The Thermal Power Generation Market research report provides a detailed analysis of diverse segments across 6 regions and 25 countries including Type (Steam, Combined-Cycle, ACC, MACC), Source (Gas, Oil, Coal, Others), and End-User (Residential, Commercial, Industrial, Utilities).
Productivity, technology enablement, and sustainability remain the key market-driving forces in the global Thermal Power Generation industry landscape. Companies that invest in that supply chain and operational resiliency are poised to gain a competitive edge over other market players. The global energy investments are set to increase from around $1,652 Billion in 2024 to $2845 Billion in 2040. As the world is making steady progress towards net zero, energy security, affordability, and industrial competitiveness remain key focus areas of most Thermal Power Generation companies. The Thermal Power Generation demand trajectory varies based on multiple scenarios, from macroeconomic conditions, regulatory support, investment scenarios, and the global landscape. Decision makers across the Thermal Power Generation industry value chain formulating long-term transition strategies with a diverse range of future scenarios are likely to stay ahead of the competition curve.
In the thermal power generation market, there's a trend towards the production of electricity through the combustion of fossil fuels such as coal, natural gas, and oil. Innovations in thermal power plant efficiency, emission control technologies, and transition to cleaner fuels are prevalent trends. Additionally, the adoption of combined cycle power plants, advanced steam turbines, and integrated gasification combined cycle systems is gaining traction. Moreover, advancements in digitalization and predictive maintenance practices in thermal power plants are shaping the market.
Key drivers propelling the thermal power generation market include the global demand for electricity, industrial growth, and the existing infrastructure of thermal power plants. Thermal power offers advantages such as reliability, dispatchability, and established technology, driving its continued use in power generation. Moreover, the need for baseload power and the growing energy demand in developing economies contribute significantly to market growth.
Opportunities in the thermal power generation market lie in upgrading existing plants for improved efficiency and emissions control. Collaboration with utilities and technology providers for modernizing thermal power plants offers significant growth prospects. Moreover, investing in research and development for cleaner and more efficient combustion technologies can unlock new avenues for market expansion. Exploring markets with evolving emission regulations and integrating renewable energy sources with thermal power plants can further drive market growth and contribute to the transition towards cleaner and more sustainable power generation methods.
Thermal Power Generation involves the production of electricity through the conversion of heat energy into electrical energy. This process commonly utilizes fossil fuels, such as coal, natural gas, or oil, to produce steam that drives turbines connected to generators. Thermal power plants are a significant source of electricity globally, but concerns exist regarding their environmental impact due to greenhouse gas emissions.
By Type
• Steam Power Generation
• Combined-Cycle Power Generation
• ACC Power Generation
• MACC Power Generation
By Raw Material
• Gas
• Oil
• Coal
• Others
By End-User
• Residential
• Commercial
• Industrial
• Utilities
• China Guodian Corporation
• China Huaneng Group
• Dominion Energy, Inc.
• Duke Energy Corporation
• Électricité de France S.A.
• Endesa, S.A.
• Enel S.p.A.
• Exelon Corporation
• Korea Electric Power Corporation (KEPCO)
• The Kansai Electric Power Co., Inc.
• Tokyo Electric Power Company Holdings, Inc.
• TXU Corporation
*List not exhaistive
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TABLE OF CONTENTS
1 INTRODUCTION TO 2024 Thermal Power Generation MARKETS
1.1 Market Overview
1.2 Quick Facts
1.3 Scope/Objective of the Study
1.4 Market Definition
1.5 Countries and Regions Analyzed
1.6 Units, Currency, and Conversions
1.7 Industry Value Chain
2 RESEARCH METHODOLOGY
2.1 Market Size Estimation
2.2 Sources and Research Methodology
2.3 Data Triangulation
2.4 Assumptions and Limitations
3 EXECUTIVE SUMMARY
3.1 Global Thermal Power Generation Market Size Outlook, $ Million, 2021 to 2030
3.2 Thermal Power Generation Market Outlook by Type, $ Million, 2021 to 2030
3.3 Thermal Power Generation Market Outlook by Product, $ Million, 2021 to 2030
3.4 Thermal Power Generation Market Outlook by Application, $ Million, 2021 to 2030
3.5 Thermal Power Generation Market Outlook by Key Countries, $ Million, 2021 to 2030
4 MARKET DYNAMICS
4.1 Key Driving Forces of Thermal Power Generation Industry
4.2 Key Market Trends in Thermal Power Generation Industry
4.3 Potential Opportunities in Thermal Power Generation Industry
4.4 Key Challenges in Thermal Power Generation Industry
5 MARKET FACTOR ANALYSIS
5.1 Competitive Landscape
5.1.1 Global Thermal Power Generation Market Share by Company
5.1.2 Product Offerings by Company
