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

The Thermal Power Industry is Segmented by Fuel Type (Coal, Gas, Nuclear and Others), and Geography (North America, Asia-Pacific, Europe, South America, and Middle-East and Africa)

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

Thermal Power Market Size

thermal power market analysis
Study Period 2020 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
CAGR 0.58 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration High

Major Players

thermal power market major players

*Disclaimer: Major Players sorted in no particular order

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

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Thermal Power Market Analysis

The Thermal Power Market is expected to register a CAGR of 0.58% during the forecast period.

  • Natural gas power plants are going to be the fastest-growing segment. It is expected to grow due to its low carbon emission, low construction cost and highest efficiency (according to heat rate Btu/KWh) among the thermal power plants.
  • Coal thermal power plants are expected to remain the most widely used thermal power plant and are expected to have the largest share in the electricity power (global) supply, in 2025, in the world. More Efficient technologies like Ultra Supercritical Coal Technology, which also reduces the amount of Pollution (per KW), are expected to replace the aged power plants and become an opportunity in the market.
  • The Asia Pacific region is expected to dominate the market, with much of the demand coming from countries such as China and India.

Thermal Power Industry Overview

The market concentration is consolidated. Some of the key companies in the market include Siemens AG, National Thermal Power Corporation Limited, Chubu Electric Power Company Inc., General Electric Company and Electricite de France S.A.

Thermal Power Market Leaders

  1. Siemens AG

  2. National Thermal Power Corporation Limited

  3. Chubu Electric Power Company Inc.

  4. General Electric Company

  5. Electricite de France S.A.

  6. *Disclaimer: Major Players sorted in no particular order
Siemens AG, National Thermal Power Corporation Limited, Chubu Electric Power Company Inc., General Electric Company
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Thermal Power Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the study
  • 1.2 Market definition
  • 1.3 Study Assumptions

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Market Size and Demand Forecast in USD billion, till 2025
  • 4.3 Thermal Plant Count & Forecast, Global, till 2025
  • 4.4 Electricity Generation Forecast in Twh, Global, till 2025
  • 4.5 Electricity Consumption Forecast in Twh, Global, till 2025
  • 4.6 Recent Trends and Developments
  • 4.7 Government Policies and Regulations
  • 4.8 Market Dynamics
    • 4.8.1 Drivers
    • 4.8.2 Restraint
  • 4.9 Supply Chain Analysis
  • 4.10 Porter's Five Forces Analysis
    • 4.10.1 Bargaining Power of Suppliers
    • 4.10.2 Bargaining Power of Consumers
    • 4.10.3 Threat of New Entrants
    • 4.10.4 Threat of Substitutes Products and Services
    • 4.10.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION

  • 5.1 Fuel Type
    • 5.1.1 Coal
    • 5.1.2 Gas
    • 5.1.3 Nuclear
    • 5.1.4 Others
  • 5.2 Geography
    • 5.2.1 North America
    • 5.2.2 Asia-Pacific
    • 5.2.3 Europe
    • 5.2.4 South America
    • 5.2.5 Middle-East and Africa

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 Electricite de France S.A.
    • 6.3.2 Chubu Electric Power Co., Inc.
    • 6.3.3 Siemens AG
    • 6.3.4 General Electric Company
    • 6.3.5 Iberdrola, S.A.
    • 6.3.6 ENGIE
    • 6.3.7 National Thermal Power Corporation Limited
    • 6.3.8 Tokyo Electric Power Company
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Thermal Power Industry Segmentation

The thermal power market report includes:

Fuel Type Coal
Gas
Nuclear
Others
Geography North America
Asia-Pacific
Europe
South America
Middle-East and Africa
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Thermal Power Market Research FAQs

What is the current Thermal Power Market size?

The Thermal Power Market is projected to register a CAGR of 0.58% during the forecast period (2025-2030)

Who are the key players in Thermal Power Market?

Siemens AG, National Thermal Power Corporation Limited, Chubu Electric Power Company Inc., General Electric Company and Electricite de France S.A. are the major companies operating in the Thermal Power Market.

Which is the fastest growing region in Thermal Power Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Thermal Power Market?

In 2025, the Asia Pacific accounts for the largest market share in Thermal Power Market.

What years does this Thermal Power Market cover?

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

Thermal Power Plant Industry Report

Statistics for the 2025 Thermal Power market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. 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.