The Natural Gas Power Generation Technologies Market Outlook: Market overview, capacity, generation, new developments and the future outlook
Natural gas is the cleanest fossil fuel, therefore being highly preferred for electricity generation across the globe. The carbon emissions by natural gas are almost half when compared to coal. The use of natural gas for world electricity generation has grown at CAGR of 6.2% from 2002-07, highest among all fossil fuels. Current natural gas-based power generation technologies are capable to deliver better efficiencies as compared to coal based power generation technologies. Natural gas-based power generation technologies are available to cater range of power generation requirements including different loads (intermediate and peak) and different usages (stationary, backup, and distributed).
Natural gas combined cycle (NGCC) is the most prominent natural gas-based power generation technology. It is capable to deliver a net operating efficiency close to 60%. There are more than 1,000 NGCC plants operating across globe and leading NGCC manufacturers are developing the next generation NGCC technology capable to deliver the net operating efficiency of more than 60%. Natural gas fuel cell (NGFC) is an upcoming technology and mostly being implemented in portable and non-stationary usages. NGFC for stationary use is expensive as the installation cost ranges from $7,000-8,000 per kW.
The report provides insight on natural gas-based power generation technologies, recent developments and outlook. The report also highlights the use of natural gas as electricity source in major economies.
Key features of this report
• Overview of the global natural gas market with proved reserves, production, consumption and trade.
• Prominent natural gas-based power generation technologies, development, and outlook.
• Key players, drivers, and resistors for natural gas power generation technologies.
• Introduction to upcoming and hybrid natural gas based power generation technologies and outlook.
• Current electricity generation scenario of major economies highlighting the growth potential of natural gas as electricity source.
Scope of this report
• Achieve a quick and understanding of how the global natural gas market is growing.
• Attain a comprehensive understanding of prominent natural gas-based power generation technologies with respect to their driver, resistor, efficiency, and economics.
• Understand the current developments taking place in natural gas-based power generation technologies and their outlook.
• Increase awareness of the upcoming and hybrid natural gas-based power generation technologies along with their outlook.
• Understand the role of natural gas in electricity generation in world's major economies.
Key Market Issues
• High natural gas prices: Natural gas prices are relatively high and more volatile compared to coal which resist natural gas-based power generation to a large extent.
• Finite and concentrate reserves: Globally proved natural gas reserves are limited and highly concentrated. The users of natural gas are therefore significantly influenced by the proximity of reserves, distant users have to incur substantial transportation cost.
• Complex delivery process: Natural gas is delivered either by pipeline or in LNG (Liquefied natural gas) form. Both the delivery processes are either costly or complex in nature which discourages natural gas buyers.
• Not suitable for base load: Natural gas-based power generation technologies are not suitable for base loads power generation due to their overall high cost of electricity generation as compared to coal and nuclear.
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