COAL FIRED POWER GENERATION MARKET ANALYSIS

Coal-fired power generation is a thermal power station plant that burns coal to generate electricity. Gasification, pulverized coal firing, coal cyclone furnace, and fluidized bed combustion are some of the technologies used in the generation of power. Coal is a a major source of power generation plants.

The global coal fired generation market was estimated to account for 2,057.6 Giga Watts in terms of volume by the end of 2019.

Drivers:

Easy availability of raw materials across the Asia Pacific region is primarily fueling the market growth of the coal-fired power generation. Coal is a major source of power generation and Coal-fired power generation. China, India, Indonesia, and Australia are the major producers of coal. Thus, the ready availability of the coal in Asia Pacific region is fueling the market growth of the coal fired power generation.

Rising demand for electricity is expected to augment the market growth of coal-fired power generation. This is attributed to the increasing population which is creating demand for the residential sector. Rapid industrialization and urbanization along with the need for the energy in heavy industries is again expected to propel the market growth of the coal fire power generation. Thus, the growing demand for electricity is projected to propel the market growth.

Figure 1. Global Coal Fired Power Generation Market Share (%) in terms of Volume, By Region, in 2019

To learn more about this report, request sample copy

Asia Pacific region dominated the global coal fired power generation Market in 2019, accounting for 57.3% share in terms of volume, followed by North America and Europe respectively.

Market Restraints

The advent of environmentally friendly technologies is expected to hamper the market growth of coal-fired power generation. Strict regulations regarding greenhouse gas emissions are encouraging manufacturers to launch green technologies. This is expected to hinder the market growth of coal-fired power generation.

The health issues associated with the coal-fired power generation as they release harmful gases which lead to various respiratory problems such as asthma. This is expected to hamper the market growth of coal-fired power generation.

Market Opportunities

Advancement in combustion technologies is expected to provide potential opportunities over the forecast period. This is attributed to growing awareness regarding greenhouse emissions. Moreover, the growth in the residential sector coupled with the increasing R &D to enhance the efficiency and lower operating costs is again expected to augment the market growth of the coal-fired power generation over the forecast period.

An increase in the number of coal-fired power generation plants around the globe is expected to offer profitable market opportunities over the forecast period. For instance, in February 2020, Japan announced that it is planning to build up to 22 new coal power plants at 17 different sites in the next five years. Thus, an increasing number of coal-fired power generation plants is expected to bolster the market growth of the coal-fired power.

Figure 2. Global Coal Fired Power Generation Market– Opportunity Analysis

To learn more about this report, request sample copy

Market Trends/Key Takeaways

Growth in the textile, refineries, steel, and information technology is expected to augment the market growth of the coal-fired power generation. Increasing production of coal as they are efficient and do not have price volatility issues is increasing their demand across various industries.

An increasing number of international players in the domestic market is a key trend. Various international manufacturer is expanding their presence on the global as well as a regional basis in order to increase their business output. This factor is expected to augment the market growth of the coal-fired power generation over the forecast period.

Figure 3. Global Coal Fired Power Generation Market Share (%) in terms of Volume, By Application, in 2019

To learn more about this report, request sample copy

On the basis of application in 2019, the commercial has accounted the largest market share of 56.7% in terms of volume, followed by residential segment.

Global Coal Fired Power Generation Market- Impact of Coronavirus (Covid-19) Pandemic

The sudden outbreak of the novel coronavirus has put the world to halt. The coal industry is among the worst affected industries, lockdowns has caused temporary and even permanent closures of power plant across the globe. The EU imports of coal for thermal power plants plunged by almost two-thirds in recent months to reach lows not seen in 30 years. The aforesaid reasons are some of the key factors expected to hamper the market growth.

Competitive Section:

Company Names 

1. American Electric Power Company Inc.
2. China Datang Corporation
3. China Huaneng Group
4. Dominion Energy Solutions
5. Duke Energy Corporation
6. E.ON SE
7. Eskom Holdings SOC Ltd.
8. Georgia Power Company
9. Jindal India Thermal Power Limited
10. Korea Electric Power Corporation
11. National Thermal Power Corporation Limited