Summary
The global natural gas power generation market is expected to grow from USD 96.95 billion in 2025 to USD 122.49 billion in 2030, with a CAGR of 4.8%. The natural gas power generation market is driven by the increasing global demand for cleaner and more flexible energy sources. Rapid urbanization and industrialization are boosting electricity consumption, particularly in emerging economies. The relatively lower carbon emissions of natural gas compared to coal make it a preferred transition fuel amid tightening environmental regulations. Advancements in combined cycle and open cycle technologies enhance efficiency and reduce operational costs. Additionally, natural gas power plants offer grid stability and quick ramp-up capabilities, supporting the integration of intermittent renewable energy sources. Rising LNG trade further improves fuel accessibility.
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“By fuel source, the pipeline natural gas segment is expected to remain the largest segment during the forecast period.”
By fuel source, the pipeline natural gas segment is projected to remain the largest segment in the natural gas power generation market throughout the forecast period. Pipeline natural gas offers a reliable, continuous, and cost-effective fuel supply for power plants, supporting stable electricity generation. Its well-established infrastructure, including extensive pipelines and distribution networks, ensures seamless delivery to both centralized and decentralized power generation facilities. Additionally, pipeline natural gas is favored for its lower carbon emissions compared to other fossil fuels, aligning with global energy transition goals and regulatory frameworks targeting cleaner energy sources. Growing industrialization, urbanization, and rising electricity demand in key regions further drive the adoption of pipeline natural gas. Moreover, ongoing investments in pipeline infrastructure and expansion projects reinforce its dominance in the market, maintaining its position as the preferred fuel source.
“By end-use application, power utilities is projected to be the most lucrative segment of the natural gas power generation market during the forecast period.”
By end user, the power utilities segment is projected to be the most lucrative in the natural gas power generation market during the forecast period. Power utilities primarily operate large-scale natural gas power plants that provide consistent and reliable electricity to meet growing residential, commercial, and industrial demand. The segment benefits from economies of scale, established infrastructure, and regulatory support promoting cleaner energy sources. Increasing electricity demand, coupled with the need to reduce carbon emissions, drives utilities to adopt natural gas as a key fuel. Additionally, ongoing investments in grid modernization and expansion projects further strengthen the dominance of power utilities in the market, making them the leading end-user segment throughout the forecast period.
“By region, Middle East & Africa is expected to be the second-largest region in the natural gas power generation market during the forecast period.”
The Middle East & Africa is emerging as the second-largest region in the natural gas power generation market, driven by abundant natural gas reserves and growing energy demand across industrial and urban sectors. Rapid economic development and urbanization in countries such as Saudi Arabia, the UAE, and South Africa are fueling the need for reliable and cleaner power sources. Governments are increasingly investing in natural gas infrastructure, including combined cycle plants and LNG terminals, to reduce dependence on oil and enhance energy security. Additionally, favorable regulatory frameworks and incentives for cleaner energy adoption encourage utilities and independent power producers to expand natural gas capacity. The region’s strategic focus on energy diversification and integration of gas-fired plants with renewable energy further strengthens market growth.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information and assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1- 30%, Tier 2- 55%, and Tier 3- 15%
By Designation: C-Level Executives - 30%, Directors- 20%, and Others- 50%
By Region: North America- 20%, Europe- 8%, Asia Pacific- 55%, Middle East & Africa- 13%, and South America- 4%
Note: Others include product engineers, product specialists, and engineering leads.
Note: The tiers of the companies are defined based on their total revenues as of 2023. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million
The natural gas power generation market is dominated by a few major players that have a wide regional presence. The leading players in the natural gas power generation market are GE Vernova (US), Siemens Energy (Germany), Tecogen, Inc. (US), Destinus Energy (US), Bechtel Corporation (US), Fluor Corporation (US), Worley (Australia), MITSUBISHI HEAVY INDUSTRIES, LTD. (Japan), Caterpillar Inc. (US), W?rtsil? (Finland), McDermott (US) and Clarke Energy (UK), among others.
Study Coverage:
The report defines, describes, and forecasts the natural gas power generation market by technology, fuel source, power output, and end user. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in natural gas power generation market.
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Key Benefits of Buying the Report
? The natural gas power generation market is driven by the global transition toward cleaner and more flexible energy sources, particularly as countries aim to reduce carbon emissions while ensuring a reliable electricity supply. Natural gas offers a lower-emission alternative to coal and oil, making it ideal for meeting growing power demand in industrial, commercial, and residential sectors. Its fast ramp-up capabilities support grid stability and the integration of intermittent renewable energy sources such as solar and wind. Supportive government policies, emission regulations, and incentives for cleaner fuels are encouraging investment in gas-fired power plants. Technological advancements in combined cycle, open cycle, and LNG infrastructure are enhancing efficiency, reducing operational costs, and improving energy security. With the rising need for sustainable and reliable power, natural gas remains a crucial bridge fuel in the global energy transition.
? Product Development/Innovation: The natural gas power generation market is advancing through technological innovations aimed at improving efficiency, flexibility, and environmental performance. Companies are focusing on combined cycle and open cycle advancements that maximize energy output while reducing fuel consumption and emissions. Innovations in turbine design, heat recovery systems, and combustion technologies are enhancing operational efficiency and lowering greenhouse gas intensity. Modular and scalable gas-fired power plants enable faster deployment and flexible integration with renewable energy sources. Digitalization, including real-time monitoring, predictive maintenance, and smart grid integration, is optimizing plant performance and reliability. Additionally, developments in carbon capture, hydrogen blending, and co-firing strategies are further reducing the environmental footprint of natural gas power generation, making it a key transitional technology in the global shift toward sustainable energy.
? Market Development: In September 2025, Electricity Supply Board (ESB) of Ireland and GE Vernova partnered on a major life extension and modernization project for the Dublin Bay power plant to boost performance, reliability, output, and support Ireland’s Net Zero 2040 targets. Under a new service agreement, GE Vernova will deploy its GT26 High Efficiency (HE) upgrade, SEMIPOL technology for Static Excitation Equipment (SEE), and Startup Frequency Converter (SFC). The project, scheduled for completion in 2026, will modernize the facility, which was commissioned in 2002 and currently produces up to 415 MW with a single-shaft GT26 gas turbine.
? Market Diversification: In August 2025, GE Vernova will invest in its Quebec factories at Sorel-Tracy (hydropower) and La Prairie (grid) sites. The move aligns with Hydro-Qu?bec’s USD 200 billion 2035 Action Plan, including USD 150 billion in capital expansion to upgrade the grid, boost hydropower and wind capacity, and modernize infrastructure. GE Vernova’s expansion aims to strengthen energy resilience, meet customer needs, and support long-term energy security.
? Competitive Assessment: Assessment of rankings of some of the key players, including of GE Vernova (US), Siemens Energy (Germany), Tecogen, Inc. (US), Destinus Energy (US), Bechtel Corporation (US), Fluor Corporation (US), Worley (Australia), MITSUBISHI HEAVY INDUSTRIES, LTD. (Japan), Caterpillar Inc. (US), W?rtsil? (Finland), McDermott (US) and Clarke Energy (UK), among others.
