Coal Fired Power Generation Market Size, Share, Growth, Trends, and Global Industry Analysis: By Technology Type (Pulverized Coal Systems, Cyclone Furnaces, and Others), By Application (Residential and Commercial & Industrial) and Region Forecast 2020-2031

Coal Fired Power Generation Market size was valued at US$ 2,269.4 million in 2024 and is expected to reach US$ 2,679.2 million by 2031, growing at a significant CAGR of 2.4% from 2025-2031. 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 is 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 for 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 that lead to numerous respiratory difficulties such as asthma can hinder the market growth. Progression in combustion techniques can create an opportunity for the global market growth. This is attributed to rising consciousness about greenhouse emissions. 

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 Lancos Amarkantak unit to enter coal-fired generation market.