The United States thermal power market is segmented by source (coal, natural gas, and petroleum). The report offers the market size and forecasts in installed capacity (gigawatts) for all the above segments.

The US thermal power market is segmented into the following product types:Coal-fired power plantsNatural gas-fired power plantsOil-fired power plantsRenewable energy power plantsCoal-fired power plants: Coal-fired power plants are the most common type of thermal power plant in the United States. These plants use coal to generate steam, which is then used to drive a turbine.Natural gas-fired power plants: Natural gas-fired power plants are becoming increasingly common in the United States. These plants use natural gas to generate steam, which is then used to drive a turbine.Oil-fired power plants: Oil-fired power plants are less common than coal-fired and natural gas-fired power plants. These plants use oil to generate steam, which is then used to drive a turbine.Renewable energy power plants: Renewable energy power plants use renewable sources of energy, such as solar and wind power, to generate electricity. These plants are becoming increasingly popular as the cost of renewable energy technologies declines. Recent developments include: May 2022: JERA Co., Inc. acquired two thermal power projects in the United States. The projects have a combined capacity of approximately 1.63 GW and are the Canal Thermal Power Station in Massachusetts and the Bucksport Thermal Power Station in Maine., December 2022: Competitive Power Ventures (CPV) announced that the company would build a USD 3 billion 1800 MW combined-cycle natural gas power plant in Doddridge County, West Virginia. The plant will also feature carbon capture technology.. Key drivers for this market are: The need for energy security and grid stability has kept thermal power generation, particularly natural gas and nuclear, as critical components of the US energy infrastructure. Thermal power plants provide reliable, dispatchable power, unlike some renewable sources that are intermittent. . Potential restraints include: While nuclear power remains an important part of the thermal power mix, the high capital costs, long construction timelines, and regulatory hurdles associated with building new nuclear plants have made it a less attractive option compared to other energy sources. . Notable trends are: Natural gas has become the dominant fuel in the US thermal power market due to its lower emissions, cost-effectiveness, and the abundance of shale gas. This trend is expected to continue, with natural gas-fired plants replacing older coal plants and new plants being built with combined-cycle technology. .

US Power Market size was valued to be USD 363.6 Billion in the year 2024 and it is expected to reach USD 517 Billion in 2031, at a CAGR of 4.5% over the forecast period of 2024 to 2031.The U.S. power market is driven by several key factors: the increasing demand for electricity, propelled by the rapid expansion of data centers and the electrification of transportation, necessitates significant investments in transmission infrastructure to enhance grid capacity and reliability. The growing emphasis on renewable energy sources, such as wind and solar, is reshaping the energy mix, influenced by both economic factors and policy initiatives. Technological advancements, including the integration of artificial intelligence and the Internet of Things, are further transforming grid operations and energy management. Additionally, policy and regulatory frameworks, including government incentives and environmental regulations, play a crucial role in shaping market dynamics.

The US Thermal Power Market Size was valued at USD 213.3 Million in 2024 and is projected to reach USD 250.23 Million by 2032, growing at a CAGR of 2.01% from 2025-2032.

US Thermal Power Market: Definition/ Overview

In the United States, Thermal power refers to the creation of electricity using heat energy, which is generally derived from fossil fuels such as coal, natural gas, and oil, as well as nuclear and geothermal energy. Thermal power plants use heat to convert mechanical energy, which is then used to drive turbines and generate electricity. This sector is an important part of the United States' energy infrastructure, providing a steady power supply to industries, residences, and commercial organizations. It is especially useful in meeting base load energy requirements and handling peak demand when renewable energy sources are intermittent.

The US Thermal Power Market is being driven by advances in cleaner, more efficient technologies that correspond with sustainability goals. Carbon capture, utilization, and storage (CCUS) technologies, upgraded combined cycle plants, and cleaner fuel choices are projected to minimize emissions while improving plant performance. As the energy grid shifts toward a renewable-dominated mix, thermal power will remain critical to grid stability, serving as a dependable backup during periods of low renewable output. These improvements establish thermal power as a critical component in attaining a balanced, resilient, and sustainable energy future.

The North American Thermal Power Market is Segmented by Fuel (Coal, Gas, Nuclear, and Other Fuel Types) and Geography (United States, Canada, and Rest of North America). The report offers the market size and forecasts in installed capacity (gigawatts) for all the above segments.

The US Energy Market is segmented by Generation (Conventional Thermal, Hydro, Nuclear, Non-hydro Renewable) and Transmission & Distribution.