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Table of Contents
1 INTRODUCTION 24
1.1 STUDY OBJECTIVES 24
1.2 MARKET DEFINITION 24
1.3 STUDY SCOPE 25
1.3.1 MARKETS COVERED AND REGIONAL SCOPE 25
1.3.2 INCLUSIONS AND EXCLUSIONS 26
1.3.3 YEARS CONSIDERED 27
1.4 CURRENCY CONSIDERED 27
1.5 UNIT CONSIDERED 28
1.6 LIMITATIONS 28
1.7 STAKEHOLDERS 28
2 RESEARCH METHODOLOGY 29
2.1 RESEARCH DATA 29
2.1.1 SECONDARY DATA 30
2.1.1.1 List of key secondary sources 30
2.1.1.2 Key data from secondary sources 30
2.1.2 PRIMARY DATA 31
2.1.2.1 List of primary interview participants 31
2.1.2.2 Key industry insights 31
2.1.2.3 Key data from primary sources 32
2.1.2.4 Breakdown of primaries 32
2.2 MARKET SIZE ESTIMATION 34
2.2.1 BOTTOM-UP APPROACH 34
2.2.1.1 Regional analysis 35
2.2.1.2 Country analysis 36
2.2.1.3 Demand-side assumptions 36
2.2.1.4 Demand-side calculations 36
2.2.2 TOP-DOWN APPROACH 37
2.2.2.1 Supply-side assumptions 39
2.2.2.2 Supply-side calculations 39
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 39
2.4 FORECAST 40
2.5 RESEARCH ASSUMPTIONS 40
2.6 RISK ANALYSIS 40
2.7 RESEARCH LIMITATIONS 40
3 EXECUTIVE SUMMARY 41
4 PREMIUM INSIGHTS 45
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN NATURAL GAS POWER
GENERATION MARKET 45
4.2 NATURAL GAS POWER GENERATION MARKET, BY REGION 46
4.3 NATURAL GAS POWER GENERATION MARKET, BY FUEL TECHNOLOGY 46
4.4 NATURAL GAS POWER GENERATION MARKET, BY FUEL SOURCE 47
4.5 NATURAL GAS POWER GENERATION MARKET, BY POWER OUTPUT 47
4.6 NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION 48
4.7 NATURAL GAS POWER GENERATION MARKET IN ASIA PACIFIC, BY FUEL SOURCE
AND COUNTRY 49
5 MARKET OVERVIEW 50
5.1 INTRODUCTION 50
5.2 MARKET DYNAMICS 50
5.2.1 DRIVERS 51
5.2.1.1 Shift from coal to cleaner energy alternatives 51
5.2.1.2 High efficiency of combined-cycle gas turbines 52
5.2.1.3 Expanding gas-fired capacity 52
5.2.2 RESTRAINTS 53
5.2.2.1 Volatile price of natural gas 53
5.2.2.2 High infrastructure costs 53
5.2.2.3 Alternative cheaper clean energy technologies 54
5.2.3 OPPORTUNITIES 54
5.2.3.1 Emphasis on securing sustainable energy future 54
5.2.3.2 Expansion of LNG infrastructure 55
5.2.3.3 Ongoing technological advancements in CCUS 55
5.2.4 CHALLENGES 56
5.2.4.1 Global commitments to achieve net-zero emissions 56
5.2.4.2 Fuel-related security challenges due to import reliance 56
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 57
5.4 SUPPLY CHAIN ANALYSIS 58
5.5 ECOSYSTEM ANALYSIS 60
5.6 TECHNOLOGY ANALYSIS 61
5.6.1 KEY TECHNOLOGIES 61
5.6.1.1 Carbon capture, utilization, and storage (CCUS) for gas plants 61
5.6.1.2 Hybrid power plants 62
5.6.2 ADJACENT TECHNOLOGIES 62
5.6.2.1 Natural gas pipeline & distribution infrastructure 62
5.6.2.2 Reciprocating engines 62
5.6.3 COMPLEMENTARY TECHNOLOGIES 63
5.6.3.1 Smart grids 63
5.6.3.2 Energy management systems 63
5.7 CASE STUDY ANALYSIS 63
5.7.1 REAL-TIME AND AI-ENABLED MONITORING OF STEAM SYSTEM FAULTS DELIVERS COST SAVINGS AND PREDICTIVE MAINTENANCE 63
5.7.2 ADVANCED GRID-BALANCING ASSETS ENHANCE FLEXIBILITY AND DECARBONIZATION IN CALIFORNIA’S GRID INFRASTRUCTURE 64
5.7.3 SCE HYBRID PLANT COMBINES BATTERY STORAGE AND PEAKER TURBINE FOR GRID FLEXIBILITY AND EMISSIONS REDUCTION 64
5.8 PATENT ANALYSIS 65
5.9 KEY CONFERENCES AND EVENTS, 2025?2026 67
5.10 PRICING ANALYSIS 68
5.10.1 INDICATIVE CAPITAL EXPENDITURE ON NATURAL GAS POWER PLANTS,
BY POWER OUTPUT, 2024 68
5.10.2 AVERAGE CAPITAL EXPENDITURE ON NATURAL GAS POWER PLANTS,
BY REGION, 2022?2024 69
5.11 TRADE ANALYSIS 70
5.11.1 IMPORT DATA (HS CODE 8411) 70
5.11.2 EXPORT DATA (HS CODE 8411) 71
5.12 TARIFF AND REGULATORY LANDSCAPE 72
5.12.1 TARIFF ANALYSIS 72
5.12.2 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 73
5.12.3 REGULATIONS 77
5.13 PORTER'S FIVE FORCES ANALYSIS 81
5.13.1 THREAT OF NEW ENTRANTS 82
5.13.2 THREAT OF SUBSTITUTES 82
5.13.3 BARGAINING POWER OF SUPPLIERS 82
5.13.4 BARGAINING POWER OF BUYERS 83
5.13.5 INTENSITY OF COMPETITIVE RIVALRY 83
5.14 KEY STAKEHOLDERS AND BUYING CRITERIA 83
5.14.1 KEY STAKEHOLDERS IN BUYING PROCESS 83
5.14.2 BUYING CRITERIA 84
5.15 INVESTMENT AND FUNDING SCENARIO 85
5.16 IMPACT OF AI/GEN AI ON NATURAL GAS POWER GENERATION MARKET 86
5.16.1 ADOPTION OF AI/GEN AI IN NATURAL GAS POWER GENERATION END-USE APPLICATIONS 86
5.16.2 IMPACT OF AI/GEN AI ON NATURAL GAS POWER GENERATION SUPPLY CHAIN, BY REGION 86
5.17 GLOBAL MACROECONOMIC OUTLOOK 87
5.17.1 INTRODUCTION 87
5.17.2 FOCUS ON CARBON-NEUTRAL MOBILITY AND INDUSTRY 87
5.17.3 TECHNOLOGICAL ADVANCEMENTS 88
5.17.4 FINANCING AND GOVERNMENT POLICY SUPPORT 88
5.17.5 HIGH CAPEX AMID INFLATION 88
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5.18 IMPACT OF 2025 US TARIFF ON NATURAL GAS POWER GENERATION MARKET 88
5.18.1 INTRODUCTION 88
5.18.2 KEY TARIFF RATES 89
5.18.3 PRICE IMPACT ANALYSIS 90
5.18.4 IMPACT ON COUNTRIES/REGIONS 90
5.18.4.1 US 90
5.18.4.2 Europe 91
5.18.4.3 Asia Pacific 92
5.18.5 IMPACT ON IMPORTS/EXPORTS 93
5.18.6 TARIFF SHIFTS AND GROWTH IN GLOBAL NATURAL GAS POWER GENERATION 93
5.18.7 IMPACT ON END-USE APPLICATIONS 93
6 NATURAL GAS POWER GENERATION MARKET, BY TECHNOLOGY 95
6.1 INTRODUCTION 96
6.2 COMBINED CYCLE 97
6.2.1 GROWING DEMAND FOR LOW-EMISSION POWER GENERATION SOLUTIONS TO FOSTER MARKET GROWTH 97
6.3 OPEN CYCLE 98
6.3.1 SUITABILITY FOR PEAKING POWER PLANTS AND BACKUP GENERATION TO BOOST DEMAND 98
6.4 COGENERATION 99
6.4.1 EMPHASIS ON COST SAVINGS TO DRIVE MARKET 99
