United States (US) Thermal Power Market Analysis by Size, Installed Capacity, Power Generation, Regulations, Key Players and Forecast to 2035

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Published: December 29, 2024 Report Code: GDPE6434IDB-ST

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US Thermal Power Market Report Overview

The cumulative capacity for thermal power in the US was 802 GW in 2023. It will decline at a negative CAGR of less than 1% during 2023-2035. Thermal power has the dominant share in mix of the country accounting for a largest power generation share as of 2023. A notable development in the U.S. thermal power market is the sustained dominance of natural gas over coal as the primary source of electricity generation since April 2015.

US Thermal Power Market Outlook, 2023-2035 (GW)

US Thermal Power Market Outlook, 2023-2035 (GW)

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 The US Thermal Power market research report offers comprehensive information and understanding of the thermal power market in the US. The report discusses the thermal power market in the country and provides forecasts up to 2035. The report highlights installed capacity and power generation trends from 2015 to 2035 in the country’s thermal power market. The report also provides company snapshots of some of the major market participants. The report is built using data and information sourced from proprietary databases, secondary research, and in-house analysis by GlobalData’s team of industry experts.

Cumulative Capacity (2023) 802 GW
CAGR (2023-2035) >(1)%
Historical Period 2015-2022
Forecast Period 2023-2035
Key Types ·       Coal

·       Oil

·       Gas
KeyDealTypes ·       Debt Offerings

·       Acquisition

·       Asset Transactions

·       Equity Offerings

·       Private Equity
Key Active Plants ·       Okeechobee Clean Energy Center

·       Dominion Greensville Power Plant

·       Lackawanna Energy Center

·       Warren County Combined Cycle Power Plant

·       Cottonwood Energy Project
Key Companies ·       WEC Energy Group Inc

·       AES Corp

·       Santee Cooper

·       PPL Corp

·       NRG Energy Inc
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US Thermal Power Market Segmentation by Types

The key types in the US thermal power market are coal, oil, and gas. The US thermal power generation from gas was the highest in 2023.

US Thermal Power Market Analysis by Types, 2023 (%)

US Thermal Power Market Analysis by Types, 2023 (%)

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US Thermal Power Market Segmentation by Deal Types

In 2023, the key deal types in the US thermal power market were debt offerings, acquisition, asset transactions, equity offerings, and private equity, among others. Debt offerings had the highest number of deals.

US Thermal Power Market Analysis by Deal Types, 2023 (%)

US Thermal Power Market Analysis by Deal Types, 2023 (%)

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US Thermal Power Market - Major Active Plants

A few of the major active plants in the US thermal power market are Okeechobee Clean Energy Center, Dominion Greensville Power Plant, Lackawanna Energy Center, Warren County Combined Cycle Power Plant, and Cottonwood Energy Project, among others. Okeechobee Clean Energy Center led the thermal power market in the US in terms of total capacity in 2023.

US Thermal Power Market Analysis by Active Plants, 2023 (%)

US Thermal Power Market Analysis by Active Plants, 2023 (%)

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US Thermal Power Market – Competitive Landscape

The key companies in the US thermal power market are WEC Energy Group Inc, AES Corp, Santee Cooper, PPL Corp, and NRG Energy Inc.

SSE Plc: WEC Energy Group Inc (WEC) is an energy holding company. It generates and distributes electricity and thermal energy and delivers natural gas. The company produces electric power using various sources like coal, natural gas, oil, hydro, solar, wind, and biomass. WEC owns, maintains, monitors, and operates electric transmission systems and owns generating facilities and leases those to its group entities.

US Thermal Power Market Analysis by Companies

US Thermal Power Market Analysis by Companies

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Segments Covered in the Report

US Thermal Power Market Type Outlook (Value, 2015-2035, GW)

  • Coal
  • Oil
  • Gas

US Thermal Power Market Deal Type Outlook (Value, 2015-2035, GW)

  • Debt Offerings
  • Acquisition
  • Asset Transactions
  • Equity Offerings
  • Private Equity

Scope

The report includes:

  • An analysis of the US’s thermal power market.

