Global Coal Power Generation Market Overview
Coal Power Generation Market Size Was Valued at USD 368.80 Billion in 2023 and is Projected to Reach USD 468.73 Billion by 2032, Growing at a CAGR of 2.7% From 2024-2032.
Coal is an important source of energy for the world, particularly for power generation. Demand for coal has grown rapidly over the last decade, outstripping that for gas, oil, nuclear, and renewable energy sources. This comes at a cost. Coal contributes to over 40% of global anthropomorphic CO2 emissions and more than 70% of CO2 emissions that arise from power generation are attributed to coal. To play its role in a sustainable energy future, its environmental footprint needs to be reduced; using coal more efficiently is an important first step. Beyond efficiency improvement, carbon capture and storage (CCS) must be deployed to make deep cuts in CO2 emissions. Coal-fired power generation is a thermal power station plant that burns coal to generate electricity. Gasification, pulverized coal firing, coal cyclone furnace, and fluidized bed combustion are some of the technologies used in the generation of power. Coal is a major source of power generation plants. The global coal power generation market was estimated to account for 2,057.6 Giga Watts in terms of volume by the end of 2019. The escalating demand for energy on account of rapid industrialization and the increasing dependence on electrification across the globe represents one of the key factors bolstering market growth.
COVID-19 Impact on the Coal Power Generation Market
The COVID-19 pandemic has become a major threat across the globe. The hospitality aviation industry is some of the worst-hit industries, the power generation is also critically influenced owing to the pandemic situation. Travel restrictions have meant that there has been a significant depletion in the application of public and private transport. Consequently, fuel demand for transport has declined significantly. These major factors are key reasons anticipated to hinder the growth of the coal power generation market during the forecast period. The EU imports of coal for thermal power plants thrust by almost two-thirds in recent months to reach lows not seen in 30 years. Furthermore, in April 2020 coal exports from Indonesia impact their lowest level since October 2010 amid the COVID-19 crisis. Comparing exports levels from 2015 to 2020, exports already declined below average in February and March 2020, to reduce further in April 2020.
Market Dynamics And Factors For Coal Power Generation Market
Drivers:
Coal power is still the major source of energy generation on a global level. In the US coal records about 19% of the energy generation in 2020. Growing energy demand from different end-use industries is increasing the global market growth. Furthermore, the easy availability of raw materials over the Asia Pacific region is primarily accelerating the market growth of coal power generation. Indonesia, China, India, and Australia are the major manufacturers of coal. Therefore, the ready availability of the coal in Asia Pacific region is stimulating the market growth of coal power generation. Growing demand for electricity is anticipated to increase the market growth of coal power generation. This is attributed to the rising population which is generating demand for the residential sector. Significant industrialization and urbanization along with the requirements for energy in heavy industries are again anticipated to hasten the market growth of coal power generation. Hence, the augmenting demand for electricity is estimated to drive market growth.
Restraints:
Stringent regulations about greenhouse gas emissions are motivating manufacturers to introduce green technologies. This is anticipated to hamper the market growth of coal power generation. Moreover, the availability of natural gas in large quantities, coupled with its relatively cheap prices, primarily in regions, such as North America, China, and Thailand, has led to a rise in power generation using natural gas. Growing focus on creating electricity through cleaner technologies and the degradation of coal reserves are the factors expected to raise the share of gas turbines in the global energy mix, thereby offering a positive environment for the growth of the gas turbine service sector. Therefore, these factors are anticipated to have a poor impact on the growth of the coal power generation market over the forecast period. In addition, the health problems related with the coal-fired power generation as they release harmful gases which lead to different respiratory problems such as asthma. This is anticipated to hinder the market growth of coal power generation.
Opportunities:
Pulverized coal technology is gaining propulsion in the market as they use powdered coal to produce thermal energy. Furthermore, in pulverized coal, the rate of combustion can be managed easily. In addition, it provides faster results to load changes. The trend of using pulverized coal systems over both residential as well as commercial applications wing to rising consciousness about the environmental benefits is further anticipated to increase the market growth of the coal power generation.
