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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.

Coal Power Generation Market

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 :

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

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

  • Pulverized
  • Cyclone Furnaces
  • Others

By Application

  • Residential
  • Commercial
  • Industrial

By Region

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • Growing Energy Demand from Different End-Use Industries

Key Market Restraints:

  • Stringent Regulations About Greenhouse Gas Emissions

Key Opportunities:

  • Growing in The Number of Coal Power Generation Units Over the World

Companies Covered in the report:

  • Jindal India Thermal Power ltd., Southern Company, Duke Energy Corporation, Uniper SE, CHINA SHENHUA, China Huadian Corporation LTD. (CHD), China Huaneng Group Co. Ltd., and Other major players.

Chapter 1: Introduction
ā€ƒ1.1 Research Objectives
ā€ƒ1.2 Research Methodology
ā€ƒ1.3 Research Process
ā€ƒ1.4 Scope and Coverage
ā€ƒā€ƒ1.4.1 Market Definition
ā€ƒā€ƒ1.4.2 Key Questions Answered
ā€ƒ1.5 Market Segmentation

Chapter 2:Executive Summary

Chapter 3:Growth Opportunities By Segment
ā€ƒ3.1 By Type
ā€ƒ3.2 By Application

Chapter 4: Market Landscape
ā€ƒ4.1 Porter's Five Forces Analysis
ā€ƒā€ƒ4.1.1 Bargaining Power of Supplier
ā€ƒā€ƒ4.1.2 Threat of New Entrants
ā€ƒā€ƒ4.1.3 Threat of Substitutes
ā€ƒā€ƒ4.1.4 Competitive Rivalry
ā€ƒā€ƒ4.1.5 Bargaining Power Among Buyers
ā€ƒ4.2 Industry Value Chain Analysis
ā€ƒ4.3 Market Dynamics
ā€ƒā€ƒ3.5.1 Drivers
ā€ƒā€ƒ3.5.2 Restraints
ā€ƒā€ƒ3.5.3 Opportunities
ā€ƒā€ƒ3.5.4 Challenges
ā€ƒ4.4 Pestle Analysis
ā€ƒ4.5 Technological Roadmap
ā€ƒ4.6 Regulatory Landscape
ā€ƒ4.7 SWOT Analysis
ā€ƒ4.8 Price Trend Analysis
ā€ƒ4.9 Patent Analysis
ā€ƒ4.10 Analysis of the Impact of Covid-19
ā€ƒā€ƒ4.10.1 Impact on the Overall Market
ā€ƒā€ƒ4.10.2 Impact on the Supply Chain
ā€ƒā€ƒ4.10.3 Impact on the Key Manufacturers
ā€ƒā€ƒ4.10.4 Impact on the Pricing

Chapter 4: Coal Power Generation Market by Type
ā€ƒ4.1 Coal Power Generation Market Overview Snapshot and Growth Engine
ā€ƒ4.2 Coal Power Generation Market Overview
ā€ƒ4.3 Pulverized
ā€ƒā€ƒ4.3.1 Introduction and Market Overview
ā€ƒā€ƒ4.3.2 Historic and Forecasted Market Size (2017-2032F)
ā€ƒā€ƒ4.3.3 Key Market Trends, Growth Factors and Opportunities
ā€ƒā€ƒ4.3.4 Pulverized: Grographic Segmentation
ā€ƒ4.4 Cyclone Furnaces
ā€ƒā€ƒ4.4.1 Introduction and Market Overview
ā€ƒā€ƒ4.4.2 Historic and Forecasted Market Size (2017-2032F)
ā€ƒā€ƒ4.4.3 Key Market Trends, Growth Factors and Opportunities
ā€ƒā€ƒ4.4.4 Cyclone Furnaces: Grographic Segmentation

Chapter 5: Coal Power Generation Market by Application
ā€ƒ5.1 Coal Power Generation Market Overview Snapshot and Growth Engine
ā€ƒ5.2 Coal Power Generation Market Overview
ā€ƒ5.3 Residential
ā€ƒā€ƒ5.3.1 Introduction and Market Overview
ā€ƒā€ƒ5.3.2 Historic and Forecasted Market Size (2017-2032F)
ā€ƒā€ƒ5.3.3 Key Market Trends, Growth Factors and Opportunities
ā€ƒā€ƒ5.3.4 Residential: Grographic Segmentation
ā€ƒ5.4 Commercial
ā€ƒā€ƒ5.4.1 Introduction and Market Overview
ā€ƒā€ƒ5.4.2 Historic and Forecasted Market Size (2017-2032F)
ā€ƒā€ƒ5.4.3 Key Market Trends, Growth Factors and Opportunities
ā€ƒā€ƒ5.4.4 Commercial: Grographic Segmentation
ā€ƒ5.5 Industrial
ā€ƒā€ƒ5.5.1 Introduction and Market Overview
ā€ƒā€ƒ5.5.2 Historic and Forecasted Market Size (2017-2032F)
ā€ƒā€ƒ5.5.3 Key Market Trends, Growth Factors and Opportunities
ā€ƒā€ƒ5.5.4 Industrial: Grographic Segmentation

