DUBLIN--(BUSINESS WIRE)--The "Thermal Power Plant Market by Fuel Type: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.

The global thermal power plant market was valued at $1,345.0 billion in 2020, and is projected to reach $1,820.7 billion by 2030, growing at a CAGR of 3.2% from 2021 to 2030.

Thermal power plants convert the heat energy of primary fuels such as coal, to electric power. In most of the thermal power plants, combustion of primary fuels heats the water and transforms it to steam. The steam drives steam turbines, which eventually generates electricity. Subsequently, the steam is condensed and recycled back into the system. The thermal power plants may use several different types of heat sources, including fossil fuels, nuclear energy, biomass and waste.

The global thermal power plant market is primarily driven by surge in demand for electricity is expected to augment the market growth of coal-fired power generation. This is attributed to the increasing population which is creating demand for the residential sector. Rapid industrialization and urbanization along with the need for the energy in heavy industries is again expected to propel the growth of thermal power plant market. Thus, the surge in demand for electricity is projected to propel the market growth.

However, advent of environmentally friendly technologies, strict regulations regarding greenhouse gas emissions, and health issues associated with the coal-fired power generation are expected to hamper the growth of the thermal power plant market during the forecast period. Furthermore, advancement in combustion technologies is expected to provide growth opportunities for the thermal power plant market during the forecast period.

The thermal power plant market size is segmented on the basis of fuel type and region. By fuel type, it is analyzed across coal, gas, nuclear, and others. Region-wise, it is studied across North America, Europe, Asia-Pacific, and LAMEA.

Key Benefits

• Porter's five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
• The report outlines the current trends and future scenario of the global thermal power plant market from 2020 to 2030 to understand the prevailing opportunities and potential investment pockets.
• Major countries in major regions have been mapped according to their individual revenue contribution to the regional market.
• The key drivers, restraints, & opportunities and their detailed impact analysis are explained in the global thermal power plant market study.
• The profiles of key players and with their key strategic developments are enlisted in the global thermal power plant market report.

Market Dynamics

Drivers

• Easy availability of raw materials across the Asia-Pacific region
• Increase in demand for natural gas-fired thermal power plants
• Rise in Demand for Electricity

Restraint

• Generation of huge amounts of polluting gases

Opportunity

• Adoption of ultra-supercritical coal technology

Key Segments

By Fuel Type

• Coal
• Gas
• Nuclear
• Others

By Region

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Rest of Europe
• Asia-Pacific
• China
• Japan
• South Korea
• India
• Australia
• Rest of Asia-Pacific
• LAMEA
• Brazil
• Saudi Arabia
• South Africa
• Rest of LAMEA

Company Profiles

• American Electric Power Company
• China Huaneng Group Co. Ltd.
• Dominion Energy Solutions Inc.
• Duke Energy Corporation
• Eskom Holdings Soc Ltd.
• NTPC Limited
• Rwe Aktiengesellschaft
• Tenaga Nasional Berhad
• Jindal India Thermal Power Limited

For more information about this report visit https://www.researchandmarkets.com/r/fb04ih

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