Growing in the number of coal power generation units over the world is anticipated to provide lucrative market opportunities in the upcoming years. For instance, in February 2020, Japan declared that it is planning to build up to 22 new coal power plants at 17 different sites in the upcoming five years. Therefore, a growing number of coal power generation plants is anticipated to trigger the market growth of coal power generation.
According to Statista, global installed coal power capacity has increased to over 2.1 terawatts and is estimated to peak by 2030. Many governments have launched phase-out dates to be reached before mid-century to overcome their carbon footprint and diminish climate change. However, as of 2020, there was around 500 gigawatts worth of coal power plants in the pipeline. Russia, Malaysia, and India have recorded the greatest share of public support for coal expansion. More than half of the respective economies' residents were in favor of furthering coal application, despite concerns over its environmental impact. Furthermore, Chinese banks such as ICBC are the highest investment banks for coal organizations. Of the five banks having funded the largest amount in the past years, four were China-based companies.
Market Segmentation
Segmentation Analysis of Coal Power Generation Market:
Based on the technology, the pulverized segment is expected to hold the maximum market share during the forecast period. The pulverized coal system is extensively accepted in energy production owing to its huge efficiency and fewer pollution benefits as compared to other segments. By pulverizing the coal, the surface area for combustion rises much hence thermal efficiency increases. It results in a faster combustion rate and however declines the requirement of secondary air to complete combustion. The burden of the air intake fans also decreases. Moreover, another essential feature of the pulverized firing system is that it does not have any moving parts inside the combustion chamber which gives it a long trouble-free life. In addition, ash handling is simpler in this technology.
Based on the application, the commercial and industrial segment is expected to hold the maximum market share during the forecast period. Rapid industrialization over the emerging regions will help turn the application of coal power generation into commercial applications. An increase in the manufacturing industries, along with upcoming power plant projects over the developing areas, is anticipated to trigger the segment growth.
Regional Analysis of Coal Power Generation Market:
Asia Pacific region is expected to dominate the coal power generation market over the projected period. The power utilization has been augmenting at a significant rate in the region turn by industrialization, population growth, and rising urbanization, particularly in developing economies, such as India and China. China led the Asia Pacific regional market with a volume share of 71% in 2020. The market in the region is primarily driven by the upcoming power generation projects and rising industrialization in the region. Furthermore, the accessibility of low cost of the labor, as well as proximity to raw material suppliers, is further attracting investors to the region. Hence, rising power needs in the region are anticipated to grow the demand for the coal power generation market during the forecast period in the region.
North America region is expected to hold the significant market growth for the coal power generation during the forecast period. The market is majorly driven by the US country owing to for over a century coal has been among the major sources of electricity generation in the United States. Even though it lost its position as the highest contributor to the power mix to natural gas in 2016, coal energy is still extensively utilized over the nation. There is a large number of U.S. utilities utilizing coal not committed to retiring by 2030 despite greater efforts and incentives by the government to overcome reliance on this heavily polluting fossil fuel.
In Europe, the steady growth rate for the coal power generation market over the forecast period. The demand for electricity from coal during the COVID-19 pandemic lockdown has declined in the majority of countries in Europe. Between March 28 and April 30, the demand for coal in Germany's energy mix fell from 30 percent in this period in 2019 to 16 percent in 2020. In comparison, Portugal went completely coal-free for more than a month during this period.
Players Covered in Coal Power Generation Market are :
- Jindal India Thermal Power ltd.
- Southern Company
- Duke Energy Corporation
- Uniper SE
- CHINA SHENHUA
- China Huadian Corporation LTD. (CHD)
- China Huaneng Group Co. Ltd.
- American Electric Power Company Inc.
- Dominion Energy
- YONDEN Shikoku Electric Power CO. Inc.
- RWE
- NTPC Ltd.
- TENAGA NASIONAL BERHAD
- STEAG GMBH
- KEPCO Engineering & Construction Company Inc
- and others major Players.
