Coal Fired Power Generation Market: By Technology Type (Pulverized Coal Systems, Cyclone Furnaces, and Others), Application (Residential and Commercial & Industrial) and Geography  

Coal Fired Power Generation Market size is held a significant market share in 2022.  Coal-fired power generation is a thermal power plant that uses the burning of lower volatile coal and sub-bituminous to produce electricity. It functions by the combustion of coal to create electrical energy, mechanical, and thermal using numerous types of machinery. As coal is easily accessible and highly inexpensive, it signifies the most extensively used electricity production source around the world. Coal-fired power plants are also more dependable and harmless than their nuclear complements. The rising demand for energy because of fast industrialization can lead to the coal-fired power generation market growth. Moreover, the growing requirement of electrification around the world is the primary factor that can boost the global coal fired power generation market. Apart from these, these power stations produce a large number of polluting gases such as sulfur dioxide, carbon dioxide, and nitrogen dioxide. Due to the increasing environmental alarms, governing interventions of numerous counties, along with various energy corporations, are investing deeply in research and development projects to present clean coal technologies that can further drive market growth. However, some factors such as strict protocols concerning smart greenhouse gas releases are inspiring manufacturers to introduce green technologies that can restrain the growth of the market. The health problems related to coal-fired power generation as they produce harmful gases which lead to numerous respiratory difficulties such as asthma can hinder the market growth. Progression in combustion techniques can create an opportunity for the global Coal Fired Power Generation market growth. This is attributed to rising consciousness about greenhouse emissions. Moreover, the development in the residential sector along with the increasing research and development to improve the efficacy and lower costs of operation is expected to provide lucrative opportunities for market growth.

Key Developments:

In February 2020, Japan announced that they are willing to construct 22 new coal power plants at 17 different sites in the next five years to increase the number of coal-fired power generation. In march 2022, Reliance Industries acquired bankrupt Lanco’s Amarkantak unit to enter coal-fired generation market.