The global natural gas power generation market is suggested to have reached a value of around $37.5 billion by the beginning of 2013. It has been suggested that over 470GW of new global capacity will come online by the end of 2023.
In terms of natural gas reserves, Iran is the second largest player, only behind Russia, and as such has a vast domestic resource to exploit for electricity production. Over 75% of Iran's power generation derives from gas power plants, with the remainder coming from oil and hydropower. The country has an installed capacity of around 60MW.
One of the key players in the global natural gas power generation market is Hitachi. Hitachi is a vast company covering business aspects from IT and communications to major infrastructure developments. The Power Systems division is the umbrella for the company's major power plant developments, which involve thermal, nuclear, solar, hydro and wind generation systems.
The company is perhaps better known for its nuclear development capabilities and has extensive references throughout Japan. However, Hitachi is also a major gas turbine and gas power plant developer, providing some of the most efficient CCGT technology on the market. Their gas turbine solutions are generally on a smaller scale of between 16.9 and 32 MW.For more information on the Global natural gas power generation market, please click here: Global natural gas power generation market
Companiesandmarkets.com issues news updates and report summaries covering all major industries and sectors. The service provides additional client monitoring and timely alerts to breaking industry and sector news leading the day's business headlines. News articles, written by our staff, contain additional analyst insight, providing value added insight for our readers. News updates and real-time alerts on newly-released market reports are also available from our Facebook page, Twitter feed @CandMResearch and RSS links. We also welcome inquiries from business journalists and the news media.