Natural Gas-Fired Electricity Generation Market Global Industry Forecasts 2016 - 2024
The market intelligence study, with the help of analytical tools, offers a detailed analysis of the global natural gas fired electricity generation market. The research study throws light on the key segments of the global market and presents the expected market share and growth rate throughout the forecast period. In addition, the primary applications, technological advancements, latest trends, and the leading geographical segments of the global natural gas fired electricity generation market have been discussed in the research study. A thorough overview of the competitive landscape of the global market has been provided, focusing on the product portfolio, financial status, business strategies, and mergers and acquisitions in the market.
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Global Natural Gas Fired Electricity Generation Market: Drivers and Restraints
The rising demand for energy across the globe owing to the tremendously rising population is one of the important factors anticipated to fuel the growth of the global natural gas fired electricity generation market in the next few years. As natural gas is considered as one of the best options for electricity generation, thanks to its environment friendly characteristics in comparison with other fuels that are used for generation of electricity across the globe.
The increasing use of natural gas for power generation as it is considered as a feasible option in terms of costs is projected to encourage market growth. In addition, the rising pressure on several countries to reduce their carbon footprint is likely to drive the demand for natural gases in the next few years. The falling costs of natural gas owing to the discovery of a huge quantity of unconventional gas resources are estimated to bolster global natural gas fired electricity generation market in the next few years.
Global Natural Gas Fired Electricity Generation Market: Region-wise Outlook
The global market for natural gas fired electricity generation can be divided on the basis of geography into North America, Asia Pacific, Europe, and the Rest of the World. Among these regions, North America is expected to lead the global market for natural gas fired electricity generation in the forecast period. The boom of shale gas in this region has been pushing the electricity generation industry to shift their focus towards the use of natural gas for generation of electricity. This is likely to offer relatively low cost for electricity generation, which in turn will encourage the growth of the natural gas fired electricity generation market in North America.
Furthermore, Asia Pacific is considered as an attractive market and is projected to witness progressive growth in the next few years. The significant contribution from India and China is estimated to encourage the growth of the Asia Pacific market in the coming years. In addition, governments of these countries are constantly making efforts to reduce their carbon footprints, thus encouraging the generation of electricity making use of clean natural gas rather making use of coal. Europe is likely to witness steady growth in the next few years.
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Key Players Mentioned in the Research Report are:
Some of the prominent players operating in the natural gas fired electricity generation market across the globe DeLonghi-Climaveneta, ICS Heat Pump Technology, Mitsubishi Electric, Viessmann, Danfoss Heat Pumps, Geothermal International Ltd., NIBE, TEV Limited, Global Energy Systems and Technology, Earth Energy Limited, Transen Sustainable Energy Systems Limited, Ideal Boilers, and Keston Boilers.
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