Natural Gas Fired Electricity Generation Market to grow by 122.7 million toe from 2022 to 2027

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25 Aug, 2023, 16:30 ET

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NEW YORK, Aug. 25, 2023 /PRNewswire/ -- The natural gas-fired electricity generation market is estimated to grow by 122.7 million toe from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 3.95% during the forecast period. However, the growth momentum will progress. For more insights on the historical (2017 to 2021) and forecast market size (2023 to 2027) - Request a free sample report

What's New?

Natural Gas-Fired Electricity Generation Market - Segmentation Assessment

Segment Overview

Technavio has segmented the market based on type (CGCT and OCGT), and end-user (residential, commercial, and industrial)

Geography Overview

By geography, the natural gas-fired electricity generation market is segmented into North America, APAC, Europe, the Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the natural gas-fired electricity generation market.

Insights on the market contribution of various segments, including country and region wise historic data (2017 to 2021), and forecast market size (2023 to 2027) - Download a free Sample Report

Natural Gas-Fired Electricity Generation Market – Market Dynamics

Key Driver

The increasing natural gas production is a key factor driving market growth. Due to the rising supply of tight gas, shale gas, and coalbed methane, natural gas is now the fossil fuel with the fastest rate of growth. The global supply of natural gas has expanded since 2008 as a result of effective shale oil and gas extraction in countries like the US. Russia, the second-largest producer of natural gas in the world behind the US, has enormous untapped natural gas production capability on the Yamal peninsula. The growth in natural gas output globally means that natural gas will be easily accessible for use in producing electricity. Hence, these factors are expected to drive market growth during the forecast period.

Major Trend

A shift to gas generators is a major trend in the market.

Significant Challenge

The environmental concerns associated with the combustion of natural gas is a significant challenge restricting market growth.

Insights on Market Drivers, trends, & Challenges, historic period(2017 to 2021), and forecast period(2023 to 2027)- Request a free sample report!

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Natural Gas-Fired Electricity Generation Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 3.95%

Market growth 2023-2027

122.7 million toe

Market structure

Fragmented

YoY growth 2022-2023 (%)

3.7

Regional analysis

North America, APAC, Europe, Middle East and Africa, and South America

Performing market contribution

North America at 55%

Key countries

US, Canada, China, Japan, and Russia

Competitive landscape

Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

Bharat Heavy Electricals Ltd., Centrais Eletricas Brasileiras SA, Central Puerto S.A., China Resources Holdings Co. Ltd., Dominion Energy Inc., Duke Energy Corp., Exelon Corp., General Electric Co., Iberdrola SA, Kawasaki Heavy Industries Ltd., Mitsubishi Heavy Industries Ltd., Nextera Energy Inc., NRG Energy Inc., NTPC Ltd., RWE AG, Sembcorp Industries Ltd., Siemens AG, Tokyo Electric Power Co. Holdings Inc., Vattenfall AB, and ENGIE SA

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by End User

7 Market Segmentation by Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Company Landscape

12 Company Analysis

13 Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com

SOURCE Technavio