North America Thermal Power Market was valued at USD 298.45 Billion in 2024 and is projected to reach USD 356.82 Billion by 2032, growing at a CAGR of 2.3% from 2026 to 2032.

Key Market Drivers

Increasing Energy Demand in North America: As North America's population and industrial activity rise, so does the need for power. According to the United States Energy Information Administration (EIA), power consumption in the United States is predicted to rise by around 0.9% each year between 2021 and 2050, owing to factors such as population growth, urbanization, and electrification of various sectors (EIA, 2023). The growing energy demand is a crucial driver of the thermal power market since thermal plants continue to be a prominent source of electricity generation. Transition to Cleaner and More Efficient Thermal Technologies: North America's thermal power market is driven by a transition toward cleaner and more efficient energy sources, such as natural gas.

The United States consumes 4.2 trillion kilowatt-hours of electricity and over half of that power is produced by the Coal and Natural Gas Power industry. Coal-based power has historically been the leading source of electricity in the United States. The outburst of natural gas availability and the implementation of burdensome environmental regulations have caused the industry to undergo a major structural transformation. Industry revenue is set to swell at a CAGR of 0.1% to $98.0 billion through 2024, including a 2.7% dip in 2024 alone. Gas-fired power overtook coal-fired power as the nation's primary electricity generation method in 2016. Not only had natural gas prices become significantly more affordable than coal, but highly efficient and low emissions combined cycle combustion engines were also gaining national traction. Unregulated wholesale markets provided a competitive battleground where more efficient independent power producers could offer their electricity to consumers at more affordable costs while still earning higher profit than coal-fired plants. While electric power consumption will swell, up to one-fifth of coal-based energy will be retired by the end of 2029 as the United States aims to achieve a renewable future. Natural gas will be important in helping deliver affordable and clean power throughout our nation. Even so, gas-fired power is already at risk in many states that are looking to cut emissions more drastically. The Inflation Reduction Act will push residential and commercial customers toward renewable energy systems, while renewable portfolio standards will bolster the number of renewable energy facilities across the country. The US Energy Information Administration also expects natural gas output to push down through 2029, hindering growth. Overall, revenue is set to push down at a CAGR of 3.6% to $81.6 billion through 2029.

United States thermal energy storage market size is projected to exhibit a growth rate (CAGR) of 12.83% during 2025-2033. The increasing adoption of sustainable energy solutions, the escalating need for grid stability, the implementation of government incentives and policies, rising environmental awareness, rapid technological advancements, the expansion of the electric vehicle market, rising energy costs, and the surging demand to reduce carbon emissions are propelling the market growth.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on storage type, technology, material type, application, and end use.

Comprehensive dataset containing 2 verified Thermal power plant businesses in Nebraska, United States with complete contact information, ratings, reviews, and location data.

The United States thermal power market reached approximately USD 212.20 Million in 2024. The market is projected to grow at a CAGR of 1.80% between 2025 and 2034, reaching a value of around USD 253.64 Million by 2034.

Industrial activities are the greatest energy end-user sector in the United States, reaching a consumption of some 31 quadrillion British thermal units in 2024, followed by the transportation sector. The U.S. is the second-largest energy consumer in the world, after China. Energy source in the United States Consumption of fossil fuels still accounts for the majority of U.S. primary energy consumption. The transportation and industrial sectors are the sectors with the largest fossil fuel consumption in the country, the former relying on oil-based motor fuels. Electricity generation in the United States Although around 60 percent of the electricity generated in the U.S. is derived from natural gas and coal, the use of renewable sources is becoming more common in electricity production, with the largest increase in wind and solar power. These two clean energy resources are projected to generate as much power as natural gas by 2030.

Petroleum is the primary source of energy in the United States, with a consumption of 35.35 quadrillion British thermal units in 2024. Closely following, the U.S. had 34.2 quadrillion British thermal units of energy derived from natural gas. Energy consumption by sector in the United States Petroleum is predominantly utilized as a fuel in the transportation sector, which is also the second-largest consumer of energy in the U.S. with almost 30 percent of the country’s total energy consumption in 2024. This figure is topped only by the energy-guzzling industrial sector, a major consumer of fossil fuels such as petroleum and natural gas. Renewable energy in the United States Despite the prevalence of fossil fuels in the U.S. energy mix, the use of renewable energy consumption has grown immensely in the last decades to approximately 6.7 exajoules in 2024. Most of the renewable energy produced in the U.S. is derived from biomass, hydro, and wind sources. In 2024, renewable electricity accounted for approximately 24 percent of the nation’s total electricity generation.

