USD 2193.54 GW
Coal-fired Power Generation Market Size, Share, Growth Analysis, By Technology(Pulverized Coal Systems, Cyclone Furnace and Others), By Application(Industrial Sector, Residential Sector and Commercial Sector), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG55E2030 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
61
|Figures:
65
Coal-fired Power Generation Market Insights
Global Coal-Fired Power Generation Market size was valued at USD 2193.54 GW in 2022 and is poised to grow from USD 2228.64 GW in 2023 to USD 2530.40 GW by 2031, growing at a CAGR of 1.6% in the forecast period (2024-2031).
The global coal-fired power generation market has been undergoing a complex transition influenced by many factors, including economic, environmental, and policy-related considerations. Historically, coal-fired power plants have been a dominant source of electricity generation worldwide due to their reliability and relatively low cost of operation.
However, in recent years, the industry has faced significant challenges stemming from concerns over carbon emissions, air pollution, and the declining cost competitiveness of coal relative to renewable energy sources. One of the primary drivers impacting the coal-fired power generation market is the global shift towards cleaner and more sustainable energy sources, such as solar, wind, and hydroelectric power.
Governments and regulatory bodies around the world have been implementing stringent environmental regulations aimed at reducing greenhouse gas emissions and combating climate change. As a result, many countries have been gradually phasing out coal-fired power plants or imposing stricter emission standards, which has led to a decline in the construction of new coal-fired facilities and the premature retirement of existing ones.
Furthermore, the declining cost of renewable energy technologies, coupled with advancements in energy storage and grid integration, has made renewables increasingly competitive with coal-fired power generation. In many regions, solar and wind power have become the preferred choice for new electricity generation capacity, outpacing investments in coal.
This trend has been further reinforced by the growing availability of financing for renewable energy projects and the rising demand from corporate and industrial consumers for clean energy solutions. In addition to environmental and economic factors, the COVID-19 pandemic has also had a significant impact on the coal-fired power generation market. The temporary slowdown in economic activity and the implementation of lockdown measures resulted in a decrease in electricity demand, leading to reduced utilization rates for coal-fired power plants.
Furthermore, the pandemic highlighted the vulnerabilities of fossil fuel-dependent economies, prompting governments and investors to reassess their energy strategies and accelerate the transition towards renewable energy sources. Despite these challenges, coal-fired power generation continues to play a significant role in many countries, particularly in regions with abundant coal reserves and limited access to alternative energy sources. However, the long-term outlook for the coal-fired power generation market remains uncertain, as the industry grapples with the dual challenges of environmental sustainability and economic viability in an increasingly carbon-constrained world.
As governments and businesses continue to prioritize decarbonization efforts, the transition towards cleaner and more sustainable energy systems is expected to accelerate, reshaping the global energy landscape and the role of coal-fired power generation within it.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Pulverized Coal Systems
Fastest Growth
Cyclone Furnaces
Growth Rate
1.6% CAGR
Global coal-fired power generation Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Coal-fired Power Generation Market Segmental Analysis
Global coal-fired power generation market is segmented on the basis of technology, application and region. By technology, the market is segmented into pulverized coal systems, cyclone furnaces and others. By application, the market is segmented into industrial sector, residential sector and commercial sector. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Technology
The largest market segment is Pulverized coal systems in the coal-fired power generation market. This technology encompasses the reduction of coal into fine particles. They are then burned in an ignition chamber to produce steam, which drives a turbine to generate power. The appeal of pulverized coal systems lies in their age-old presence, cost-effectiveness, and proven efficiency. While these systems are considered as more environmentally infecting than some innovative technologies, Still It remains widely adopted, predominantly in regions with significant coal reserves. In spite of their prominent position, the share of pulverized coal systems is regularly deteriorating as environmental concerns drive the industry to explore more efficient and cleaner alternatives.
Cyclone furnace technology is the fastest adopting technology in the coal-fired power generation market. Cyclone furnaces are considered to burn coal particles in a cyclonic flow, which results in increased combustion efficiency and reduced carbon emissions. As the environmental regulations and guidelines become more severe, this cyclone furnace technology has gained traction as a more environmentally friendly option. Cyclone furnace technology is experiencing steady growth as operators seek to reduce their environmental footmark and enhance the efficiency of their power plants.
Analysis by Application
Industrial sector has emerged as the largest segment in the coal-fired power generation market in 2022. The high energy demand of industries, such as manufacturing, constructing, mining, and heavy machinery, which rely on a stable and consistent power supply. Coal-fired power plants have traditionally been the pillar of industrial energy supply, which is offering stability and cost-efficiency, making it the largest contributor to the market's share. Though, this segment is undergoing a revolution, with many industrial players actively seeking to reduce their carbon footmark and transition to cleaner energy sources. Thus, the industrial sector's demand for coal-fired power may see steady growth.