7 NATURAL GAS POWER GENERATION MARKET, BY FUEL SOURCE 101
7.1 INTRODUCTION 102
7.2 PIPELINE NATURAL GAS 103
7.2.1 PROMOTION OF CLEANER ENERGY SOURCES TO SUPPORT MARKET GROWTH 103
7.3 LIQUEFIED NATURAL GAS 104
7.3.1 INNOVATIONS IN LIQUEFACTION, SHIPPING, AND REGASIFICATION TO FOSTER MARKET GROWTH 104
8 NATURAL GAS POWER GENERATION MARKET, BY POWER OUTPUT 106
8.1 INTRODUCTION 107
8.2 UP TO 50 MW 108
8.2.1 RISING DEMAND FOR DECENTRALIZED POWER SOLUTIONS TO DRIVE MARKET 108
8.3 51?200 MW 109
8.3.1 SUITABILITY FOR REGIONAL GRIDS, INDUSTRIAL CLUSTERS, AND URBAN CENTERS TO BOOST DEMAND 109
8.4 201?500 MW 111
8.4.1 LARGE-SCALE ELECTRICITY DEMAND FROM URBAN CENTERS, INDUSTRIAL HUBS, AND NATIONAL GRIDS TO FOSTER MARKET GROWTH 111
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8.5 501?1,000 MW 112
8.5.1 INTEGRATION OF DIGITAL TWIN PLATFORMS TO OFFER GROWTH OPPORTUNITIES 112
8.6 ABOVE 1,000 MW 113
8.6.1 RAPID TECHNOLOGICAL AND DIGITAL ADVANCEMENTS TO BOOST DEMAND 113
9 NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION 115
9.1 INTRODUCTION 116
9.2 POWER UTILITIES 117
9.2.1 GOVERNMENT-BACKED CLEAN ENERGY INITIATIVES TO BOOST DEMAND 117
9.3 INDUSTRIAL 118
9.3.1 ADOPTION OF DIGITAL AND AUTOMATED CONTROL SYSTEMS TO FUEL MARKET GROWTH 118
9.4 RESIDENTIAL & COMMERCIAL 120
9.4.1 RISING DEMAND FOR DECENTRALIZED AND BACKUP POWER SOLUTIONS ACROSS URBAN CENTERS TO DRIVE MARKET 120
10 NATURAL GAS POWER GENERATION MARKET, BY REGION 122
10.1 INTRODUCTION 123
10.2 ASIA PACIFIC 125
10.2.1 CHINA 129
10.2.1.1 Increasing investment in modern gas-fired power plants to boost demand 129
10.2.2 INDONESIA 130
10.2.2.1 Emphasis on reducing carbon emissions to drive market 130
10.2.3 SOUTH KOREA 131
10.2.3.1 Expansion of combined-cycle gas turbine plants in coastal regions to fuel market growth 131
10.2.4 THAILAND 132
10.2.4.1 Rising demand in electricity generation and industrial consumption to foster market growth 132
10.2.5 JAPAN 133
10.2.5.1 Focus on minimizing dependency on fossil fuels to drive market 133
10.2.6 REST OF ASIA PACIFIC 134
10.3 NORTH AMERICA 135
10.3.1 US 138
10.3.1.1 Surging consumption in electric power sector to fuel market growth 138
10.3.2 CANADA 139
10.3.2.1 Rising need to phase out coal-fired power plants to foster market growth 139
10.3.3 MEXICO 140
10.3.3.1 Emphasis on modernizing power fleet to boost demand 140
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10.4 SOUTH AMERICA 141
10.4.1 BRAZIL 145
10.4.1.1 Growing applications in powering industrial growth and energy-intensive operations to fuel market growth 145
10.4.2 ARGENTINA 145
10.4.2.1 Rising demand for flexible energy sources to complement renewable energy sources to drive market 145
10.4.3 REST OF SOUTH AMERICA 146
10.5 EUROPE 147
10.5.1 RUSSIA 151
10.5.1.1 Abundance of reserves and extensive pipeline network to boost demand 151
10.5.2 UK 152
10.5.2.1 Rapid electrification across transport, heating, and digital infrastructure to fuel market growth 152
10.5.3 GERMANY 153
10.5.3.1 Emphasis on modernizing high-efficiency gas infrastructure to support market growth 153
10.5.4 ITALY 154
10.5.4.1 Development of hydrogen-ready infrastructure to boost demand 154
10.5.5 FRANCE 155
10.5.5.1 Expansion of LNG infrastructure to foster market growth 155
10.5.6 REST OF EUROPE 156
10.6 MIDDLE EAST & AFRICA 157
10.6.1 GCC 162
10.6.1.1 Saudi Arabia 162
10.6.1.1.1 Government initiatives to diversify energy mix to offer growth opportunities 162
10.6.1.2 UAE 163
10.6.1.2.1 Emphasis on modernizing natural gas infrastructure to drive market 163
10.6.1.3 Rest of GCC 164
10.6.2 IRAN 165
10.6.2.1 Expansion of energy-intensive industries to drive market 165
10.6.3 ALGERIA 166
10.6.3.1 Presence of strong export-oriented gas industry to boost demand 166
10.6.4 NIGERIA 167
10.6.4.1 Increasing demand for reliable electricity to fuel economic development to drive market 167
10.6.5 REST OF MIDDLE EAST & AFRICA 168
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11 COMPETITIVE LANDSCAPE 170
11.1 OVERVIEW 170
11.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2021?2025 170
11.3 MARKET SHARE ANALYSIS, 2024 172
11.4 REVENUE ANALYSIS, 2020?2024 174
11.5 COMPANY VALUATION AND FINANCIAL METRICS 175
11.6 BRAND COMPARISON 177
11.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2024 178
11.7.1 STARS 178
11.7.2 EMERGING LEADERS 178
11.7.3 PERVASIVE PLAYERS 178
11.7.4 PARTICIPANTS 178
11.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2024 180
11.7.5.1 Company footprint 180
11.7.5.2 Region footprint 181
11.7.5.3 End-use application footprint 182
11.7.5.4 Technology footprint 183
11.7.5.5 Fuel source footprint 184
11.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2024 185
11.8.1 PROGRESSIVE COMPANIES 185
11.8.2 RESPONSIVE COMPANIES 185
11.8.3 DYNAMIC COMPANIES 185
11.8.4 STARTING BLOCKS 185
11.8.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2024 187
11.8.5.1 Detailed list of key startups/SMEs 187
11.8.5.2 Competitive benchmarking of key startups/SMEs 188
11.9 COMPETITIVE SCENARIO 188
11.9.1 DEALS 188
11.9.2 OTHER DEVELOPMENTS 189
12 COMPANY PROFILES 191
12.1 KEY PLAYERS 191
12.1.1 GE VERNOVA 191
12.1.1.1 Business overview 191
12.1.1.2 Products/Solutions/Services offered 192
12.1.1.3 Recent developments 193
12.1.1.3.1 Deals 193
12.1.1.3.2 Other developments 194
12.1.1.4 MnM view 195
12.1.1.4.1 Key strengths/Right to win 195
12.1.1.4.2 Strategic choices 195
12.1.1.4.3 Weaknesses/Competitive threats 196
