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Natural Gas Fired Electricity Generation Market Size, Share & Trends Analysis Report By Technology (Open Cycle, Combined Cycle), By Application (Power & Utility, Industrial), By Region, And Segment Forecasts, 2025 - 2030

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    Report

  • 100 Pages
  • January 2025
  • Region: Global
  • Grand View Research
  • ID: 6052258
Description Jump to:
The global natural gas fired electricity generation market demand is expected to reach 64.12 billion by 2030, expanding at a CAGR of 5.4% from 2025 to 2030. Rising government support, growing energy demand across the world, and a rise in natural gas production are various factors boosting industry growth.

Worldwide power demand is rapidly growing owing to strong economic growth in some of the major countries globally. Furthermore, the growth was powered by countries, such as the U.S., China, Japan, and India, which account for a dominating share in the world’s energy demand. Countries are looking to opt for natural gas as a power generation source over coal owing to fewer carbon emissions being emitted by natural gas.

Industry participants are entering into various strategic collaborations with the governments of some of the countries to aid them to renovate and modernize the power sector of the respective countries. Furthermore, vendors are utilizing joint ventures and mergers and acquisitions in order to develop advanced technologies and expand their foothold across various regional markets.

However, the production of natural gas is concentrated in a few countries, which results in the risk of gas supply disruptions owing to geopolitical tensions, eventually affecting trade and supply of natural gas. Furthermore, the rise in adoption of renewable energy technologies is estimated to hamper the growth of the market in the forecast period.

Natural Gas Fired Electricity Generation Market Report Highlights

  • Combined cycle technology emerged as the dominating segment in 2024 and is expected to maintain its lead over the forecast period owing to its higher overall efficiency and lower fuel requirement as compared to open cycle technology
  • Power and utility emerged as the largest end-use segment in 2024 owing to a number of natural gas fired electricity generation power plants under pipeline to fulfill the growing demand from power in their region of operation
  • North America held a significant revenue share in the market in 2024 owing to the rise in production and availability of natural gas in the region
  • The Asia Pacific is expected to expand at the fastest growth rate over the forecast period. China, Japan, and Thailand are expected to contribute significantly to the growth of the market in the region