Key Industry Developments In Coal Power Generation Market
- In December 2024, Eskom outlined plans to retire several coal-fired plants by 2025. However, the company aims to ensure electricity reliability during this transition by continuing to use cost-effective coal as part of its $10 billion decarbonization strategy.
- In October 2024, Origin Energy issued a bond confirming the closure of its Eraring coal plant by 2025, as the company focuses on expanding its renewable energy portfolio, finding coal less competitive.
- In August 2024, China approved the addition of 6.66 GW of new coal capacity, down from an earlier target of 40 GW in March. This reduction aligns with China's renewable energy goals. However, construction of 41 GW of coal capacity continued in 2024, suggesting a complex situation as both new coal projects and environmental concerns persist.
Coal Power Generation Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
Historical Data: |
2017 to 2023 |
Market Size in 2021: |
368.80 Bn |
Forecast Period 2024-32 CAGR: |
2.7% |
Market Size in 2028: |
468.73 Bn |
Segments Covered: |
By Technology |
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By Application |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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Chapter 1: Introduction
ā1.1 Research Objectives
ā1.2 Research Methodology
ā1.3 Research Process
ā1.4 Scope and Coverage
āā1.4.1 Market Definition
āā1.4.2 Key Questions Answered
ā1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
ā3.1 By Type
ā3.2 By Application
Chapter 4: Market Landscape
ā4.1 Porter's Five Forces Analysis
āā4.1.1 Bargaining Power of Supplier
āā4.1.2 Threat of New Entrants
āā4.1.3 Threat of Substitutes
āā4.1.4 Competitive Rivalry
āā4.1.5 Bargaining Power Among Buyers
ā4.2 Industry Value Chain Analysis
ā4.3 Market Dynamics
āā3.5.1 Drivers
āā3.5.2 Restraints
āā3.5.3 Opportunities
āā3.5.4 Challenges
ā4.4 Pestle Analysis
ā4.5 Technological Roadmap
ā4.6 Regulatory Landscape
ā4.7 SWOT Analysis
ā4.8 Price Trend Analysis
ā4.9 Patent Analysis
ā4.10 Analysis of the Impact of Covid-19
āā4.10.1 Impact on the Overall Market
āā4.10.2 Impact on the Supply Chain
āā4.10.3 Impact on the Key Manufacturers
āā4.10.4 Impact on the Pricing
Chapter 4: Coal Power Generation Market by Type
ā4.1 Coal Power Generation Market Overview Snapshot and Growth Engine
ā4.2 Coal Power Generation Market Overview
ā4.3 Pulverized
āā4.3.1 Introduction and Market Overview
āā4.3.2 Historic and Forecasted Market Size (2017-2032F)
āā4.3.3 Key Market Trends, Growth Factors and Opportunities
āā4.3.4 Pulverized: Grographic Segmentation
ā4.4 Cyclone Furnaces
āā4.4.1 Introduction and Market Overview
āā4.4.2 Historic and Forecasted Market Size (2017-2032F)
āā4.4.3 Key Market Trends, Growth Factors and Opportunities
āā4.4.4 Cyclone Furnaces: Grographic Segmentation
Chapter 5: Coal Power Generation Market by Application
ā5.1 Coal Power Generation Market Overview Snapshot and Growth Engine
ā5.2 Coal Power Generation Market Overview
ā5.3 Residential
āā5.3.1 Introduction and Market Overview
āā5.3.2 Historic and Forecasted Market Size (2017-2032F)
āā5.3.3 Key Market Trends, Growth Factors and Opportunities
āā5.3.4 Residential: Grographic Segmentation
ā5.4 Commercial
āā5.4.1 Introduction and Market Overview
āā5.4.2 Historic and Forecasted Market Size (2017-2032F)
āā5.4.3 Key Market Trends, Growth Factors and Opportunities
āā5.4.4 Commercial: Grographic Segmentation
ā5.5 Industrial
āā5.5.1 Introduction and Market Overview
āā5.5.2 Historic and Forecasted Market Size (2017-2032F)
āā5.5.3 Key Market Trends, Growth Factors and Opportunities
āā5.5.4 Industrial: Grographic Segmentation
Chapter 6: Company Profiles and Competitive Analysis
ā6.1 Competitive Landscape
āā6.1.1 Competitive Positioning
āā6.1.2 Coal Power Generation Sales and Market Share By Players
āā6.1.3 Industry BCG Matrix
āā6.1.4 Ansoff Matrix
āā6.1.5 Coal Power Generation Industry Concentration Ratio (CR5 and HHI)
āā6.1.6 Top 5 Coal Power Generation Players Market Share
āā6.1.7 Mergers and Acquisitions
āā6.1.8 Business Strategies By Top Players
ā6.2 JINDAL INDIA THERMAL POWER LTD.