  • A brief introduction to global carbon emissions and global primary energy consumption.

  • An overview of the country’s power market, highlighting installed capacity trends (2010-2035), generation trends (2010-2035), and installed capacity split by various power sources.

  • Detailed overview of the country’s thermal power market with installed capacity and generation trends, and major active and upcoming thermal power projects.

  • Deal analysis of the country’s thermal power market.

  • Snapshots of some of the major market participants in the country.

Reasons to Buy

  • Enhance your decision-making capability in a more rapid and time-sensitive manner.

  • Identify key growth and investment opportunities in the country’s thermal power market.

  • Facilitate decision-making based on strong historical and forecast data for the thermal power market.

  • Position yourself to gain the maximum advantage of the industry’s growth potential.

  • Identify key partners and business development avenues.

  • Understand and respond to your competitors’ business structure, strategy, and prospects.

Table of Contents

  • 1. Introduction

  • 1.1 Carbon Dioxide Emissions, Global, 2015–2023

  • 1.2 Primary Energy Consumption, Global, 2015–2023

  • 1.3 Report Guidance

  • 2. Power Market, US

  • 2.1 Power Market, US, Installed Capacity, 2015-2035

  • Power Market, US, Cumulative Installed Capacity by Source, 2015-2035

  • Power Market, US, Cumulative Installed Capacity Share by Source, 2023 and 2035

  • Power Market, US, Net Capacity Additions by Source, 2024-2035

  • Power Market, US, Capacity Growth by Source, 2023-2035

  • 2.2 Power Market, US, Power Generation, 2015-2035

  • Power Market, US, Power Generation by Source, 2015-2035

  • Power Market, US, Growth in Power Generation by Source, 2023-2035

  • 3. Thermal Power Market, US

  • 3.1 Thermal Power Market, US, Installed Capacity, 2015-2035

  • Thermal Power Market, US, Cumulative Installed Capacity Split by Types, 2015-2035

  • 3.2 Thermal Power Market, US, Power Generation, 2015-2035

  • Thermal Power Market, US, Power Generation by Type, 2015-2035

  • 3.3 Thermal Power Market, US, Market Size, 2015-2030

  • 3.4 Thermal Power Market, US, Power Plants

  • Thermal Power Market, US, Major Active Plants

  • Thermal Power Market, US, Snapshot of Upcoming Plants

  • Thermal Power Market, US, Key Under-construction Projects.

