The Cumulative capacity of Thermal power plants in Global Power and Utilities industry reached 4,436,608.21 MW in 2020
The indicator recorded a historical growth (CAGR) of 1.78% between 2017 and 2020, and is expected to grow by ...
GlobalData projects the indicator to grow at a CAGR of ...
Cumulative capacity of Thermal power plants across the globe recorded a YoY growth in 2020
The global power generation industry grew moderately overall in the historic period, as attempts to conserve energy consumption and alter generation mixes in Europe were outstripped by growth in the Asia-Pacific region. The market is expected to grow moderately towards 2023, although growth rates will decelerate somewhat.
Coal based thermal power comprises a huge share of the world’s electricity generation portfolio. Coal as a fuel has powered the creation of the modern world and was the backbone for the growth of several industrialized economies. Besides, coal has been the most polluting of all fossil fuels. The excessive reliance on coal has led to a substantial increase in carbon emissions globally.
At present, fossil fuels remain the dominant source of thermal power in the US. However, the make-up of the energy mix is changing. Coal is frequently being beaten by natural gas and insufficient time has passed to assess if the changes to coal written into law will have a meaningful impact. As costs for renewable energy fall and individual states increasingly take action on reducing carbon emissions, the shape of energy production will likely change further. Although China is the largest hydroelectric producer in the world, sheer levels of demand in the market mean that fossil fuel production actually outweighs renewable energy production.
Country snapshots
The UK's coal power capacity decreased between 2010 and 2020. It is expected that coal power would be eliminated from the capacity mix by the end of 2024. Gas power capacity is expected to decrease by 2030. Oil power capacity was the smallest among thermal technologies in terms of capacity in 2020. It is expected to decrease by 2030.
Canada's gas power capacity was the largest among thermal technologies in terms of capacity in 2020. It is expected to increase. Coal power capacity decreased between 2010 and 2020. It is expected that coal power would decrease at a negative high-single digit CAGR by 2030. Oil power capacity is expected to remain the same in 2020 and 2030.
France
Germany
Germany
Italy
France
Japan
South Korea
Spain
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