According to the latest report by IMARC Group, titled “Coal Fired Power Generation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global coal fired power generation market size reached 2,100 GW in 2022. Coal-fired power generation refers to the process of producing electricity by burning coal in power plants. It relies on pulverized coal (PC) plants, fluidized bed combustion (FBC) plants, and integrated gasification combined cycle (IGCC) plants, where coal is crushed into tiny particles, mixed with limestone or dolomite, and heated and combusted at a lower temperature. It can provide a steady and consistent electricity supply, making it suitable for baseload power generation. It helps to minimize the dependence on imported energy resources and provides a reliable source of energy by utilizing coal. Coal-fired power generation is predominantly used to provide electricity to the residential, commercial, and industrial sectors.
Global Coal Fired Power Generation Market Trends:
At present, the increasing demand for coal-fired power generation, as it is affordable and allows efficient utilization of existing resources, represents one of the crucial factors impelling the growth of the market. Besides this, the rising development of advanced combustion technologies and efficient processes to reduce emissions and improve the overall efficiency of coal-fired plants is contributing to the growth of the market. In addition, the growing integration of carbon capture and storage (CCS) technologies in coal-fired power plants to capture carbon dioxide emissions and transport them underground is offering a favorable market outlook. Apart from this, the increasing demand for energy in the residential and commercial sectors is supporting the growth of the market. Additionally, the rising installation of heavy machinery in industries to improve productivity is strengthening the growth of the market. Looking forward, the market volume is projected to reach 2,501 GW by 2028, expanding at a CAGR of 2.9% during 2023-2028.
- Based on the type, the market has been segmented into pulverized coal systems, cyclone furnace, and others. Pulverized coal systems currently dominate the market, holding the largest share.
- On the basis of the end user, the market has been segregated into residential, commercial, and industrial. At present, commercial represents the biggest market share.
- Region-wise, the market has been segmented into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Amongst these, North America is the leading market, accounting for the majority of the global share.
- The competitive landscape of the market has also been examined, with some of the key players being American Electric Power Company, China Huaneng Group Co. Ltd., Dominion Energy Solutions Inc., Duke Energy Corporation, Eskom Holdings SOC Ltd., Jindal India Thermal Power Limited, NTPC Limited, RWE Aktiengesellschaft, STEAG GmbH (Ksbg Kommunale Beteiligungsgesellschaft Gmbh & Co. Kg), Tenaga Nasional Berhad, etc.
|Base Year of the Analysis
||GW, US$ Billion
||Type, End User, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||American Electric Power Company, China Huaneng Group Co. Ltd., Dominion Energy Solutions Inc., Duke Energy Corporation, Eskom Holdings SOC Ltd., Jindal India Thermal Power Limited, NTPC Limited, RWE Aktiengesellschaft, STEAG GmbH (Ksbg Kommunale Beteiligungsgesellschaft Gmbh & Co. Kg) and Tenaga Nasional Berhad
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