12.1.2 SIEMENS ENERGY 197
12.1.2.1 Business overview 197
12.1.2.2 Products/Solutions/Services offered 198
12.1.2.3 Recent developments 199
12.1.2.3.1 Developments 199
12.1.2.4 MnM view 200
12.1.2.4.1 Key strengths/Right to win 200
12.1.2.4.2 Strategic choices 200
12.1.2.4.3 Weaknesses/Competitive threats 200
12.1.3 MITSUBISHI HEAVY INDUSTRIES, LTD. 201
12.1.3.1 Business overview 201
12.1.3.2 Products/Solutions/Services offered 202
12.1.3.3 Recent developments 203
12.1.3.3.1 Developments 203
12.1.3.4 MnM view 204
12.1.3.4.1 Key strengths/Right to win 204
12.1.3.4.2 Strategic choices 204
12.1.3.4.3 Weaknesses/Competitive threats 204
12.1.4 W?RTSIL? 205
12.1.4.1 Business overview 205
12.1.4.2 Products/Solutions/Services offered 206
12.1.4.3 Recent developments 207
12.1.4.3.1 Developments 207
12.1.4.4 MnM view 207
12.1.4.4.1 Key strengths/Right to win 207
12.1.4.4.2 Strategic choices 208
12.1.4.4.3 Weaknesses/Competitive threats 208
12.1.5 ANSALDO ENERGIA 209
12.1.5.1 Business overview 209
12.1.5.2 Products/Solutions/Services offered 210
12.1.5.3 Recent developments 210
12.1.5.3.1 Developments 210
12.1.5.4 MnM view 210
12.1.5.4.1 Key strengths/Right to win 210
12.1.5.4.2 Strategic choices 211
12.1.5.4.3 Weaknesses/Competitive threats 211
12.1.6 TECOGEN, INC. 212
12.1.6.1 Business overview 212
12.1.6.2 Products/Solutions/Services offered 213
12.1.6.3 Recent developments 213
12.1.6.3.1 Deals 213
12.1.6.3.2 Other developments 214
12.1.7 DESTINUS ENERGY 215
12.1.7.1 Business overview 215
12.1.7.2 Products/Solutions/Services offered 215
12.1.7.3 Recent developments 216
12.1.7.3.1 Deals 216
12.1.8 BECHTEL CORPORATION 217
12.1.8.1 Business overview 217
12.1.8.2 Products/Solutions/Services offered 217
12.1.8.3 Recent developments 218
12.1.8.3.1 Developments 218
12.1.9 FLUOR CORPORATION 219
12.1.9.1 Business overview 219
12.1.9.2 Products/Solutions/Services offered 220
12.1.9.3 Recent developments 221
12.1.9.3.1 Developments 221
12.1.10 WORLEY 222
12.1.10.1 Business overview 222
12.1.10.2 Products/Solutions/Services offered 223
12.1.10.3 Recent developments 224
12.1.10.3.1 Developments 224
12.1.11 CATERPILLAR 225
12.1.11.1 Business overview 225
12.1.11.2 Products/Solutions/Services offered 226
12.1.12 MCDERMOTT 227
12.1.12.1 Business overview 227
12.1.12.2 Products/Solutions/Services offered 228
12.1.13 CLARKE ENERGY 229
12.1.13.1 Business overview 229
12.1.13.2 Products/Solutions/Services offered 230
12.1.14 BURNS & MCDONNELL 231
12.1.14.1 Business overview 231
12.1.14.2 Products/Solutions/Services offered 232
12.1.15 CALPINE 233
12.1.15.1 Business overview 233
12.1.15.2 Products/Solutions/Services offered 233
12.2 OTHER PLAYERS 234
12.2.1 CAPSTONE GREEN ENERGY HOLDINGS, INC. 234
12.2.2 NAUTIX 235
12.2.3 2G ENERGY 235
12.2.4 BOSCH INDUSTRIEKESSEL GMBH 236
12.2.5 LARSEN & TOUBRO LIMITED 236
12.2.6 BHARAT HEAVY ELECTRICALS LIMITED 237
12.2.7 KAWASAKI HEAVY INDUSTRIES, LTD. 238
12.2.8 SULZER LTD 238
12.2.9 ALINTA ENERGY 239
12.2.10 LATVENERGO AS 239
12.2.11 GEORGIA POWER - SOUTHERN COMPANY 240
13 APPENDIX 241
13.1 INSIGHTS FROM INDUSTRY EXPERTS 241
13.2 DISCUSSION GUIDE 242
13.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 245
13.4 CUSTOMIZATION OPTIONS 247
13.5 RELATED REPORTS 247
13.6 AUTHOR DETAILS 248
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List of Tables/Graphs
TABLE 1 INCLUSIONS AND EXCLUSIONS IN NATURAL GAS POWER GENERATION MARKET 26
TABLE 2 NATURAL GAS POWER GENERATION MARKET SIZE ESTIMATION METHODOLOGY (DEMAND SIDE) 35
TABLE 3 NATURAL GAS POWER GENERATION MARKET: RISK ANALYSIS 40
TABLE 4 NATURAL GAS POWER GENERATION MARKET SNAPSHOT 41
TABLE 5 ROLE OF COMPANIES IN NATURAL GAS POWER GENERATION ECOSYSTEM 61
TABLE 6 LIST OF KEY PATENTS, 2019?2022 66
TABLE 7 LIST OF KEY CONFERENCES AND EVENTS, 2025?2026 67
TABLE 8 INDICATIVE CAPITAL EXPENDITURE ON NATURAL GAS POWER PLANTS,
BY POWER OUTPUT, 2024 (USD MILLION/MW) 68
TABLE 9 AVERAGE CAPITAL EXPENDITURE ON NATURAL GAS POWER GENERATION,
BY REGION, 2022?2024 (USD MILLION/MW) 69
TABLE 10 IMPORT DATA FOR HS CODE 8411-COMPLIANT PRODUCTS, BY COUNTRY,
2020?2024 (USD THOUSAND) 70
TABLE 11 EXPORT DATA FOR HS CODE 8411-COMPLIANT PRODUCTS, BY COUNTRY,
2020?2024 (USD THOUSAND) 71
TABLE 12 IMPORT DATA FOR HS CODE 8411-COMPLIANT PRODUCTS
(EXCLUDING GENERATING SETS), 2024 72
TABLE 13 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 73
TABLE 14 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 74
TABLE 15 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 75
TABLE 16 MIDDLE EAST & AFRICA: REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 76
TABLE 17 SOUTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 77
TABLE 18 REGULATIONS IN NORTH AMERICA 77
TABLE 19 REGULATIONS IN EUROPE 78
TABLE 20 REGULATIONS IN ASIA PACIFIC 79
TABLE 21 REGULATIONS IN MIDDLE EAST & AFRICA 80
TABLE 22 REGULAIONS IN IN SOUTH AMERICA 81
TABLE 23 IMPACT OF PORTER'S FIVE FORCES ANALYSIS 81
TABLE 24 INFLUENCE OF KEY STAKEHOLDERS ON BUYING PROCESS FOR TOP END-USE APPLICATIONS (%) 83
TABLE 25 KEY BUYING CRITERIA FOR TOP THREE END-USE APPLICATIONS 84
TABLE 26 US-ADJUSTED RECIPROCAL TARIFF RATES, 2024 (USD BILLION) 89
TABLE 27 EXPECTED CHANGE IN PRICES AND LIKELY IMPACT ON END-USE
APPLICATIONS DUE TO TARIFF 90
TABLE 28 NATURAL GAS POWER GENERATION MARKET, BY TECHNOLOGY,
2021?2024 (USD MILLION) 96
TABLE 29 NATURAL GAS POWER GENERATION MARKET, BY TECHNOLOGY,
2025?2030 (USD MILLION) 97
