Global Trends in Power Generation : Unconventional Oil and Gas Resources Provide Mixed Bag of Opportunities for Process Equipment Suppliers

Global Trends in Power Generation : Unconventional Oil and Gas Resources Provide Mixed Bag of Opportunities for Process Equipment Suppliers

  • April 2015 •
  • 36 pages •
  • Report ID: 2851854 •
  • Format: PDF
Key Trends in the Global Economy

It is estimated that on the global level, liquids consumption is bound to increase the most in the industrial and transportation sectors.
Rising oil prices will result in both a switch toward alternative fuel sources and a reduction in consumption in the residential and commercial sectors.
Improving quality of life and the projected increase in spending power per person are believed to result in an increase in energy consumption in the transportation sector.
Of the four sectors (industrial, transportation, residential, and commercial), the industrial sector has been predicted to be one of the highest consumers of energy.

Global Energy Demand Set to Grow Over the Next Decades

•The Non-Organisation for Economic Co-operation and Development (OECD) countries will exhibit a year-on-year growth of x % in energy consumption ( x % of the global growth) in 2015.
•Fuelled by the global GDP growth, the energy demand is predicted to grow by roughly x % annually in the non-OECD countries as compared to x % in the OECD countries.
•The Asia-Pacific (APAC) region will witness the highest growth, accounting for x % of the energy production by 2030.
•The annual energy consumption of OECD countries is likely to be just x % higher in 2030 than that in 2011 ( x % per annum).

Gas Generation to Significantly Increase but Coal will Dominate up to 2030

•Gas will increasingly replace coal in OECD countries as commercial carbon dioxide capture and storage (CCS) is a long way off.
•In non-OECD markets, investment will be undertaken in both gas and coal.
•China and India are the largest consumers of coal, currently accounting for x % and x % of the global demand respectively. China and India are likely to account for x % and x % respectively of the demand for coal up to 2030.
•Oil is expected to be slowest growing fuel (heavy fuel oil [HFO] will be used as a reserve fuel in most countries) over the forecast period.
•Renewables are likely to exhibit strong growth across geographies.