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Thermal Power in Ontario

Author.Name IBISWorld Canada Last Updated: August 2025 NAICS ON22111aCA

Thermal Power in Ontario industry analysis

Revenue for the Thermal Power industry in Ontario is expected to decline an annualized -x.x% to $x.x billion over the five years to 2025, while revenue for the national industry will likely decline at -x.x% during the same period. The number of industry establishments has decreased an annualized -x.x% to xx locations over the past five years. Industry employment has increased an annualized x.x% to x,xxx workers during the period, while industry wages have decreased an annualized -x.x% to $x.x million.

Over the five years to 2030, provincial industry revenue is expected to grow an annualized x.x% to $x.x billion, while revenue for the national industry will likely grow x.x%. The number of industry establishments is forecast to grow x.x% to xx locations over the next five years. Industry employment is expected to decrease an annualized -x.x% to x,xxx workers during the outlook period, while industry wages likely decrease -x% to $x.x million.

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About the Thermal Power in Ontario Market Research Report

What’s Included in the Thermal Power in Ontario Market Research Report

Definition of the Thermal Power in Ontario?

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 isn't included in this industry.

What’s included in the Thermal Power in Ontario?

The Thermal Power in Ontario includes generating electricity through nuclear power plants, generating electricity through coal power plants, generating electricity through natural gas power plants and generating electricity through other fossil-fuel power plants. Related terms covered in the Thermal Power in Ontario industry report includes businesses or enterprises that are owned solely by the federal or provincial governments, the amount of energy required to produce one watt of power for one second and technology that reduces the emissions from the burning of coal.

Industry Performance of the Thermal Power industry in Ontario

Benchmark the Thermal Power in Ontario industry performance with all ON Census Metropolitan Area and national performance.

Thermal Power in Ontario

#2 in Highest Revenue 18.3% of province's GDP
Revenue (2025)
Annual Growth (2020-25)
Annual Growth (2025-30)

Thermal Power in Canada


Revenue (2025)
Annual Growth (2020-25)
Annual Growth (2025-30)

For the full list of industry drivers, see report purchase options.

Key Drivers of the Thermal Power industry in Ontario

See how key industry drivers, such as gross domestic product, private investment in non-residential construction, bachelorsed, electric power consumption, price of electric power and world price of uranium are impacting Thermal Power in Ontario

Ontario Economic Indicators

Gross Domestic Product
Private Investment in Non-Residential Construction
BachelorsEd

View more economic information in ON State Economic profile

Canada Key External Drivers

Electric power consumption
Price of electric power
World price of uranium

For the full list of industry drivers, see report purchase options.

Census Metropolitan Area Data of the Thermal Power industry in Ontario

Access proprietary data on Census Metropolitan Area in the Thermal Power in Ontario, such as Toronto, Sarnia and Windsor. Data includes figures on revenue, establishments, employees and wages by Census Metropolitan Areas.

Key Statistics of the Thermal Power industry in Ontario

Download 18 years of historical data and 5 years of projected performance.

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Top Questions Answered in this Report

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What is the market size of the Thermal Power industry in Ontario in 2025?

The market size of the Thermal Power industry in Ontario is $3.5bn in 2025.

How many businesses are there in the Thermal Power industry in Ontario in 2025?

There are 22 businesses in the Thermal Power industry in Ontario, which has been declining at an average annual rate of -2.5% from 2020 to 2025.

Has the Thermal Power industry in Ontario grown or declined over the past 5 years?

The market size of the Thermal Power industry in Ontario has been declining at an average annual rate of -5.1% from 2020 to 2025.

How many employees in the Thermal Power industry in Ontario in 2025?

There are 4,003 employees in the Thermal Power industry in Ontario, which has been growing at an average annual rate of 1.2% from 2020 to 2025.