Thermal Power: A Global Strategic Business Report
San Jose, California (PRWEB) November 10, 2014
Follow us on LinkedIn – A thermal power plant is an electricity generating station, where coal, natural gas, or oil are burnt to boil water and produce steam, which in turn is used to rotate a turbine connected to an electricity-producing generator. Boiler, generator, and turbine represent the three basic systems required to produce electricity in a thermal power plant. Thermal energy is an important component of the energy mix in both developed and developing countries which still depend upon processing large quantities of fossil fuels to meet growing demand for power. Global electricity demand is expected to increase by around 62% by 2030, while fossil fuels are expected to account for about 83% of the global energy market by the same year.
Establishment of new power plants, refurbishment of existing power generation facilities, and migration to energy-efficient models are propelling sales of thermal power equipment. Liberalization and privatization of the electricity generation sector in several countries across the globe is another factor positively influencing market expansion. Heavy dependence on coal-fired power plants also represents a key growth driver, as the United States and China with significant coal deposits and relatively lower petrochemical resources continue to rely on coal-fired power generation plants to meet domestic electricity demand. Although coal is expected to continue its dominance as a major fuel source in thermal power generation, natural gas is slowly making inroads at the cost of coal. Emission standards and environmental concerns will determine the course of coal-fired power generation in the coming years.
Long-term growth in the market will be driven by spiraling demand for electric power in developing countries. Aging energy infrastructure will provide opportunities for equipment replacements, upgrades and modernization in the developed markets. The thermal power equipment market will also be impacted by factors such as fuel price differential, forward pricing for power, impact of new environmental legislation and regulations, and global pressure to reduce CO2 emissions. Energy-efficient thermal power technologies poised to benefit market prospects in the near term include circulated fluidized bed combustion (CFBC), atmospheric fluidised bed combustion (AFBC), sub-critical boilers, and supercritical technology.
As stated by the new market research report on Thermal Power, Asia-Pacific represents the largest and the fastest growing market worldwide with a projected CAGR of 5.8% over the analysis period. China and India are at the forefront of this growth with the two countries expected to install 165 and 50 new coal-fired power generation plants translating into 250 GW and 70 GW of incremental power, respectively, through 2015. India, a country dependent on coal for over 65% of its energy needs, is expected to step up coal imports to bridge the growing internal energy deficit. Availability of vast coal resources, increasing public and private investment in infrastructure projects, continuous industrial development, improving living standards, steady economic growth, rapid industrialization & urbanization, and expanding population, represent other important growth drivers in the region.
Key power generation companies covered in the report include AES Corporation, American Electric Power Company Inc., Duke Energy Corporation, Dynegy Inc., E.ON SE, Enel S.p.A, ENDESA S.A., EnBW Energie Baden-Wuerttemberg AG, GDF SUEZ Group, Electrabel, National Thermal Power Corporation Limited, NRG Energy Inc., Southern Company, The Tokyo Electric Power Company, Incorporated, Energy Future Holdings Corp., and Vattenfall AB, among others. Key power generation equipment companies covered in the report include Alstom Power Systems, Bharat Heavy Electricals Limited, GE Power & Water, Mitsubishi Heavy Industries Ltd., Rolls-Royce Power Systems Holding GmbH, and Siemens AG, among others.
The research report titled “Thermal Power: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, drivers, issues, challenges, product launches and strategic industry activities of major companies worldwide. The report provides market estimates and projections for Thermal Power Generation in Billion Kilowatt-hours (kWh) for major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, Poland, and Rest of Europe), Asia-Pacific (Australia, China, India, Indonesia, South Korea, Taiwan, and Rest of Asia-Pacific), Middle East & Africa (Iran, Saudi Arabia, South Africa, and Rest of Middle East & Africa), and Latin America (Argentina, Brazil, Mexico, and Rest of Latin America). Fuel types analyzed in the report include Gas, Oil, and Coal.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Thermal_Power_Thermal_Energy_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Web Site: http://www.StrategyR.com/