In recent years, the fastest-growing segment in the coal-fired power generation market is the residential sector in certain developing regions. This growth is repeatedly driven by population growth and urbanization in areas with limited access to modern energy sources. As more households gain access to electricity and urbanize, the demand for power in this sector is expected to increase, providing a growth opportunity for coal-fired power generation.
Global coal-fired power generation Market By Technology
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Coal-fired Power Generation Market Regional Insights
The Asia-Pacific region continues to be the largest region in the global coal-fired power generation market. Coal plays a significant role in fulfilling the energy demands of these rapidly growing economies, with a broad reliance on coal-fired power plants. Countries such as China and India are categorized by their wide coal reserves and a huge industrial and residential energy demand. Coal is the primary source of electricity in these nations, with a wide network of coal-fired power plants. While coal continues to dominate the region, the transition towards cleaner technologies progressively gains momentum, driven by technological advancements, and government initiatives.
Latin America maintains a substantial coal-fired power generation region and emerged as the fastest growing region, often tangled with the mining industry. In the Latin America region, coal is vital for ensuring energy access and supporting industries. Additionally, Latin America faces similar challenges and opportunities as the rest of the world but has been somewhat more resistant to a rapid shift away from coal. In Latin America natural gas shows a major barrier for the coal-fired power generation market, mainly due to its lower emissions compared to coal, and its use as a transition fuel. While coal maintains a prominent position, the region is increasingly exploring cleaner energy alternatives.
Global coal-fired power generation Market By Region
- Largest
- Fastest
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Coal-fired Power Generation Market Dynamics
Drivers
Cost-Efficiency
- Coal has traditionally been a comparatively inexpensive source of energy, which has made coal-fired power generation attractive for its low initial capital costs and low operational costs. The abundance of coal reserves and mines in some regions has contributed to its cost-efficiency. Though, the cost efficiency of coal-fired power generation can vary based on factors such as the type of coal used, the age and proficiency of the power plants, and the cost of carrying coal to the plants.
Restraints
Clean and Green Energy efficient power sources
- One of the major restraints for the market is, the world continuously shifting on clean and green energy efficient power sources. While Coal-fired power generation is a major source of greenhouse gas emissions which is causative in climate change and air pollution. The rapid growth of renewable energy sources such as solar, wind, and hydropower is providing a cleaner and more sustainable alternative to coal. Natural gas power plants and renewable energy technologies can produce electricity more efficiently and with fewer emissions than older coal plants. That’s why this restraint shows as a barrier for the coal-fired power generation market.
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Coal-fired Power Generation Market Competitive Landscape
The coal-fired power generation market is categorized by strong competition among key players striving to capture a significant market share. Leading companies are consistently engaged in innovation, strategic partnerships, and product advancements to maintain their competitive edge. As the market witnesses rapid technological advancements, smaller players and startups also contribute by introducing niche solutions and innovative technologies, contributing to the dynamic and ever-evolving competitive dynamics within the global smart building arena.
Top Player’s Company Profiles
- PacifiCorp
- STEAG
- China Huaneng Group
- Alabama Power
- National Thermal Power Corporation Limited (NTPC)
- Eskom Holdings SOC Limited
- DTE Energy
Recent Developments
- In October 2023, NTPC announced that its electricity generation capacity increased to 73.82GW with the addition of a coal-fired plant in the southern state of Telangana, which is likely to boost coal consumption.
Coal-fired Power Generation Key Market Trends
- Coal-fired power generation is a relatively inexpensive and reliable source of electricity: As Coal is a relatively abundant resource in many developing countries with cost effective prices, making it a more attractive option than other energy sources. The increasing demand for electricity in emerging countries is a key market trend that is driving the coal-fired power generation market. This trend is anticipated to continue in the coming years, as developing countries continue to experience rapid economic growth and urbanization.
Coal-fired Power Generation Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our business information component types team that collects, collates, co-relates, and analyses the data collected by means of primary exploratory research backed by robust secondary desk research.
According to our global coal-fired power generation market analyses, the market is witnessing significant growth driven by a convergence of factors such as the increasing demand for energy efficiency and streamlined operations in various industries. The integration of advanced technologies into coal-fired power generation systems is fostering the development of cost effective power solutions that optimize energy consumption and most prior source of power generation. The abundance of coal reserves is primarily driving the market towards growth. The region where coal is easily available is mostly dependent on coal to produce electricity. Overall the market seems to be expanding in the coming years.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 2193.54 GW |
| Market size value in 2031 | USD 2530.40 GW |
| Growth Rate | 1.6% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD GW |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Coal-fired Power Generation Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Coal-fired Power Generation Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Coal-fired Power Generation Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Coal-fired Power Generation Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Coal-fired Power Generation Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Coal-fired Power Generation Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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