āā6.2.1 Company Overview
āā6.2.2 Key Executives
āā6.2.3 Company Snapshot
āā6.2.4 Operating Business Segments
āā6.2.5 Product Portfolio
āā6.2.6 Business Performance
āā6.2.7 Key Strategic Moves and Recent Developments
āā6.2.8 SWOT Analysis
ā6.3 SOUTHERN COMPANY
ā6.4 DUKE ENERGY CORPORATION
ā6.5 UNIPER SE
ā6.6 CHINA SHENHUA
ā6.7 CHINA HUADIAN CORPORATION LTD. (CHD)
ā6.8 CHINA HUANENG GROUP CO. LTD.
ā6.9 AMERICAN ELECTRIC POWER COMPANY INC.
ā6.10 DOMINION ENERGY
ā6.11 YONDEN SHIKOKU ELECTRIC POWER CO. INC.
ā6.12 RWE
ā6.13 NTPC LTD.
ā6.14 TENAGA NASIONAL BERHAD
ā6.15 STEAG GMBH
ā6.16 KEPCO ENGINEERING & CONSTRUCTION COMPANY INC
Chapter 7: Global Coal Power Generation Market Analysis, Insights and Forecast, 2017-2032
ā7.1 Market Overview
ā7.2 Historic and Forecasted Market Size By Type
āā7.2.1 Pulverized
āā7.2.2 Cyclone Furnaces
ā7.3 Historic and Forecasted Market Size By Application
āā7.3.1 Residential
āā7.3.2 Commercial
āā7.3.3 Industrial
Chapter 8: North America Coal Power Generation Market Analysis, Insights and Forecast, 2017-2032
ā8.1 Key Market Trends, Growth Factors and Opportunities
ā8.2 Impact of Covid-19
ā8.3 Key Players
ā8.4 Key Market Trends, Growth Factors and Opportunities
ā8.4 Historic and Forecasted Market Size By Type
āā8.4.1 Pulverized
āā8.4.2 Cyclone Furnaces
ā8.5 Historic and Forecasted Market Size By Application
āā8.5.1 Residential
āā8.5.2 Commercial
āā8.5.3 Industrial
ā8.6 Historic and Forecast Market Size by Country
āā8.6.1 U.S.
āā8.6.2 Canada
āā8.6.3 Mexico
Chapter 9: Europe Coal Power Generation Market Analysis, Insights and Forecast, 2017-2032
ā9.1 Key Market Trends, Growth Factors and Opportunities
ā9.2 Impact of Covid-19
ā9.3 Key Players
ā9.4 Key Market Trends, Growth Factors and Opportunities
ā9.4 Historic and Forecasted Market Size By Type
āā9.4.1 Pulverized
āā9.4.2 Cyclone Furnaces
ā9.5 Historic and Forecasted Market Size By Application
āā9.5.1 Residential
āā9.5.2 Commercial
āā9.5.3 Industrial
ā9.6 Historic and Forecast Market Size by Country
āā9.6.1 Germany
āā9.6.2 U.K.
