The Natural Gas-Fired Power Generation Market research report provides a detailed analysis of diverse segments across 6 regions and 25 countries including Type (Simple Cycled, Combined Cycle), Equipment (Gas Turbine, Compressor, Electrical Motors, Generators, Pumps, Others), Application (Electricity Generation, Fuel Generation, Heating, Others), End-User (Manufacturing, Chemicals, Mining, Residential, Others).
Productivity, technology enablement, and sustainability remain the key market-driving forces in the global Natural Gas-Fired Power Generation industry landscape. Companies that invest in that supply chain and operational resiliency are poised to gain a competitive edge over other market players. The global energy investments are set to increase from around $1,652 Billion in 2024 to $2845 Billion in 2040. As the world is making steady progress towards net zero, energy security, affordability, and industrial competitiveness remain key focus areas of most Natural Gas-Fired Power Generation companies. The Natural Gas-Fired Power Generation demand trajectory varies based on multiple scenarios, from macroeconomic conditions, regulatory support, investment scenarios, and the global landscape. Decision makers across the Natural Gas-Fired Power Generation industry value chain formulating long-term transition strategies with a diverse range of future scenarios are likely to stay ahead of the competition curve.
In the natural gas-fired power generation market, there's a trend towards efficient and flexible gas-fired power plants. Innovations in combined cycle gas turbines (CCGT), advanced combustion technologies, and distributed generation systems are prevalent trends. Additionally, the adoption of natural gas-fired power for baseload, peaking, and backup power generation is gaining traction. Moreover, advancements in plant efficiency, emissions control, and fuel flexibility are shaping the market.
Key drivers propelling the natural gas-fired power generation market include the abundance of natural gas reserves, lower emissions compared to coal, and the need for reliable and flexible power sources. Natural gas-fired power offers advantages such as quick ramp-up times, low emissions, and compatibility with renewable energy, driving its adoption in regions transitioning from coal-fired generation and aiming for cleaner energy portfolios. Moreover, technological advancements in gas turbine designs, advanced combustion techniques, and efficient heat recovery contribute significantly to market growth.
Opportunities in the natural gas-fired power generation market lie in optimizing gas-based power plants and promoting cleaner energy solutions. Collaboration among power plant developers, gas suppliers, and regulatory bodies offers significant growth prospects. Moreover, investing in research and development for high-efficiency gas turbines, carbon capture technologies, and grid-compatible gas power solutions can unlock new avenues for market expansion. Exploring emerging markets with increasing energy demand and promoting the benefits of natural gas-fired power for reliable and cleaner electricity generation can further drive market growth and facilitate widespread adoption.
Natural Gas-Fired Power Generation uses natural gas as a fuel source to produce electricity in power plants. Gas turbines or combined-cycle power plants burn natural gas to generate high-pressure steam, driving turbines connected to generators for electricity production.
By Type
By Application
By Equipment
By End-User
By Region
• ACWA Power International
• Ansaldo Energia S.p.A.
• General Electric Company
• GR Energy Inc
• Mitsubishi Power, Ltd
• Reliance Power Limited
• Royal Dutch Shell Plc
• Sempra Energy
• Siemens AG
• Statkraft AS
• Sulzer Ltd
• WEC Energy Group, Inc.
