Canada Thermal Power Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The Canada thermal power market is expected to grow at a CAGR of more than 1% in the forecast period of 2020-2025. Factors such as increasing population and power consumption are resulting in the growth of the power demand. With growing power demand, new thermal power projects are being planned and constructed, which, in turn, is driving the market significantly. Nuclear and natural gas-based power plants are expected to witness significant growth in the coming years. On the other hand, phasing out of coal-based thermal plants and rising competition from renewables are some factors which are hindering the market growth.
Key HighlightsThe Canada thermal power market is moderately consolidated. Some of the major companies include SaskPower International Inc, Emera Inc, TransAlta Corporation, Ontario Power Generation Inc, and Northland Power Inc.
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