TABLE 30 COMBINED CYCLE: NATURAL GAS POWER GENERATION MARKET, BY REGION, 2021?2024 (USD MILLION) 97
TABLE 31 COMBINED CYCLE: NATURAL GAS POWER GENERATION MARKET, BY REGION, 2025?2030 (USD MILLION) 98
TABLE 32 OPEN CYCLE: NATURAL GAS POWER GENERATION MARKET, BY REGION,
2021?2024 (USD MILLION) 98
TABLE 33 OPEN CYCLE: NATURAL GAS POWER GENERATION MARKET, BY REGION,
2025?2030 (USD MILLION) 99
TABLE 34 COGENERATION: NATURAL GAS POWER GENERATION MARKET, BY REGION, 2021?2024 (USD MILLION) 100
TABLE 35 COGENERATION: NATURAL GAS POWER GENERATION MARKET, BY REGION, 2025?2030 (USD MILLION) 100
TABLE 36 NATURAL GAS POWER GENERATION MARKET, BY FUEL SOURCE,
2021?2024 (USD MILLION) 102
TABLE 37 NATURAL GAS POWER GENERATION MARKET, BY FUEL SOURCE,
2025?2030 (USD MILLION) 103
TABLE 38 PIPELINE NATURAL GAS: NATURAL GAS POWER GENERATION MARKET, BY REGION, 2021?2024 (USD MILLION) 103
TABLE 39 PIPELINE NATURAL GAS: NATURAL GAS POWER GENERATION MARKET, BY REGION, 2025?2030 (USD MILLION) 104
TABLE 40 LIQUEFIED NATURAL GAS: NATURAL GAS POWER GENERATION MARKET,
BY REGION, 2021?2024 (USD MILLION) 104
TABLE 41 LIQUEFIED NATURAL GAS: NATURAL GAS POWER GENERATION MARKET,
BY REGION, 2025?2030 (USD MILLION) 105
TABLE 42 NATURAL GAS POWER GENERATION MARKET, BY POWER OUTPUT,
2021?2024 (USD MILLION) 107
TABLE 43 NATURAL GAS POWER GENERATION MARKET, BY POWER OUTPUT,
2025?2030 (USD MILLION) 108
TABLE 44 UP TO 50 MW: NATURAL GAS POWER GENERATION MARKET, BY REGION,
2021?2024 (USD MILLION) 109
TABLE 45 UP TO 50 MW: NATURAL GAS POWER GENERATION MARKET, BY REGION,
2025?2030 (USD MILLION) 109
TABLE 46 51?200 MW: NATURAL GAS POWER GENERATION MARKET, BY REGION,
2021?2024 (USD MILLION) 110
TABLE 47 51?200 MW: NATURAL GAS POWER GENERATION MARKET, BY REGION,
2025?2030 (USD MILLION) 110
TABLE 48 201?500 MW: NATURAL GAS POWER GENERATION MARKET, BY REGION,
2021?2024 (USD MILLION) 111
TABLE 49 201?500 MW: NATURAL GAS POWER GENERATION MARKET, BY REGION,
2025?2030 (USD MILLION) 111
TABLE 50 501?1,000 MW: NATURAL GAS POWER GENERATION MARKET, BY REGION, 2021?2024 (USD MILLION) 112
TABLE 51 501?1,000 MW: NATURAL GAS POWER GENERATION MARKET, BY REGION, 2025?2030 (USD MILLION) 113
TABLE 52 ABOVE 1,000 MW: NATURAL GAS POWER GENERATION MARKET, BY REGION, 2021?2024 (USD MILLION) 114
TABLE 53 ABOVE 1,000 MW: NATURAL GAS POWER GENERATION MARKET, BY REGION, 2025?2030 (USD MILLION) 114
TABLE 54 NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION,
2021?2024 (USD MILLION) 116
TABLE 55 NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION,
2025?2030 (USD MILLION) 117
TABLE 56 POWER UTILITIES: NATURAL GAS POWER GENERATION MARKET, BY REGION, 2021?2024 (USD MILLION) 118
TABLE 57 POWER UTILITIES: NATURAL GAS POWER GENERATION MARKET, BY REGION, 2025?2030 (USD MILLION) 118
TABLE 58 INDUSTRIAL: NATURAL GAS POWER GENERATION MARKET, BY REGION,
2021?2024 (USD MILLION) 119
TABLE 59 INDUSTRIAL: NATURAL GAS POWER GENERATION MARKET, BY REGION,
2025?2030 (USD MILLION) 119
TABLE 60 RESIDENTIAL & COMMERCIAL: NATURAL GAS POWER GENERATION MARKET,
BY REGION, 2021?2024 (USD MILLION) 120
TABLE 61 RESIDENTIAL & COMMERCIAL: NATURAL GAS POWER GENERATION MARKET,
BY REGION, 2025?2030 (USD MILLION) 121
TABLE 62 NATURAL GAS POWER GENERATION MARKET, BY REGION,
2021?2024 (USD MILLION) 124
TABLE 63 NATURAL GAS POWER GENERATION MARKET, BY REGION,
2025?2030 (USD MILLION) 124
TABLE 64 NATURAL GAS POWER GENERATION MARKET, BY REGION, 2021?2024 (MW) 124
TABLE 65 NATURAL GAS POWER GENERATION MARKET, BY REGION, 2025?2030 (MW) 125
TABLE 66 ASIA PACIFIC: NATURAL GAS POWER GENERATION MARKET, BY TECHNOLOGY, 2021?2024 (USD MILLION) 126
TABLE 67 ASIA PACIFIC: NATURAL GAS POWER GENERATION MARKET, BY TECHNOLOGY, 2025?2030 (USD MILLION) 126
TABLE 68 ASIA PACIFIC: NATURAL GAS POWER GENERATION MARKET, BY POWER OUTPUT, 2021?2024 (USD MILLION) 127
TABLE 69 ASIA PACIFIC: NATURAL GAS POWER GENERATION MARKET, BY TYPE,
2025?2030 (USD MILLION) 127
TABLE 70 ASIA PACIFIC: NATURAL GAS POWER GENERATION MARKET, BY FUEL SOURCE, 2021?2024 (USD MILLION) 127
TABLE 71 ASIA PACIFIC: NATURAL GAS POWER GENERATION MARKET, BY APPLICATION, 2025?2030 (USD MILLION) 128
TABLE 72 ASIA PACIFIC: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2021?2024 (USD MILLION) 128
TABLE 73 ASIA PACIFIC: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2025?2030 (USD MILLION) 128
TABLE 74 ASIA PACIFIC: NATURAL GAS POWER GENERATION MARKET, BY COUNTRY,
2021?2024 (USD MILLION) 128
TABLE 75 ASIA PACIFIC: NATURAL GAS POWER GENERATION MARKET, BY COUNTRY,
2025?2030 (USD MILLION) 129
TABLE 76 CHINA: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2021?2024 (USD MILLION) 130
TABLE 77 CHINA: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2025?2030 (USD MILLION) 130
TABLE 78 INDONESIA: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2021?2024 (USD MILLION) 131
TABLE 79 INDONESIA: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2025?2030 (USD MILLION) 131
TABLE 80 SOUTH KOREA: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2021?2024 (USD MILLION) 132
TABLE 81 SOUTH KOREA: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2025?2030 (USD MILLION) 132
TABLE 82 THAILAND: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2021?2024 (USD MILLION) 133
TABLE 83 THAILAND: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2025?2030 (USD MILLION) 133
TABLE 84 JAPAN: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2021?2024 (USD MILLION) 134
TABLE 85 JAPAN: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2025?2030 (USD MILLION) 134
