Market Size of Canada Thermal Power Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 1.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Canada Thermal Power Market Analysis
The Canadian thermal power market is expected to register a CAGR of more than 1% in the forecast period.
- Long-term, more people and more electricity use would lead to more electricity being needed.With growing power demand, new thermal power projects such as nuclear are being planned and constructed, which, in turn, would drive the market significantly.
- On the other hand, phasing out coal-based thermal plants and rising competition from renewables are a few restraints to market growth.
- Still, Canada's large natural gas reserves are a chance for the country to become less reliant on foreign energy sources and could help the thermal power market grow.
