Coal-fired power generation is a power plant that generates electricity by burning coal. Their use offer around 40% of the world electricity and widely used across developing regions. It requires a huge amount of coal to generate electricity. They are widely used across residential as well as the commercial sector.
The global coal fired generation market is estimated to account for 2,057.6 Giga Watts in terms of volume by the end of 2019.
Drivers:
Coal gasification and fluidized bed combustion are witnessing huge demand due to their lower emission standards. Such technologies are expected to experience robust growth due to strict rules and regulations imposed by the government. This has shifted electricity provider company’s preferences towards green technologies such as coal gasification and fluidized bed combustion. This is expected to augment the market growth over the forecast timeframe.
Market Opportunities
An increasing strategic partnership among key players for developing for efficient’ coal-fired power plants is expected to serve major growth opportunities. For instance, in July 2019, NTPC has announced that it has signed a Memorandum of Understanding with BHEL to Install World’s ‘Most Efficient’ Coal-Fired Power Plant. The plant would result in a reduction of carbon dioxide emissions by about 20 percent as compared to conventional sub-critical technology.
Market Restraints
Increasing habitat destruction due to mining of coal as coal mines are not safe for human habitation as the land can cave anytime. Also, coal-fired power generation plant generates lots of waste which cannot be recycled or reused and this waste contains a huge amount of harmful substance which have a negative impact in the environment. This is expected to hinder the market growth over the forecast timeframe.
Key Takeaways:
Commercial segment dominated the global coal fired generation market in 2019, accounting for 56.7% share in terms of volume, followed by residential segment.
Pulverized coal system segment dominated the global coal fired generation market in 2019, accounting for 50.1% share in terms of volume, cyclone furnaces and others, respectively.