TABLE 86 REST OF ASIA PACIFIC: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2021?2024 (USD MILLION) 134
TABLE 87 REST OF ASIA PACIFIC: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2025?2030 (USD MILLION) 135
TABLE 88 NORTH AMERICA: NATURAL GAS POWER GENERATION MARKET, BY TECHNOLOGY, 2021?2024 (USD MILLION) 135
TABLE 89 NORTH AMERICA: NATURAL GAS POWER GENERATION MARKET, BY TECHNOLOGY, 2025?2030 (USD MILLION) 136
TABLE 90 NORTH AMERICA: NATURAL GAS POWER GENERATION MARKET, BY POWER OUTPUT, 2021?2024 (USD MILLION) 136
TABLE 91 NORTH AMERICA: NATURAL GAS POWER GENERATION MARKET, BY POWER OUTPUT, 2025?2030 (USD MILLION) 136
TABLE 92 NORTH AMERICA: NATURAL GAS POWER GENERATION MARKET, BY FUEL SOURCE, 2021?2024 (USD MILLION) 137
TABLE 93 NORTH AMERICA: NATURAL GAS POWER GENERATION MARKET, BY APPLICATION, 2025?2030 (USD MILLION) 137
TABLE 94 NORTH AMERICA: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2021?2024 (USD MILLION) 137
TABLE 95 NORTH AMERICA: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2025?2030 (USD MILLION) 137
TABLE 96 NORTH AMERICA: NATURAL GAS POWER GENERATION MARKET, BY COUNTRY, 2021?2024 (USD MILLION) 138
TABLE 97 NORTH AMERICA: NATURAL GAS POWER GENERATION MARKET, BY COUNTRY, 2025?2030 (USD MILLION) 138
TABLE 98 US: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2021?2024 (USD MILLION) 139
TABLE 99 US: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2025?2030 (USD MILLION) 139
TABLE 100 CANADA: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2021?2024 (USD MILLION) 140
TABLE 101 CANADA: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2025?2030 (USD MILLION) 140
TABLE 102 MEXICO: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2021?2024 (USD MILLION) 141
TABLE 103 MEXICO: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2025?2030 (USD MILLION) 141
TABLE 104 SOUTH AMERICA: NATURAL GAS POWER GENERATION MARKET, BY TECHNOLOGY, 2021?2024 (USD MILLION) 142
TABLE 105 SOUTH AMERICA: NATURAL GAS POWER GENERATION MARKET, BY TECHNOLOGY, 2025?2030 (USD MILLION) 142
TABLE 106 SOUTH AMERICA: NATURAL GAS POWER GENERATION MARKET, BY POWER OUTPUT, 2021?2024 (USD MILLION) 142
TABLE 107 SOUTH AMERICA: NATURAL GAS POWER GENERATION MARKET, BY POWER OUTPUT, 2025?2030 (USD MILLION) 143
TABLE 108 SOUTH AMERICA: NATURAL GAS POWER GENERATION MARKET, BY FUEL SOURCE, 2021?2024 (USD MILLION) 143
TABLE 109 SOUTH AMERICA: NATURAL GAS POWER GENERATION MARKET, BY APPLICATION, 2025?2030 (USD MILLION) 143
TABLE 110 SOUTH AMERICA: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2021?2024 (USD MILLION) 143
TABLE 111 SOUTH AMERICA: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2025?2030 (USD MILLION) 144
TABLE 112 SOUTH AMERICA: NATURAL GAS POWER GENERATION MARKET, BY COUNTRY, 2021?2024 (USD MILLION) 144
TABLE 113 SOUTH AMERICA: NATURAL GAS POWER GENERATION MARKET, BY COUNTRY, 2025?2030 (USD MILLION) 144
TABLE 114 BRAZIL: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2021?2024 (USD MILLION) 145
TABLE 115 BRAZIL: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2025?2030 (USD MILLION) 145
TABLE 116 ARGENTINA: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2021?2024 (USD MILLION) 146
TABLE 117 ARGENTINA: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2025?2030 (USD MILLION) 146
TABLE 118 REST OF SOUTH AMERICA: NATURAL GAS POWER GENERATION MARKET,
BY END-USE APPLICATION, 2021?2024 (USD MILLION) 147
TABLE 119 REST OF SOUTH AMERICA: NATURAL GAS POWER GENERATION MARKET,
BY END-USE APPLICATION, 2025?2030 (USD MILLION) 147
TABLE 120 EUROPE: NATURAL GAS POWER GENERATION MARKET, BY TECHNOLOGY,
2021?2024 (USD MILLION) 148
TABLE 121 EUROPE: NATURAL GAS POWER GENERATION MARKET, BY TECHNOLOGY,
2025?2030 (USD MILLION) 148
TABLE 122 EUROPE: NATURAL GAS POWER GENERATION MARKET, BY POWER OUTPUT, 2021?2024 (USD MILLION) 148
TABLE 123 EUROPE: NATURAL GAS POWER GENERATION MARKET, BY POWER OUTPUT, 2025?2030 (USD MILLION) 149
TABLE 124 EUROPE: NATURAL GAS POWER GENERATION MARKET, BY FUEL SOURCE,
2021?2024 (USD MILLION) 149
TABLE 125 EUROPE: NATURAL GAS POWER GENERATION MARKET, BY FUEL SOURCE,
2025?2030 (USD MILLION) 149
TABLE 126 EUROPE: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2021?2024 (USD MILLION) 149
TABLE 127 EUROPE: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2025?2030 (USD MILLION) 150
TABLE 128 EUROPE: NATURAL GAS POWER GENERATION MARKET, BY COUNTRY,
2021?2024 (USD MILLION) 150
TABLE 129 EUROPE: NATURAL GAS POWER GENERATION MARKET, BY COUNTRY,
2025?2030 (USD MILLION) 150
TABLE 130 RUSSIA: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2021?2024 (USD MILLION) 151
TABLE 131 RUSSIA: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2025?2030 (USD MILLION) 151
TABLE 132 UK: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2021?2024 (USD MILLION) 152
TABLE 133 UK: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2025?2030 (USD MILLION) 152
TABLE 134 GERMANY: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2021?2024 (USD MILLION) 153
TABLE 135 GERMANY: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2025?2030 (USD MILLION) 153
TABLE 136 ITALY: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2021?2024 (USD MILLION) 154
TABLE 137 ITALY: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2025?2030 (USD MILLION) 154
TABLE 138 FRANCE: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2021?2024 (USD MILLION) 155