*List not exhaustive
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TABLE OF CONTENTS
1 INTRODUCTION TO 2024 Natural Gas-Fired Power Generation MARKETS
1.1 Market Overview
1.2 Quick Facts
1.3 Scope/Objective of the Study
1.4 Market Definition
1.5 Countries and Regions Analyzed
1.6 Units, Currency, and Conversions
1.7 Industry Value Chain
2 RESEARCH METHODOLOGY
2.1 Market Size Estimation
2.2 Sources and Research Methodology
2.3 Data Triangulation
2.4 Assumptions and Limitations
3 EXECUTIVE SUMMARY
3.1 Global Natural Gas-Fired Power Generation Market Size Outlook, $ Million, 2021 to 2030
3.2 Natural Gas-Fired Power Generation Market Outlook by Type, $ Million, 2021 to 2030
3.3 Natural Gas-Fired Power Generation Market Outlook by Product, $ Million, 2021 to 2030
3.4 Natural Gas-Fired Power Generation Market Outlook by Application, $ Million, 2021 to 2030
3.5 Natural Gas-Fired Power Generation Market Outlook by Key Countries, $ Million, 2021 to 2030
4 MARKET DYNAMICS
4.1 Key Driving Forces of Natural Gas-Fired Power Generation Industry
4.2 Key Market Trends in Natural Gas-Fired Power Generation Industry
4.3 Potential Opportunities in Natural Gas-Fired Power Generation Industry
4.4 Key Challenges in Natural Gas-Fired Power Generation Industry
5 MARKET FACTOR ANALYSIS
5.1 Competitive Landscape
5.1.1 Global Natural Gas-Fired Power Generation Market Share by Company
5.1.2 Product Offerings by Company
5.2 Porter’s Five Forces Analysis
6 GROWTH OUTLOOK ACROSS SCENARIOS
6.1 Growth Analysis-Case Scenario Definitions
6.2 Low Growth Scenario Forecasts
6.3 Reference Growth Scenario Forecasts
6.4 High Growth Scenario Forecasts
7 GLOBAL Natural Gas-Fired Power Generation MARKET OUTLOOK BY SEGMENTS
7.1 Natural Gas-Fired Power Generation Market Outlook by Segments
Type
- Simple Cycled
- Combined Cycle
Application
- Electricity Generation
- Fuel Generation
- Heating
- Others
Equipment
- Gas Turbine
- Compressor
- Electrical Motors
- Generators
- Pumps
- Others
End-User
- Manufacturing Industries
- Chemical Industries
- Mining Industries
- Residential
- Others
8 NORTH AMERICA Natural Gas-Fired Power Generation MARKET ANALYSIS AND OUTLOOK TO 2030
8.1 Introduction to North America Natural Gas-Fired Power Generation Markets in 2024
8.2 North America Natural Gas-Fired Power Generation Market Size Outlook by Country, 2021-2030
8.2.1 United States
8.2.2 Canada
8.2.3 Mexico
8.3 North America Natural Gas-Fired Power Generation Market size Outlook by Segments, 2021-2030
Type
- Simple Cycled
- Combined Cycle
Application
- Electricity Generation
- Fuel Generation
- Heating
- Others
Equipment
- Gas Turbine
- Compressor
- Electrical Motors
- Generators
- Pumps
- Others
End-User
- Manufacturing Industries
- Chemical Industries
- Mining Industries
- Residential
- Others
9 EUROPE Natural Gas-Fired Power Generation MARKET ANALYSIS AND OUTLOOK TO 2030
9.1 Introduction to Europe Natural Gas-Fired Power Generation Markets in 2024
9.2 Europe Natural Gas-Fired Power Generation Market Size Outlook by Country, 2021-2030
9.2.1 Germany
9.2.2 France
9.2.3 Spain
9.2.4 United Kingdom
9.2.4 Italy
9.2.5 Russia
9.2.6 Norway
9.2.7 Rest of Europe
9.3 Europe Natural Gas-Fired Power Generation Market size Outlook by Segments, 2021-2030
Type
- Simple Cycled
- Combined Cycle
Application
- Electricity Generation
- Fuel Generation
- Heating
- Others
Equipment
- Gas Turbine
- Compressor
- Electrical Motors
- Generators
- Pumps
- Others
End-User
- Manufacturing Industries
- Chemical Industries
- Mining Industries
- Residential
- Others
10 ASIA PACIFIC Natural Gas-Fired Power Generation MARKET ANALYSIS AND OUTLOOK TO 2030
10.1 Introduction to Asia Pacific Natural Gas-Fired Power Generation Markets in 2024
