Market Size of US Thermal Power Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 0.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Thermal Power Market Analysis
During the time frame of the forecast, the United States thermal power market is expected to register a CAGR of more than 0.5%.
The market was negatively impacted by the outbreak of COVID-19 due to a decrease in electricity demand. The market has currently rebounded to pre-pandemic levels.
The United States thermal power market is expected to be driven by things like the price of natural gas going down over the past 10 years. Also, the increasing investments in thermal power plants from private firms and several state governments are expected to drive the United States thermal power market during the forecast period.
However, reducing the price of renewable energy has provided an economically viable cleaner alternative, which is expected to restrain the market's growth.
The improvements in efficiency and decreases in harmful emissions from thermal power projects are likely to open up new markets in the future.
