India Thermal Power Plant Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The Indian thermal power plant market is expected to register a CAGR of more than 2.3% during the forecast period (2022-2027). The COVID-19 outbreak negatively affected the Indian thermal power plant market. Due to the shutdown of power plants nationwide, thermal power plants’ share declined to below 66% from 72.5% a month before the lockdown. Factors like the increasing industrial operations and several government initiatives to provide electricity throughout the country are likely to drive the Indian thermal power plant market. However, the growing share of renewable energy in total energy generation is expected to restrain the market.
Key HighlightsThe Indian thermal power plant market is moderately fragmented. Some of the key players in the market include NTPC Limited, Adani Group, Maharashtra State Power Generation Company, Nuclear Power Corporation of India (NPCIL), and India Power Corporation Ltd.
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