The report covers North American Power Market Analysis and it is segmented by Generation (Conventional Thermal, Hydro, Nuclear, and Non-Hydro Renewable), Transmission and Distribution, and Geography (United States, Canada, and Rest of North America). The market size and forecasts are provided in terms of revenue (USD Billion) for all the above segments.

US Coal Market was valued at USD 49.0 Billion in 2024 and is projected to reach USD 41.69 Billion by 2032, growing at a CAGR of -2% from 2025 to 2032.

US Coal Market: Definition/ Overview

In the United States, coal is a fossil fuel that is extracted for use in power generation and industrial activities. It is mostly used to generate electricity in coal-fired power stations, where thermal coal is burned to create steam that drives turbines. In addition to electricity generation, coal, particularly metallurgical coal, is necessary in steel manufacturing as it is used to generate coke, a vital component in the blast furnace process. Despite the increasing use of renewable energy sources, coal remains an essential energy source for various sectors in the United States.

The US coal market is being driven by initiatives that reduce its environmental effect through innovations such as carbon capture and storage (CCS) and cleaner combustion technology. While coal's importance in power generation is likely to diminish as renewable energy sources such as wind and solar expand, it will continue to be critical for industries that require high-temperature processes, such as steelmaking. The global export market for US coal is projected to remain important, particularly in areas with limited access to other energy sources.

Coal consumption within the electric power sector in the United States fell to 373.8 million short tons in 2024. In the past decade, there has been a marked decline in the use of coal for electricity generation. Coal consumption peaked between 2005 and 2008, when over one billion short tons were used every year. However, with the promotion of natural gas as a bridge-fuel toward a greener power sector, coal as the dirtiest of fossil fuels has fallen out of favor and natural gas has succeeded coal in becoming the main fuel type used for electricity generation in the U.S. Coal use by sector Coal is used primarily by the power sector. An Edison plant built for New York City in 1882 was the first coal-fired electricity plant in the U.S. By the 1950s, coal was considered the leading source of fuel for electricity generation. Declines in coal usage occurred around 2007, amidst the increased availability of renewables and natural gas. Apart from the use of thermal coal for power production, coking coal is an important raw material used for steelmaking, and the industrial sector still consumes around one quadrillion British thermal unit every year. Coal power use around the world The U.S. is the third largest consumer of coal in the world, following China and India. China’s consumption exceeds the total of many other countries combined, reaching 92 exajoules compared to U.S.' 7.9 exajoules. Fossil fuels are still a primary source of fuel around the world. U.S. fossil fuel consumption reached some 77.4 quadrillion British thermal units in 2024.

Petroleum is the primary source of energy in the United States, with a consumption of 35.35 quadrillion British thermal units in 2024. Closely following, the U.S. had 34.2 quadrillion British thermal units of energy derived from natural gas. Energy consumption by sector in the United States Petroleum is predominantly utilized as a fuel in the transportation sector, which is also the second-largest consumer of energy in the U.S. with almost 30 percent of the country’s total energy consumption in 2024. This figure is topped only by the energy-guzzling industrial sector, a major consumer of fossil fuels such as petroleum and natural gas. Renewable energy in the United States Despite the prevalence of fossil fuels in the U.S. energy mix, the use of renewable energy consumption has grown immensely in the last decades to approximately 6.7 exajoules in 2024. Most of the renewable energy produced in the U.S. is derived from biomass, hydro, and wind sources. In 2024, renewable electricity accounted for approximately 24 percent of the nation’s total electricity generation.

The electric power sector in the United States had the highest renewable energy consumption in 2022, at about **** quadrillion British thermal units. In 2023, the industrial sector was expected to consume **** quadrillion British thermal units of renewable energy.

US energy production measures total energy production by nuclear, coal, crude oil and natural gas plant liquids, renewables and dry natural gas. Total energy production includes direct-use energy, energy derived from refined products and electricity generated from nuclear, coal, renewables and gas power plants. Data is sourced from the Energy Information Administration (EIA) and is measured in quadrillions of British thermal units (BTUs).

This dataset includes heat demand for potential application of direct use geothermal broken down into 4 sectors: agricultural, commercial, manufacturing and residential. The data for each sector are organized by county, were disaggregated specifically to assess the market demand for geothermal direct use, and were derived using methodologies customized for each sector based on the availability of data and other sector-specific factors. This dataset also includes a paper containing a full explanation of the methodologies used.