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Global Clean Coal Technologies Market to Reach US$ 4.6 Billion by 2027, Catalyzed by Surging Power Demand and Consumption

Published on Sep 13, 2022

IMARC Group’s latest report, titled “Clean Coal Technologies Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the global clean coal technologies market size reached US$ 3.7 Billion in 2021. Clean coal technologies, or CCTs, refer to advanced coal utilization processes designed to improve the efficiency and environmental acceptability of coal extraction, preparation, and use. Some commonly used technologies include integrated gasification combined cycle (IGCC), selective catalytic reduction (SCR), flue gas desulfurization, and fluidized-bed combustion. They also comprise other technologies that purify coal to remove unwanted minerals before the commencement of the combustion process. They assist in minimizing the adverse environmental effects of burning coal for power generation by lowering the levels of carbon, sulfur dioxide (SO2), and nitrogen oxide (NOx) emissions into the environment. Since these technologies employ coal to generate electricity at low costs while meeting environmental regulations, CCTs are gaining immense traction across the globe.

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:

The surging power demand and consumption represents the primary factor driving the market growth. Moreover, the shifting inclination toward clean and reliable power generation processes is another major growth-inducing factor. Additionally, there has been widespread adoption of hybrid-power projects that burn natural gas in coal-fired boilers to improve operational flexibility, reduce greenhouse gas (GHG) emissions, and maintain the efficiency of supercritical pulverized coal-fired power plants and ash-handling systems. Along with this, significant growth in industrial activities that require power, such as automotive manufacturing and construction, has augmented the demand for CCTs to lower carbon emissions and utilize sustainable energy sources. Furthermore, governments of various countries are taking favorable initiatives toward a cleaner environment and introducing stringent regulations to control carbon emissions. Besides this, extensive investments in innovative zero-emission CCT for minimizing nitrogen oxide and sulfur dioxide emissions to enable the utilization of coal to produce electricity at reduced costs while fulfilling critical environmental objectives have catalyzed market growth. Other factors, including the surging need for compatible and eco-friendly power generation technology, rapid industrialization, ongoing research and development (R&D) activities, and technological advancements, are also providing a positive thrust to the market growth. Looking forward, IMARC Group expects the market value to reach US$ 4.6 Billion by 2027, expanding at a CAGR of 3.53% during 2022-2027.

Market Summary:

  • Based on technology, the market has been classified into supercritical, ultrasupercritical, integrated gasification combined cycle (IGCC), and others.
  • Region-wise, the market has been divided 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 analyzed, 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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