Chapter 6: Company Profiles and Competitive Analysis
ā€ƒ6.1 Competitive Landscape
ā€ƒā€ƒ6.1.1 Competitive Positioning
ā€ƒā€ƒ6.1.2 Coal Power Generation Sales and Market Share By Players
ā€ƒā€ƒ6.1.3 Industry BCG Matrix
ā€ƒā€ƒ6.1.4 Ansoff Matrix
ā€ƒā€ƒ6.1.5 Coal Power Generation Industry Concentration Ratio (CR5 and HHI)
ā€ƒā€ƒ6.1.6 Top 5 Coal Power Generation Players Market Share
ā€ƒā€ƒ6.1.7 Mergers and Acquisitions
ā€ƒā€ƒ6.1.8 Business Strategies By Top Players
ā€ƒ6.2 JINDAL INDIA THERMAL POWER LTD.
ā€ƒā€ƒ6.2.1 Company Overview
ā€ƒā€ƒ6.2.2 Key Executives
ā€ƒā€ƒ6.2.3 Company Snapshot
ā€ƒā€ƒ6.2.4 Operating Business Segments
ā€ƒā€ƒ6.2.5 Product Portfolio
ā€ƒā€ƒ6.2.6 Business Performance
ā€ƒā€ƒ6.2.7 Key Strategic Moves and Recent Developments
ā€ƒā€ƒ6.2.8 SWOT Analysis
ā€ƒ6.3 SOUTHERN COMPANY
ā€ƒ6.4 DUKE ENERGY CORPORATION
ā€ƒ6.5 UNIPER SE
ā€ƒ6.6 CHINA SHENHUA
ā€ƒ6.7 CHINA HUADIAN CORPORATION LTD. (CHD)
ā€ƒ6.8 CHINA HUANENG GROUP CO. LTD.
ā€ƒ6.9 AMERICAN ELECTRIC POWER COMPANY INC.
ā€ƒ6.10 DOMINION ENERGY
ā€ƒ6.11 YONDEN SHIKOKU ELECTRIC POWER CO. INC.
ā€ƒ6.12 RWE
ā€ƒ6.13 NTPC LTD.
ā€ƒ6.14 TENAGA NASIONAL BERHAD
ā€ƒ6.15 STEAG GMBH
ā€ƒ6.16 KEPCO ENGINEERING & CONSTRUCTION COMPANY INC

Chapter 7: Global Coal Power Generation Market Analysis, Insights and Forecast, 2017-2032
ā€ƒ7.1 Market Overview
ā€ƒ7.2 Historic and Forecasted Market Size By Type
ā€ƒā€ƒ7.2.1 Pulverized
ā€ƒā€ƒ7.2.2 Cyclone Furnaces
ā€ƒ7.3 Historic and Forecasted Market Size By Application
ā€ƒā€ƒ7.3.1 Residential
ā€ƒā€ƒ7.3.2 Commercial
ā€ƒā€ƒ7.3.3 Industrial

Chapter 8: North America Coal Power Generation Market Analysis, Insights and Forecast, 2017-2032
ā€ƒ8.1 Key Market Trends, Growth Factors and Opportunities
ā€ƒ8.2 Impact of Covid-19
ā€ƒ8.3 Key Players
ā€ƒ8.4 Key Market Trends, Growth Factors and Opportunities
ā€ƒ8.4 Historic and Forecasted Market Size By Type
ā€ƒā€ƒ8.4.1 Pulverized
ā€ƒā€ƒ8.4.2 Cyclone Furnaces
ā€ƒ8.5 Historic and Forecasted Market Size By Application
ā€ƒā€ƒ8.5.1 Residential
ā€ƒā€ƒ8.5.2 Commercial
ā€ƒā€ƒ8.5.3 Industrial
ā€ƒ8.6 Historic and Forecast Market Size by Country
ā€ƒā€ƒ8.6.1 U.S.
ā€ƒā€ƒ8.6.2 Canada
ā€ƒā€ƒ8.6.3 Mexico

