Heat wave: Declining thermal energy production has prevented the industry from growing

The Thermal Power industry in Canada is composed of operators that generate electricity using natural gas, coal, uranium or crude oil. The industry has performed poorly over the five years to 2019. While conditions have been positive, with rising electricity prices and increasing demand from commercial and industrial markets, the industry has experienced some difficulties. The amount of power generated by each underlying commodity has steadily shifted. Nuclear power has accounted for the largest share of revenue since eclipsing coal in 2009. However, nuclear power volumes have fallen due to the rise of natural gas. Over the five years to 2024, thermal power generation volumes are forecast to continue to fall, albeit at a slower pace...read more.

Industry Statistics & Market Size
Revenue
$14bn
Annual Growth 14-19
-2.0%
Forecast Growth 19-24
Profit
Employment
11,761
Businesses
45

Industry Threats & Opportunities

  • Nuclear power volumes have fallen due to some reactors being refurbished
  • Industry revenue is linked to demand and prices in downstream markets
  • Nuclear power will decline as a source of industry revenue
  • Industry Report - Industry Analysis Chapter

    The Thermal Power industry in Canada consists of power stations that generate electricity with goods such as natural gas, oil, coal and uranium. The industry has performed poorly over the five years to 2019, despite positive downstream demand conditions. Electricity demand has risen in the commercial and industrial sectors, and electricity prices have also risen over the past five years. The majority of industry power generation takes place in industrial hubs such as Ontario and Alberta, and as a result, the domestic level of industrial output can have a significant effect on industry performance, as other demand sources, such as residential demand, tend to be less elastic. Fur...purchase to read more.

    Additional Insights for the Thermal Power Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Thermal Power Industry are

  • Ability to accommodate environmental requirements
  • Ability to negotiate rate increases
  • Access to power grid
  • IBISWorld analysts also discuss how external factors such as Electric power consumption and Price of electric power in the Thermal Power industry impact industry performance..

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    What's in this report

    What is the Thermal Power Industry?

    The Thermal Power industry in Canada comprises nuclear power plants and fossil-fuel power plants, such as coal and natural gas. Biomass power, which also uses thermal energy, is considered a renewable energy source and not included in this industry.

    Industry Products
  • Coal-fired electricity
  • Natural gas-powered electricity
  • Nuclear power
  • Industry Activities
  • Generating electricity through nuclear power plants
  • Generating electricity through coal power plants
  • Generating electricity through natural gas power plants
  • Generating electricity through other fossil-fuel power plants
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Electric power consumption
  • Price of electric power
  • World price of steaming coal
  • World price of uranium
  • World price of natural gas

  • Current Performance
  • Commodity prices and power generation
  • End use electricity price and demand conditions
  • Industry structure
  • Trade
  • Chart: Revenue Growth

  • Industry Outlook
  • Power generation
  • Profitability and industry structure
  • International trade
  • Table: Thermal Power Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Thermal Power Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Electric Power Transmission in Canada
  • Manufacturing In Canada

  • Key Selling Industries
  • Coal Mining in Canada
  • Engine & Turbine Manufacturing in Canada
  • Gasoline & Petroleum Bulk Stations in Canada
  • Gasoline & Petroleum Wholesaling in Canada
  • Heavy Infrastructure Construction in Canada
  • Natural Gas Distribution in Canada
  • Oil Drilling & Gas Extraction in Canada
  • Transmission Line Construction in Canada

  • Products & Services
  • Nuclear power
  • Coal-fired electricity
  • Natural gas-powered electricity
  • Other
  • Chart: Thermal Power Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Residential
  • Industrial
  • Commercial
  • Exports
  • Chart: Major Market Segmentation for the Thermal Power Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    WagesPurchasesProfitDepreciationMarketingMarketingMarketingOther
  • Chart: Cost Structure Benchmarking – Sector vs Thermal Power

  • Basis of Competition
    Internal competitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Thermal Power Industry

  • Industry Globalization
    Ontario Power Generation Inc., TC Energy Corporation, SaskPower, Bruce Power LP, TransAlta Corporation,
  • Table: Ontario Power Generation Inc. - financial performance
  • Table: TC Energy Corporation - financial performance
  • Table: SaskPower - financial performance
  • Table: Bruce Power LP - financial performance
  • Table: TransAlta Corporation - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Thermal Power Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Thermal Power Industry
    Includes:
  • Industry Revenue (2010-2024)
  • Industry Gross Product (2010-2024)
  • Establishments (2010-2024)
  • Businesses (2010-2024)
  • Employment (2010-2024)
  • Exports (2010-2024)
  • Imports (2010-2024)
  • Wages (2010-2024)
  • Wages (2010-2024)
  • Purchases (2010-2024)
  • Profit (2010-2024)
  • Depreciation (2010-2024)
  • Marketing (2010-2024)
  • Rent (2010-2024)
  • Utilities (2010-2024)
  • Other (2010-2024)
  • Thermal electricity generation (2010-2024)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Clean Coal
  • Technology that reduces the emissions from the burning of coal.
  • Crown Corporation
  • Businesses or enterprises that are owned solely by the federal or provincial governments.
  • Joule
  • The amount of energy required to produce one watt of power for one second.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Thermal Power market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Thermal Power:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Thermal Power market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Thermal Power, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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