GVR Report cover Coal Power Generation Market Size, Share & Trends Report

Coal Power Generation Market Size, Share & Trends Analysis Report By Technology (Pulverized, Cyclone Furnaces), By Application (Residential, Commercial & Industrial), By Region, And Segment Forecasts, 2020 - 2028

  • Published Date: Oct, 2021
  • Base Year for Estimate: 2020
  • Report ID: GVR-4-68038-863-3
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2019
  • Number of Pages: 78

Report 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.

China coal power generation market size, by technology, 2018 - 2028 (GW)

China is home to around half the globe’s current coal capacity and coal power projects are under construction. Provincial authorities are encouraging to build of new coal power plants to stimulate economic activity, despite of 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 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 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-third 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.

Technology Insights

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 over 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.

Application Insights

On the basis of application, the market is bifurcated 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.

Global coal power generation market share, by application, 2020 (%)

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.

Regional Insights

Asia Pacific was the dominant regional market in 2020. It accounted for the highest volume share of more than 74% in the same year. China led the Asia Pacific regional market with a volume share of 71% in 2020. The market in APAC is primarily driven by the upcoming power generation projects and growing industrialization in the region. Moreover, the availability of cheap labor, as well as proximity to raw material suppliers, is further attracting investors to the region.

In addition, the growing consumption of electricity on account of increasing energy needs in day-to-day life, especially from developing markets, is expected to positively impact market growth. However, Middle East & Africa is estimated to be the fastest-growing regional market from 2021 to 2028.

Key Companies & 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 it's 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.

Coal Power Generation Market Report Scope

Report Attribute

Details

Market size volume in 2021

1,989.25 GW

Volume forecast in 2028

2,228.32 GW

Growth rate

CAGR of 1.6% from 2020 to 2028

Base year for estimation

2020

Historical data

2016 - 2019

Forecast period

2020 - 2028

Quantitative units

Volume in GW and CAGR from 2020 to 2028

Report coverage

Volume forecast, company profile, growth factors, and trends

Segments covered

Technology, application, and region

Region scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Canada; Mexico; Russia; Germany; U.K.; Spain; France; Italy; China; India; Japan; South Korea; Australia; Brazil; Paraguay; Colombia; Saudi Arabia; UAE; South Africa; Egypt

Key companies profiled

Uniper SE; China Shenhua; China Huadian Corporation Ltd. (CHD); Dominion Energy; NTPC Ltd.; KEPCO Engineering & Construction Company, Inc.; STEAG GmbH; Duke Energy Corp.; American Electric Power Company, Inc.; Jindal India Thermal Power Ltd.; RWE; Southern Company; Tenaga Nasional Berhad; Yonden Shikoku Electric Power Co., Inc.

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Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional, and segment scope.

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Segments Covered in the Report

This report forecasts volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research has segmented the global coal power generation market report based on technology, application, and region:

  • Technology Outlook (Volume, GW, 2016 - 2028)

    • Pulverized Coal Systems

    • Cyclone Furnaces

    • Others

  • Application Outlook (Volume, GW, 2016 - 2028)

    • Residential

    • Commercial & Industrial

  • Regional Outlook (Volume, GW, 2016 - 2028)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Russia

      • Germany

      • U.K.

      • Spain

      • France

      • Italy

    • Asia Pacific

      • China

      • India

      • Japan

      • South Korea

      • Australia

    • Central & South America

      • Brazil

      • Paraguay

      • Colombia

    • Middle East & Africa

      • Saudi Arabia

      • UAE

      • South Africa

      • Egypt

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