About Natural Gas-Fired Power Generation
Natural Gas-Fired Power Generation is a thermal power station which burns natural gas to create electricity. Natural Gas-Fired Power Generates the most of the electricity power over the world. Natural gas is the clean and efficient form of fuel. It creates the less number of carbon dioxide emission. Natural Gas-Fired Power Generation generates natural gas from fossil fuel in which chemical energy stored in natural gas, which is mainly methane, is converted successively into thermal energy, mechanical energy and, finally, electrical energy.
|Value (USD Million)
The market for Natural Gas-Fired Power Generation is highly competitive with several global as well as local players in the market. The global players are trying various strategies such as service innovation and using various marketing strategies to gain a higher market share. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Natural Gas-Fired Power Generation market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Sulzer (Switzerland), General electric (United States), ACWA Power (Saudi Arabia), WEC Energy Group (United States), Reliance Power (India), SHELL (United States), Siemens AG (Germany), Mitsubishi Power (Japan), Ansaldo Energia S.P.A. (Italy) and Sempra Energy (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are GR Energy Inc (United States) and Statkraft (Norway).
AMA Research has segmented the market of Global Natural Gas-Fired Power Generation market by Type (Simple Cycled and Combined Cycle), Application (Electricity Generation, Fuel Generation, Heating and Other) and Region.
On the basis of geography, the market of Natural Gas-Fired Power Generation has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Equipment, the sub-segment i.e. Gas Turbine will boost the Natural Gas-Fired Power Generation market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Manufacturing Industries will boost the Natural Gas-Fired Power Generation market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Uses of Artificial Intelligence and Advanced Technology and Rising Demand of Renewable Energy Resources Across the World
Market Growth Drivers:
Rising Demand of Electricity Power Over the World and Rapidly Growing Urbanization and Industrialization
Lack of Standardization associated with Natural Gas-Fired Power Generation and Strict Government Regulations for Natural Gas-Fired Power Generation
Leads to Large Amount of Greenhouse Gas Emissions and High Cost Initial Investment Associated with Natural Gas-Fired Power Generation
Rapid Growth in Globalization and Advanced Infrastructure
Market Leaders and their expansionary development strategies
On 08 April 2020 Uniper and Siemens Gas and Power signed a cooperation agreement for the development of projects on the decarbonization of power generation and promoting sector coupling. It extends the long-standing partnership between the two companies. It is important to look at the energy, mobility and industry sectors together, because they all can and must contribute to reducing greenhouse gases.
On 29 October 2021, Japan's Mitsubishi Heavy Industries Ltd. has announced the start of commercial operations of a 500-megawatt natural gas-fired power generation system it provided to a power plant run by Indonesia's state-owned electricity provider PT PLN on the northwestern coast of Java.
ON 8 June 2022, The German government has passed a law to make it more difficult to use natural gas in power plants in emergency situations. Part of the regulations is also an expansion of the coal reserve. With the Substitute Power Plant Maintenance Act, the German government is preparing for the event that natural gas supplies from Russia cease. Should this scenario occur, the government wants to prevent the then scarce gas from ending up in electricity generation and is planning a penalty for this.The regulations are limited until the end of March 2024, by which time Germany intends to obtain gas from other supply sources. The aim of the law is to secure supplies, a government spokeswoman said. At the same time, she affirmed that the federal government would stick to its goal of phasing out coal by 2030, even if additional oil and coal-fired power plants were held in reserve in the meantime.
Key Target Audience
Natural Gas-Fired Power Generation, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.