Japan Thermal Power Plant Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 1.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Japan Thermal Power Plant Market Analysis
The Japan thermal power plant market is expected to rise at a CAGR of more than 1.5% during the forecast period of 2020-2025. Factors such as the several numbers of nuclear power reactors in the country are likely to drive the Japan thermal power plant market. However, the increasing share of renewable energy in the total energy generation is expected to restrain the Japan thermal power plant market.
- The gas-fired power plant, due to its being efficient and more environmentally friendly than coal, is expected to be the largest segment and is likely to dominate the Japan 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 (per KW), are expected to replace the aging power plants and will likely create several opportunities for the Japan thermal power plant market in the future.
- The increasing projects of thermal power plants are expected to drive the Japan thermal power plant market.
Japan Thermal Power Plant Market Trends
This section covers the major market trends shaping the Japan Thermal Power Plant Market according to our research experts:
Gas Power Plants to Dominate the Market
- Natural gas-fired power plants generate energy by burning natural gas. The country is the largest importer of liquefied natural gas (LNG) and uses a major portion of the LNG to produce electricity. In 2019, the country imported 105.5 billion cubic meters (bcm) of the total imported LNG in the world, which is approximately 21.74% of the LNG imported.
- After 2011 tsunamis, Japan has to close down its most of nuclear power plants, which made Japan use natural gas as a significant source of energy generation to fill the void caused by the dismissal of nuclear power. In the past decade, natural gas emerged as a major source of energy in the country.
- In 2019, the total electricity produced by burning natural gas in Japan was 362.4 terawatt-hours (TWh), contributing to 34.97% of the total energy generated in the country, followed by cola energy. The significant share of natural gas in energy production depicts natural gas's dominance over other thermal energy sources.
- Moreover, the government of Japan in Jut 2020 announced that it would shut down about a hundred inefficient coal-fired power plants by 2030, which is likely to drive the natural gas segment that is more environmentally friendly than coal.
- Hence, owing to the above points, the gas segment is likely going to dominate the Japan thermal power plant market during the forecast period.
Increasing Thermal Power Plants Expected to Drive the Market
- For the last decade, Japan was mostly dependent on nuclear power, but after the incident of 2011, nuclear power in the country drastically reduced. The event made the country review and shut down most nuclear reactors and focuses more on other forms of thermal energy such as coal and natural gas.
- Japan, in 2019 announced 22 coal-burning projects at 17 different sites. These projects are expected to produce electricity using coal. Such numbers of projects in the country related to coal-fired power plants are expected to drive the thermal power plant market during the forecast period.
- In 2019, the nuclear energy generated in Japan was 65.6 Terawatt-Hours (TWh), higher than the nuclear energy production of 2018, 49.1 TWh. After the 2011 tsunami in the country, all the nuclear reactors were put under the reviewing process. In 2015, the two reactors were started, and after which seven more were restarted, while 18 are in the process of getting started. As of 2020, Japan has 33 operable nuclear reactors, two under construction, and 27 shut down. The country plans to increase its nuclear energy share in the total energy up to at least 20% by 2030.
- Hence, owing to the above points, increasing thermal power plants are expected to drive the Japan thermal power plant market during the forecast period.
Japan Thermal Power Plant Industry Overview
The Japan thermal power plant market is moderately fragmented. Some of the key players in this market includeTokyo Electric Power Company Holdings, Inc., Toshiba Corp, Mitsubishi Heavy Industries, LTD., Hitachi, Ltd., and Japan Atomic Power Company.
Japan Thermal Power Plant Market Leaders
Tokyo Electric Power Company Holdings, Inc.,
Toshiba Corp
Mitsubishi Heavy Industries, LTD.
Hitachi, Ltd.
Japan Atomic Power Company
*Disclaimer: Major Players sorted in no particular order
Japan Thermal Power Plant Market Report - Table of Contents
-
1. INTRODUCTION
-
1.1 Scope of the Study
-
1.2 Market Definition
-
1.3 Study Assumptions
-
-
2. EXECUTIVE SUMMARY
-
3. RESEARCH METHODOLOGY
-
4. MARKET OVERVIEW
-
4.1 Introduction
-
4.2 Japan Thermal Power Plant Installed Capacity and Forecast, in Megawatts, till 2025
-
4.3 Electricity Generation in Twh, Global, till 2020
-
4.4 Electricity Consumption in Twh, Global, till 2020
-
4.5 Key Projects Information (Existing, In Pipeline, and Upcoming)
-
4.6 Recent Trends and Developments
-
4.7 Government Policies and Regulations
-
4.8 Market Dynamics
-
4.8.1 Drivers
-
4.8.2 Restraints
-
-
4.9 Supply Chain Analysis
-
4.10 PESTLE Analysis
-
-
5. MARKET SEGMENTATION
-
5.1 Fuel Type
-
5.1.1 Coal
-
5.1.2 Gas
-
5.1.3 Nuclear
-
5.1.4 Others
-
-
-
6. COMPETITIVE LANDSCAPE
-
6.1 Mergers, Acquisitions, Collaboration and Joint Ventures
-
6.2 Strategies Adopted by Key Players
-
6.3 Company Profiles
-
6.3.1 The Chugoku Electric Power co.,inc.
-
6.3.2 Hitachi, Ltd.
-
6.3.3 Hirono IGCC Power GK.
-
6.3.4 Sumitomo Group
-
6.3.5 Japan Atomic Power Company.
-
6.3.6 Tokyo Electric Power Company Holdings, Inc.
-
6.3.7 Toshiba Corp
-
6.3.8 Mitsubishi Heavy Industries, LTD.
-
- *List Not Exhaustive
-
-
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Japan Thermal Power Plant Industry Segmentation
The Japan thermal power plant market report include:
| Fuel Type | |
| Coal | |
| Gas | |
| Nuclear | |
| Others |
Japan Thermal Power Plant Market Research FAQs
What is the current Japan Thermal Power Plant Market size?
The Japan Thermal Power Plant Market is projected to register a CAGR of greater than 1.5% during the forecast period (2024-2029)
Who are the key players in Japan Thermal Power Plant Market?
Tokyo Electric Power Company Holdings, Inc., , Toshiba Corp, Mitsubishi Heavy Industries, LTD., Hitachi, Ltd. and Japan Atomic Power Company are the major companies operating in the Japan Thermal Power Plant Market.
What years does this Japan Thermal Power Plant Market cover?
The report covers the Japan Thermal Power Plant Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Japan Thermal Power Plant Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Japan Thermal Power Plant Industry Report
Statistics for the 2024 Japan Thermal Power Plant market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Japan Thermal Power Plant analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
