Market Overview
Global Clean Coal Technology Market has
valued at USD 4.66 billion in 2023 and is anticipated to project robust growth
in the forecast period with a CAGR of 5.05 % through 2029. The rapid increase in global demand for electricity
and its consumption is likely to drive market growth.
Key Market Drivers
Coal is a
major source of energy around the world, and demand is rising in many nations
as they experience long-awaited economic progress. The factors attributing to
the clean technology market are the rising demand for compatible and
environmentally friendly power technologies and the growing urbanization in
developing nations.
Rapid Increase in
Global Demand For Electricity
The rapid
increase in global demand for electricity and its consumption is likely to
drive market growth. India and China are anticipated to dominate the market due
to the presence of a large population and the Asia Pacific region to emerge as
the major player in the global market functioning over the forecast period. The
factors expected to drive the market in this region is the increasing energy
demand from end-use industries, owing to the rising factors like
industrialization. The major factor boosting the growth of the market is the
efforts that the most emerging and developing countries are focusing on
developing advanced market-relevant technology which is an unexpected but
extremely encouraging fact.
Additionally,
the market participants are expecting a large-scale infrastructure development
related to luxury car manufacturers in their region. So, the rising complexity
of onboard electronics is fueling the global demand of the industry. The
advancements of clean coal technology are anticipated to result in lower
emissions from coal-fired thermal facilities.
Coal-fired power
plants held the majority share of worldwide power generation and are expected
to boost the market growth. Due to the fuel cost reductions and capital
investments & technology in current and new plants, clean coal technology
is expected to rise over the forecast period. Several government initiatives
and environmental agencies in North America & Europe such as EPA and EIA
have positively impacted the industry. The increased Technology of chemicals
used to extract gold and other precious metals is expected to drive the growth
of the market.
Many
government policies and regulations and the recommendations from the global
environmental agencies encourage clean coal technologies to invest in research
and development. Clean technology market consumption rates, advanced
technology, and low-cost fuels provide a new potential for the clean coal
industry. It can replace a wide range of petroleum-based compounds and reduce
dependence on petroleum.
During the
forecast period, many countries are expected to adopt renewable sources of
energy which act as a constraint to the market’s growth. The high cost involved
with the worldwide use and extraction of market constituents is limiting the
potential of the market. Coal-fired power facilities release carbon dioxide
into the atmosphere causing harm to the environment. The changing prices in the
raw materials and high Technology costs are restraining factors for the market.
Market Overview
Global Clean Coal Technology Market has
valued at USD 4.66 billion in 2023 and is anticipated to project robust growth
in the forecast period with a CAGR of 5.05 % through 2029. The rapid increase in global demand for electricity
and its consumption is likely to drive market growth.
Key Market Drivers
Coal is a
major source of energy around the world, and demand is rising in many nations
as they experience long-awaited economic progress. The factors attributing to
the clean technology market are the rising demand for compatible and
environmentally friendly power technologies and the growing urbanization in
developing nations.
Rapid Increase in
Global Demand For Electricity
The rapid
increase in global demand for electricity and its consumption is likely to
drive market growth. India and China are anticipated to dominate the market due
to the presence of a large population and the Asia Pacific region to emerge as
the major player in the global market functioning over the forecast period. The
factors expected to drive the market in this region is the increasing energy
demand from end-use industries, owing to the rising factors like
industrialization. The major factor boosting the growth of the market is the
efforts that the most emerging and developing countries are focusing on
developing advanced market-relevant technology which is an unexpected but
extremely encouraging fact.
Additionally,
the market participants are expecting a large-scale infrastructure development
related to luxury car manufacturers in their region. So, the rising complexity
of onboard electronics is fueling the global demand of the industry. The
advancements of clean coal technology are anticipated to result in lower
emissions from coal-fired thermal facilities.
Coal-fired power
plants held the majority share of worldwide power generation and are expected
to boost the market growth. Due to the fuel cost reductions and capital
investments & technology in current and new plants, clean coal technology
is expected to rise over the forecast period. Several government initiatives
and environmental agencies in North America & Europe such as EPA and EIA
have positively impacted the industry. The increased Technology of chemicals
used to extract gold and other precious metals is expected to drive the growth
of the market.
Many
government policies and regulations and the recommendations from the global
environmental agencies encourage clean coal technologies to invest in research
and development. Clean technology market consumption rates, advanced
technology, and low-cost fuels provide a new potential for the clean coal
industry. It can replace a wide range of petroleum-based compounds and reduce
dependence on petroleum.
During the
forecast period, many countries are expected to adopt renewable sources of
energy which act as a constraint to the market’s growth. The high cost involved
with the worldwide use and extraction of market constituents is limiting the
potential of the market. Coal-fired power facilities release carbon dioxide
into the atmosphere causing harm to the environment. The changing prices in the
raw materials and high Technology costs are restraining factors for the market.
