Thermal Power Plant Market to Observe Strong Development by 2030 - NTPC LIMITED, DUKE ENERGY CORP, etc.
Innovation to Drive Thermal Power Plant Market throughout the Forecast Period (2021 โ 2030)
WILMINGTON, DELAWARE, UNITED STATES, April 29, 2024 /EINPresswire.com/ -- A thermal power plant is a power generation station that burns fossil fuels like coal, and petroleum to produce electricity. The power generation in thermal power plant is done by utilizing the chemical energy stored in the fuel, burning it, and then converting it into mechanical energy. This mechanical energy is utilized to operate an electrical generator to generate electricity. Such thermal power plants are designed on a large scale for continuous operation for years. The device here is used to convert the thermal energy released by the fuel to mechanical energy called a turbine. In most of the thermal power plants, the fuel is used to heat water. This water on heating turns to steam which is then pressurized and used to run the turbines. Depending on the medium used to obtain mechanical energy, the turbine can be classified into steam turbines and gas turbines. The global thermal power plant market was valued at $1,345.0 billion in 2020 and is projected to reach $1,820.7 billion by 2030, growing at a CAGR of 3.2% from 2021 to 2030.
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ & ๐๐๐: https://www.alliedmarketresearch.com/request-sample/14158
Demand for thermal power plants has witnessed tremendous growth driven by escalating demand for energy on account of rapid industrialization and the increase in dependence on electrification. A rise in construction spending for developing residential buildings owing to the surge in population coupled with an increase in disposable income is expected to consume more energy during the forecast period. Furthermore, national grids are getting pressurized which is resulting in an increased demand-supply gap for power which is eventually driving the demand for thermal power plants, due to growing urbanization. In addition, the increase in urbanization and industrialization mainly in developing nations such as China, India, and Brazil has increased the electricity demand which is anticipated to drive the demand for thermal power plants in the upcoming years. Besides research and development initiatives to lower operating costs, streamline logistical procedures, and increase efficiency offer an ample number of prospects for the industry participants. However, the advent of environmentally friendly technologies, strict regulations regarding greenhouse gas emissions, and health issues associated with coal-fired power generation are expected to hamper the growth of the thermal power plant market during the forecast period. Furthermore, advancement in combustion technologies is expected to provide growth opportunities for the thermal power plant market during the forecast period.
By fuel type, the global thermal power plant market size is studied across coal, gas, nuclear, and others. The coal segment accounted for the largest market share in 2020, as coal is a key source of power generation due to its abundant availability and low cost compared to other power generation processes. The coal segment dominated the global thermal power plant market with nearly half of the total market share in 2020.
๐๐๐ญ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐ฐ๐ข๐ญ๐ก ๐ฒ๐จ๐ฎโ๐ซ๐ ๐๐๐ช๐ฎ๐ข๐ซ๐๐ฆ๐๐ง๐ญ๐ฌ: https://www.alliedmarketresearch.com/on-demand-updates/A13789
๐๐จ๐ฆ๐ฉ๐๐ญ๐ข๐ญ๐ข๐ฏ๐ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ:
The Thermal Power Plant industry's key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.
๐๐จ๐ฆ๐ ๐จ๐ ๐ญ๐ก๐ ๐ฆ๐๐ฃ๐จ๐ซ ๐ค๐๐ฒ ๐ฉ๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐ข๐ง ๐ญ๐ก๐ ๐ ๐ฅ๐จ๐๐๐ฅ ๐๐ก๐๐ซ๐ฆ๐๐ฅ ๐๐จ๐ฐ๐๐ซ ๐๐ฅ๐๐ง๐ญ ๐๐๐ซ๐ค๐๐ญ ๐ข๐ง๐๐ฅ๐ฎ๐๐,
ESKOM HOLDINGS SOC LTD.
CHINA HUANENG GROUP CO. LTD.
JINDAL INDIA THERMAL POWER LIMITED
TENAGA NASIONAL BERHAD
NTPC LIMITED
RWE Aktiengesellschaft
AMERICAN ELECTRIC POWER COMPANY
DUKE ENERGY CORPORATION
DOMINION ENERGY SOLUTIONS INC.
Region-wise, the global thermal power plant market is studied across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounted for the largest market share in 2020, owing to upcoming power generation projects and growing industrialization. Asia-Pacific accounted for a major thermal power plant market share in 2020 and dominated the global market with more than two-fifths of the total market share in 2020.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/14158
๐๐๐ฒ ๐๐ข๐ง๐๐ข๐ง๐ ๐ฌ ๐จ๐ ๐ญ๐ก๐ ๐ฌ๐ญ๐ฎ๐๐ฒ:
- In 2020, Asia-Pacific dominated the global thermal power plant market with around 45.66% share, in terms of revenue. In addition, it is also projected to grow at the highest CAGR of 3.6% in terms of value.
- The coal segment dominated the global thermal power plant market with around 49.16% of the share in terms of revenue.
- The gas segment is projected to grow at the highest CAGR of 3.7% in terms of revenue.
๐๐ซ๐๐ง๐๐ข๐ง๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐ข๐ง ๐๐ง๐๐ซ๐ ๐ฒ ๐๐ง๐ ๐๐จ๐ฐ๐๐ซ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ:
๐. ๐๐จ๐ฐ๐๐ซ ๐๐ฅ๐๐ง๐ญ ๐๐จ๐ข๐ฅ๐๐ซ ๐๐๐ซ๐ค๐๐ญ - https://www.prnewswire.com/news-releases/power-plant-boiler-market-to-reach-31-1-billion-globally-by-2031-at-5-1-cagr-allied-market-research-301780934.html
๐. ๐๐จ๐ฐ๐๐ซ ๐๐ฅ๐๐ง๐ญ ๐๐๐ข๐ง๐ญ๐๐ง๐๐ง๐๐ ๐๐๐ซ๐ค๐๐ญ - https://www.globenewswire.com/news-release/2023/03/16/2628763/0/en/Power-Plant-Maintenance-Market-Is-Expected-to-Generate-33-2-Billion-by-2031-Allied-Market-Research.html
๐. ๐๐ฎ๐๐ฅ๐๐๐ซ ๐๐จ๐ฐ๐๐ซ ๐๐ฅ๐๐ง๐ญ ๐๐ง๐ ๐๐ช๐ฎ๐ข๐ฉ๐ฆ๐๐ง๐ญ ๐๐๐ซ๐ค๐๐ญ - https://www.prnewswire.co.uk/news-releases/nuclear-power-plant-and-equipment-market-to-reach-58-4-bn-globally-by-2030-at-3-5-cagr-allied-market-research-847701757.html
๐. ๐๐จ๐ฐ๐๐ซ ๐๐ฅ๐๐ง๐ญ ๐๐จ๐ง๐ญ๐ซ๐จ๐ฅ ๐๐ฒ๐ฌ๐ญ๐๐ฆ ๐๐๐ซ๐ค๐๐ญ - https://www.globenewswire.com/news-release/2021/12/16/2353301/0/en/Power-Plant-Control-System-Market-Is-Expected-to-Reach-10-4-Billion-by-2030-Says-AMR.html
๐๐๐จ๐ฎ๐ญ ๐๐ฌ:
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