Coal Fired Power Generation Market - Global Industry Analysis 2019 | Research Report
Global Coal Fired Power Generation Market: Snapshot
As
the production and distribution of coal has been increasing worldwide,
the global market for coal fired power generation will gain traction
over the forthcoming years. Several regions of the world have been
witnessing a shortage of power, apart from the problem of interrupted
supply of power. Even though non-conventional energy sources such as
wind energy, solar energy and hydro energy are being adopted on a global
scale, coal is still used by the majority of population located in the
developing economies.
This
85 page report gives readers a comprehensive overview of the Coal Fired
Power Generation Market. Browse through 16 data tables and 18 figures
to unlock the hidden opportunities in this market.
As
coal fired power generation is easily available due to stable supply of
raw materials, the demand for this technology is slated to grow at a
considerable pace. Numerous industries including chemicals steel, and
refining have been responsible for the escalating need for coal fired
power generation, propelling the market. Numerous residential
applications are also exhibiting growing demand for different varieties
and grades of coal.
The global market for coal fired power generation is expected to expand at a CAGR of 3.1% during the forecast period 2013-2019.
Establishment of New Power Plants in Asia Pacific Promises Growth
By
region, the global market for coal fired power generation can be
segmented into Asia Pacific, North America, Europe, and the Rest of the
World (RoW). Asia Pacific is the region with optimal growth
opportunities. Not only did Asia Pacific lead the market in 2012,
holding a share of 56% of the global market for coal fired power
generation, but also has been presently registering an incomparable rate
of growth.
The
coal fired power generation market in Asia Pacific is driven by
creation of new power plants and growing industrialization activities.
Indonesia, Australia, China and India ranked amongst the foremost
producers of coal in the past. Heavy dependence on coal fired power
generation and ample availability of coal in Asia Pacific are also
driving the growth of the global market for coal fired power generation.
While
North America offers major opportunities for growth as well, Europe is
likely to display a diminishing demand for coal. As a result, the growth
of the market is negatively affected due to greater preference for
renewable energy in European countries such as France, the U.K, Italy,
Germany, and Spain.
Clean, Eco-Friendly Technologies to Gain Higher Acceptance
The
global market for coal fired power generation can also be segmented on
the basis of technology and application. By technology, the global
market for coal fired power generation was led by pulverized coal
systems in 2012. In combination with cyclone furnaces, pulverized coal
technology becomes highly productive.
However,
with the rising concerns about greenhouse gas emissions resulting from
the combustion of fossil fuels such as coal, the global demand has been
shifting from conventional energy sources to more eco-friendly
alternatives. Coal gasification and fluidized beds are some cleaner
methods for generation of coal-based energy. Consequently, these
technologies are expected to register a high growth rate over the
forecast period.
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By
application, chemicals, textiles, refineries, steel, and information
technology are some of the leading applications of the global market for
coal fired power generation. The commercial sector claimed the largest
share of 56% in the international market for coal fired power generation
in 2012. However, the residential sector has been exhibiting greater
demand for hydro power and solar power. As a result, the growth of the
global coal fired power generation market might face key obstructions.
KEPCO,
China Datang Corporation, China Huaneng Group, and Shenhua Group are
some prominent companies operating in the global market for coal fired
power generation.
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