Coal & Natural Gas Power in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: July 2024
NAICS 22111aRevenue
$98.2bn
Past 5-Year Growth
Profit
$XX.Xbn
Employees
63,758
Businesses
235
Wages
$X.Xbn
Coal & Natural Gas Power in the US industry analysis
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 $98.2 billion through 2024, including a 2.4% dip in 2024 alone.
Trends and Insights
- Natural gas overtook coal as the leading source of electric power for the United States in 2016. Gas-fired power plants generate 1.7 trillion kilowatt-hours of electricity in the United States.
- Independent power producers are non-utility generators that generate power for primary use by the public. They have made considerable inroads with the formation of more deregulated markets.
- Texas produces more gas-fired power than any other state. The state’s abundant and low-cost gas supply fuels its use in the South.
- Internal competition heats up with the growing prevalence of independent power producers (IPP). IPPs provide competition and choice for consumers and help to meet the growing need for low-cost electricity.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 0.1 % over the past five years, to reach an estimated $98.2bn in 2024.
Trends and Insights
The electric revolution hinders coals
- The United States relies upon fossil fuels to satisfy its massive appetite for electricity. While coal has historically been our nation's energy of choice, the dependency has recently shifted toward natural gas.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to decline over the next five years.
Trends and Insights
Natural gas as the key to unlocking a sustainable future
- Gas-fired power will continue playing a major role in helping deliver affordable and sustainable power to households and industrial consumers for years to come.
Biggest companies in the Coal & Natural Gas Power in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
The Southern Company | 15,367.2 | 3,871.6 | 25.2 | |
Duke Energy Corporation | 13,794.2 | 3,686.2 | 26.7 | |
Dominion Energy, Inc. | 13,745.6 | 3,569.5 | 26.0 |
To view the market share and analysis for all 5 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Gas-fired electricity and Coal-fired electricity. Gas-fired electricity is the largest segment of the Coal & Natural Gas Power in the US.
Trends and Insights
Gas-fired electricity runs hot
- A natural gas power plant is an industrial facility that converts thermal energy emitted from the heating of natural gas into electrical energy for use in a power grid.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Petroleum Refining in the US
- Nuclear Power in the US
- Hydroelectric Power in the US
Complementors
- Oil Drilling & Gas Extraction in the US
- Coal Mining in the US
- Electric Power Transmission in the US
International industries
- Thermal Power in Canada
- Fossil Fuel Electricity Generation in Australia
- Fossil Fuel Electricity Generation in New Zealand
- Electricity Production in the UK
- Electricity Production in Ireland
Table of Contents
About this industry
Industry definition
This industry operates fossil fuel-powered power plants, which burn coal and natural gas to power steam turbines that generate electricity. Industry operators sell generated power to regulated transmission and distribution utilities and on wholesale electricity markets. This industry does not include government-owned and operated power plants.
What's included in this industry?
Operate coal-fired steam generatorsOperate gas turbine power plantsOperate internal combustion power plantsOperate other fossil fuel power plantsCompanies
The Southern CompanyDuke Energy CorporationDominion Energy, Inc.Purchase this report to view all 5 major companies in this industry.
Related Terms
THERMAL COALKILOWATT-HOURELECTRICITY UTILITIESCLEAN POWER PLANIndustry Code
NAICS 221112 - Coal & Natural Gas Power in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Natural gas overtook coal as the leading source of electric power for the United States in 2016. Gas-fired power plants generate 1.7 trillion kilowatt-hours of electricity in...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Independent power producers are non-utility generators that generate power for primary use by the public. They have made considerable inroads with the formation of more dereg...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Texas produces more gas-fired power than any other state. The state’s abundant and low-cost gas supply fuels its use in the South.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Internal competition heats up with the growing prevalence of independent power producers (IPP). IPPs provide competition and choice for consumers and help to meet the growing...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Caithness Energy’s Guernsey Power Station is the largest industry-relevant power plant currently in development. The power station will produce 1.9 megawatts of power via 3 c...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of The Southern Company's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Duke Energy Corporation's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Dominion Energy, Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for 2 additional companies
Detailed analysis
- Description and key data for The Southern Company, and factors influencing its performance in the industry
- Description and key data for Duke Energy Corporation, and factors influencing its performance in the industry
- Description and key data for Dominion Energy, Inc., and factors influencing its performance in the industry
- Description, key data and performance trends for 2 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Coal and natural gas power producers endure some of the most stringent regulations. Regulations can be markedly different based on how a company’s energy is generated and tra...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Purchases of energy feedstock represent the industry’s largest expense. The world prices of steaming coal and natural gas have increased tremendously since the pandemic.
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Coal & Natural Gas Power in the US industry in United States in 2024?
The market size of the Coal & Natural Gas Power in the US industry in United States is $98.2bn in 2024.
How many businesses are there in the Coal & Natural Gas Power in the US industry in 2024?
There are 235 businesses in the Coal & Natural Gas Power in the US industry in United States, which has declined at a CAGR of 0.2 % between 2019 and 2024.
Has the Coal & Natural Gas Power in the US industry in United States grown or declined over the past 5 years?
The market size of the Coal & Natural Gas Power in the US industry in United States has been growing at a CAGR of 0.1 % between 2019 and 2024.
What is the forecast growth of the Coal & Natural Gas Power in the US industry in United States over the next 5 years?
Over the next five years, the Coal & Natural Gas Power in the US industry in United States is expected to decline.
What are the biggest companies in the Coal & Natural Gas Power in the US market in United States?
The biggest companies operating in the Coal & Natural Gas Power market in United States are The Southern Company, Duke Energy Corporation and Dominion Energy, Inc.
What does the Coal & Natural Gas Power in the US in United States include?
Operate coal-fired steam generators and Operate gas turbine power plants are part of the Coal & Natural Gas Power in the US industry.
Which companies have the highest market share in the Coal & Natural Gas Power in the US in United States?
The company holding the most market share in United States is The Southern Company.
How competitive is the Coal & Natural Gas Power in the US industry in United States?
The level of competition is moderate and increasing in the Coal & Natural Gas Power in the US industry in United States.
