Thermal Power Plant Market in Canada Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Canada Thermal Power Plant Market Report is Segmented by Fuel Type (Coal, Natural Gas, Nuclear, and Oil). The market size and forecasts are provided in terms of installed capacity (MW) for all the above segments.

Thermal Power Plant Market in Canada Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Canada Thermal Power Market Size

View Global Report
Canada Thermal Power Market Summary
Study Period 2019 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2019 - 2023
CAGR 1.00 %
Market Concentration Medium

Major Players

Canada Thermal Power Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Canada Thermal Power Market with other markets in Energy & Power Industry

Oil and Gas

Power

Battery

Decommissioning

Emerging Energy Technologies

Energy Storage Technology

Canada Thermal Power Market Analysis

The Canada Thermal Power Market is expected to register a CAGR of greater than 1% during the forecast period.

  • Long-term, more people and more electricity use would lead to more electricity being needed.With growing power demand, new thermal power projects such as nuclear are being planned and constructed, which, in turn, would drive the market significantly.
  • On the other hand, phasing out coal-based thermal plants and rising competition from renewables are a few restraints to market growth.
  • Still, Canada's large natural gas reserves are a chance for the country to become less reliant on foreign energy sources and could help the thermal power market grow.

Canada Thermal Power Industry Overview

The Canadian thermal power market is moderately consolidated. Some of the major companies in the market (in no particular order) include SaskPower International Inc., Emera Inc., TransAlta Corporation, Ontario Power Generation Inc., and Northland Power Inc., among others.

Canada Thermal Power Market Leaders

  1. Emera Inc

  2. SaskPower International Inc

  3. TransAlta Corporation

  4. Ontario Power Generation Inc

  5. Northland Power Inc.

  6. *Disclaimer: Major Players sorted in no particular order
Canada Thermal Power Market Concentration
Need More Details on Market Players and Competiters?
Download PDF

Canada Thermal Power Market News

  • January 2023: X-energy Canada and Invest Alberta signed a memorandum of understanding to find ways for the Xe-small modular reactor ("SMR") to be used in Canada without hurting the economy.Xe-100 is a high-temperature gas-cooled reactor. This clean energy solution would support heavy industries, including oil sand operations, petrochemicals, and other industrial processes.
  • October 2022: The Canada Infrastructure Bank (CIB) announced its agreement with Ontario Power Generation (OPG) and committed USD 721 million to the development & construction of Canada's first small modular reactor (SMR). The capacity of SMR is 300 MW, and this project would also cater to Canada's efforts to become a global SMR technology hub in a market estimated to be USD 150 billion per year by 2040.

Canada Thermal Power Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of Study
  • 1.2 Market Definiton
  • 1.3 Study Assumptions

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Installed Capacity and Forecast in MW, till 2028
  • 4.3 Recent Trends and Developments
  • 4.4 Government Policies and Regulations
  • 4.5 Market Dynamics
    • 4.5.1 Drivers
    • 4.5.2 Restraints
  • 4.6 Supply Chain Analysis
  • 4.7 PESTLE Analysis

5. MARKET SEGMENTATION

  • 5.1 Source
    • 5.1.1 Oil
    • 5.1.2 Natural Gas
    • 5.1.3 Nuclear
    • 5.1.4 Coal

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Strategies Adopted by Leading Players
  • 6.3 Company Profiles
    • 6.3.1 Emera Inc.
    • 6.3.2 SaskPower International Inc.
    • 6.3.3 TransAlta Corporation
    • 6.3.4 Ontario Power Generation Inc.
    • 6.3.5 Northland Power Inc.
    • 6.3.6 Atco Power Ltd.
    • 6.3.7 Maxim Power Corp
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
You Can Purchase Parts Of This Report. Check Out Prices For Specific Sections
Get Price Break-up Now

Canada Thermal Power Industry Segmentation

Thermal power plants are power stations that transform heat energy into electric energy. Burning oil, liquid natural gas (LNG), nuclear fuel, and other materials results in thermal power, which turns generators and generates electricity.This generation usually provides electricity because it can cater to various power demands from industrial, commercial, and residential customers.

The fuel type is a segment in Canada's thermal power market. By fuel type, the market is segmented into coal, natural gas, nuclear, and oil. For each segment, market sizing and forecasts have been done based on installed capacity (MW).

Source Oil
Natural Gas
Nuclear
Coal
Need A Different Region or Segment?
Customize Now

Canada Thermal Power Market Research FAQs

What is the current Canada Thermal Power Market size?

The Canada Thermal Power Market is projected to register a CAGR of greater than 1% during the forecast period (2025-2030)

Who are the key players in Canada Thermal Power Market?

Emera Inc, SaskPower International Inc, TransAlta Corporation, Ontario Power Generation Inc and Northland Power Inc. are the major companies operating in the Canada Thermal Power Market.

What years does this Canada Thermal Power Market cover?

The report covers the Canada Thermal Power Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Canada Thermal Power Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Canada Thermal Power Industry Report

Statistics for the 2025 Canada Thermal Power market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Canada Thermal Power analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.