āā9.6.3 France
āā9.6.4 Italy
āā9.6.5 Russia
āā9.6.6 Spain
Chapter 10: Asia-Pacific Coal Power Generation Market Analysis, Insights and Forecast, 2017-2032
ā10.1 Key Market Trends, Growth Factors and Opportunities
ā10.2 Impact of Covid-19
ā10.3 Key Players
ā10.4 Key Market Trends, Growth Factors and Opportunities
ā10.4 Historic and Forecasted Market Size By Type
āā10.4.1 Pulverized
āā10.4.2 Cyclone Furnaces
ā10.5 Historic and Forecasted Market Size By Application
āā10.5.1 Residential
āā10.5.2 Commercial
āā10.5.3 Industrial
ā10.6 Historic and Forecast Market Size by Country
āā10.6.1 China
āā10.6.2 India
āā10.6.3 Japan
āā10.6.4 Southeast Asia
Chapter 11: South America Coal Power Generation Market Analysis, Insights and Forecast, 2017-2032
ā11.1 Key Market Trends, Growth Factors and Opportunities
ā11.2 Impact of Covid-19
ā11.3 Key Players
ā11.4 Key Market Trends, Growth Factors and Opportunities
ā11.4 Historic and Forecasted Market Size By Type
āā11.4.1 Pulverized
āā11.4.2 Cyclone Furnaces
ā11.5 Historic and Forecasted Market Size By Application
āā11.5.1 Residential
āā11.5.2 Commercial
āā11.5.3 Industrial
ā11.6 Historic and Forecast Market Size by Country
āā11.6.1 Brazil
āā11.6.2 Argentina
Chapter 12: Middle East & Africa Coal Power Generation Market Analysis, Insights and Forecast, 2017-2032
ā12.1 Key Market Trends, Growth Factors and Opportunities
ā12.2 Impact of Covid-19
ā12.3 Key Players
ā12.4 Key Market Trends, Growth Factors and Opportunities
ā12.4 Historic and Forecasted Market Size By Type
āā12.4.1 Pulverized
āā12.4.2 Cyclone Furnaces
ā12.5 Historic and Forecasted Market Size By Application
āā12.5.1 Residential
āā12.5.2 Commercial
āā12.5.3 Industrial
ā12.6 Historic and Forecast Market Size by Country
āā12.6.1 Saudi Arabia
āā12.6.2 South Africa
Chapter 13 Investment Analysis
Chapter 14 Analyst Viewpoint and Conclusion
Coal Power Generation Market |
|||
Base Year: |
2023 |
Forecast Period: |
2024-2032 |
Historical Data: |
2017 to 2023 |
Market Size in 2021: |
368.80 Bn |
Forecast Period 2024-32 CAGR: |
2.7% |
Market Size in 2028: |
468.73 Bn |
Segments Covered: |
By Technology |
|
|
By Application |
|
||
By Region |
|
||
Key Market Drivers: |
|
||
Key Market Restraints: |
|
||
Key Opportunities: |
|
||
Companies Covered in the report: |
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Frequently Asked Questions :
The forecast period in the Coal Power Generation Market research report is 2024-2032.
Jindal India Thermal Power ltd., Southern Company, Duke Energy Corporation, Uniper SE, CHINA SHENHUA, China Huadian Corporation LTD. (CHD), China Huaneng Group Co. Ltd., American Electric Power Company Inc., Dominion Energy, YONDEN Shikoku Electric Power CO. Inc., RWE, NTPC Ltd., TENAGA NASIONAL BERHAD, STEAG GMBH, KEPCO Engineering & Construction Company Inc and other major players.
The Coal Power Generation Market is segmented into Technology, Application, and region. By Technology, the market is categorized into Pulverized, Cyclone Furnaces, Others. By Application, the market is categorized into Residential, Commercial, Industrial. By region, it is analyzed across North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain, etc.), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).
Coal is an important source of energy for the world, particularly for power generation. Demand for coal has grown rapidly over the last decade, outstripping that for gas, oil, nuclear, and renewable energy sources.
Coal Power Generation Market Size Was Valued at USD 368.80 Billion in 2023 and is Projected to Reach USD 468.73 Billion by 2032, Growing at a CAGR of 2.7% From 2024-2032.