Global Annual Capacity Additions from Power Generation Prime Mover Equipment Expected to Near 6 GW by 2026

Natural gas generator sets are forecast to capture more market share from diesel as oil & gas producers use more wellhead gas for power generation

A new report from Navigant Research examines the global market for power generation in upstream oil & gas applications, including onshore and offshore, exploration, and production, providing market forecasts for capacity and revenue, segmented by generation technology and region, through 2026.

Technological advances, regulations, and macroeconomics are expanding the options available to exploration and production (E&P) companies as a variety of new business models are emerging that cut costs, boost efficiency, or otherwise improve operations in this energy-intensive industry. Click to tweet: According to a new report from @NavigantRSRCH, global capacity additions from power generation prime mover equipment are expected to grow from 3.9 GW in 2017 to 5.6 GW by 2026.

“Demand for upstream power generation is returning as oil and gas production recovers, but the energy equation is shifting,” says Adam Forni, senior research analyst with Navigant Research. “Faster production periods, cheaper electricity storage, and growing use of gas fuels are pointing toward growing disruption in this established industry.”

As disruption occurs, natural gas generator sets (gensets) are forecast to capture more market share from diesel as oil & gas producers use more wellhead gas for power generation, according to the report. In addition, as fast-producing shale oil wells shorten project timelines, rentals of power generation equipment are expected to grow. As battery storage declines in price, electricity producers are also expected to incorporate them into a growing share of sites to optimize power production and expand the capabilities of remote microgrids.

The report, Power Generation in the Oil & Gas Industry, analyzes the global market for power generation in upstream O&G applications, including onshore and offshore, exploration, and production. The study provides an analysis of key market developments and covers diesel, dual-fuel, and natural gas gensets, turbines, and microturbines. Global market forecasts for capacity and revenue, segmented by generation technology and region, extend through 2026. The report also examines the key technologies available for power generation in upstream O&G, as well as the competitive landscape. An Executive Summary of the report is available for free download on the Navigant Research website.

Contact: Lindsay Funicello-Paul

+1.781.270.8456

lindsay.funicello.paul@navigant.com

* The information contained in this press release concerning the report, Power Generation in the Oil & Gas Industryis a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.

Register to Receive Updates

Sign up or login to receive free newsletters, research updates, access to webinars, and other analyst content from Navigant Research.

Data Services

An interactive data visualization platform with online access to global forecasts spanning the energy, utility, transportation, and buildings industries.

More Information

Research News

Rss
Global Market Revenue for Internet of Things Lighting Solutions Is Expected to Reach $4.5 Billion in 2026
Networked lighting controls and easy-to-use sensors are driving the evolution from intelligent lighting control systems…
Read More »
Global Revenue for Industrial Internet of Things Devices, Software, and Services Is Expected to Exceed $1 Trillion Between 2017 and 2027
Industrial Internet of Things strategies can help lower operational costs and drive new revenue streams…
Read More »
The Market for Energy Service Companies Is Expected to Grow from $15 Billion in 2017 to More than $30 Billion in 2026
Related business models and financing structures can help organizations realize sustainability mandates while meeting operational,…
Read More »
View All News

{"userID":"","pageName":"Global Annual Capacity Additions from Power Generation Prime Mover Equipment Expected to Near 6 GW by 2026","path":"\/newsroom\/global-annual-capacity-additions-from-power-generation-prime-mover-equipment-expected-to-near-6-gw-by-2026","date":"11\/20\/2017"}