CITIC Securities research note says it remains strongly positive on Chinese-made
gas turbines exporting overseas. Demand: Siemens Energy raised its multi-year
annual gas-turbine demand estimate to about 110–120 GW (from 90–100 GW) on its
latest call and reported no sign of demand slowing. Supply: Siemens described
industry capacity additions as measured and said industrial gas-turbine
expansion will not correct the supply–demand imbalance; over the medium term
capacity, efficiency and life‑cycle cost matter more than short‑term
availability, and industrial units cannot substitute for large-frame gas
turbines. Siemens also flagged short lead-times as a scarce, premium-paying
resource for data-center and hyperscale cloud projects. CITIC says recent
price/volume pullbacks do not change the medium-term tight balance in the
gas-turbine market.
