Industry Overview - Thermal power generation refers to the process of generating electricity by burning fuels such as oil, coal, and natural gas to produce heat, which is then used to convert water into high-temperature, high-pressure steam that drives generators. Despite the rapid development of renewable energy, thermal power will remain a significant component of electricity supply in the short term. Innovations in materials and manufacturing processes will drive the industry towards higher performance and more environmentally friendly solutions [1]. Development History - The thermal power generation industry in China has developed over more than 70 years, forming a complete industrial system dominated by coal power and supplemented by gas power. As of the end of December 2024, the total installed power generation capacity in the country is approximately 3.35 billion kilowatts, a year-on-year increase of 14.6%. Among this, thermal power capacity is about 1.45 billion kilowatts, up 3.8%; solar power capacity is approximately 890 million kilowatts, up 45.2%; and wind power capacity is about 520 million kilowatts, up 18.0% [2]. Market Competition Status - The national thermal power market has formed a diversified competitive landscape led by five major central enterprises and supplemented by local state-owned enterprises and private capital. Major companies like the State Energy Group and Huaneng leverage their advantages in the industrial chain to stabilize fuel price fluctuations. Provincial energy groups maintain strong influence in local markets due to favorable policies. As the electricity spot market trial progresses, competition among power generation groups is shifting from installed capacity to cost control per kilowatt-hour, with some companies enhancing marginal profits through digital fuel management systems and optimized unit scheduling strategies. The market competition is expected to show three significant trends: leading companies will enhance industry concentration through mergers and acquisitions, specialized operators will capture the frequency regulation service market relying on technological advantages, and cross-industry competitors will enter the comprehensive energy service field with new models. Market players need to prepare strategically by establishing flexible asset portfolios to cope with policy fluctuations, cultivating carbon asset management capabilities to seize market opportunities, and building digital infrastructure to improve operational efficiency. Ultimately, the companies that succeed will be those that can ensure energy security while proactively positioning themselves for a zero-carbon transition [5][7]. Development Trends - The next decade will be a critical phase for the transformation of China's thermal power generation industry. From the perspective of energy security, the dominant position of coal as a primary energy source will not change in the short term, but the role of thermal power will inevitably shift from a base-load power source to a regulating power source, requiring companies to reassess asset values. Technological advancements such as 700℃ ultra-supercritical and IGCC will enhance industry efficiency, while artificial intelligence-enabled smart operations may become a new breakthrough for cost reduction and efficiency improvement. The policy environment will reshape the industry's profit model through improved capacity compensation mechanisms and expanded carbon market coverage. The future of the thermal power industry lies not in repeating past scale expansions but in innovatively defining its new role in the new power system. In this process, technological iteration serves as the oar, market mechanisms as the rudder, and the concept of sustainable development should be the ever-burning lighthouse guiding the way. The Chinese thermal power industry is writing its own transformation chapter in the grand narrative of the energy revolution [8].
火力发电项目可行性研究报告-市场全景调研分析及投资可行性研究预测 （商业计划书）
Sou Hu Cai Jing·2025-07-28 08:21