Emerging Trends Affecting the Global Oil & Gas Market
From 2015 through 2040, the global power mix is expected to witness a transformation evidenced by the decline in the use of fossil fuels in the electricity generation mix. Fossil fuels were at their peak in 2013 and declined, pulled down by the falling shares of coal and oil.
The power sector is changing. There is an increased demand for digitization, and the need for reliable and affordable power supplies continues to rise.
Regional trends are significantly different in understanding electricity generation mix. The last year has seen divergent trends in the choice of fuel for generation, but several common developments in energy efficiency policies.
Over the forecast period, new regulations in the US will help stimulate a significant increase in the use of gas for power.
Even oil and gas pricing trends are significantly different across regions. In North America, a rebound in gas prices has driven some generators to switch from gas back to coal, though this trend is expected to be short-lived.
Trade patterns continue to change, as the geographical contribution of production and consumption changes. Trade is therefore shifting away from the Atlantic Basin to the Asia-Pacific region.
Many OECD countries have adopted a new wave of energy efficiency policies in recent years due to the increase in energy prices and the rise in energy spending.
About thois report
The power sector is undergoing one of the most profound transformations, especially in terms of divergent trends in the choice of fuel for power generation. However, there are several common developments in energy efficiency policies. This market insight evaluates the emerging trends affecting the global oil and gas market. Further, it discusses key market dynamics, identifies the role of oil and gas in the fuel mix, and explains the impact of the new-generation matrix. The base year is 2014, and the forecast period is 2015 to 2040.