A research study by Transparency Market Research (TMR) on the global natural gas-fired electricity generation market states that the rapid increase in the demand for energy, propelled by the growing population across the world, is the key factor driving the growth of this market.
The research report, titled “Natural Gas-Fired Electricity Generation Market - Global Industry Size, Share, Trends, Analysis, And Forecasts 2012 - 2018,” presents a comprehensive overview of the latest and upcoming market trends, driving forces, restraints and challenges, opportunities, and the market’s future projections.
Natural gas is one of the leading segments in the overall market for electricity generation owing to its eco-friendly characteristics compared to other fuels, such as coal, utilized for the production of electricity. The decline in natural gas prices owing to the emergence of a number of unconventional gas resources is also boosting the popularity of the natural gas-fired electricity generation method and consecutively driving the growth of this market.
The research report studies the global market for natural gas-fired electricity generation on the basis of its regional spread and the technology employed in power generation. On the regional basis, the market has been classified into North America, Asia Pacific, Europe, and the Rest of the World.
According to analysts, Asia Pacific and North America are likely to emerge as the most attractive regional markets for natural gas-fired power generation over the forecast period. In Asia Pacific, the governments of several countries such as India and China continuously are working to reduce their carbon footprints and are shifting towards electricity generation using clean natural gas. These factors are projected to drive the market for natural gas-fired electricity generation significantly in this region.
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Other regional markets are also anticipated to exhibit robust growth in the forthcoming years due to the growing concerns over increasing carbon footprints and the rising awareness regarding the assistance natural gas-fired electricity generation provide in keeping the environment clean, notes the market study.
Based on the technology employed in power generation, the global natural gas-fired electricity generation market has been segmented into gas-fired steam turbine plants, gas turbines, gas reciprocating engines, gas turbine cogeneration, and combined cycle in this research report.
Keston Boilers, ICS Heat Pump Technology, TEV Ltd., Mitsubishi Electric, Global Energy Systems and Technology, DeLonghi-Climaveneta, NIBE, Danfoss Heat Pumps, Earth Energy Ltd., Transen Sustainable Energy Systems Ltd., Viessmann, Ideal Boilers, and Geothermal International Ltd. are the major international companies operating in the worldwide natural gas-fired electricity generation market, states the research study.
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