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Europe Thermal Power Market Size (2024 - 2029)

The Europe thermal power market is anticipated to experience growth over the forecast period, driven by rising power demands and the transition from coal to gas-powered generation. Despite the challenges posed by the increasing adoption of renewable energy sources like solar and wind, opportunities are expected to arise from advancements in clean coal technology and the development of new natural gas-fired power plants. The market's expansion is further supported by Germany's dominant position, attributed to its growing energy needs and population.

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Market Size of Europe Thermal Power Industry

Europe Thermal Power Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR > 5.00 %
Market Concentration Medium

Major Players

Europe Thermal Power Market Major Players

*Disclaimer: Major Players sorted in no particular order

Europe Thermal Power Market Analysis

The Europe thermal power market is expected to register a CAGR of over 5% during the forecast period.

COVID-19 negatively impacted the market in 2020. Presently the market reached pre-pandemic levels.

  • Over the medium term, increasing power demands and decommissioning coal power plants will likely increase demand for gas-powered power generation. It is expected to drive the Europe thermal power market during the forecast period.
  • On the other hand, the increasing adaption of renewable energy sources like solar and wind energy is expected to hinder Europe's thermal power market growth.
  • Nevertheless, clean coal technology and upcoming natural gas-fired power plants are expected to create significant opportunities in Europe's thermal power market in the future.
  • Germany is expected to dominate the market during the forecasted period due to the increasing demand for energy and population.

Europe Thermal Power Industry Segmentation

Thermal power generation utilizes steam from burning oil, liquid natural gas (LNG), coal, and other substances to rotate generators and create electricity.

Source and Geography segment the Europe thermal power market. The market is segmented by source: Coal, Natural Gas, Oil, and Nuclear. The report also covers the market size and forecasts across major regional countries. The report offers the installed capacity and forecast capacity in gigawatts (GW) for all the above segments.

Source
Coal
Natural Gas
Oil
Nuclear
Geography (Regional Market Analysis {Market Size and Demand Forecast till 2028 (for regions only)})
United Kingdom
France
Germany
Russia
Rest of Europe
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Europe Thermal Power Market Size Summary

The Europe thermal power market is poised for growth, driven by increasing power demands and a shift from coal to gas-powered generation. The market has rebounded to pre-pandemic levels after the setbacks caused by COVID-19. The decommissioning of coal power plants is expected to boost the demand for gas-powered generation, which is seen as a cleaner and more flexible energy source. However, the growing adoption of renewable energy sources like solar and wind presents a challenge to the thermal power market's expansion. Despite this, advancements in clean coal technology and the development of new natural gas-fired power plants are anticipated to offer significant opportunities. Germany is projected to lead the market due to its rising energy needs and population growth, with natural gas playing a crucial role in its energy mix.

Natural gas is increasingly becoming a key component of Europe's thermal power landscape, offering a reliable backup for intermittent renewable energy sources. The ability of gas-fired power plants to quickly ramp up production enhances grid reliability, supporting the market's growth. The geopolitical tensions, particularly the Russia-Ukraine war, have impacted natural gas supply, affecting electricity generation in the region. Nonetheless, countries like Ireland and Poland are investing in new gas-fired power plants to meet rising electricity demands. Germany's reliance on natural gas, despite its environmental commitments, underscores the fuel's importance in the transition away from coal and nuclear energy. The market remains moderately fragmented, with major players like Siemens AG, Enel S.p.A, and Electricite de France SA actively participating in the sector's development.

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Europe Thermal Power Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Installed Capacity and Forecast in GW, till 2028

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitute Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Source

      1. 2.1.1 Coal

      2. 2.1.2 Natural Gas

      3. 2.1.3 Oil

      4. 2.1.4 Nuclear

    2. 2.2 Geography (Regional Market Analysis {Market Size and Demand Forecast till 2028 (for regions only)})

      1. 2.2.1 United Kingdom

      2. 2.2.2 France

      3. 2.2.3 Germany

      4. 2.2.4 Russia

      5. 2.2.5 Rest of Europe

Europe Thermal Power Market Size FAQs

The Europe Thermal Power Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)

Engie SA , Enel S.p.A , Rosatom State Atomic Energy Corporation, Electricite de France SA and Siemens AG are the major companies operating in the Europe Thermal Power Market.

Europe Thermal Power Report Snapshots

Europe Thermal Power Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)