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Global Progress Towards a Low-Carbon Society Remains Slow Says Frost & Sullivan - The major trends that will impact the global power industry analysed in a new study - Gas-fired additions to take centre stage - Energy.Frost.com
Global Progress Towards a Low-Carbon Society Remains Slow Says Frost & Sullivan

 

NewswireToday - /newswire/ - London, United Kingdom, 2014/11/21 - The major trends that will impact the global power industry analysed in a new study - Gas-fired additions to take centre stage - Energy.Frost.com.

   
 
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The global power generation industry is seeing differing trends across developed and emerging regions. While gas-fired power generation will register a substantial net increase globally, coal-fired capacities will witness major growth only in emerging regions. Coal-based generation will decline rapidly in North America and even faster in Europe post 2020 as new emission legislations come into operation.

Recent analysis from Frost & Sullivan, Annual Global Power Generation Forecasts 2014, finds that the global installed power generation capacity is forecast to rise from 5,640 gigawatts (GW) in 2012 to 9,266 GW in 2030. During the same period, electricity generation will grow from 22,441 terawatt hour (TWh) to reach 34,458 TWh.

For complimentary access to more information on this research, please visit: corpcom.frost.com/forms/EU_PR_CCarella_M96B-14_08Oct14.

“Although generation from all fuel sources apart from oil will increase, coal will remain the dominant source, accounting for nearly 26 percent of the installed capacity and almost 34 percent of generation in 2030,” says Frost & Sullivan Energy and Environmental Industry Director Harald Thaler. “Gas, however, is expected to catch up rapidly.”

Major market trends include:

• Boom in gas-fired additions owing to the need for cleaner, more flexible generating systems and the higher global gas output.
• Massive capacity expansion in North America as a result of vast shale gas discoveries; gas-based power will gain pace in the Middle East and China as well.
• Strong growth in renewable energy demand across the world. The main driver for this is governments’ focus on curbing fossil fuel emissions, partly to comply with international agreements on climate change and partly to support new industries in the field of green economy.
• North America and Asia outpacing Europe in terms of renewable capacity development as the region scales back its support programmes amid weak power demand growth and governmental austerity drives.

Still, global progress towards a low-carbon energy system will remain slow. This is mainly due to low capacity factors for most renewable forms of power generation when compared with conventional power.

“As such, the share of carbon-free power will go up only gradually; from 32 percent in 2012 it will grow to 38 percent in 2020 and reach 42 percent in 2030,” notes Thaler. “Nevertheless, the additional 809 GW of gas capacity due to be operational by 2030 will contribute significantly towards a lower-carbon fuel mix, powering the global industry towards more carbon-free production.”

Annual Global Power Generation Forecasts 2014 is part of the Energy & Power (energy.frost.com) Growth Partnership Service program. Frost & Sullivan’s related studies include: European Power Plant Services Market, Global Solar Power Market, Global Subsea Equipment Market, and Global Gas and Steam Turbine Markets. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

About Frost & Sullivan
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Our “Growth Partnership” supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.

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Annual Global Power Generation Forecasts 2014 / M96B-14

 
 
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Global Progress Towards a Low-Carbon Society Remains Slow Says Frost & Sullivan

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Frost & Sullivan | Global Power Generation
Publisher Contact: Chiara Carella - Frost.com 
+44(0)20 7343 8314 / +44(0)75 3301 7689 (mobile) chiara.carella[.]frost.com
 
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