Market Size of India Thermal Power Plant Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 2.30 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
India Thermal Power Plant Market Analysis
The Indian thermal power plant market is expected to register a CAGR of more 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 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 |
India Thermal Power Plant Market Size Summary
The Indian thermal power plant market is poised for growth, driven by increasing industrial activities and government initiatives aimed at enhancing electricity access across the country. Despite the challenges posed by the COVID-19 pandemic, the market has rebounded to pre-pandemic levels. The dominance of coal-fired power plants, which are a significant source of energy in India, is expected to continue due to the country's substantial coal production and consumption. Government schemes like "Power for All" are anticipated to further bolster the market. However, the rising share of renewable energy in the energy mix presents a challenge to the thermal power sector. The introduction of advanced technologies such as supercritical and ultra-supercritical coal power plants is expected to mitigate environmental concerns and offer new opportunities for market expansion.
The demand for electricity in India is on the rise, driven by rapid industrialization and urbanization, which is expected to propel the thermal power plant market forward. The government's efforts to address electricity reliability issues, coupled with initiatives like the Uppur Thermal Power Project, are set to enhance power generation capacity. Collaborations, such as the one between NTPC Ltd and GE Gas Power to explore hydrogen co-firing, highlight the sector's focus on reducing emissions. The market is moderately fragmented, with key players including NTPC Limited, Adani Group, and Maharashtra State Power Generation Company. Regulatory measures, such as the re-imposition of the emergency clause of the Electricity Act, 2003, underscore the government's commitment to ensuring power supply during peak demand periods.
India 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 India 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 PESTLE Analysis
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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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India Thermal Power Plant Market Size 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 2.30% during the forecast period (2024-2029)
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.
