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India Thermal Power Plant Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

  • ID: 5529849
  • Report
  • February 2022
  • Region: India
  • 95 Pages
  • Mordor Intelligence

FEATURED COMPANIES

  • Adani Power Limited
  • NTPC Limited
  • Reliance Power Limited
  • Tata Group

The Indian thermal power plant market is expected to rise at a CAGR of more than 2.3% during the forecast period of 2022-2027. The COVID-19 pandemic has negatively affected the Indian Thermal Power Plant Market. Due to nationwide power plants shut down, thermal power plants share has fallen to below 66% from 72.5% in a month period before the lockdown. Factors such as the increase in industrial operations and several government initiatives to provide electricity to all people in the country are likely to drive the Indian thermal power plant market. However, the increasing share of renewable energy in the total energy generation is expected to restrain the Indian thermal power plant market.



Key Highlights

  • Coal-based power plants, due to their abundance in the country in comparison to other energy sources, is expected to be the largest segment and are likely to dominate the Indian thermal power plant market during the forecast period. As of 2020, India was the second-largest producer of coal in the world.
  • New and efficient technologies like supercritical and ultra-supercritical coal power plants, which reduce the amount of pollution, are expected to replace the aging power plants and will likely create several opportunities for the Indian thermal power plant market in the future.
  • The increasing projects of thermal power plants in the country are expected to drive the Indian thermal power plant market.

Key Market Trends


Coal Segment Expected to Dominate the Market

  • Coal-fired power plants generate energy from the combustion of coal. The country is the second-largest coal producer globally and uses most of its coal to produce electricity. In 2020, the country produced approximately 12.68 Exajoules of coal.
  • The country's significant share of energy comes from coal-fired power plants, and factors such as rapidly increasing industrialization and urbanization are expected to drive the thermal power plant market in the country during the forecast period. Moreover, different government schemes such as "Power For All" are expected to increase the country's power surge and are likely to drive the country's thermal power plant market.
  • In 2020, the total coal energy consumption in India was 17.54 Exajoules, which was higher than the country's consumption in 2015, 16.55 Exajoules. The increased consumption of coal exhibits the growing usage of coal in the country. Coal being in abundance and economical for the country is widely used by power generating companies.
  • Moreover, the country is planning to commission the Uppur Thermal Power Project located in Ramanathapuram, Tamilnadu, with a capacity of 1600 MW by 2023. The project is owned by Tamil Nadu Generation and Distribution Corporation Ltd's (TANGEDCO) and has an investment cost of USD 1.7 billion.
  • Hence, owing to the above points, the coal segment is likely going to dominate the Indian thermal power plant market during the forecast period.


Increasing Thermal Power Projects Expected to Drive the Market

  • India's power sector is undergoing a wide-scale transformation, owing to the country facing steep electricity demand growth rates. Several parts of India witness high power cuts due to the growing demand for electricity and the supply gap. To address the issue of electricity reliability, the government has implemented policies to increase electricity generation.
  • India has the second-largest population, because of which there is a constant increase in the energy demand that requires an increasing number of industrial operations, and continually growing demand for power supply in the residential regions of the country are expected to drive the thermal power plant market.
  • As of December 2021, the country has generated 203.190 GW of electricity from coal and 24.9 GW of energy from gas-fired power plants.
  • As of 2020, a nuclear power station Gorakhpur Haryana AnuVidyutPariyojana (GHAVP) Units -1&2 (2X700 MW), was in the advanced stage. The main plant civil work and several other packages are at various stages of tendering. The first phase of the project comprising of two units, GHAVP-1&2 (2X700 MW), is expected to be completed in 2025.
  • Moreover, the Ministry of Power in India is planning to commission Patratu Super Thermal Project by the end of 2022. The project is located in Jharkhand and has the capacity to produce 4000 megawatts (MW) of power and is coal-fired. For India, coal has been a significant source of energy in the past and still holds a considerable share in the country's energy generation sources. This is expected to have a positive impact on the thermal power plant market in the country.
  • Hence, owing to the above points, increasing thermal power projects are expected to drive the Indian thermal power plant market during the forecast period.


Competitive Landscape


The India thermal power plant market is moderately fragmented. Some of the key players in this market include NTPC Limited, Adani Group, Maharashtra State Power Generation Company., Nuclear Power Corporation of India (NPCIL), and India Power Corporation Ltd.



Additional Benefits:


  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Adani Power Limited
  • NTPC Limited
  • Reliance Power Limited
  • Tata Group

1 INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2 EXECUTIVE SUMMARY3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
4.1 Introduction
4.2 India Thermal Power Plant Installed Capacity and Forecast, in Megawatts, till 2027
4.3 Electricity Generation in Twh, Global, till 2021
4.4 Electricity Consumption in Twh, Global, till 2021
4.5 Key Projects Information (Existing, In Pipeline, and Upcoming)
4.6 Recent Trends and Developments
4.7 Government Policies and Regulations
4.8 Market Dynamics
4.8.1 Drivers
4.8.2 Restraints
4.9 Supply Chain Analysis
4.10 PESTLE Analysis
5 MARKET SEGMENTATION
5.1 Fuel Type
5.1.1 Coal
5.1.2 Gas
5.1.3 Nuclear
5.1.4 Others
6 COMPETITIVE LANDSCAPE
6.1 Mergers, Acquisitions, Collaboration and Joint Ventures
6.2 Strategies Adopted by Key Players
6.3 Company Profiles
6.3.1 NTPC Limited
6.3.2 Adani Power Limited
6.3.3 Tata Group
6.3.4 Reliance Power Limited
6.3.5 Maharashtra State Power Generation Co. Ltd.
6.3.6 Nuclear Power Corporation of India (NPCIL)
6.3.7 India Power Corporation Ltd.
6.3.8 Jindal Steel & Power Limited
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • NTPC Limited
  • Adani Power Limited
  • Tata Group
  • Reliance Power Limited
  • Maharashtra State Power Generation Co. Ltd.
  • Nuclear Power Corporation of India (NPCIL)
  • India Power Corporation Ltd.
  • Jindal Steel & Power Limited
Note: Product cover images may vary from those shown

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