Market Size of China Thermal Power Plant Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 3.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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China Thermal Power Plant Market Analysis
The China thermal power plant market is expected to rise at a CAGR of more than 3% during the forecast period of 2020-2025. Factors such as the increase in industrial operations and energy demand in the country are likely to drive the China thermal power plant market. However, the increasing share of renewable energy in the total energy generation is expected to restrain the China thermal power plant market.
- Coal-based power plants, due to its abundance in the country in comparison to other energy sources is expected to be the largest segment and is likely to dominate the China thermal power plant market during the forecast period.
- 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 will likely create several opportunities for the China thermal power plant market in the future.
- The increasing projects of thermal power plants in the country are expected to drive the China thermal power plant market.
