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

The Report Covers Thermal Power Plant Companies in India and the Market is segmented by fuel type (coal, gas, nuclear, and other fuel types). The market size and forecasts are Provided in capacity (MW) for all the above segments.

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

India Thermal Power Plant Market Size

India Thermal Power Plant Market Summary
Study Period 2019 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2019 - 2023
CAGR 2.30 %
Market Concentration Low

Major Players

India Thermal Power Plant Market Major Players

*Disclaimer: Major Players sorted in no particular order

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

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India Thermal Power Plant Market Analysis

The India Thermal Power Plant Market is expected to register a CAGR of greater than 2.3% during the forecast period.

Although the market studied was affected by COVID-19 in 2020, currently it has recovered and reached pre-pandemic levels.

  • Over the medium term, factors like the increasing industrial operations and several government initiatives to provide electricity throughout the country are likely to drive the Indian thermal power plant market.
  • On the other hand, the growing share of renewable energy in total energy generation is expected to restrain the market.
  • Nevertheless, new and efficient technologies like supercritical and ultra-supercritical coal power plants, which reduce the amount of pollution, are expected to replace the aging power plants and create several opportunities for the Indian thermal power plant market in the future.

India Thermal Power Plant Industry Overview

The Indian thermal power plant market is moderately fragmented. Some of the key players in the market (in no particular order) include NTPC Limited, Adani Group, Maharashtra State Power Generation Company, Nuclear Power Corporation of India (NPCIL), and India Power Corporation Ltd., among others.

India Thermal Power Plant Market Leaders

  1. Nuclear Power Corporation of India (NPCIL)

  2. India Power Corporation Ltd

  3. NTPC Limited

  4. Adani Power Limited

  5. Maharashtra State Power Generation Co. Ltd

  6. *Disclaimer: Major Players sorted in no particular order
India Thermal Power Plant Market Concentration
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India Thermal Power Plant Market News

  • February 2023: The Indian government re-imposed the emergency clause of the Electricity Act, 2003, requiring all imported coal-based (ICB) power plants in India to operate and generate power at their full capacity during the ensuing summer months. According to an order issued by the Ministry of Power, peak electricity demand is expected to reach 229 gigawatts (GW) in April 2023, thus requiring the government to take this decision.
  • November 2022: Under an engineering, procurement, and construction (EPC) contract, Wärtsilä was to construct a 15.5 MW gas-fired captive power plant in Chennai, Tamil Nadu, India, as well as operate and maintain the plant for five years. A manufacturer of linear alkyl benzene (LAB) and heavy chemicals, Tamilnadu Petroproducts Limited (TPL), part of AM International, Singapore, placed the order.

India Thermal Power Plant Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. EXECUTIVE SUMMARY

3. RESEARCH METHODOLOGY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 India Thermal Power Plant Installed Capacity and Forecast, in Megawatts, till 2028
  • 4.3 Electricity Generation in Twh, Global, till 2022
  • 4.4 Electricity Consumption in Twh, Global, till 2022
  • 4.5 Key Projects Information (Existing, In Pipeline, and Upcoming)
  • 4.6 Recent Trends and Developments
  • 4.7 Government Policies and Regulations
  • 4.8 Market Dynamics
    • 4.8.1 Drivers
    • 4.8.2 Restraints
  • 4.9 Supply Chain Analysis
  • 4.10 PESTLE Analysis

5. MARKET SEGMENTATION

  • 5.1 Fuel Type
    • 5.1.1 Coal
    • 5.1.2 Gas
    • 5.1.3 Nuclear
    • 5.1.4 Other Fuel Types

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers, Acquisitions, Collaborations, and Joint Ventures
  • 6.2 Strategies Adopted by Key Players
  • 6.3 Company Profiles
    • 6.3.1 NTPC Limited
    • 6.3.2 Adani Power Limited
    • 6.3.3 Tata Group
    • 6.3.4 Reliance Power Limited
    • 6.3.5 Maharashtra State Power Generation Co. Ltd
    • 6.3.6 Nuclear Power Corporation of India (NPCIL)
    • 6.3.7 India Power Corporation Ltd
    • 6.3.8 Jindal Steel & Power Limited
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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India Thermal Power Plant Industry Segmentation

A thermal power plant is a facility that generates electricity by converting heat energy into electrical energy. It uses various fuels, such as coal, natural gas, oil, or nuclear energy, to heat water and produce steam, which in turn drives a turbine to generate electricity. The thermal power plant typically consists of a boiler, turbine, generator, and other auxiliary equipment.

The Indian thermal power plant market is segmented by fuel. By fuel, the market is segmented into coal, gas, nuclear, and other fuel types. For each segment, market sizing and forecasts have been done based on capacity (MW).

Fuel Type Coal
Gas
Nuclear
Other Fuel Types
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India Thermal Power Plant Market Research FAQs

What is the current India Thermal Power Plant Market size?

The India Thermal Power Plant Market is projected to register a CAGR of greater than 2.3% during the forecast period (2025-2030)

Who are the key players in India Thermal Power Plant Market?

Nuclear Power Corporation of India (NPCIL), India Power Corporation Ltd, NTPC Limited, Adani Power Limited and Maharashtra State Power Generation Co. Ltd are the major companies operating in the India Thermal Power Plant Market.

What years does this India Thermal Power Plant Market cover?

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

India Thermal Power Plant Industry Report

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