  • 3.5 Thermal Power Market, US, Deal Analysis, 2023

  • Thermal Power Market, US, Deal Volume vs. Deal Value, 2015–2023

  • Thermal Power Market, US, Split by Deal Type, 2023

  • 4. Steam Turbines Market, US

  • 4.1 Steam Turbines Market, US, Market Size, 2015-2028

  • 5. Gas Turbines Market, US

  • 5.1 Gas Turbines Market, US, Market Size, 2015-2028

  • 6. Thermal Power Policy, US

  • The Energy Policy Act of 2005

  • Alternative Fuel Excise Tax Credit

  • 7. Thermal Power Market, US, Company Profiles

  • 7.1 WEC Energy Group Inc

  • WEC Energy Group Inc – Company Overview

  • WEC Energy Group Inc – Business Description

  • WEC Energy Group Inc – SWOT Analysis

  • WEC Energy Group Inc – Major Products and Services

  • WEC Energy Group Inc – Head Office

  • 7.2 The AES Corp

  • The AES Corp – Company Overview

  • The AES Corp – Business Description

  • The AES Corp – SWOT Analysis

  • The AES Corp – Major Products and Services

  • The AES Corp – Head Office

  • 7.3 Santee Cooper

  • Santee Cooper – Company Overview

  • Santee Cooper – Business Description

  • Santee Cooper – SWOT Analysis

  • Santee Cooper – Major Products and Services

  • Santee Cooper – Head Office

  • 7.4 PPL Corp

  • PPL Corp – Company Overview

  • PPL Corp – Business Description

  • PPL Corp – SWOT Analysis

  • PPL Corp – Major Products and Services

  • PPL Corp – Head Office

  • 7.5 NRG Energy Inc

  • NRG Energy Inc – Company Overview

  • NRG Energy Inc – Business Description

  • NRG Energy Inc – SWOT Analysis

  • NRG Energy Inc – Major Products and Services

  • NRG Energy Inc – Head Office

  • 8. Appendix

  • 8.1 Abbreviations

  • 8.2 Methodology

  • Coverage

  • Secondary Research

  • Primary Research

  • Modelling and Forecasting

  • About GlobalData

  • Contact Us

Table

List of Tables

Table 1: Carbon Dioxide Emissions from Energy Consumption, Global, 2015–2023

Table 2: Primary Energy Consumption, Global, 2015–2023

Table 3: Power Market, US, Cumulative Installed Capacity by Source (GW), 2015-2035

Table 4: Power Market, US, Cumulative Installed Capacity Share by Source (%), 2023 and 2035

Table 5: Power Market, US, Net Capacity Additions by Source (GW), 2024-2035

Table 6: Power Market, US, Capacity Growth by Source, 2023-2035

Table 7: Power Market, US, Power Generation by Source (TWh), 2015-2035

Table 8: Power Market, US, Growth in Power Generation by Source, 2023-2035

Table 9: Thermal Power Market, US, Installed Capacity (GW), 2015-2035

Table 10: Thermal Power Market, US, Cumulative Installed Capacity by Type (GW), 2015-2035

Table 11: Thermal Power Market, US, Power Generation (TWh), 2015-2035

Table 12: Thermal Power Market, US, Power Generation by Type (TWh), 2015-2035

Table 13: Thermal Power Market, US, Market Size ($M), 2015-2030

Table 14: Thermal Power Market, US, Major Active Plants

Table 15: Thermal Power Market, US, Snapshot of Upcoming Plants

Table 16: Thermal Power Market, US, Key Under-construction Projects

Table 17: Thermal Power Market, US, Deal Volume vs. Deal Value ($M), 2015–2023

Table 18: Thermal Power Market, US, Deals by Type, 2023

Table 19: Steam Turbines Market, US, Market Size ($M), 2015-2028

Table 20: Gas Turbines Market, US, Market Size ($M), 2015-2028

Table 21: WEC Energy Group Inc, Major Products and Services

Table 22: The AES Corp, Major Products and Services

Table 23: Santee Cooper, Major Products and Services

Table 24: PPL Corp, Major Products and Services

Table 25: NRG Energy Inc, Major Products and Services

Table 26: Abbreviations

Figures

List of Figures

Figure 1: Carbon Dioxide Emissions from Energy Consumption, Global, 2015–2023

Figure 2: Primary Energy Consumption, Global, 2015–2023

Figure 3: Power Market, US, Cumulative Installed Capacity by Source (GW), 2015-2035

Figure 4: Power Market, US, Cumulative Installed Capacity Share by Source (%), 2023 and 2035

Figure 5: Power Market, US, Net Capacity Additions by Source (GW), 2024-2035

Figure 6: Power Market, US, Capacity Growth by Source, 2023-2035

Figure 7: Power Market, US, Power Generation by Source (TWh), 2015-2035

Figure 8: Power Market, US, Growth in Power Generation by Source, 2023-2035

Figure 9: Thermal Power Market, US, Installed Capacity (GW), 2015-2035

Figure 10: Thermal Power Market, US, Cumulative Installed Capacity by Type (GW), 2015-2035

Figure 11: Thermal Power Market, US, Power Generation (TWh), 2015-2035

Figure 12: Thermal Power Market, US, Power Generation by Type (TWh), 2015-2035

Figure 13: Thermal Power Market, US, Market Size ($M), 2015-2030

Figure 14: Thermal Power Market, US, Snapshot of Upcoming Plants

Figure 15: Thermal Power Market, US, Deal Volume vs. Deal Value ($M), 2015–2023

Figure 16: Thermal Power Market, US, Split by Deal Type (%), 2023

Figure 17: Steam Turbines Market, US, Market Size ($M), 2015-2028

Figure 18: Gas Turbines Market, US, Market Size ($M), 2015-2028

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