Market Size of Europe Thermal Power Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 5.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Thermal Power Market Analysis
The Europe thermal power market is expected to register a CAGR of over 5% during the forecast period.
COVID-19 negatively impacted the market in 2020. Presently the market reached pre-pandemic levels.
- Over the medium term, increasing power demands and decommissioning coal power plants will likely increase demand for gas-powered power generation. It is expected to drive the Europe thermal power market during the forecast period.
- On the other hand, the increasing adaption of renewable energy sources like solar and wind energy is expected to hinder Europe's thermal power market growth.
- Nevertheless, clean coal technology and upcoming natural gas-fired power plants are expected to create significant opportunities in Europe's thermal power market in the future.
- Germany is expected to dominate the market during the forecasted period due to the increasing demand for energy and population.
