Natural Gas Fired Electricity Generation Market: Trends, Insights, and Forecast 2020 - 2027
The global natural gas fired electricity generation market demand is expected to reach 70,500.0 MW by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.71% from 2020 to 2027. 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 ...