"Actionable Insights to Fuel Your Growth"

Thermal Power Plant Market Size, Share & Industry Analysis By Fuel Type (Coal, Gas, Nuclear, Others), By Capacity (Up-to 400 MW, 400-800 MW, More than 800 MW) And Regional Forecast, 2024-2032

Region :Global | Report ID: FBI106364 | Status : Ongoing

 

KEY MARKET INSIGHTS

Thermal power plants use the heat energy from solid fuel burning to transform water into steam at high pressure and temperature. The steam moves the turbine blade, which drives the generator. That kinetic energy is converted into electrical power by the generator.


The market is primarily driven by rising electricity consumption across the globe as the population growing continuously. The thermal power plant market is also expanding due to rapid industrialization, urbanization, and heavy industry energy requirements.

However, the introduction of environmentally friendly technologies, stringent restrictions regarding greenhouse gas emissions, and health risks connected with coal-fired power generation are projected to restrain the expansion of the thermal power plant market.


  • As per the stated report of IEA, to stay on track for net-zero emissions by 2050, the Net Zero Scenario calls for all subcritical coal-fired power facilities to be phased out by 2030. This will necessitate the shutdown of 870 GW of existing subcritical coal capacity worldwide or around 11% of total power capacity.


Asia Pacific accounted for a significant portion of the global thermal power plant market. The primary drivers driving the market's growth in the region are upcoming thermal power generation projects and expanding industrialization. The market is projected to be fueled by the low cost of coal, which is abundant in the coal-rich Asia Pacific region.


  • According to IEA, In 2020, China's power generated from coal accounted for 4,732 TWh, up from the previous year's 4,445.0 TWh. Coal power generation holds a 66.0% share in China's overall energy mix. 


IMPACT OF COVID-19 ON THE THERMAL POWER PLANT MARKET


The expansion of the thermal power plant market is projected to slow in the current COVID-19 environment. Government-imposed lockdowns have resulted in temporary and even permanent closures of thermal power plants worldwide due to a drop in demand for electricity. However, the easing restrictions, growing energy demand, increasing consumer conscience towards green energy are anticipated to help regain the market.

KEY INSIGHTS


The report will cover the following key insights:


  • Recent Advancements in Thermal Power Plant

  • Key Industry Trends

  • Regulatory Landscape for Thermal Power Plant

  • Key Industry Developments (Mergers, Acquisitions, and Partnerships)

  • Impact of COVID-19 on the Market


ANALYSIS BY FUEL TYPE


According to fuel type, the thermal power plant market can be subdivided into coal, gas, nuclear, and others. Coal is a crucial source of power generation due to its abundant availability and low cost compared to other power generation methods. The thermal power plant had a significant share in 2020 for electricity generation. Coal thermal power plants are likely to continue to be the most extensively utilized thermal power plants, with the highest percentage of the world's electricity power (global) supply. Natural gas-fired thermal power plants are likely to increase, while nuclear and coal-fired power plants are expected to remain stagnant.

ANALYSIS BY CAPACITY


According to capacity, the thermal power plant market can be subdivided up to 400 MW, 400-800 MW, more than 800 MW, etc. More than 800 MW segments dominate the market globally due to the increase in power consumption and increased energy needs in industrial sectors. Other segments such as up to 400 MW and 400-800 MW are in demand in utility sectors for the power generation and supply to the residential, corporate, and transportation sectors globally.

REGIONAL ANALYSIS


To gain extensive insights into the market, Request for Customization


North America region held the second-largest share in the thermal power plant market. The region is projected to be driven by increased investments in natural gas-based thermal power plants. Natural gas generates a lot of electricity in the region, and it's likely to dominate the thermal power market in the following years. Due to increased investment in the industry and the region's most excellent installed capacity of thermal power energy, the United States is predicted to be the largest market for the region's thermal power market.

Europe will also be expected to contribute significantly during the forecast period. With the decommissioning of coal facilities in various countries across the region, the market is projected to be driven by natural gas-based power generation. The industry is projected to be moved further by forthcoming nuclear projects in Russia and France's enormous reliance on nuclear energy. Although coal and nuclear power are projected to decline, natural gas will provide enough prospects shortly with planned developments. In the upcoming years, Russia is expected to grow at a significant pace due to the highest electricity consumption, expanding natural gas output, and planned projects.

KEY PLAYERS COVERED


The report will include key players such as China Huaneng Group Co. Ltd., American Electric Power Company, Eskom Holdings SOC Ltd., Duke Energy Corporation, Dominion Energy Solutions Inc., NTPC Limited, RWE Aktiengesellschaft, Jindal India Thermal Power Limited, and Tenaga Nasional Berhad.

SEGMENTATION
















By Fuel Type


By Capacity


By Geography



  • Coal

  • Gas

  • Nuclear

  • Others



 

 


  • Up-to 400 MW

  • 400-800 MW

  • More than 800 MW


 

 



  • North America (US and Canada)

  • Europe (UK, Germany, France, Italy, Spain, Russia, and Rest of Europe)

  • Asia Pacific (China, Australia, India, Southeast Asia, and Rest of Asia Pacific)

  • Latin America (Brazil, Mexico, and Rest of Latin America)

  • Middle East and Africa (South Africa, GCC, and Rest of Middle East and Africa)



KEY INDUSTRY DEVELOPMENTS



  • In October 2021, American Electric Power agreed to sell its Kentucky businesses, including Kentucky Power and AEP Kentucky Transco, to Liberty, parent company Algonquin Power & Utilities Corp's regulated utility subsidiary, for a US$ 2.846 billion enterprise value.

  • In January 2021, Huaneng announced to add more than 80GW of clean energy power capacity, bringing clean energy to more than half of the company's total installed generation capacity by 2020.





  • Ongoing
  • 2023
  • 2019-2022

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Energy & Power Clients

Itic
Caterpillar
The Japan Research
Fujifilm
Abb

Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X