Natural Gas Fired Electricity Generation Market | Leading Segments, Trends, Drivers and Challenges

Mitsubishi Heavy Industries Ltd., Siemens Energy AG, and Tokyo Electric Power Co. Holdings Inc. are among the key vendors discussed in the research report

The natural gas fired electricity generation market is expected to grow by 880.78 TWh, decelerating at a CAGR of almost 2.68% during the forecast period. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus.

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Natural Gas Fired Electricity Generation Market: Market Segments and Growth Forecasts

This research report will provide insights into the current market share of each segment along with growth projections for the next five years.

• The Natural Gas Fired Electricity Generation Market is segmented by Type (CGCT and OCGT) and Geography (North America, APAC, Europe, MEA, and South America).
• The APAC region emerged as the leading segment in recent years. 47% of the market growth will originate from APAC during the forecast period. This report provides an accurate prediction of the contribution of all the geographic segments to the growth of the Natural Gas Fired Electricity Generation Market size.

Natural Gas Fired Electricity Generation Market: Trends, Drivers, Challenges to impact growth

Our report helps market players to discover the various trends, drivers, and challenges that are likely to influence the market growth during the forecast period. These insights will provide clients with all the information they would require for designing a growth strategy for their business.

• A significant factor in driving the growth of the Natural Gas Fired Electricity Generation Market will be the increased natural gas consumption within the industrial sector.
• Another factor that will boost the market will be the increased support from government agencies.
• One of the key challenges that market players need to contend with in order to achieve further success is the rise in the adoption of renewables for electricity generation.

Natural Gas Fired Electricity Generation Market: Vendor Analysis

• The market is fragmented.
• The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
• 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. are some of the major market participants.

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Browse through some of other related market research reports for more insights:

• Natural Gas Refueling Stations Market: The Global Natural Gas Refueling Stations Market is projected to grow by 8532.48 units, accelerating at a CAGR of 4.41% till 2025.
• Liquefied Natural Gas (LNG) Market: The liquefied natural gas (LNG) market is expected to grow by $ 14.36 billion, accelerating at a CAGR of 5.73% during the forecast period.
• Floating Liquefied Natural Gas: The Floating Liquefied Natural Gas (FLNG) Market is projected to post an incremental growth of $ 4.68 billion, at a CAGR of 6.12% till 2025.
• Natural Gas Refueling Stations Market: The Global Natural Gas Refueling Stations Market is projected to grow by 8532.48 units, accelerating at a CAGR of 4.41% till 2025.
• Global Compressed Natural Gas (CNG) Market: Compressed natural gas (CNG) market is set to post an incremental growth of $ 6.92 billion, accelerating at a CAGR of 6.20% during the forecast period.

The report provides insights into the following FAQs:

1. What is the market CAGR?
   The market will decelerate at a CAGR of 2.68%.
    
2. What is the incremental growth of the market?
   The market is expected to grow by 880.78 TWh through 2021-2025.
    
3. What is a key factor driving this market?
   Increased natural gas consumption in the industrial sector will drive market growth over the forecast period.
    
4. What are the key regions covered in this market research report?
   North America, APAC, Europe, MEA, and South America are the key regions featured in this research report.
    
5. Which is the leading geographic region for this market:
   47% growth will originate from APAC
    
6. Who are the leading market vendors?
   The leading vendors in this market are 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.
    
7. What are the market segments covered in this report?
   The market is segmented by Type (CGCT and OCGT) and Geography (North America, APAC, Europe, MEA, and South America)