Natural Gas Fired Electricity Generation Market by Type and Geography - Forecast and Analysis 2021-2025

  • Published: Oct 2021
  • Pages: 120
  • SKU: IRTNTR71390
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The natural gas fired electricity generation market share is expected to increase by 880.78 TWh from 2020 to 2025, and the market’s growth momentum will decelerate at a CAGR of 2.68%.

This natural gas fired electricity generation market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by type (CGCT and OCGT) and geography (North America, APAC, Europe, MEA, and South America). The natural gas fired electricity generation market report also offers information on several market vendors, including Chubu Electric Power Co. Inc., Dominion Energy Inc., Duke Energy Corp., ENGIE SA, Exelon Corp., General Electric Co., Kawasaki Heavy Industries Ltd., Mitsubishi Heavy Industries Ltd., Siemens Energy AG, and Tokyo Electric Power Co. Holdings Inc. among others.

What will the Natural Gas Fired Electricity Generation Market Size be During the Forecast Period?

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Natural Gas Fired Electricity Generation Market: Key Drivers and Trends

The increased natural gas consumption in the industrial sector is notably driving the natural gas fired electricity generation market's growth, although factors such as a rise in the adoption of renewables for electricity generation may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the natural gas fired electricity generation market industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Natural Gas Fired Electricity Generation Market Driver

The vast availability of natural gas resources is contributing to its strong position in terms of competition. There is an increase in the demand for natural gas, as it is the dominant fuel for electric power generation and the industrial sector. The industrial sector uses natural gas as a fuel source and/or feedstock to meet different energy requirements. The growth in the global manufacturing sector is expected to steadily increase the demand for natural gas fired electricity generation in the future. 

Key Natural Gas Fired Electricity Generation Market Challenge

The rising demand for energy and the shift toward the adoption of clean energy technologies to reduce carbon emissions are leading to efforts to reduce coal fired and natural gas fired power generation by imposing carbon dioxide emission intensity-based limits on these power generation units. Moreover, the adoption of renewables for electricity generation is supported by governments across the globe. These regulations and increased governmental support for renewables challenge the growth of the market in focus, but they do not completely hinder the development of modern power generation facilities using natural gas.

This natural gas fired electricity generation market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Natural Gas Fired Electricity Generation Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Chubu Electric Power Co. Inc.
  • Dominion Energy Inc.
  • Duke Energy Corp.
  • ENGIE SA
  • Exelon Corp.
  • General Electric Co.
  • Kawasaki Heavy Industries Ltd.
  • Mitsubishi Heavy Industries Ltd.
  • Siemens Energy AG
  • Tokyo Electric Power Co. Holdings Inc.

 

This statistical study of the natural gas fired electricity generation market encompasses successful business strategies deployed by the key vendors. The natural gas fired electricity generation market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

The natural gas fired electricity generation market's forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Natural Gas Fired Electricity Generation Market?

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47% of the market’s growth will originate from APAC during the forecast period. China is the key market for natural gas fired electricity generation in APAC. Market growth in this region will be faster than the growth of the market in all other geographical regions such as MEA, North America, Europe, and South America.

This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Type Segments in the Natural Gas Fired Electricity Generation Market?

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The natural gas fired electricity generation market share growth by the CGCT segment will be significant during the forecast period. CCGTs now have a quick response time to complement the variations in renewable power generation. Hence, with time, CCGTs have evolved to become more flexible with a cyclic pattern of use. Therefore, in order to meet the evolving market demand, CCGT suppliers, propelled by the intensified competition between companies for market share, have been developing innovative offerings leading to the segment's growth.

This report provides an accurate prediction of the contribution of all the segments to the growth of the natural gas fired electricity generation market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Natural Gas Fired Electricity Generation Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Decelerate at a CAGR of 2.68%

Market growth 2021-2025

880.78 TWh

Market structure

Fragmented

YoY growth (%)

2.90

Regional analysis

North America, APAC, Europe, MEA, and South America

Performing market contribution

APAC at 47%

Key consumer countries

US, Russian Federation, China, Iran (Islamic Republic of Iran), and Canada

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Chubu Electric Power Co. Inc., Dominion Energy Inc., Duke Energy Corp., ENGIE SA, Exelon Corp., General Electric Co., Kawasaki Heavy Industries Ltd., Mitsubishi Heavy Industries Ltd., Siemens Energy AG, and Tokyo Electric Power Co. Holdings Inc.

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 forecast period

Customization purview

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What are the Key Data Covered in this Natural Gas Fired Electricity Generation Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive natural gas fired electricity generation market growth during the next five years
  • Precise estimation of the natural gas fired electricity generation market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the natural gas fired electricity generation industry across North America, APAC, Europe, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of natural gas fired electricity generation market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Type

    • Market segments
    • Comparison by Type
    • CGCT - Market size and forecast 2020-2025
    • OCGT - Market size and forecast 2020-2025
    • Market opportunity by Type

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • North America - Market size and forecast 2020-2025
      • APAC - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • MEA - Market size and forecast 2020-2025
      • South America - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Overview
      • Vendor landscape
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • Chubu Electric Power Co. Inc.
      • Dominion Energy Inc.
      • Duke Energy Corp.
      • ENGIE SA
      • Exelon Corp.
      • General Electric Co.
      • Kawasaki Heavy Industries Ltd.
      • Mitsubishi Heavy Industries Ltd.
      • Siemens Energy AG
      • Tokyo Electric Power Co. Holdings Inc.

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
      Technavio

      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
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      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
      Interested in this report?
      Get your FREE sample now!
      The natural gas fired electricity generation market growth will increase by $880.78 TWh during 2020-2025.
      The natural gas fired electricity generation market is expected to grow at a CAGR of 2.68% during 2020-2025.
      Technavio has segmented the natural gas fired electricity generation market by type (CGCT and OCGT) and geographic (North America, APAC, Europe, MEA, and South America).
      Chubu Electric Power Co. Inc., Dominion Energy Inc., Duke Energy Corp., ENGIE SA, Exelon Corp., General Electric Co., Kawasaki Heavy Industries Ltd., Mitsubishi Heavy Industries Ltd., Siemens Energy AG, Tokyo Electric Power Co. Holdings Inc. are a few of the key vendors in the natural gas fired electricity generation market.
      APAC will register the highest growth rate of 47.38% among the other regions. Therefore, the natural gas fired electricity generation market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
      • US
      • Russian Federation
      • China
      • Iran (Islamic Republic of Iran)
      • Canada
      The key factors driving the natural gas fired electricity generation market growth are:
      • Increased natural gas consumption in the industrial sector
      The natural gas fired electricity generation market vendors should focus on grabbing business opportunities from the cgct segment as it accounted for the largest market share in the base year.
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