Report ID: UCMIG55B2003
Report ID:
UCMIG55B2003 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
In 2019, the demand for natural gas-fired electricity generation in the global market reached 48,793.9 MW. It is projected to experience a compound annual growth rate (CAGR) of 4.71% from 2020 to 2027. This growth is driven by increasing concerns about environmental impact, particularly the high carbon emissions associated with coal-based power plants. Consequently, natural gas-fired power plants have emerged as a cleaner alternative for generating baseload power. Additionally, supportive regulations and policies in several major countries have contributed to the market's expansion. Many countries worldwide are actively planning to replace coal with natural gas as their primary source of power generation. Notably, the United States has witnessed a surge in natural gas production due to technological advancements in shale gas extraction methods.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Gas Utilities by segment aggregation, the contribution of the Gas Utilities in Diversified Utilities Services and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATIONWant to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
Report ID: UCMIG55B2003