Increasing energy demand, the cheap price of coal as a fuel, and the size of coal deposits in different nations are the main factors influencing market revenue growth. Moreover, it is anticipated that the market would see revenue growth due to the demand for a regular and reliable supply of energy in growing economies.
The global Coal Power Generation Market size was USD 2024.83 GW in 2022 and is expected to register a revenue CAGR of 1.6% over the forecast period, according to the latest report by Reports and Data.
Governments worldwide have taken steps to address environmental concerns stemming from coal power generation. The United States’ Environmental Protection Agency (EPA) has introduced the Clean Air Act to limit air pollution from coal-fired power plants. Likewise, China is encouraging the adoption of cleaner energy sources and enforcing stricter environmental regulations. Such measures are expected to drive revenue growth in the coal power production industry by increasing compliance costs and promoting the use of eco-friendlier alternatives.
Rising energy consumption, expanding population, and fast urbanisation are driving revenue growth in the coal-fired power production industry. Coal power generation is a cost-effective source of electricity that can provide a continuous and regular supply of electricity to satisfy escalating demand. Moreover, demand for coal power generation systems is projected to be driven by the need for a constant and stable power supply in emerging economies.
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Top Lading Players: China Huaneng Group, NTPC Limited, Korea Electric Power Corporation, China Datang Corporation, The Southern Company, RWE AG, Duke Energy, China Huadian Corporation, Tokyo Electric Power Company Holdings, and E.ON SE.
Some Key Highlights from the Report:
- In 2022, the pulverised coal systems segment had the highest revenue share. Pulverized coal systems are extensively utilised because they have a high efficiency rate and can generate huge amounts of power. These devices are also inexpensive and simple to install into existing power facilities. Increasing energy demand in emerging nations, along with low coal prices, is likely to boost revenue growth in this area throughout the projection period.
- In 2022, the industrial segment had the highest revenue share. Coal power is an important source of electricity for many energy-intensive sectors, including steel, cement, and iron, and it is also used to power heavy-duty gear and equipment. As a result, the industrial sector consumes the most coal power, and demand is predicted to expand significantly throughout the projection period.
- In 2022, the Asia Pacific market represented the largest revenue share. In emerging countries like China and India, where energy demand is strong, coal power output is predicted to increase. In addition, as coal power generation is one of the primary energy sources in the area, it is anticipated that the rising industrialization and urbanisation of the region would result in a high demand for electricity. According to reports, China is one of the greatest users of coal, and it is anticipated that China will continue to play a significant role in the market for coal-fired power production. Due to the Chinese government’s emphasis on energy security and encouragement of the use of renewable energy sources, the market for coal power production in the region is anticipated to grow.
Segments covered in the report:
Technology Outlook (Revenue, USD GW; 2022 – 2032)
- Pulverized Coal Systems
- Cyclone Furnaces
- Fluidized Flame Combustion
- Coal Gasification
Application Outlook (Revenue, USD GW; 2022 – 2032)
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- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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