Coal Power Generation Industry Overview
The global coal power generation market demand was valued at 1,961.56 GW in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 1.6% from 2020 to 2028.
The high energy demand is expected to drive the coal industry to generate electricity. Coal is a key product for electricity generation owing to its abundant availability and low cost compared to other electricity generation technologies. These factors are expected to propel the growth of the market during the forecast period. The supply chain of the coal power generation model was majorly affected due to the shutdown of production facilities owing to lockdowns imposed in the majority of the countries around the globe. In addition, local and international travel restrictions, quarantine requirements, and lockdowns further delayed the shipments of manufactured parts that were in process of delivery.
Gather more insights about the market drivers, restrains and growth of the Global Coal Power Generation market
China is home to around half the globe’s current coal capacity and coal power projects are under construction. Provincial authorities are encouraging the building of new coal power plants to stimulate economic activity, despite high risks of stranded assets and overcapacity. The pipeline of new coal power projects in China has further augmented during the first quarter of 2020.
The supply chain of the coal power generation model was majorly affected due to the shutdown of production facilities owing to lockdowns imposed in the majority of the countries around the globe. Additionally, local and international travel restrictions, quarantine requirements, and lockdowns further delayed the shipments of manufactured parts that were in process of delivery.
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 energy technology and is a major raw material used for power production. In the Asia Pacific region, countries such as China, India, Indonesia, and Australia are the major producers of coal. The Asia Pacific region alone contributed to around two-thirds of the global coal production in 2020. This ready availability of raw material makes the production process cheaper and helps in making coal the most reliable technology for power production even in a peak-demand situation.
However, the availability of natural gas in large quantities, coupled with its relatively lower prices, especially in regions, such as North America, China, and Thailand, has led to an increase in power generation using natural gas. Increasing focus on generating electricity through cleaner technologies and the degradation of coal reserves are the factors anticipated to increase the share of gas turbines in the global energy mix, thereby providing a positive environment for the growth of the gas turbine service sector. Hence, these factors are expected to have a negative impact on the growth of the market during the forecast period.
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Coal Power Generation Market Segmentation
Grand View Research has segmented the global coal power generation market based on technology, application, and region:
- Coal Power Generation Technology Outlook (Volume, GW, 2016 – 2028)
- Cyclone Furnaces
- Coal Power Generation Application Outlook (Volume, GW, 2016 – 2028)
- Commercial & Industrial
- Coal Power Generation Regional Outlook (Volume, GW, 2016 – 2028)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
Key Companies profiled:
Some prominent players in the global Coal Power Generation market include
- 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.
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