capacity investments supported further revenue growth."

Altogether, Siemens Energy booked 15 GW of orders during its third quarter. The company's revenues were reported to be 11.45 billion euros (US$13.06 billion), a 17.47% increase from third-quarter 2025; net income stood at 1.2 billion euros (US$13.7 billion), compared with 697 million euros (US$795.12 million) in the same period last year.

Outside its gas-fired power business, Siemens Energy continues to develop newer technologies, such as its industrial electrical equipment plant in Pomona, California, which is designed to produce low-voltage equipment for the electric vehicle (EV) and other markets. The project started construction last year and is expected to run into 2027. Readers can learn more from a plant profile and project report.

The Industrial Info Resources GMI Project and Plant databases offer a full list of detailed reports for projects mentioned in this article, and a full list of related plant profiles.

Industrial Info Resources also offers a full list of reports for active and proposed projects worldwide featuring Siemens Energy's services.

Key Takeaways

• Siemens Energy plans to expand its transformer and gas-insulated switchgear manufacturing capacity by roughly 50% by 2030.
• About half of the 120 GW of demand expected by 2030 will come from the U.S., according to executives.
• Siemens Energy's orders hit a record high during its fiscal third quarter of 2026.

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About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news, and analysis on the industrial process, manufacturing, and energy-related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified, and verified plant and project opportunities. Across the world, Industrial Info Resources is tracking over 250,000 current and future projects worth $30.2 trillion (USD).