The global coal fired power generation market size is anticipated to reach up to 2,072.8 GW until 2020, according to a new report released by Million Insights. This growth can be associated with availability of the abundant quantity of coal across the globe coupled with its low-cost price. Moreover, increasing consumption of electricity owing to the rising power need is projected to positively impact market growth.
The pulverized coal segment dominated the global market due to its usage of generating thermal energy through boilers. The rest of the segments like fluidized bed combustion and coal gasification are anticipated to witness CAGR of 3.9% from 2014 to 2020. This growth can be associated to increasing demand from such eco-friendly power generation technologies.
The commercial segment of application held the largest share across the global market due to rapid industrialization. On the other hand, the residential segment is also expected to witness significant growth due to features like less operational cost coupled with streamline procedure of logistics.
Asia Pacific held the largest share of around 55% across the global market and is expected to witness a CAGR of 3.2% from 2014 to 2020 owing to increase in power consumption across developing countries like India and China. Europe and North America is also expected to witness significant growth in the upcoming years.
The coal-fired power generation market includes key players such as China Huaneng Group, Duke Energy, Korea Electric Corporation, E.ON SE, China Datang Corporation, and China Huaneng Group. They are continuously engaged in making continuous development and rapid advances across this industry.
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Further key findings from the report suggest:
• The commercial application segment is expected to register a CAGR of 3.0% during the forecasted years.
• Asia Pacific held the largest share of around 55% across the global market in 2013 and is expected to continue its dominance with a CAGR of 3.2% during the forecasted years.
• The key players in this market are China Datang Corporation, China Huaneng Group, Duke Energy Corporation, and E.ON SE.
Million Insights has segmented the global coal fired power generation market on the basis of application, technology and region:
Global Coal Fired Power Generation Technology Outlook (Volume, Giga Watts, 2012 - 2020)
• Pulverized Coal Systems
• Cyclone Furnace
Global Coal Fired Power Generation Application Outlook (Volume, Giga Watts, 2012 - 2020)
Coal Fired Power Generation Regional Outlook (Volume, Giga Watts, 2012 - 2020)
• North America
• Asia Pacific