“In North America alone, we're seeing significant investment in Electrification, where we expect our combined serviceable addressable market to grow at approximately 10% compounded growth rate, doubling in size by 2030 — driven by expanded electrification needs, data center growth and rising digitization.”

GE Vernova's electrification equipment backlog has continued to climb (above $40 billion by Q2 2026), but the 2030 market-doubling claim cannot be judged until the end of the decade.