COAL FIRED POWER GENERATION MARKET ANALYSIS

Coal Fired Power Generation MarketSize and Trends

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.

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

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

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

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.

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.