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Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Insights
2.2. Segmental Outlook
2.3. Competitive Outlook
Chapter 3. Natural Gas Fired Electricity Generation Market Variables, Trends & Scope
3.1. Global Natural Gas Fired Electricity Generation Market Outlook
3.2. Industry Value Chain Analysis
3.3. Average Price Trend Analysis
3.4. Supply-Demand Gap Analysis, 2024
3.5. Regulatory Framework
3.5.1. Policies and Incentive Plans
3.5.2. Standards and Compliances
3.5.3. Regulatory Impact Analysis
3.6. Market Dynamics
3.6.1. Market Driver Analysis
3.6.2. Market Restraint Analysis
3.6.3. Industry Challenges
3.7. Porter’s Five Forces Analysis
3.7.1. Supplier Power
3.7.2. Buyer Power
3.7.3. Substitution Threat
3.7.4. Threat from New Entrant
3.7.5. Competitive Rivalry
3.8. PESTEL Analysis
3.8.1. Political Landscape
3.8.2. Economic Landscape
3.8.3. Social Landscape
3.8.4. Technological Landscape
3.8.5. Environmental Landscape
3.8.6. Legal Landscape
Chapter 4. Natural Gas Fired Electricity Generation Market: Technology Outlook Estimates & Forecasts
4.1. Natural Gas Fired Electricity Generation Market: Technology Movement Analysis, 2024 & 2030
4.1.1. Open Cycle
4.1.1.1. Market Estimates and Forecast, 2018 - 2030 (MW) (USD Million)
4.1.2. Combined Cycle
4.1.2.1. Market Estimates and Forecast, 2018 - 2030 (MW) (USD Million)
Chapter 5. Natural Gas Fired Electricity Generation Market: Application Outlook Estimates & Forecasts
5.1. Natural Gas Fired Electricity Generation Market: Application Movement Analysis, 2024 & 2030
5.1.1. Power & Utility
5.1.1.1. Market Estimates and Forecast, 2018 - 2030 (MW) (USD Million)
5.1.2. Industrial
5.1.2.1. Market Estimates and Forecast, 2018 - 2030 (MW) (USD Million)
Chapter 6. Natural Gas Fired Electricity Generation Market Regional Outlook Estimates & Forecasts
6.1. Regional Snapshot
6.2. Natural Gas Fired Electricity Generation Market: Regional Movement Analysis, 2024 & 2030
6.3. North America
6.3.1. Market Estimates and Forecast, 2018 - 2030 (MW) (USD Million)
6.3.2. Market Estimates and Forecast, By Technology, 2018 - 2030 (MW) (USD Million)
6.3.3. Market Estimates and Forecast, By Application, 2018 - 2030 (MW) (USD Million)
6.3.4. U.S.
6.3.4.1. Market Estimates and Forecast, 2018 - 2030 (MW) (USD Million)
6.3.4.2. Market Estimates and Forecast, By Technology, 2018 - 2030 (MW) (USD Million)
6.3.4.3. Market Estimates and Forecast, By Application, 2018 - 2030 (MW) (USD Million)
6.4. Europe
6.4.1. Market Estimates and Forecast, 2018 - 2030 (MW) (USD Million)
6.4.2. Market Estimates and Forecast, By Technology, 2018 - 2030 (MW) (USD Million)
6.4.3. Market Estimates and Forecast, By Application, 2018 - 2030 (MW) (USD Million)
6.4.4. Russia
6.4.4.1. Market Estimates and Forecast, 2018 - 2030 (MW) (USD Million)
6.4.4.2. Market Estimates and Forecast, By Technology, 2018 - 2030 (MW) (USD Million)
6.4.4.3. Market Estimates and Forecast, By Application, 2018 - 2030 (MW) (USD Million)
6.5. Asia Pacific
6.5.1. Market Estimates and Forecast, 2018 - 2030 (MW) (USD Million)
6.5.2. Market Estimates and Forecast, By Technology, 2018 - 2030 (MW) (USD Million)
6.5.3. Market Estimates and Forecast, By Application, 2018 - 2030 (MW) (USD Million)
6.5.4. China
6.5.4.1. Market Estimates and Forecast, 2018 - 2030 (MW) (USD Million)
6.5.4.2. Market Estimates and Forecast, By Technology, 2018 - 2030 (MW) (USD Million)
6.5.4.3. Market Estimates and Forecast, By Application, 2018 - 2030 (MW) (USD Million)
6.5.5. India
6.5.5.1. Market Estimates and Forecast, 2018 - 2030 (MW) (USD Million)
6.5.5.2. Market Estimates and Forecast, By Technology, 2018 - 2030 (MW) (USD Million)
6.5.5.3. Market Estimates and Forecast, By Application, 2018 - 2030 (MW) (USD Million)
6.5.6. Japan
6.5.6.1. Market Estimates and Forecast, 2018 - 2030 (MW) (USD Million)
6.5.6.2. Market Estimates and Forecast, By Technology, 2018 - 2030 (MW) (USD Million)
6.5.6.3. Market Estimates and Forecast, By Application, 2018 - 2030 (MW) (USD Million)
6.5.7. Thailand
6.5.7.1. Market Estimates and Forecast, 2018 - 2030 (MW) (USD Million)
6.5.7.2. Market Estimates and Forecast, By Technology, 2018 - 2030 (MW) (USD Million)
6.5.7.3. Market Estimates and Forecast, By Application, 2018 - 2030 (MW) (USD Million)
6.6. Latin America
6.6.1. Market Estimates and Forecast, 2018 - 2030 (MW) (USD Million)
6.6.2. Market Estimates and Forecast, By Technology, 2018 - 2030 (MW) (USD Million)
6.6.3. Market Estimates and Forecast, By Application, 2018 - 2030 (MW) (USD Million)
6.7. Middle East & Africa
6.7.1. Market Estimates and Forecast, 2018 - 2030 (MW) (USD Million)
6.7.2. Market Estimates and Forecast, By Technology, 2018 - 2030 (MW) (USD Million)
6.7.3. Market Estimates and Forecast, By Application, 2018 - 2030 (MW) (USD Million)
6.7.4. Saudi Arabia
6.7.4.1. Market Estimates and Forecast, 2018 - 2030 (MW) (USD Million)
6.7.4.2. Market Estimates and Forecast, By Technology, 2018 - 2030 (MW) (USD Million)
6.7.4.3. Market Estimates and Forecast, By Application, 2018 - 2030 (MW) (USD Million)
6.7.5. Iraq
6.7.5.1. Market Estimates and Forecast, 2018 - 2030 (MW) (USD Million)
6.7.5.2. Market Estimates and Forecast, By Technology, 2018 - 2030 (MW) (USD Million)
6.7.5.3. Market Estimates and Forecast, By Application, 2018 - 2030 (MW) (USD Million)
Chapter 7. Competitive Landscape
7.1. Recent Developments & Impact Analysis, By Key Market Participants
7.2. Vendor Landscape
7.2.1. Company Categorization
7.2.2. List of Key Distributors and Channel Partners
7.2.3. List of Potential Customers/End Users
7.3. Competitive Dynamics
7.3.1. Competitive Benchmarking
7.3.2. Strategy Mapping
7.3.3. Heat Map Analysis
7.4. Company Profiles/Listing
7.4.1. General Electric
7.4.1.1. Participant’s Overview
7.4.1.2. Financial Performance
7.4.1.3. Product Benchmarking
7.4.1.4. Strategic Initiatives
7.4.2. Siemens AG
7.4.2.1. Participant’s Overview
7.4.2.2. Financial Performance
7.4.2.3. Product Benchmarking
7.4.2.4. Strategic Initiatives
7.4.3. Mitsubishi Hitachi Power Systems, Ltd.
7.4.3.1. Participant’s Overview
7.4.3.2. Financial Performance
7.4.3.3. Product Benchmarking
7.4.3.4. Strategic Initiatives
7.4.4. Kawasaki Heavy Industries, Ltd.
7.4.4.1. Participant’s Overview
7.4.4.2. Financial Performance
7.4.4.3. Product Benchmarking
7.4.4.4. Strategic Initiatives
7.4.5. Ansaldo Energia S.P.A.
7.4.5.1. Participant’s Overview
7.4.5.2. Financial Performance
7.4.5.3. Product Benchmarking
7.4.5.4. Strategic Initiatives
7.4.6. Bharat Heavy Electricals Limited
7.4.6.1. Participant’s Overview
7.4.6.2. Financial Performance
7.4.6.3. Product Benchmarking
7.4.6.4. Strategic Initiatives
7.4.7. Opra Turbines B.V.
7.4.7.1. Participant’s Overview
7.4.7.2. Financial Performance
7.4.7.3. Product Benchmarking
7.4.7.4. Strategic Initiatives
7.4.8. Man Energy Solutions
7.4.8.1. Participant’s Overview
7.4.8.2. Financial Performance
7.4.8.3. Product Benchmarking
7.4.8.4. Strategic Initiatives
7.4.9. Centrax Gas Turbines
7.4.9.1. Participant’s Overview
7.4.9.2. Financial Performance
7.4.9.3. Product Benchmarking
7.4.9.4. Strategic Initiatives
List of Tables
Table 1. List of Abbreviations
Table 2. Natural Gas Fired Electricity Generation Market Estimates and Forecasts, By Technology, 2018 - 2030 (MW) (USD Million)
Table 3. Natural Gas Fired Electricity Generation Market Estimates and Forecasts, By Application, 2018 - 2030 (MW) (USD Million)
Table 4. Natural Gas Fired Electricity Generation Market Estimates and Forecasts, By Region, 2018 - 2030 (MW) (USD Million)
Table 5. North America Natural Gas Fired Electricity Generation Market Estimates and Forecasts, By Country, 2018 - 2030 (MW) (USD Million)
Table 6. North America Natural Gas Fired Electricity Generation Market Estimates and Forecasts, By Technology, 2018 - 2030 (MW) (USD Million)
Table 7. North America Natural Gas Fired Electricity Generation Market Estimates and Forecasts, By Application, 2018 - 2030 (MW) (USD Million)
Table 8. U.S. Natural Gas Fired Electricity Generation Market Estimates and Forecasts, By Technology, 2018 - 2030 (MW) (USD Million)
Table 9. U.S. Natural Gas Fired Electricity Generation Market Estimates and Forecasts, By Application, 2018 - 2030 (MW) (USD Million)
Table 10. Europe Natural Gas Fired Electricity Generation Market Estimates and Forecasts, By Country, 2018 - 2030 (MW) (USD Million)
Table 11. Europe Natural Gas Fired Electricity Generation Market Estimates and Forecasts, By Technology, 2018 - 2030 (MW) (USD Million)
Table 12. Europe Natural Gas Fired Electricity Generation Market Estimates and Forecasts, By Application, 2018 - 2030 (MW) (USD Million)
Table 13. Russia Natural Gas Fired Electricity Generation Market Estimates and Forecasts, By Technology, 2018 - 2030 (MW) (USD Million)
Table 14. Russia Natural Gas Fired Electricity Generation Market Estimates and Forecasts, By Application, 2018 - 2030 (MW) (USD Million)
Table 15. Asia Pacific Natural Gas Fired Electricity Generation Market Estimates and Forecasts, By Country, 2018 - 2030 (MW) (USD Million)
Table 16. Asia Pacific Natural Gas Fired Electricity Generation Market Estimates and Forecasts, By Technology, 2018 - 2030 (MW) (USD Million)
Table 17. Asia Pacific Natural Gas Fired Electricity Generation Market Estimates and Forecasts, By Application, 2018 - 2030 (MW) (USD Million)
Table 18. China Natural Gas Fired Electricity Generation Market Estimates and Forecasts, By Technology, 2018 - 2030 (MW) (USD Million)
Table 19. China Natural Gas Fired Electricity Generation Market Estimates and Forecasts, By Application, 2018 - 2030 (MW) (USD Million)
Table 20. India Natural Gas Fired Electricity Generation Market Estimates and Forecasts, By Technology, 2018 - 2030 (MW) (USD Million)
Table 21. India Natural Gas Fired Electricity Generation Market Estimates and Forecasts, By Application, 2018 - 2030 (MW) (USD Million)
Table 22. Japan Natural Gas Fired Electricity Generation Market Estimates and Forecasts, By Technology, 2018 - 2030 (MW) (USD Million)
Table 23. Japan Natural Gas Fired Electricity Generation Market Estimates and Forecasts, By Application, 2018 - 2030 (MW) (USD Million)
Table 24. Thailand Natural Gas Fired Electricity Generation Market Estimates and Forecasts, By Technology, 2018 - 2030 (MW) (USD Million)
Table 25. Thailand Natural Gas Fired Electricity Generation Market Estimates and Forecasts, By Application, 2018 - 2030 (MW) (USD Million)
Table 26. Latin America Natural Gas Fired Electricity Generation Market Estimates and Forecasts, By Country, 2018 - 2030 (MW) (USD Million)
Table 27. Latin America Natural Gas Fired Electricity Generation Market Estimates and Forecasts, By Technology, 2018 - 2030 (MW) (USD Million)
Table 28. Latin America Natural Gas Fired Electricity Generation Market Estimates and Forecasts, By Application, 2018 - 2030 (MW) (USD Million)
Table 29. Middle East & Africa Natural Gas Fired Electricity Generation Market Estimates and Forecasts, By Country, 2018 - 2030 (MW) (USD Million)
Table 30. Middle East & Africa Natural Gas Fired Electricity Generation Market Estimates and Forecasts, By Technology, 2018 - 2030 (MW) (USD Million)
Table 31. Middle East & Africa Natural Gas Fired Electricity Generation Market Estimates and Forecasts, By Application, 2018 - 2030 (MW) (USD Million)
Table 32. Saudi Arabia Natural Gas Fired Electricity Generation Market Estimates and Forecasts, By Technology, 2018 - 2030 (MW) (USD Million)
Table 33. Saudi Arabia Natural Gas Fired Electricity Generation Market Estimates and Forecasts, By Application, 2018 - 2030 (MW) (USD Million)
Table 34. Iraq Natural Gas Fired Electricity Generation Market Estimates and Forecasts, By Technology, 2018 - 2030 (MW) (USD Million)
Table 35. Iraq Natural Gas Fired Electricity Generation Market Estimates and Forecasts, By Application, 2018 - 2030 (MW) (USD Million)
List of Figures
Fig. 1 Market Segmentation
Fig. 2 Information Procurement
Fig. 3 Data Analysis Models
Fig. 4 Market Formulation and Validation
Fig. 5 Market Snapshot
Fig. 6 Segmental Outlook- Technology, Application, and Region
Fig. 7 Competitive Outlook
Fig. 8 Value Chain Analysis
Fig. 9 Market Dynamics
Fig. 10 Porter’s Analysis
Fig. 11 PESTEL analysis
Fig. 12 Natural Gas Fired Electricity Generation Market, By Technology: Key Takeaways
Fig. 13 Natural Gas Fired Electricity Generation Market, By Technology: Market Share, 2024 & 2030
Fig. 14 Open Cycle Market, 2018 - 2030 (MW) (USD Million)
Fig. 15 Combined Cycle Market, 2018 - 2030 (MW) (USD Million)
Fig. 16 Natural Gas Fired Electricity Generation Market, By Application: Key Takeaways
Fig. 17 Natural Gas Fired Electricity Generation Market, By Application: Market Share, 2024 & 2030
Fig. 18 Power & Utility Market, 2018 - 2030 (MW) (USD Million)
Fig. 19 Industrial Market, 2018 - 2030 (MW) (USD Million)
Fig. 20 Natural Gas Fired Electricity Generation Market, By Region: Key Takeaways
Fig. 21 Natural Gas Fired Electricity Generation Market, By Region: Market Share, 2024 & 2030
Fig. 22 North America Natural Gas Fired Electricity Generation Market, 2018 - 2030 (MW) (USD Million)
Fig. 23 US Natural Gas Fired Electricity Generation Market, 2018 - 2030 (MW) (USD Million)
Fig. 24 Europe Natural Gas Fired Electricity Generation Market, 2018 - 2030 (MW) (USD Million)
Fig. 25 Russia Natural Gas Fired Electricity Generation Market, 2018 - 2030 (MW) (USD Million)
Fig. 26 Asia Pacific Natural Gas Fired Electricity Generation Market, 2018 - 2030 (MW) (USD Million)
Fig. 27 China Natural Gas Fired Electricity Generation Market, 2018 - 2030 (MW) (USD Million)
Fig. 28 India Natural Gas Fired Electricity Generation Market, 2018 - 2030 (MW) (USD Million)
Fig. 29 Japan Natural Gas Fired Electricity Generation Market, 2018 - 2030 (MW) (USD Million)
Fig. 30 Thailand Natural Gas Fired Electricity Generation Market, 2018 - 2030 (MW) (USD Million)
Fig. 31 Latin America Natural Gas Fired Electricity Generation Market, 2018 - 2030 (MW) (USD Million)
Fig. 32 Middle East and Africa Natural Gas Fired Electricity Generation Market, 2018 - 2030 (MW) (USD Million)
Fig. 33 Saudi Arabia Natural Gas Fired Electricity Generation Market, 2018 - 2030 (MW) (USD Million)
Fig. 34 Iraq Natural Gas Fired Electricity Generation Market, 2018 - 2030 (MW) (USD Million)

Companies Mentioned

  • General Electric
  • Siemens AG
  • Mitsubishi Hitachi Power Systems, Ltd.
  • Kawasaki Heavy Industries, Ltd.
  • Ansaldo Energia S.P.A.
  • Bharat Heavy Electricals Limited
  • Opra Turbines B.V.
  • Man Energy Solutions
  • Centrax Gas Turbines

Methodology

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Table Information

Report AttributeDetails
No. of Pages100
PublishedJanuary 2025
Forecast Period2024 - 2030
Estimated Market Value ( USD ) in 2024 $ 46.41 Billion
Forecasted Market Value ( USD ) by 2030 $ 64.12 Billion
Compound Annual Growth Rate5.4%
Regions CoveredGlobal
No. of Companies Mentioned9

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