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

Thailand's Electricity Market is segmented by Power Generation (Conventional, and Renewables) and Power Transmission and Distribution.

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

Thailand Power Market Size

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Thailand Power Market- Market Summary
Study Period 2020 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2020 - 2023
CAGR 5.80 %

Major Players

Thailand Power Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Thailand Power Market Analysis

The Thailand Power Market is expected to register a CAGR of 5.8% during the forecast period.

  • Over the medium term, increasing renewables capacity and modernization of existing transmission and distribution infrastructure will likely help the market grow.
  • On the other hand, the huge capital expenditure required for modernizing existing facilities and building new ones may restrain the market.
  • Nevertheless, the Thai government targets achieving more than 30% of electricity generation through renewables by 2037. The country will also see transmission and distribution grid modernization owing to the increasing number of renewable energy power plants. Such activities are likely to present significant opportunities to the players involved in the market.

Thailand Power Industry Overview

The Thai power market is moderately consolidated. Some major players active in the market (not in particular order) include Siemens Gamesa Renewable Energy SA, JinkoSolar Holding Co. Ltd, General Electric Company, BCPG PCL, and the Electricity Generation Authority of Thailand., among others.

Thailand Power Market Leaders

  1. Siemens Gamesa Renewable Energy SA

  2. JinkoSolar Holding Co., Ltd.

  3. General Electric Company

  4. BCPG PCL

  5. Electricity Generation Authority of Thailand

  6. *Disclaimer: Major Players sorted in no particular order
Market Concentration-Thailand Power Market.png
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Thailand Power Market News

  • May 2023: Mae Hing Son province launched a solar power plant and battery energy storage project. The Electricity Generating Authority of Thailand (EGAT) held a commercial operation date (COD) ceremony for a 3 MW solar power plant and 4 MW battery energy storage system project.
  • May 2023: Acciona Energia and the Blue Circle announced inking a 25-year power purchase agreement (PPA) in Thailand for five wind farms with a total capacity of 436 MW. The projects were picked through a bidding process by the Energy Regulatory Commission (ERC), and these projects will be developed in phases. The first wind farm is expected to begin construction in 2024, and all five projects will be completed by 2030.

Thailand Power 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 METHODOLGY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Power Generation Mix, 2022
  • 4.3 Power Generation Installed Capacity and Forecast in GW, till 2028
  • 4.4 Electricity Generation and Consumption Forecast in TWh, till 2028
  • 4.5 Recent Trends and Developments
  • 4.6 Government Policies and Regulations
  • 4.7 Market Dynamics
    • 4.7.1 Drivers
    • 4.7.1.1 Increasing Renewables Capacity in Thailand
    • 4.7.1.2 Rising Modernization of Existing Transmission and Distribution Infrastructure
    • 4.7.2 Restraints
    • 4.7.2.1 Huge Capital Expenditure Required for Carrying out Modernization of Existing Facilities
  • 4.8 Supply Chain Analysis
  • 4.9 PESTLE Analysis

5. MARKET SEGMENTATION

  • 5.1 Power Generation
    • 5.1.1 Conventional
    • 5.1.2 Renewables
  • 5.2 Power Transmission and Distribution

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 Electricity Generation Authority of Thailand
    • 6.3.2 Siemens Gamesa Renewable Energy SA
    • 6.3.3 Vestas Wind Systems AS
    • 6.3.4 BCPG PCL
    • 6.3.5 Glow Energy PCL
    • 6.3.6 SGS SA
    • 6.3.7 JinkoSolar Holding Co. Ltd
    • 6.3.8 General Electric Company
    • 6.3.9 Schneider Electric SE
    • 6.3.10 SIAM SOLAR
    • 6.3.11 Wind Energy Holding Co. Ltd
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  • 7.1 Supportive Government Policies
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Thailand Power Industry Segmentation

Generally, electricity generation is generating electric power from primary energy sources. Electricity generation for utilities in the electricity industry is delivering (transmission, distribution, etc.) electricity to end users or storing it.

Thailand Power Market is segmented by power generation, Power Transmission, and Distribution (T&D). By power generation, the market is segmented into conventional and renewables. The market size and forecasts for each segment regarding installed capacity (GW) are done.

Power Generation Conventional
Renewables
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Thailand Power Market Research FAQs

What is the current Thailand Power Market size?

The Thailand Power Market is projected to register a CAGR of 5.8% during the forecast period (2025-2030)

Who are the key players in Thailand Power Market?

Siemens Gamesa Renewable Energy SA, JinkoSolar Holding Co., Ltd., General Electric Company, BCPG PCL and Electricity Generation Authority of Thailand are the major companies operating in the Thailand Power Market.

What years does this Thailand Power Market cover?

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

Thailand Energy Industry Report

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

Thailand Energy Market Report Snapshots