Rapid Industrialization in Emerging Economies to Drive Global Thermal Power Market, According to New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) March 02, 2012
Follow us on LinkedIn Despite the uncertain economic scenario, worldwide power generation sector is bracing for a bright long term growth driven by presence of strong demand drivers including increasing population worldwide and improving consumer lifestyles along with rise in incomes. Prices and energy policies are expected to play a key role in determining the technology mix and demand for energy for ensuring continued economic growth. In the thermal power sector, high-efficiency combined-cycle gas turbines sector is the new frontier of gas and steam turbine markets as the industry gears for the next level of power generation – pollution free power.
Coal continues its dominance as a major fuel source in worldwide electricity generation and hence in thermal power generation. However, natural gas is slowly making inroads at the cost of coal. Currently, power generation firms are more focused towards renovation of existing plants, instead of new plant installations amidst the challenging situation. Amid the environmental pressures and dwindling economic scenario, quality and price of coal has become a major concern for smooth operations of thermal power plants across the world. Several power generation companies are opting for cheaper fuel alternatives instead of the costly nuclear and nonrenewable energy sources. With the economic recovery yet to pick up, the coal and natural gas- based power plants are expected to take time to witness pre-crisis level growth. Also efforts by companies around the globe to use the technology of clean coal (capturing and storing CO2) for power generation, as part of initiatives to measure up to the stringent Kyoto protocol norms. These efforts form a part of an objective to lessen environmental damage by using low cost fuel.
As stated by the new market research report on Thermal Power, Asia-Pacific represents the largest regional market. The region is forecast to record the fastest growth in electricity generation primarily due to changing lifestyles, growing population, and increasing efforts in majority of countries in this region to enhance the electrification rates. Asia-Pacific is forecast to record the fastest growth in electricity generation primarily due to changing lifestyles, growing population, and increasing efforts in majority of countries in the region to enhance electrification rates. Scarcity of water resources in the region is forcing several countries to opt for the development of thermal power generation or other renewable sources of energy. While scarcity of other resources and lack of adequate technology for nuclear power drives the growth of thermal power in Asia, efforts of major markets in Latin America to diversify their fuel sources, which rely heavily on hydropower, plays a major role in increasing preference for thermal power generation. China is already recognized as the largest producer of thermal power.
Key players profiled in the report include AES Corp., American Electric Power Co. Inc., Beijing Jingneng Thermal Power Co. Ltd., Duke Energy International, Dynegy, Inc., E.ON Energie AG, Electrabel, ENDESA S.A., Enel S.p.A., EnBW Energie Baden-Wuerttemberg AG, International Power Plc, Mirant Corp., NTPC, Southern Co., Tokyo Electric Power Co., Inc., Energy Future Holdings Corp., Vattenfall Europe AG, Alstom Power Systems, BHEL, GE Power Systems, Mitsubishi Heavy Industries, and Siemens AG.
The research report titled “Thermal Power: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of trends, issues, strategic industry activities, and profiles of major companies worldwide. The report provides market estimates and projections in Billion Kilowatt-hours for major geographic markets including the US, Canada, Japan, Europe, Asia-Pacific, Latin America and Middle East. The report also analyzes the global Thermal Power Equipment market by new capacity additions through Steam Turbines and Gas Turbines in Megawatts.
For more details about this comprehensive market research report, please visit
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 more than 1300 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.
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Rapid Industrialization in Emerging Economies to Drive Global Thermal Power Market, According to New Report by Global Industry Analysts, Inc. is a post from: Improve Your Reputation
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