Market Size of Australia Thermal Power Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 1.40 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Australia Thermal Power Market Analysis
The Australian thermal power market is expected to grow at a CAGR of more than 1.4% in the forecast period of 2020-2025. Factors such as increasing population and power consumption are resulting in the growth of the thermal power market. With growing power demand, the demand for new power generating capacity is growing which, in turn, is expected to drive the market significantly. On the other hand, phasing out of coal-based thermal plants and rising competition from renewables are some factors that are hindering the market growth.
- Australia has vast reserves of natural gas. Moreover, natural gas holds the largest share in power generation and is expected to witness significant growth during the forecast period.
- According to the Australian Energy Market Operator, regions like Queensland and New South Wales are expected to witness significant growth in energy demand, in the long run, creating opportunities in the energy market.
- Australia has several power plants and under construction and under the planning phase, which is likely to drive the thermal power in the nation significantly.
