Europe Thermal Power Market Size

Statistics for the 2023 & 2024 Europe Thermal Power market size, created by Mordor Intelligence™ Industry Reports. Europe Thermal Power size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Europe Thermal Power Industry

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Europe Thermal Power Market Summary
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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

Europe Thermal Power Market 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.

Europe Thermal Power Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)