Mitsubishi Power, a power solutions brand of Mitsubishi Heavy Industries, Ltd. (MHI), successfully captured the top market share by megawatts in 2023 with a global gas turbine market share of 36% according to McCoy Power Reports data.
The company has also secured a 56% market share in the Advanced Class gas turbine market, led by Mitsubishi Power’s latest model JAC (J-Series Air-Cooled) gas turbines. This is the second consecutive year for Mitsubishi Power to achieve the top global market share for gas turbines, following 2022.
Toshiyuki Hashi, Executive Vice President, President and CEO, Energy Systems of MHI, says: “MHI Group will continue to collaborate with partners around the world on decarbonization solutions, such as the development and commercialization of hydrogen and ammonia-fired gas turbines, as we actively strive towards achieving carbon neutrality on a global scale.”
Mitsubishi Power – Market share
The company’s high market share is the result of the company’s strong project execution track record, high performance, and product reliability.
It has extensive experience with large-frame gas turbines, including the F, G and J-class. The J-class (including the JAC model) has surpassed 2.3 million actual operating hours (AOH). Orders are also increasing worldwide, with cumulative orders recently surpassing 120 units.
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