Analysis of the Impact of Supply Chain Bottlenecks in North American Natural Gas Power Plants on Investment Opportunities in Data Center Power Infrastructure

With the rapid development of AI and cloud computing, data centers are becoming the main driver of power demand growth. According to the latest market research, the global AI infrastructure market reached $26.18 billion in 2024 and is expected to grow at a compound annual growth rate (CAGR) of 23.8% from 2025 to 2034 [2]. Meanwhile, data centers will account for approximately 2% of global electricity consumption in 2025, reaching 536 TWh [4].

In North America, natural gas has become the largest fuel source for data centers, accounting for over 40% of demand [1]. This trend is mainly driven by the following factors:

• Continuous growth of AI workloads
  : Generative AI computing demand is growing exponentially
• 24/7 reliability requirements
  : Data centers need uninterrupted power supply 24×7
• Grid stability needs
  : Dispatchable power is key to filling the intermittent gap of renewable energy

According to market data, the delivery cycles for key power infrastructure equipment have reached historical highs:

:

• Heavy-duty gas turbine lead times extended to
  243 weeks
  (about 4.7 years)
• The market is monopolized by three companies: GE Vernova, Siemens Energy, and Mitsubishi Power, which hold approximately
  2/3
  of the global market share
• Over $400 billion in planned gas power plant projects are at risk of delay or cancellation [1]

:

• Power transformer delivery cycles reach
  128-143 weeks
  (about 2.5-2.8 years)
• The total number of new gas power plants is expected to be limited by approximately
  58 GW
  between 2025 and 2030

The three major manufacturers face triple constraints of technology, capital, and cycle:

1. Technical barriers
   : Heavy-duty gas turbine manufacturing requires highly precise technology and processes
2. Capital-intensive
   : Capacity expansion requires huge investments with long payback periods
3. Supply chain complexity
   : Involves coordination of thousands of component suppliers worldwide

:

• Stock price increased by over
  101%
  year-to-date, with a current market capitalization of $184.86 billion [0]
• Analyst target price is $749, representing a
  9.9%
  upside potential from the current price [0]
• 66.7% of analysts give a “Buy” rating, with a target range of $475-$860 [0]
• The company has diversified advantages in gas turbine, nuclear, wind, and hydroelectric technologies [6]

:

• Benefits from data center and AI-driven power demand growth
• The only integrated supplier capable of providing end-to-end power solutions
• Service revenue accounts for 45.8%, providing stable cash flow [0]

The global battery energy storage system market is expected to reach

by 2033, with a CAGR of from 2025 to 2033 [5]. The data center battery market was valued at $3.2 billion in 2024 and is expected to reach $4.1 billion by 2030 [4].

The microgrid as a service market was valued at $3.56 billion in 2024 and is expected to reach $8.84 billion by 2030, with a CAGR of

[5].

• Distribution automation
  : Improve grid reliability and efficiency
• Power electronic equipment
  : Support grid integration of renewable energy
• Demand response systems
  : Optimize load management

Current transformer delivery bottlenecks create investment opportunities for localized manufacturing:

• Establish regional transformer manufacturing bases
• Develop modular and standardized transformer production lines
• Invest in transformer remanufacturing and refurbishment technologies

• Geopolitical factors
  : Global supply chain disruption risks
• Raw material price fluctuations
  : Rising costs of key materials like steel and copper
• Shortage of skilled workers
  : Insufficient highly skilled manufacturing talents

• Tightening environmental policies
  : Restrictions on gas-fired power generation may be strengthened
• Energy policy adjustments
  : Changes in government energy strategies affect investment returns
• Grid connection access thresholds
  : Electricity market access conditions may be raised

• Competition from emerging technologies
  : Development of new technologies like Small Modular Reactors (SMR)
• Accelerated technological iteration
  : Rapid development of energy storage technology may change the market landscape

1. Focus on gas turbine manufacturers
   : Benefit from current equipment shortages and price increases
2. Invest in transformer supply chain optimization
   : Address the most pressing grid bottlenecks
3. Pay attention to energy storage system integrators
   : Meet short-term backup power needs of data centers

1. Layout diversified power solutions
   : Combination of gas + energy storage + renewable energy
2. Invest in grid digital infrastructure
   : Improve grid intelligence level
3. Develop modular power solutions
   : Shorten construction cycles and increase flexibility

1. Focus on emerging power generation technologies
   : Small nuclear reactors, hydrogen power generation, etc.
2. Invest in power Internet of Things
   : Achieve coordinated optimization of source-grid-load-storage
3. Layout carbon neutrality technologies
   : Clean technologies like green hydrogen and CCUS

Supply chain bottlenecks in North American natural gas power plants create unique investment opportunities for data center power infrastructure. While extended delivery times for gas turbines and transformers limit traditional power infrastructure construction in the short term, they also spawn a series of alternative and complementary investment opportunities.

Investors should:

1. Focus on leading enterprises with core technologies
   , such as integrated power solution providers like GE Vernova
2. Diversify investment portfolios
   : Balance between traditional energy infrastructure and emerging technologies
3. Closely monitor policy changes
   : Adjust investment strategies in a timely manner to respond to regulatory environment changes

In this round of power demand growth cycle driven by AI, enterprises that can provide flexible, reliable, and sustainable power solutions will achieve the highest investment returns.

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[0] Jinling API Data - GE Vernova (GEV) Stock Data and Company Profile
[1] Bloomberg - “AI-Driven Demand for Gas Turbines Risks a New Energy Bottleneck” (https://www.bloomberg.com/features/2025-bottlenecks-gas-turbines/)
[2] Yahoo Finance - “AI Infrastructure Market Trends and Growth Analysis Report” (https://finance.yahoo.com/news/ai-infrastructure-market-trends-growth-161400071.html)
[3] Forbes - “As AI Booms, Data Centers May Create Electricity Scarcity Among Users” (https://www.forbes.com/sites/kensilverstein/2025/12/15/as-ai-booms-data-centers-may-create-electricity-scarcity-among-users/)
[4] Yahoo Finance - “Data Center Batteries Industry Research Report 2025” (https://finance.yahoo.com/news/data-center-batteries-industry-research-104900012.html)
[5] Yahoo Finance - “Microgrid as a Service Market Research 2025” (https://uk.finance.yahoo.com/news/microgrid-market-research-2025-global-152900362.html)
[6] Insider Monkey - “Jim Cramer Believes GE Vernova is Not ‘Done Going Higher’” (https://www.insidermonkey.com/blog/jim-cramer-believes-ge-vernova-is-not-done-going-higher-1659138/)