TABLE 139 FRANCE: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2025?2030 (USD MILLION) 156
TABLE 140 NATURAL GAS POWER GENERATION MARKET IN REST OF EUROPE, BY END-USE APPLICATION, 2021?2024 (USD MILLION) 157
TABLE 141 NATURAL GAS POWER GENERATION MARKET IN REST OF EUROPE, BY END-USE APPLICATION, 2025?2030 (USD MILLION) 157
TABLE 142 MIDDLE EAST & AFRICA: NATURAL GAS POWER GENERATION MARKET,
BY TECHNOLOGY, 2021?2024 (USD MILLION) 158
TABLE 143 MIDDLE EAST & AFRICA: NATURAL GAS POWER GENERATION MARKET,
BY TECHNOLOGY, 2025?2030 (USD MILLION) 159
TABLE 144 MIDDLE EAST & AFRICA: NATURAL GAS POWER GENERATION MARKET,
BY POWER OUTPUT, 2021?2024 (USD MILLION) 159
TABLE 145 MIDDLE EAST & AFRICA: NATURAL GAS POWER GENERATION MARKET,
BY POWER OUTPUT, 2025?2030 (USD MILLION) 159
TABLE 146 MIDDLE EAST & AFRICA: NATURAL GAS POWER GENERATION MARKET,
BY FUEL SOURCE, 2021?2024 (USD MILLION) 160
TABLE 147 MIDDLE EAST & AFRICA: NATURAL GAS POWER GENERATION MARKET,
BY FUEL SOURCE, 2025?2030 (USD MILLION) 160
TABLE 148 MIDDLE EAST & AFRICA: NATURAL GAS POWER GENERATION MARKET,
BY END-USE APPLICATION, 2021?2024 (USD MILLION) 160
TABLE 149 MIDDLE EAST & AFRICA: NATURAL GAS POWER GENERATION MARKET,
BY END-USE APPLICATION, 2025?2030 (USD MILLION) 160
TABLE 150 MIDDLE EAST & AFRICA: NATURAL GAS POWER GENERATION MARKET,
BY COUNTRY, 2021?2024 (USD MILLION) 161
TABLE 151 MIDDLE EAST & AFRICA: NATURAL GAS POWER GENERATION MARKET,
BY COUNTRY, 2025?2030 (USD MILLION) 161
TABLE 152 GCC: NATURAL GAS POWER GENERATION MARKET, BY COUNTRY,
2021?2024 (USD MILLION) 161
TABLE 153 GCC: NATURAL GAS POWER GENERATION MARKET, BY COUNTRY,
2025?2030 (USD MILLION) 162
TABLE 154 SAUDI ARABIA: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2021?2024 (USD MILLION) 163
TABLE 155 SAUDI ARABIA: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2025?2030 (USD MILLION) 163
TABLE 156 UAE: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2021?2024 (USD MILLION) 164
TABLE 157 UAE: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2025?2030 (USD MILLION) 164
TABLE 158 REST OF GCC: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2021?2024 (USD MILLION) 165
TABLE 159 REST OF GCC: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2025?2030 (USD MILLION) 165
TABLE 160 IRAN: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2021?2024 (USD MILLION) 166
TABLE 161 IRAN: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2025?2030 (USD MILLION) 166
TABLE 162 ALGERIA: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2021?2024 (USD MILLION) 167
TABLE 163 NATURAL GAS POWER GENERATION MARKET IN ALGERIA, BY END-USE APPLICATION, 2025?2030 (USD MILLION) 167
TABLE 164 NIGERIA: NATURAL GAS POWER GENERATION MARKET, BY END-USE APPLICATION, 2021?2024 (USD MILLION) 168
TABLE 165 NATURAL GAS POWER GENERATION MARKET IN NIGERIA, BY END-USE APPLICATION, 2025?2030 (USD MILLION) 168
TABLE 166 REST OF MIDDLE EAST & AFRICA: NATURAL GAS POWER GENERATION MARKET,
BY END-USE APPLICATION, 2021?2024 (USD MILLION) 169
TABLE 167 REST OF MIDDLE EAST & AFRICA: NATURAL GAS POWER GENERATION MARKET,
BY END-USE APPLICATION, 2025?2030 (USD MILLION) 169
TABLE 168 NATURAL GAS POWER GENERATION MARKET: OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS, JANUARY 2021?SEPTEMBER 2025 170
TABLE 169 NATURAL GAS POWER GENERATION MARKET: DEGREE OF COMPETITION, 2024 172
TABLE 170 NATURAL GAS POWER GENERATION MARKET: REGION FOOTPRINT 181
TABLE 171 NATURAL GAS POWER GENERATION MARKET: END-USE APPLICATION FOOTPRINT 182
TABLE 172 NATURAL GAS POWER GENERATION MARKET: TECHNOLOGY FOOTPRINT 183
TABLE 173 NATURAL GAS POWER GENERATION MARKET: FUEL SOURCE FOOTPRINT 184
TABLE 174 NATURAL GAS POWER GENERATION MARKET: DETAILED LIST OF KEY STARTUPS/SMES 187
TABLE 175 NATURAL GAS POWER GENERATION MARKET: COMPETITIVE BENCHMARKING
OF KEY STARTUPS/SMES 188
TABLE 176 NATURAL GAS POWER GENERATION MARKET: DEALS, JANUARY 2021?SEPTEMBER 2025 189
TABLE 177 NATURAL GAS POWER GENERATION MARKET: OTHER DEVELOPMENTS, JANUARY 2021?SEPTEMBER 2025 189
TABLE 178 GE VERNOVA: COMPANY OVERVIEW 191
TABLE 179 GE VERNOVA: PRODUCTS/SOLUTIONS/SERVICES OFFERED 192
TABLE 180 GE VERNOVA: DEALS 193
TABLE 181 GE VERNOVA: OTHER DEVELOPMENTS 194
TABLE 182 SIEMENS ENERGY: COMPANY OVERVIEW 197
TABLE 183 SIEMENS ENERGY: PRODUCTS/SOLUTIONS/SERVICES OFFERED 198
TABLE 184 SIEMENS ENERGY: DEVELOPMENTS 199
TABLE 185 MITSUBISHI HEAVY INDUSTRIES, LTD.: COMPANY OVERVIEW 201
TABLE 186 MITSUBISHI HEAVY INDUSTRIES, LTD.: PRODUCTS/SOLUTIONS/
SERVICES OFFERED 202
TABLE 187 MITSUBISHI HEAVY INDUSTRIES, LTD.: DEVELOPMENTS 203
TABLE 188 W?RTSIL?: COMPANY OVERVIEW 205
TABLE 189 W?RTSIL?: PRODUCTS/SOLUTIONS/SERVICES OFFERED 206
TABLE 190 W?RTSIL?: DEVELOPMENTS 207
TABLE 191 ANSALDO ENERGIA: COMPANY OVERVIEW 209
TABLE 192 ANSALDO ENERGIA: PRODUCTS/SOLUTIONS/SERVICES OFFERED 210
TABLE 193 ANSALDO ENERGIA: DEVELOPMENTS 210
TABLE 194 TECOGEN, INC.: COMPANY OVERVIEW 212
TABLE 195 TECOGEN, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 213
TABLE 196 TECOGEN, INC.: DEALS 213
TABLE 197 TECOGEN, INC.: OTHER DEVELOPMENTS 214
TABLE 198 DESTINUS ENERGY: COMPANY OVERVIEW 215
TABLE 199 DESTINUS ENERGY: PRODUCTS/SOLUTIONS/SERVICES OFFERED 215
TABLE 200 DESTINUS ENERGY: DEALS 216
TABLE 201 BECHTEL CORPORATION: COMPANY OVERVIEW 217
TABLE 202 BECHTEL CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED 217
TABLE 203 BECHTEL CORPORATION: DEVELOPMENTS 218
TABLE 204 FLUOR CORPORATION: COMPANY OVERVIEW 219
TABLE 205 FLUOR CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED 220