10.2 Asia Pacific Natural Gas-Fired Power Generation Market Size Outlook by Country, 2021-2030
10.2.1 China
10.2.2 India
10.2.3 Japan
10.2.4 South Korea
10.2.5 Indonesia
10.2.6 Malaysia
10.2.7 Australia
10.2.8 Rest of Asia Pacific
10.3 Asia Pacific Natural Gas-Fired Power Generation Market size Outlook by Segments, 2021-2030
Type
- Simple Cycled
- Combined Cycle
Application
- Electricity Generation
- Fuel Generation
- Heating
- Others
Equipment
- Gas Turbine
- Compressor
- Electrical Motors
- Generators
- Pumps
- Others
End-User
- Manufacturing Industries
- Chemical Industries
- Mining Industries
- Residential
- Others
11 SOUTH AMERICA Natural Gas-Fired Power Generation MARKET ANALYSIS AND OUTLOOK TO 2030
11.1 Introduction to South America Natural Gas-Fired Power Generation Markets in 2024
11.2 South America Natural Gas-Fired Power Generation Market Size Outlook by Country, 2021-2030
11.2.1 Brazil
11.2.2 Argentina
11.2.3 Rest of South America
11.3 South America Natural Gas-Fired Power Generation Market size Outlook by Segments, 2021-2030
Type
- Simple Cycled
- Combined Cycle
Application
- Electricity Generation
- Fuel Generation
- Heating
- Others
Equipment
- Gas Turbine
- Compressor
- Electrical Motors
- Generators
- Pumps
- Others
End-User
- Manufacturing Industries
- Chemical Industries
- Mining Industries
- Residential
- Others
12 MIDDLE EAST AND AFRICA Natural Gas-Fired Power Generation MARKET ANALYSIS AND OUTLOOK TO 2030
12.1 Introduction to Middle East and Africa Natural Gas-Fired Power Generation Markets in 2024
12.2 Middle East and Africa Natural Gas-Fired Power Generation Market Size Outlook by Country, 2021-2030
12.2.1 Saudi Arabia
12.2.2 UAE
12.2.3 Oman
12.2.4 Rest of Middle East
12.2.5 Egypt
12.2.6 Nigeria
12.2.7 South Africa
12.2.8 Rest of Africa
12.3 Middle East and Africa Natural Gas-Fired Power Generation Market size Outlook by Segments, 2021-2030
Type
- Simple Cycled
- Combined Cycle
Application
- Electricity Generation
- Fuel Generation
- Heating
- Others
Equipment
- Gas Turbine
- Compressor
- Electrical Motors
- Generators
- Pumps
- Others
End-User
- Manufacturing Industries
- Chemical Industries
- Mining Industries
- Residential
- Others
13 COMPANY PROFILES
13.1 Company Snapshot
13.2 SWOT Profiles
13.3 Products and Services
13.4 Recent Developments
13.5 Financial Profile
List of Companies
- ACWA Power International
- Ansaldo Energia S.p.A.
- General Electric Company
- GR Energy Inc
- Mitsubishi Power, Ltd
- Reliance Power Limited
- Royal Dutch Shell Plc
- Sempra Energy
- Siemens AG
- Statkraft AS
- Sulzer Ltd
- WEC Energy Group, Inc.
14 APPENDIX
14.1 Customization Offerings
14.2 Subscription Services
14.3 Related Reports
14.4 Publisher Expertise
Natural Gas-Fired Power Generation uses natural gas as a fuel source to produce electricity in power plants. Gas turbines or combined-cycle power plants burn natural gas to generate high-pressure steam, driving turbines connected to generators for electricity production.
By Type
By Application
By Equipment
By End-User
By Region
The global Natural Gas Fired Power Generation Market is one of the lucrative growth markets, poised to register a 4.8% growth (CAGR) between 2024 and 2030.
Emerging Markets across Asia Pacific, Europe, and Americas present robust growth prospects.
ACWA Power International, Ansaldo Energia S.p.A., General Electric Company, GR Energy Inc, Mitsubishi Power, Ltd, Reliance Power Limited, Royal Dutch Shell Plc, Sempra Energy, Siemens AG, Statkraft AS, Sulzer Ltd, WEC Energy Group, Inc. ,
Base Year- 2023; Estimated Year- 2024; Historic Period- 2018-2023; Forecast period- 2024 to 2030; Currency: USD; Volume