The latest report by IMARC Group, titled “Clean Coal Technologies Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” finds that the global clean coal technologies market size reached US$ 2.9 Billion in 2019. Coal is among the widely used fossil fuels across the globe. However, coal combustion leads to significant amounts of carbon emissions annually. As a result, several clean coal technologies (CCT) have been developed that reduce the adverse environmental effects of the process by containing carbon emissions. The most commonly used technologies include integrated gasification combined cycle (IGCC), selective catalytic reduction (SCR), flue gas desulfurization and fluidized-bed combustion. These technologies are designed to enhance the efficiency and environmental acceptability of coal extraction, preparation, and use.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Clean Coal Technologies Market Trends:
At present, coal is utilized for generating around a third of the total electricity produced globally, as well as more than two-thirds of the total steel production. The extensive utilization of coal for these processes results in around 14 billion tons of carbon dioxide (CO2) annually. Owing to this, various organizations have developed CCT that is both cost-effective and energy-efficient and can be utilized by future generations without contributing to global warming. Apart from this, the widespread adoption of hybrid-power projects has escalated the demand for CCT to minimize the overall carbon emissions, enhance operational flexibility and utilize sustainable sources of energy. Moreover, governments of several countries are imposing stringent policies, coupled with stricter emission regulations, to promote the use of renewable and cleaner technologies. They are also investing in the research and development (R&D) of new-generation zero-emission CCT for reducing nitrogen oxide and sulfur dioxide emissions, which will enable them to utilize coal to generate electricity at low costs while meeting critical environmental objectives. Looking forward, the market value is projected to reach US$ 3.9 Billion by 2025, expanding at a CAGR of 5.0% during 2020-2025.
- Based on the technology, the market has been segmented into supercritical, ultra-supercritical, integrated gasification combined cycle (IGCC) and others.
- Region-wise, the market has been segmented into North America (the United States and Canada), Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia and others), Europe (Germany, France, the United Kingdom, Spain, Russia, Italy and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being Alstom SA, Babcock & Wilcox Enterprises Inc., Clean Coal Technologies Inc., General Electric Company, Mitsubishi Heavy Industries Ltd., Shanghai Electric Power Company Limited and Siemens AG.
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