What is Thermal Power Generation Market?
Thermal power generation plant is also known as a thermal power station. It is the conventional source for generating electric power. It is widely used in end-users such as residential & commercial, utilities and industrial. Various advantages of thermal power generation such as land required less than a hydro power plant, the thermal power plant can be installed in any location but transportation and bulk of the water must available, among others.
Highlights from Thermal Power Generation Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Tokyo Electric Power Company Holdings, Inc. (United States), Électricité de France S.A. (France), Enel S.p.A. (Italy), Endesa, S.A. (Spain), Kepco (Japan), Exelon Corporation (United States), The Kansai Electric Power Co., Inc. (Japan), Duke Energy Corporation (United States), Dominion Energy, Inc., (United States) and TXU Corporation (United States) |
The market is highly fragmented with the presence of larger and small players. Some of the key manufacturers operating in the market are Tokyo Electric Power Company Holdings, Inc. (United States), Électricité de France S.A. (France), Enel S.p.A. (Italy), among others Research Analyst at AMA predicts that United States and China Manufacturers will contribute to the maximum growth of Global Thermal Power Generation market throughout the forecasted period.
Tokyo Electric Power Company Holdings, Inc. (United States), Électricité de France S.A. (France), Enel S.p.A. (Italy), Endesa, S.A. (Spain), Kepco (Japan), Exelon Corporation (United States), The Kansai Electric Power Co., Inc. (Japan), Duke Energy Corporation (United States), Dominion Energy, Inc., (United States) and TXU Corporation (United States) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Huaneng (China) and Guodian (China). Thermal Power Generation Market Segmentation:
Scope | Sub-Segments |
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Type | Steam Power Generation, Combined-Cycle Power Generation, ACC Power Generation and MACC Power Generation |
Raw Material | LNG,Heavy Oil,Coal,Others |
End-User | Residential & Commercial,Utilities,Industrial |
On the basis of geography, the market of Thermal Power Generation has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
One of the Latest Trend of this market is Increasing Demand for Thermal Power Generation in HVAC
Market Growth Drivers:
Increasing Impetus on Renewable Energy Generation Such as Concentrated Solar Power and others and Growing Usage of Thermal Power in Various End Users Such as Residential & Commercial, Utilities, and Industrial
Challenges:
Issue Related To High Initial Set-Up Cost for Thermal Power Generation and The Running Cost for a Thermal Power Station is Comparatively High due to Fuel, Maintenance, and Others
Restraints:
Problem Regarding a Large Amount of Smoke Causes Air Pollution across the World
Opportunities:
Government Initiatives to Expand the Thermal Power Generation Market and Growing Demand from Emerging Market such as China, India, Brazil, among others
Key Target Audience
Manufacturers of Thermal Power Generation, Research and Development (R&D) Companies, Research Organization, Federal Agencies and Others
In December 2018, according to the Central Electricity Regulatory Authority (India) has proposed a more than 15.5% return on equity for thermal power generating stations in the draft tariff regulation. Hence, it may act as a hamper for the growth of market in future