Chapter 9: Europe Coal Power Generation Market Analysis, Insights and Forecast, 2017-2032
ā€ƒ9.1 Key Market Trends, Growth Factors and Opportunities
ā€ƒ9.2 Impact of Covid-19
ā€ƒ9.3 Key Players
ā€ƒ9.4 Key Market Trends, Growth Factors and Opportunities
ā€ƒ9.4 Historic and Forecasted Market Size By Type
ā€ƒā€ƒ9.4.1 Pulverized
ā€ƒā€ƒ9.4.2 Cyclone Furnaces
ā€ƒ9.5 Historic and Forecasted Market Size By Application
ā€ƒā€ƒ9.5.1 Residential
ā€ƒā€ƒ9.5.2 Commercial
ā€ƒā€ƒ9.5.3 Industrial
ā€ƒ9.6 Historic and Forecast Market Size by Country
ā€ƒā€ƒ9.6.1 Germany
ā€ƒā€ƒ9.6.2 U.K.
ā€ƒā€ƒ9.6.3 France
ā€ƒā€ƒ9.6.4 Italy
ā€ƒā€ƒ9.6.5 Russia
ā€ƒā€ƒ9.6.6 Spain

Chapter 10: Asia-Pacific Coal Power Generation Market Analysis, Insights and Forecast, 2017-2032
ā€ƒ10.1 Key Market Trends, Growth Factors and Opportunities
ā€ƒ10.2 Impact of Covid-19
ā€ƒ10.3 Key Players
ā€ƒ10.4 Key Market Trends, Growth Factors and Opportunities
ā€ƒ10.4 Historic and Forecasted Market Size By Type
ā€ƒā€ƒ10.4.1 Pulverized
ā€ƒā€ƒ10.4.2 Cyclone Furnaces
ā€ƒ10.5 Historic and Forecasted Market Size By Application
ā€ƒā€ƒ10.5.1 Residential
ā€ƒā€ƒ10.5.2 Commercial
ā€ƒā€ƒ10.5.3 Industrial
ā€ƒ10.6 Historic and Forecast Market Size by Country
ā€ƒā€ƒ10.6.1 China
ā€ƒā€ƒ10.6.2 India
ā€ƒā€ƒ10.6.3 Japan
ā€ƒā€ƒ10.6.4 Southeast Asia

Chapter 11: South America Coal Power Generation Market Analysis, Insights and Forecast, 2017-2032
ā€ƒ11.1 Key Market Trends, Growth Factors and Opportunities
ā€ƒ11.2 Impact of Covid-19
ā€ƒ11.3 Key Players
ā€ƒ11.4 Key Market Trends, Growth Factors and Opportunities
ā€ƒ11.4 Historic and Forecasted Market Size By Type
ā€ƒā€ƒ11.4.1 Pulverized
ā€ƒā€ƒ11.4.2 Cyclone Furnaces
ā€ƒ11.5 Historic and Forecasted Market Size By Application
ā€ƒā€ƒ11.5.1 Residential
ā€ƒā€ƒ11.5.2 Commercial
ā€ƒā€ƒ11.5.3 Industrial
ā€ƒ11.6 Historic and Forecast Market Size by Country
ā€ƒā€ƒ11.6.1 Brazil
ā€ƒā€ƒ11.6.2 Argentina

Chapter 12: Middle East & Africa Coal Power Generation Market Analysis, Insights and Forecast, 2017-2032
ā€ƒ12.1 Key Market Trends, Growth Factors and Opportunities
ā€ƒ12.2 Impact of Covid-19
ā€ƒ12.3 Key Players
ā€ƒ12.4 Key Market Trends, Growth Factors and Opportunities
ā€ƒ12.4 Historic and Forecasted Market Size By Type
ā€ƒā€ƒ12.4.1 Pulverized
ā€ƒā€ƒ12.4.2 Cyclone Furnaces
ā€ƒ12.5 Historic and Forecasted Market Size By Application
ā€ƒā€ƒ12.5.1 Residential
ā€ƒā€ƒ12.5.2 Commercial
ā€ƒā€ƒ12.5.3 Industrial
ā€ƒ12.6 Historic and Forecast Market Size by Country
ā€ƒā€ƒ12.6.1 Saudi Arabia
ā€ƒā€ƒ12.6.2 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

  • Pulverized
  • Cyclone Furnaces
  • Others

By Application

  • Residential
  • Commercial
  • Industrial

By Region

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • Growing Energy Demand from Different End-Use Industries

Key Market Restraints:

  • Stringent Regulations About Greenhouse Gas Emissions

Key Opportunities:

  • Growing in The Number of Coal Power Generation Units Over the World

Companies Covered in the report:

  • Jindal India Thermal Power ltd., Southern Company, Duke Energy Corporation, Uniper SE, CHINA SHENHUA, China Huadian Corporation LTD. (CHD), China Huaneng Group Co. Ltd., and Other major players.
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Frequently Asked Questions :

What would be the forecast period in the Coal Power Generation Market research report?

The forecast period in the Coal Power Generation Market research report is 2024-2032.

Who are the key players in Coal Power Generation Market?

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.

What are the segments of the Coal Power Generation Market?

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.).

What is the Coal Power Generation Market?

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.

How big is the Coal Power Generation Market?

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.