Gas and steam turbine market: GlobalData provides a snapshot of recent developments and trends

摘要

Fossil fired power plants are struggling to remain relevant as countries across the world try to shift their fuel mix towards renewable sources such as wind and solar. However, fossil fired generating plant, a source of low-cost power, cannot be wished away. Furthermore, fossil-fired capacity will be needed to manage intermittency and provide grid stability as the contribution from renewables increases. There still exists a demand for power plants that are reliable, efficient, and economic. Global installed fossil fired generating capacity, which is presently estimated at 3.9 TW, is therefore expected to increase to around 4.5 TW by 2021, with half that capacity consisting of coal-fired power plants. Gas fired capacity accounted for close to 40% of power generated, in 2016 and the percentage is expected to increase slightly by the end of 2021, helped by the rapid growth in liquefied natural gas availability, which is becoming increasingly accessible across the globe.