Global Natural Gas Fired Electricity Generation Market is valued approximately at USD XX Million in 2020 and is anticipated to grow with a healthy growth rate of more than 4.7% over the forecast period 2021-2027. Supportive government regulations for energy production using natural-gas, rising environmental concern due to high carbon emission by use of coal for electricity generation and rising determination of natural gas reserves are fueling growth in the market. For instance, according to U.S. Energy Information Administration, the U.S. total proved reserves of associated-dissolved natural gas increased from 119.6 Tcf in 2018 to 121.9 Tcf in 2019?an increase of 1.9%. Furthermore, strategic initiatives and technological advancements are expected to push the market towards further growth. Such as, in April 2020, Atura Power announced the acquisition of 3 natural gas-fired plants from TC Energy, with an investment of USD 2 billion. However, rising share of renewable sources for electricity generation and lack of natural gas infrastructure in some countries may hinder the growth during forecast period.
North America is leading the world market in terms of market share among Asia Pacific, North America, Europe, Latin America, and Rest of the World, owing to increase in production of shale gas in the region. Whereas, Asia Pacific is expected to grow with the fastest pace during forecast period, due to government policies regarding curbing carbon emissions and encouragement to power generation sector to use natural gas rather then coal for power generation.
Major market player included in this report are:
Mitsubishi Hitachi Power Systems, Ltd.
Kawasaki Heavy Industries, Ltd.,
Ansaldo Energia S.P.A.
Centrax Gas Turbines
Man Energy Solutions
Opra Turbines B.V.
Solar Turbines Incorporated
Bharat Heavy Electricals Limited
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Power & Utility
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.
Target Audience of the Global Natural Gas Fired Electricity Generation Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers