The Natural Gas Fired Electricity Generation Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Natural Gas Fired Electricity Generation Market?
The market size of the natural gas fired electricity generation has seen robust growth recently. The market is projected to expand from $46.78 billion in 2024 to $49.83 billion in 2025, with a compound annual growth rate (CAGR) of 6.5%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Natural Gas Fired Electricity Generation Industry?
The Natural Gas Fired Electricity Generation Global Market is projected to reach a size of $63.58 billion by 2029, growing at a compound annual growth rate (CAGR) of 6.3%.
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What are the Key Growth Drivers Fueling the Natural Gas Fired Electricity Generation Market?
The key drivers in the natural gas fired electricity generation market are:
• Rising demand for flexible and peaking power plants
• Increasing requirement of backup power due to growing integration of renewable energy
• Amplified demand for grid stability
• The growth in carbon pricing and emission trading schemes, and higher reliability of natural gas supply chains.
Global Market Segmentation: Identifying Major Natural Gas Fired Electricity Generation Industry Segments
The natural gas fired electricity generation market covered in this report is segmented –
1) By Technology: Combined Cycle, Open Cycle, Cogeneration
2) By Power Output: Less Than 100 MW, 100-500 MW, 500-1000 MW, Above 1000 MW
3) By Fuel Source: Conventional Natural Gas, Liquefied Natural Gas, Compressed Natural Gas, Biogas
4) By Application: Base Load Generation, Peak Load Generation, Mid Load Generation, Backup Power Generation
5) By End-Use: Residential, Commercial, Industrial
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What are the Emerging Trends Shaping the Future of the Natural Gas Fired Electricity Generation Market?
The key trends in the natural gas fired electricity generation market are:
• Future developments in the market will be shaped by technological upgrades in turbine materials.
• The creation of modular gas power units is an emerging trend.
• There is a growing trend towards the use of artificial intelligence-based predictive maintenance.
• Innovation in emissions monitoring and controls, and the integration of energy storage systems, is influencing market trends.
Who Are the Top Competitors & Leading Players in the Natural Gas Fired Electricity Generation Market?
Major players in the natural gas fired electricity generation market are:
• TotalEnergies SE
• Petróleo Brasileiro S.A.
• Iberdrola SA
• RWE AG
• Siemens Energy AG
• NRG Energy Inc.
• Duke Energy Corp.
• Nextera Energy Inc.
• Exelon Corp.
• Dominion Energy Inc.
• S.N.G.N Romgaz S.A
• China Resources Holdings Co. Ltd.
• CLP Holdings Limited
• Sembcorp Industries Ltd.
• Centrais Eletricas Brasileiras SA
• Snam S.p.A
• Kawasaki Heavy Industries Ltd.
• Central Puerto S.A.
• Calpine Corporation
• Mesa Natural Gas Solutions LLC
Regional Dominance: Which Area Leads the Global Natural Gas Fired Electricity Generation Market?
North America was the largest region in the natural gas fired electricity generation market in 2024
