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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Natural Gas Fired Electricity Generation Market Growth & Trends
The global natural gas fired electricity generation market demand is expected t%li%reach 64.12 billion by 2030, according t%li%a new report by Grand View Research, Inc., expanding at a CAGR of 5.4% from 2025 t%li%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 t%li%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 t%li%opt for natural gas as a power generation source over coal owing t%li%fewer carbon emissions being emitted by natural gas.
Industry participants are entering int%li%various strategic collaborations with the governments of some of the countries t%li%aid them t%li%renovate and modernize the power sector of the respective countries. Furthermore, vendors are utilizing joint ventures and mergers and acquisitions in order t%li%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 t%li%geopolitical tensions, eventually affecting trade and supply of natural gas. Furthermore, the rise in adoption of renewable energy technologies is estimated t%li%hamper the growth of the market in the forecast period.
Natural Gas Fired Electricity Generation Market Report Highlights
Natural Gas Fired Electricity Generation Market Growth & Trends
The global natural gas fired electricity generation market demand is expected t%li%reach 64.12 billion by 2030, according t%li%a new report by Grand View Research, Inc., expanding at a CAGR of 5.4% from 2025 t%li%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 t%li%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 t%li%opt for natural gas as a power generation source over coal owing t%li%fewer carbon emissions being emitted by natural gas.
Industry participants are entering int%li%various strategic collaborations with the governments of some of the countries t%li%aid them t%li%renovate and modernize the power sector of the respective countries. Furthermore, vendors are utilizing joint ventures and mergers and acquisitions in order t%li%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 t%li%geopolitical tensions, eventually affecting trade and supply of natural gas. Furthermore, the rise in adoption of renewable energy technologies is estimated t%li%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 t%li%maintain its lead over the forecast period owing t%li%its higher overall efficiency and lower fuel requirement as compared t%li%open cycle technology
- Power and utility emerged as the largest end-use segment in 2024 owing t%li%a number of natural gas fired electricity generation power plants under pipeline t%li%fulfill the growing demand from power in their region of operation
- North America held a significant revenue share in the market in 2024 owing t%li%the rise in production and availability of natural gas in the region
- The Asia Pacific is expected t%li%expand at the fastest growth rate over the forecast period. China, Japan, and Thailand are expected t%li%contribute significantly t%li%the growth of the market in the region
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. GVR’s 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
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR’s 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