Download Free Sample Report
Key Market Challenges
High Initial
Costs:
Implementing
clean coal technologies involves substantial upfront capital investments. The
development and deployment of advanced technologies, such as carbon capture and
storage, can be cost-prohibitive for many developing economies. Governments and
industry players need to collaborate to find financial mechanisms that make
these technologies economically viable.
Operational
Challenges:
The
integration of new technologies into existing coal-fired power plants can pose
operational challenges. Adapting infrastructure and ensuring smooth operation
can be complex, requiring skilled engineering and technical expertise. Investments
in research and development are crucial to overcoming these operational
hurdles.
Public
Perception and Acceptance:
The public
perception of coal as a dirty and environmentally harmful energy source remains
a significant hurdle for the clean coal technology market. Communicating the
benefits and advancements in clean coal technologies to the public is essential
to garner support and acceptance.
Policy and
Regulatory Uncertainty:
The lack of
consistent and favorable policies and regulations can hinder the growth of the
clean coal technology market. Governments worldwide need to establish clear and
stable frameworks that incentivize the adoption of clean coal technologies,
providing long-term assurance for investors and industry stakeholders.
Technological
Advancements and Innovation:
The clean coal
technology sector is rapidly evolving, and staying at the forefront of
technological advancements is crucial. Research and development efforts must
continue to drive innovation, reduce costs, and enhance the efficiency of clean
coal technologies.
Global Economic
Factors:
Economic
conditions and geopolitical factors can influence the adoption of clean coal
technologies. Economic downturns may reduce funding for research and
development, slowing down progress in the sector. International cooperation and
collaboration are essential to navigating global economic challenges.
Competing
Energy Sources:
The rise of
alternative and renewable energy sources poses a challenge to the clean coal
technology market. As solar, wind, and other clean energy options become more
competitive, the coal industry must continuously improve its environmental
performance to remain a viable part of the global energy mix.
Infrastructure
Development:
Building the
necessary infrastructure for clean coal technologies, such as carbon capture
and storage facilities, requires significant planning and investment.
Governments and industry players must work together to address infrastructure
challenges and create a supportive ecosystem for clean coal technology
deployment.
Key Market Trends
Increasing
Power Demand and Consumption
Increasing
power demand and consumption across the world are likely to drive the clean
coal technology market during the forecast period. Many government policies and
regulations and global environmental agency recommendations encourage global
manufacturers of clean coal technology to invest in R&D for the advancement
of technology. The global coal consumption rate, advanced technology, and
low-cost fuel provide new opportunities for the clean coal technology market
during the forecast period.
As the
Asia-Pacific region with a majorly highly populated country, China and India
are likely to dominate the clean coal technology market. Due to
industrialization in the Asia-Pacific region, energy demand from end-user
industries is projected to drive the region's market growth. According to International Energy Agency (IEA), in
2020, world total coal production was approximately 7575 metric ton. Coal is
used as a primary source of power, and electricity generation from coal-fired
power plants in OECD countries fell by 15.6% to 2 067.8 terawatt-hours (TWh) in
2020, continuing with the efforts for the decarbonization of the power sector.
At the same
time, total gross electricity production globally increased by 0.6% to 26823.2
TWh as compared to 2018. This increased percentage in gross electricity
generation is attributed to the emerging renewable energy markets. However, the
recent growth in the industry sector is increasing, which encourages the demand
for more power. Renewable energy in a short period may not complete the power demand.
Furthermore,
according to IEA, the global electricity demand is expected to grow at 2.1% per
year up to 2040. This, in turn, is likely to increase the share of electricity
in the total final energy consumption, from around 19% in 2018 to approximately
24% in 2040. Hence, with the increasing power demand, the market for clean coal
technology may witness growth globally during the forecast period to produce
efficient and low-emission coal power to control global CO2 emissions and
global warming.
Clean coal
technology is expected to grow due to the increasing power demand and fuel cost
savings with the help of capital investment and technology advancement.
Government and environmental agencies in North America and Asia-Pacific, such
as the US Department of Energy, National Energy Technology Laboratory (NETL),
and EIA, have committed to take initiatives toward clean coal technology and
help the market growth positively.
For instance,
in July 2020, the US Department of Energy and NETL collaborated on advanced
high-efficiency clean coal technologies with low-to-zero emissions through the
carbon capture, utilization, and storage (CCUS) technique and plan to reduce
nitrogen oxides by 83%, sulfur dioxide by 98%, and particulate matter by 99.8%
form the new coal plants. Thus, such government initiatives are likely to drive
clean coal technology during the forecast period.
Hence, owing
to the above reasons, increasing power demand and consumption are expected to
drive the market during the forecast period.
Segmental Insights
Technology
Insights
he Supercritical segment is leading the
market. The factor responsible is the use of supercritical technology as one of
the major clean coal technologies which are used in new commercial coal-fired
power plants in some countries. General Electric Power has signed a contract
with Electronic Ostroleka to build an ultra-supercritical coal-fired power
plant called ‘Ostroleka C’ in northeastern Poland. The company designs and
builds power plants and is also involved in the manufacture and supply of
ultra-supercritical pressure technology components.
