Market Size of Thailand Power Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 5.80 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Thailand Power Market Analysis
Thailand power market is estimated to be at 51.34 GW by the end of this year and is projected to reach 68.05 GW in the next five years, registering a CAGR of 5.8% during the forecast period.
- Over the medium term, increasing renewables capacity and modernization of existing transmission and distribution infrastructure will likely help the market grow.
- On the other hand, the huge capital expenditure required for modernizing existing facilities and building new ones may restrain the market.
- Nevertheless, the Thai government targets achieving more than 30% of electricity generation through renewables by 2037. The country will also see transmission and distribution grid modernization owing to the increasing number of renewable energy power plants. Such activities are likely to present significant opportunities to the players involved in the market.
Thailand Power Industry Segmentation
Generally, electricity generation is generating electric power from primary energy sources. Electricity generation for utilities in the electricity industry is delivering (transmission, distribution, etc.) electricity to end users or storing it.
Thailand Power Market is segmented by power generation, Power Transmission, and Distribution (T&D). By power generation, the market is segmented into conventional and renewables. The market size and forecasts for each segment regarding installed capacity (GW) are done.
| Power Generation | |
| Conventional | |
| Renewables |
Thailand Power Market Size Summary
The Thailand power market is projected to grow significantly in the coming years, driven by an increase in renewable capacity and modernization of existing transmission and distribution infrastructure. However, the high capital expenditure required for modernizing facilities and building new ones may limit market growth. Despite this, the Thai government's target to achieve a substantial proportion of electricity generation through renewables by 2037, coupled with transmission and distribution grid modernization, presents significant opportunities for market players. In recent trends, the country is witnessing a significant shift towards renewable energy sources for electricity generation as part of its efforts to reduce its carbon footprint. This shift is being supported by various government policies and initiatives aimed at encouraging renewable energy installations nationwide. The government's support for renewable energy power plants through various incentives and regulatory support, as well as plans to open up the energy market further for private electricity trading, are expected to drive the Thai power market in the forecast period.
Explore MoreThailand Power Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Power Generation Mix, 2022
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1.3 Power Generation Installed Capacity and Forecast in GW, till 2028
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1.4 Electricity Generation and Consumption Forecast in TWh, till 2028
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1.5 Recent Trends and Developments
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1.6 Government Policies and Regulations
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1.7 Market Dynamics
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1.7.1 Drivers
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1.7.1.1 Increasing Renewables Capacity in Thailand
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1.7.1.2 Rising Modernization of Existing Transmission and Distribution Infrastructure
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1.7.2 Restraints
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1.7.2.1 Huge Capital Expenditure Required for Carrying out Modernization of Existing Facilities
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1.8 Supply Chain Analysis
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1.9 PESTLE Analysis
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2. MARKET SEGMENTATION
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2.1 Power Generation
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2.1.1 Conventional
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2.1.2 Renewables
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2.2 Power Transmission and Distribution
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Thailand Power Market Size FAQs
What is the current Thailand Power Market size?
The Thailand Power Market is projected to register a CAGR of 5.80% during the forecast period (2024-2029)
Who are the key players in Thailand Power Market?
Siemens Gamesa Renewable Energy SA, JinkoSolar Holding Co., Ltd., General Electric Company, BCPG PCL and Electricity Generation Authority of Thailand are the major companies operating in the Thailand Power Market.
