Market Size of Asia-Pacific Thermal Power Plant Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 2.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Asia-Pacific Thermal Power Plant Market Analysis
The Asia-Pacific thermal power plant market is expected to register a CAGR of more than 2.5% during the forecast period.
- Over the medium term, factors such as the increase in industrial operations and energy demand in the developing countries in the region are likely to drive the Asia-Pacific thermal power plant market.
- On the other hand, the increasing share of renewable energy in total energy generation is expected to restrain the Asia-Pacific thermal power plant market.
- Nevertheless, new and efficient technologies like supercritical and ultra-supercritical coal power plants, which reduce the amount of pollution per KW, are expected to replace the aging power plants and are likely going to create several opportunities for the Asia-Pacific thermal power plant market in the future.
Due to its increasing number of projects involving thermal power plants, China is expected to be the largest market for the Asia-Pacific thermal power plant.
Asia-Pacific Thermal Power Plant Industry Segmentation
A thermal power plant is a type of power station that converts heat energy into electric power. It works by burning fossil fuels such as coal, oil, or natural gas to heat water and produce steam, which drives a turbine to generate electricity. The steam is condensed back into water, and the cycle repeats.
The Asia-Pacific Thermal Power Plant is segmented by fuel type and geography. By fuel type, the market is segmented into coal, gas, nuclear, and others. The report also covers the market size and forecasts for the thermal power plant market across major countries in the region. For each segment, market sizing and forecasts have been done based on capacity (MW).
| Fuel Type | |
| Coal | |
| Gas | |
| Nuclear | |
| Other Fuel Types |
| Geography | |
| China | |
| India | |
| Japan | |
| Rest of Asia-Pacific |
Asia-Pacific Thermal Power Plant Market Size Summary
The Asia-Pacific thermal power plant market is poised for growth, driven by increasing industrial activities and energy demand in developing countries within the region. However, the market faces challenges due to the rising share of renewable energy sources in the overall energy mix. Despite this, advancements in technologies such as supercritical and ultra-supercritical coal power plants, which offer reduced pollution per kilowatt, are expected to replace older facilities, presenting new opportunities. China is anticipated to be the largest market in the region, fueled by its numerous thermal power projects and significant coal production, which is primarily used for electricity generation. The rapid industrialization and urbanization in major countries like China and India are key factors propelling the market, while Japan's reliance on coal and natural gas post-nuclear plant closures also contributes to the region's thermal power landscape.
China's burgeoning energy demand, driven by its large population and expanding industrial operations, is a major factor supporting the thermal power plant market's growth. The country has been actively increasing its coal power capacity, reflecting its commitment to meeting energy needs while transitioning towards carbon neutrality by 2060. Additionally, China's gas production industry is on the rise, further boosting the demand for gas-fired power plants. The country's strategic moves, such as the construction of new power plants and the expansion of its nuclear reactor fleet, underscore its dominant position in the Asia-Pacific thermal power plant market. The market remains fragmented, with key players including NTPC Limited, Datang International Power Generation Company Limited, and China Energy Engineering Corporation, among others, actively participating in the region's energy sector developments.
Asia-Pacific Thermal Power Plant Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Asia-Pacific Thermal Power Plant Installed Capacity and Forecast, in Megawatts, till 2028
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1.3 Electricity Generation in TWh, Global, till 2022
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1.4 Electricity Consumption in TWh, Global, till 2022
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1.5 Key Projects Information (Existing, In Pipeline, and Upcoming).
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1.6 Recent Trends and Developments
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1.7 Government Policies and Regulations
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1.8 Market Dynamics
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1.8.1 Drivers
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1.8.2 Restraints
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1.9 Supply Chain Analysis
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1.10 Porter's Five Forces Analysis
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1.10.1 Bargaining Power of Suppliers
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1.10.2 Bargaining Power of Consumers
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1.10.3 Threat of New Entrants
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1.10.4 Threat of Substitute Products and Services
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1.10.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Fuel Type
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2.1.1 Coal
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2.1.2 Gas
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2.1.3 Nuclear
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2.1.4 Other Fuel Types
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2.2 Geography
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2.2.1 China
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2.2.2 India
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2.2.3 Japan
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2.2.4 Rest of Asia-Pacific
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Asia-Pacific Thermal Power Plant Market Size FAQs
What is the current Asia-Pacific Thermal Power Plant Market size?
The Asia-Pacific Thermal Power Plant Market is projected to register a CAGR of greater than 2.5% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Thermal Power Plant Market?
NTPC Limited, Datang International Power Generation Company Limited, China Energy Engineering Corporation (CEEC), Tokyo Electric Power Company Holdings, Inc. and Korea Electric Power Corporation. are the major companies operating in the Asia-Pacific Thermal Power Plant Market.