5.2 Porter’s Five Forces Analysis
6 GROWTH OUTLOOK ACROSS SCENARIOS
6.1 Growth Analysis-Case Scenario Definitions
6.2 Low Growth Scenario Forecasts
6.3 Reference Growth Scenario Forecasts
6.4 High Growth Scenario Forecasts
7 GLOBAL Thermal Power Generation MARKET OUTLOOK BY SEGMENTS
7.1 Thermal Power Generation Market Outlook by Segments
Type
- Steam Power Generation
- Combined-Cycle Power Generation
- ACC Power Generation
- MACC Power Generation
Raw Material
- Gas
- Oil
- Coal
- Others
End-User
- Residential
- Commercial
- Industrial
- Utilities
8 NORTH AMERICA Thermal Power Generation MARKET ANALYSIS AND OUTLOOK TO 2030
8.1 Introduction to North America Thermal Power Generation Markets in 2024
8.2 North America Thermal Power Generation Market Size Outlook by Country, 2021-2030
8.2.1 United States
8.2.2 Canada
8.2.3 Mexico
8.3 North America Thermal Power Generation Market size Outlook by Segments, 2021-2030
Type
- Steam Power Generation
- Combined-Cycle Power Generation
- ACC Power Generation
- MACC Power Generation
Raw Material
- Gas
- Oil
- Coal
- Others
End-User
- Residential
- Commercial
- Industrial
- Utilities
9 EUROPE Thermal Power Generation MARKET ANALYSIS AND OUTLOOK TO 2030
9.1 Introduction to Europe Thermal Power Generation Markets in 2024
9.2 Europe Thermal Power Generation Market Size Outlook by Country, 2021-2030
9.2.1 Germany
9.2.2 France
9.2.3 Spain
9.2.4 United Kingdom
9.2.4 Italy
9.2.5 Russia
9.2.6 Norway
9.2.7 Rest of Europe
9.3 Europe Thermal Power Generation Market size Outlook by Segments, 2021-2030
Type
- Steam Power Generation
- Combined-Cycle Power Generation
- ACC Power Generation
- MACC Power Generation
Raw Material
- Gas
- Oil
- Coal
- Others
End-User
- Residential
- Commercial
- Industrial
- Utilities
10 ASIA PACIFIC Thermal Power Generation MARKET ANALYSIS AND OUTLOOK TO 2030
10.1 Introduction to Asia Pacific Thermal Power Generation Markets in 2024
10.2 Asia Pacific Thermal Power Generation Market Size Outlook by Country, 2021-2030
10.2.1 China
10.2.2 India
10.2.3 Japan
10.2.4 South Korea
10.2.5 Indonesia
10.2.6 Malaysia
10.2.7 Australia
10.2.8 Rest of Asia Pacific
10.3 Asia Pacific Thermal Power Generation Market size Outlook by Segments, 2021-2030
Type
- Steam Power Generation
- Combined-Cycle Power Generation
- ACC Power Generation
- MACC Power Generation
Raw Material
- Gas
- Oil
- Coal
- Others
End-User
- Residential
- Commercial
- Industrial
- Utilities
11 SOUTH AMERICA Thermal Power Generation MARKET ANALYSIS AND OUTLOOK TO 2030
11.1 Introduction to South America Thermal Power Generation Markets in 2024
11.2 South America Thermal Power Generation Market Size Outlook by Country, 2021-2030
11.2.1 Brazil
11.2.2 Argentina
11.2.3 Rest of South America
11.3 South America Thermal Power Generation Market size Outlook by Segments, 2021-2030
Type
- Steam Power Generation
- Combined-Cycle Power Generation
- ACC Power Generation
- MACC Power Generation
Raw Material
- Gas
- Oil
- Coal
- Others
End-User
- Residential
- Commercial
- Industrial
- Utilities
12 MIDDLE EAST AND AFRICA Thermal Power Generation MARKET ANALYSIS AND OUTLOOK TO 2030
12.1 Introduction to Middle East and Africa Thermal Power Generation Markets in 2024
12.2 Middle East and Africa Thermal Power Generation Market Size Outlook by Country, 2021-2030
12.2.1 Saudi Arabia
12.2.2 UAE
12.2.3 Oman
12.2.4 Rest of Middle East
12.2.5 Egypt
12.2.6 Nigeria
12.2.7 South Africa
12.2.8 Rest of Africa
12.3 Middle East and Africa Thermal Power Generation Market size Outlook by Segments, 2021-2030
Type
- Steam Power Generation
- Combined-Cycle Power Generation
- ACC Power Generation
- MACC Power Generation
Raw Material
- Gas
- Oil
- Coal
- Others
End-User
- Residential
- Commercial
- Industrial
- Utilities
13 COMPANY PROFILES
13.1 Company Snapshot
13.2 SWOT Profiles
13.3 Products and Services
13.4 Recent Developments
13.5 Financial Profile
List of Companies
- China Guodian Corporation
- China Huaneng Group
- Dominion Energy, Inc.
- Duke Energy Corporation
- Électricité de France S.A.
- Endesa, S.A.
- Enel S.p.A.
- Exelon Corporation
- Korea Electric Power Corporation (KEPCO)
- The Kansai Electric Power Co., Inc.
- Tokyo Electric Power Company Holdings, Inc.
- TXU Corporation
14 APPENDIX
14.1 Customization Offerings
14.2 Subscription Services
14.3 Related Reports
14.4 Publisher Expertise
By Type
• Steam Power Generation
• Combined-Cycle Power Generation
• ACC Power Generation
• MACC Power Generation
By Raw Material
• Gas
• Oil
• Coal
• Others
By End-User
• Residential
• Commercial
• Industrial
• Utilities
The global Thermal Power Generation Market is one of the lucrative growth markets, poised to register a 3.7% growth (CAGR) between 2024 and 2030.
Emerging Markets across Asia Pacific, Europe, and Americas present robust growth prospects.
China Guodian Corporation, China Huaneng Group, Dominion Energy, Inc., Duke Energy Corporation, Électricité de France S.A., Endesa, S.A., Enel S.p.A., Exelon Corporation, Korea Electric Power Corporation (KEPCO), The Kansai Electric Power Co., Inc., Tokyo Electric Power Company Holdings, Inc., TXU Corporation
Base Year- 2023; Estimated Year- 2024; Historic Period- 2018-2023; Forecast period- 2024 to 2030; Currency: USD; Volume