This research report consists of easy-to-understand graphics that ensure better understanding of the market. In addition, the threats and opportunities prevailing in the coal fired power generation market can be comprehended clearly with the help of the value chain study, and the Porter’s five forces model analysis provided in the report.
Albany, NY -- (SBWIRE) -- 02/12/2016 -- Coal fired power generation is one of the oldest techniques of producing energy that can be subsequently converted into electricity. This technology has been supplemented with a readily available and steady raw material source, coal. The extensive production and distribution of coal has been one of the most important factors boosting the market for coal fired power generation in the past few decades. The ever-increasing demand for electricity from various industries such as steel, refining, chemicals and also residential applications have been pushing the demand for coal of different grades and varieties. With an unsteady and an insufficient supply of power sourced from renewable sources such as solar, wind, hydro and nuclear energy and the advancement I coal combustion technologies, the demand for coal fired power generation has seen an unprecedented rise in demand and is expected to expand further over the next few years.
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Pulverized coal systems were the oldest and most commonly used combustion technology for burning coal for the past few decades. Combined with cyclone furnaces, these plants accounted for a majority of the market in the last few years. Due to concerns over the release of large quantities of greenhouse gases from combustion of coal in these systems, the market shifted slowly towards cleaner forms of coal-energy generation such as fluidized bed boilers and coal gasification technologies. In 2012, pulverized bed techniques accounted for the largest share of the market while cyclone furnaces accounted for about 30% of the market. Fluidized beds and coal gasification, the cleaner technologies, are expected to show the highest growth numbers and are anticipated to grow at a CAGR of about 4.1% between 2013 and 2019.
Coal fired power has been the most steady source of electricity for various industries such as refineries, textiles, steel, chemicals and others. These industries along with the IT sector and other commercial ventures have shown the greatest demand for power and are hence the largest market for coal fired power generation. At the same time, huge advances in urbanization and greater demand for power in day-to-day life have been driving the market for residential applications of coal fired power. Many residential areas have also turned towards solar power and hydro power for their energy needs and this has reduced their share in the coal fired power generation market over the past decade. As a result, commercial applications were the larger market and accounted for over 55% of the market in 2012.
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Ready availability of raw material in Asia Pacific has enabled the region to become the foremost coal producer in the world. Countries such as China, Australia, India, Indonesia and others have become the largest producers of coal in the past few decades with large quantities of resources available in the vicinity. As a result, countries in Asia Pacific have come to depend on coal fired power for their energy needs. China leads the world in terms of installed capacities of coal fired power generation. Owing to these factors, Asia Pacific accounted for over 50% of the total installed capacities of coal fired power in the world. It is anticipated that Asia Pacific would also show the highest growth rate with large number of power stations under development and relatively higher dependence on coal for energy needs. North America was the other major market in terms of installed capacities followed by Europe while RoW has exhibited more dependence on renewable energy rather than on coal.
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China Huaneng Group, China Datang Corporation, Korea Electric Power Corporation (KEPCO) and Shenhua Group Corporation Limited are expected to dominate the market for coal fired power and these companies accounted for over 22% of the global share by installed capacities in the coal fired power generation market in 2012.
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