Conventional generation will continue to dominate global installed capacity, although compared to years ago, investment in gas is projected to increase at a greater rate, at the expense of coal and nuclear.
Utilities in liberalised markets—essentially most of Europe and parts of North America—are facing a massive challenge to their traditional business model from the growth in decentralised generation, mainly renewable based. Gas plants in Europe with a total capacity of GW have been mothballed since 2012.
The power generation equipment market is undergoing globalisation, with a number of significant mergers and takeovers in the last years. Scale is becoming the key to competing in the industry.
Russia and Europe remain dependent on each other in a gas supplier-customer relationship. Although there is a potential for issues to crop up between Russia and Ukraine, major disruptions to European supply are unlikely because of the co-dependence.
Shale gas is unlikely to play a major role in global gas supply until the mid-2020s due to a range of technical, political, and environmental challenges. There have already been disappointments in test drilling in several European states and there is potential for more bad news in other countries and regions.
About this report
This annual global power and energy outlook provides an updated insight of the key developments in the power and energy sector, with particular focus on the significant events in the last 12 to18 months and likely implications for the future. It offers insights on a number of key markets and highlights the growth opportunities and challenges for the future. The outlook offers valuable analysis, not only for the power and energy sector, but also for adjacent industries such as chemicals and industrial automation.
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