Coal Power Generation Market: Residential Application Segment Dominated And Accounted For The Volume Share

 Coal Power Generation Industry Overview

The global coal power generation market demand to reach 2,228.32 GW by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 1.6% from 2020 to 2028. Strong energy demand is expected to drive the coal industry to generate electricity. Coal is a key material for electricity generation owing to its abundant availability and low cost. The COVID-19 pandemic has resulted in stagnated growth of industrial activities around the globe owing to lockdown measures imposed in most countries, which has reduced the demand for new coal-based plants for power generation in industrial sectors.

 

Its demand from prospective industrial customers is expected to be on the lower side on account of funds that were previously allotted for industrial development but were diverted to combat the COVID-19 crisis. Pulverized coal firing is traditionally the most widely used technology over cyclone furnaces or others due to higher thermal efficiency and lesser emissions. The factors, such as high emission rate, are expected to cater to the growth of Cleaner Circulating Fluidized Bed (CFB) systems with 1.0% CAGR over the forecasted period in comparison with the traditional technologies.

Uniper SE plans to end the commercial production of electricity of its Heyden 4 hard coal power plant in Germany by January 2021 and close the plant completely by July 2021. In October 2019, NTPC announced that it installed two 660 MW units at the Tanda and Khargone super thermal power generation stations. The availability of raw material is a key factor that affects any production process, controls its setup, and helps drive market growth. In the case of coal-fired power generation, coal is utilized as an energy source and is a major raw material used for power production.

 

Coal Power Generation Market Segmentation

Grand View Research has segmented the global coal power generation market based on technology, application, and region:

Based on the Technology Insights, the market is segmented into Pulverized, Cyclone Furnaces, and Others.

  • The pulverized coal systems technology segment led the market in 2020. The segment accounted for the maximum volume share of over 47.0% of the global market in 2020. On the basis of technology, the market can be segmented as pulverized coal systems, cyclone furnaces, and others. The pulverized technology segment is anticipated to maintain its dominance over the forecast period.

 

  • It is the most widely preferred technology to cyclone furnaces or others due to higher thermal efficiency and lesser emissions. The factors, such as the high emission rate, are expected to cater to the growth of Cleaner Circulating Fluidized Bed (CFB) systems over the forecasted period. On the other hand, the others technology segment is estimated to register the fastest CAGR of more than 3% from 2021 to 2028.

 

Based on the Application Insights, the market is segmented into Residential, and Commercial & Industrial.

  • The residential segment dominated the global market in 2020. The segment accounted for the highest volume share of more than 56.5% and it is expected to continue its dominance during the forecast period. This growth can be credited to the factors, such as rapid industrialization, especially in emerging nations.

 

  • Increasing construction spending for the development of residential buildings owing to the growing population coupled with the rising disposable income levels is expected to boost the demand for energy over the forecast period. Furthermore, due to the growing urbanization, national grids are getting pressurized, which is resulting in the increased demand-supply gap for power, which in turn, is eventually driving the market.

 

Coal Power Generation Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

 

Key Companies Profile & Market Share Insights

The market is highly competitive with the presence of several global and a few medium-and small-scale regional players. Key companies compete based on their product development capabilities and new technologies used in product formulations. Established players are investing in the development of innovative and sustainable solutions for formulating new and advanced plastics to gain an edge over their competitors. In October 2020, NTPC mentioned that its NTPC Dadri is undergoing modernization and upgrade to become the cleanest coal power plant in the country by following the Central Pollution Control Board procedures related to emissions. Some of the prominent players operating in the global coal power generation market are:

  • Uniper SE
  • China Shenhua
  • China Huadian Corporation Ltd. (CHD)
  • Dominion Energy
  • NTPC Ltd.
  • KEPCO Engineering & Construction Company, Inc.
  • Steag GmbH
  • Duke Energy Corp.

 

Order a free sample PDF of the Coal Power Generation Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

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Grand View Research, Inc.

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