TABLE 206 FLUOR CORPORATION: DEVELOPMENTS 221
TABLE 207 WORLEY: COMPANY OVERVIEW 222
TABLE 208 WORLEY: PRODUCTS/SOLUTIONS/SERVICES OFFERED 223
TABLE 209 WORLEY: DEVELOPMENTS 224
TABLE 210 CATERPILLAR: COMPANY OVERVIEW 225
TABLE 211 CATERPILLAR: PRODUCTS/SOLUTIONS/SERVICES OFFERED 226
TABLE 212 MCDERMOTT: COMPANY OVERVIEW 227
TABLE 213 MCDERMOTT: PRODUCTS/SOLUTIONS/SERVICES OFFERED 228
TABLE 214 CLARKE ENERGY: COMPANY OVERVIEW 229
TABLE 215 CLARKE ENERGY: PRODUCTS/SOLUTIONS/SERVICES OFFERED 230
TABLE 216 BURNS & MCDONNELL: COMPANY OVERVIEW 231
TABLE 217 BURNS & MCDONNELL: PRODUCTS/SOLUTIONS/SERVICES OFFERED 232
TABLE 218 CALPINE: COMPANY OVERVIEW 233
TABLE 219 CALPINE: PRODUCTS/SOLUTIONS/SERVICES OFFERED 233
TABLE 220 CAPSTONE GREEN ENERGY HOLDINGS, INC.: COMPANY OVERVIEW 234
TABLE 221 NAUTIX: COMPANY OVERVIEW 235
TABLE 222 2G ENERGY: COMPANY OVERVIEW 235
TABLE 223 BOSCH INDUSTRIEKESSEL GMBH: COMPANY OVERVIEW 236
TABLE 224 LARSEN & TOUBRO LIMITED: COMPANY OVERVIEW 236
TABLE 225 BHARAT HEAVY ELECTRICALS LIMITED: COMPANY OVERVIEW 237
TABLE 226 KAWASAKI HEAVY INDUSTRIES, LTD.: COMPANY OVERVIEW 238
TABLE 227 SULZER LTD: COMPANY OVERVIEW 238
TABLE 228 ALINTA ENERGY: COMPANY OVERVIEW 239
TABLE 229 LATVENERGO AS: COMPANY OVERVIEW 239
TABLE 230 GEORGIA POWER - SOUTHERN COMPANY: COMPANY OVERVIEW 240FIGURE 1 NATURAL GAS POWER GENERATION MARKET SEGMENTATION AND
REGIONAL SCOPE 25
FIGURE 2 DURATION CONSIDERED 27
FIGURE 3 NATURAL GAS POWER GENERATION MARKET: RESEARCH DESIGN 29
FIGURE 4 KEY METRICS CONSIDERED TO ANALYZE DEMAND FOR NATURAL GAS POWER GENERATION 33
FIGURE 5 NATURAL GAS POWER GENERATION MARKET: BOTTOM-UP APPROACH 34
FIGURE 6 NATURAL GAS POWER GENERATION MARKET SIZE ESTIMATION:
TOP-DOWN APPROACH 37
FIGURE 7 KEY STEPS CONSIDERED FOR ASSESSING SUPPLY OF NATURAL
GAS POWER GENERATION 38
FIGURE 8 NATURAL GAS POWER GENERATION MARKET: SUPPLY-SIDE ANALYSIS 38
FIGURE 9 DATA TRIANGULATION 39
FIGURE 10 COMBINED CYCLE TO HOLD LARGEST MARKET SHARE IN 2025 42
FIGURE 11 LIQUEFIED NATURAL GAS TO RECORD HIGHER CAGR DURING FORECAST PERIOD 42
FIGURE 12 501?1,000 MW SEGMENT TO DOMINATE MARKET IN 2025 43
FIGURE 13 POWER UTILITIES TO ACCOUNT FOR LARGEST MARKET SHARE IN 2030 43
FIGURE 14 ASIA PACIFIC CAPTURED LARGEST MARKET SHARE IN 2024 44
FIGURE 15 FAVORABLE GOVERNMENT POLICIES AND REGULATIONS PROMOTING CLEANER ENERGY TO DRIVE NATURAL GAS POWER GENERATION MARKET 45
FIGURE 16 ASIA PACIFIC TO RECORD HIGHEST CAGR DURING FORECAST PERIOD 46
FIGURE 17 COMBINED CYCLE SEGMENT TO HOLD LARGEST MARKET SHARE IN 2030 46
FIGURE 18 PIPELINE NATURAL GAS TO ACCOUNT FOR LARGER MARKET SHARE IN 2030 47
FIGURE 19 501?1,000 MW SEGMENT TO CAPTURE LARGEST MARKET SHARE IN 2030 47
FIGURE 20 POWER UTILITIES SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE IN 2030 48
FIGURE 21 PIPELINE NATURAL GAS SEGMENT AND CHINA HELD LARGEST SHARES OF ASIA PACIFIC NATURAL GAS POWER GENERATION MARKET IN 2024 49
FIGURE 22 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 50
FIGURE 23 NATURAL GAS CONSUMPTION, BY REGION, 2014?2024 51
FIGURE 24 NATURAL GAS CONSUMPTION IN US, 2020?2024 53
FIGURE 25 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 57
FIGURE 26 NATURAL GAS POWER GENERATION SUPPLY CHAIN ANALYSIS 58
FIGURE 27 NATURAL GAS POWER GENERATION ECOSYSTEM ANALYSIS 60
FIGURE 28 PATENTS APPLIED AND GRANTED, 2015?2024 65
FIGURE 29 AVERAGE CAPITAL EXPENDITURE ON NATURAL GAS POWER GENERATION,
BY REGION, 2022?2024 69
FIGURE 30 IMPORT DATA FOR HS CODE 8411-COMPLIANT PRODUCTS, 2020?2024 70
FIGURE 31 EXPORT DATA FOR HS CODE 8411-COMPLIANT PRODUCTS, 2020?2024 71
FIGURE 32 PORTER'S FIVE FORCES ANALYSIS 82
FIGURE 33 INFLUENCE OF KEY STAKEHOLDERS ON BUYING PROCESS FOR
TOP END-USE APPLICATIONS 83
FIGURE 34 KEY BUYING CRITERIA FOR TOP END-USE APPLICATIONS 84
FIGURE 35 INVESTMENT AND FUNDING SCENARIO, 2020?2024 85
FIGURE 36 IMPACT OF AI/GEN AI ON NATURAL GAS POWER GENERATION SUPPLY
CHAIN, BY REGION 87
FIGURE 37 NATURAL GAS POWER GENERATION MARKET SHARE, BY TECHNOLOGY, 2024 96
FIGURE 38 NATURAL GAS POWER GENERATION MARKET SHARE, BY FUEL SOURCE, 2024 102
FIGURE 39 NATURAL GAS POWER GENERATION MARKET SHARE, BY POWER OUTPUT, 2024 107
FIGURE 40 NATURAL GAS POWER GENERATION MARKET SHARE, BY END-USE
APPLICATION, 2024 116
FIGURE 41 ASIA PACIFIC TO BE FASTEST-GROWING REGION DURING FORECAST PERIOD 123
FIGURE 42 ASIA PACIFIC: NATURAL GAS POWER GENERATION MARKET SNAPSHOT 126
FIGURE 43 MIDDLE EAST & AFRICA: NATURAL GAS POWER GENERATION MARKET SNAPSHOT 158
FIGURE 44 MARKET SHARE ANALYSIS OF COMPANIES OFFERING NATURAL
GAS POWER GENERATION SOLUTIONS, 2024 173
FIGURE 45 NATURAL GAS POWER GENERATION MARKET: REVENUE ANALYSIS
OF TOP FIVE PLAYERS, 2020?2024 174
FIGURE 46 COMPANY VALUATION 175
FIGURE 47 FINANCIAL METRICS (EV/EBITDA) 176
FIGURE 48 BRAND COMPARISON 177
FIGURE 49 NATURAL GAS POWER GENERATION MARKET: COMPANY EVALUATION
MATRIX (KEY PLAYERS), 2024 179
FIGURE 50 NATURAL GAS POWER GENERATION MARKET: COMPANY FOOTPRINT 180
FIGURE 51 NATURAL GAS POWER GENERATION MARKET: COMPANY EVALUATION
MATRIX (STARTUPS/SMES), 2024 186
FIGURE 52 GE VERNOVA: COMPANY SNAPSHOT 192
FIGURE 53 SIEMENS ENERGY: COMPANY SNAPSHOT 198
FIGURE 54 MITSUBISHI HEAVY INDUSTRIES, LTD.: COMPANY SNAPSHOT 202
FIGURE 55 W?RTSIL?: COMPANY SNAPSHOT 206
FIGURE 56 TECOGEN, INC.: COMPANY SNAPSHOT 213
FIGURE 57 FLUOR CORPORATION: COMPANY SNAPSHOT 220
FIGURE 58 WORLEY: COMPANY SNAPSHOT 223
FIGURE 59 CATERPILLAR: COMPANY SNAPSHOT 226