Download Free Sample Report
Regional Insights
In 2020, the coal production growth in
China was affected to a great extent, only witnessing a 15% increase compared
to 2010. Conversely, coal consumption in China only recorded an increase of 1.3
% in 2020 due to major investments and shifting to renewable energy sources.
Moreover, in 2020, the total coal energy
consumption in India was 17.54 Exajoules, which was higher than the country's
consumption in 2015, 16.55 Exajoules. This growth in consumption was mainly
driven by a higher coal demand for power generation, which is likely to drive
the demand for clean coal technology for more clean power generation.
Furthermore, the governments of China,
India, Japan, etc., plan to increase the expenditure on the development of new
coal power projects. They are related to environmental safety, fuel cost
savings, and technological developments of new coal power projects.
For instance, in November 2021, the
government of China announced its plan to establish a special re-lending
facility of approximately USD 31.4 billion to support the clean coal
technology, including advanced pre-treatment of coal, and develop a
coalbed-methane value chain.
However, clean coal technology comes
with a high capital cost involved in the event of technology, installation, and
other related expenses, which are estimated to restrain the growth of the clean
coal technology market shortly.
Recent Developments
In February
2022, the Indian Institute of Chemical Technology (IICT) announced a
collaborative project of approximately INR 7.31 core with Northern Coalfields
Limits (NCL), Madhya Pradesh (MP), to take up research and development in the
field of sustainable mining and clean coal technologies (CCT).
In October
2021, Adani Power Limited announced its plan to commission Godda Ultra Super
Critical coal thermal Power Project by March 2022. The plant is located in
Jharkhand, India, and has an installed capacity of 1,600 MW. Thus, such
upcoming coal power plants are anticipated to increase the use of clean coal
technology during the forecast period.
Key Market Players
Alstom
SA
KBR, Inc.
Shell PLC
General Electric Company
Siemens Energy AG
|
By Technology
|
By Application
|
By Region
|
|
Supercritical
Ultra-Supercritical
Combined
heat & Power and Others
|
Mining
Dyes
Pigments
Others
|
North America
Europe
Asia Pacific
South America
Middle East & Africa
|
Report Scope:
In this report, the Global Clean Coal Technology Market
has been segmented into the following categories, in addition to the industry
trends which have also been detailed below:
- Clean Coal Technology Market,
By Technology:
o Supercritical
o Ultra-Supercritical
o Combined heat & Power and Others
- Clean Coal Technology Market,
By Application:
o Mining
o Dyes
o Pigments
o Others
- Clean Coal Technology Market,
By Region:
o North America
§ United States
§ Canada
§ Mexico
o Europe
§ France
§ United Kingdom
§ Italy
§ Germany
§ Spain
§ Netherlands
§ Belgium
o Asia-Pacific
§ China
§ India
§ Japan
§ Australia
§ South Korea
§ Thailand
§ Malaysia
o South America
§ Brazil
§ Argentina
§ Colombia
§ Chile
o Middle East & Africa
§ South Africa
§ Saudi Arabia
§ UAE
§ Turkey
Competitive Landscape
Company Profiles: Detailed analysis of the major companies
present in the Global Clean Coal Technology Market.
Available Customizations:
Global Clean Coal Technology Market report
with the given market data, Tech Sci Research offers customizations according
to a company's specific needs. The following customization options are
available for the report:
Company Information
- Detailed analysis and
profiling of additional market players (up to five).
Global Clean Coal Technology Market is an upcoming
report to be released soon. If you wish an early delivery of this report or
want to confirm the date of release, please contact us at [email protected]
Key Market Challenges
High Initial
Costs:
Implementing
clean coal technologies involves substantial upfront capital investments. The
development and deployment of advanced technologies, such as carbon capture and
storage, can be cost-prohibitive for many developing economies. Governments and
industry players need to collaborate to find financial mechanisms that make
these technologies economically viable.
Operational
Challenges:
The
integration of new technologies into existing coal-fired power plants can pose
operational challenges. Adapting infrastructure and ensuring smooth operation
can be complex, requiring skilled engineering and technical expertise. Investments
in research and development are crucial to overcoming these operational
hurdles.
Public
Perception and Acceptance:
The public
perception of coal as a dirty and environmentally harmful energy source remains
a significant hurdle for the clean coal technology market. Communicating the
benefits and advancements in clean coal technologies to the public is essential
to garner support and acceptance.
Policy and
Regulatory Uncertainty:
The lack of
consistent and favorable policies and regulations can hinder the growth of the
clean coal technology market. Governments worldwide need to establish clear and
stable frameworks that incentivize the adoption of clean coal technologies,
providing long-term assurance for investors and industry stakeholders.
Technological
Advancements and Innovation:
The clean coal
technology sector is rapidly evolving, and staying at the forefront of
technological advancements is crucial. Research and development efforts must
continue to drive innovation, reduce costs, and enhance the efficiency of clean
coal technologies.
Global Economic
Factors:
Economic
conditions and geopolitical factors can influence the adoption of clean coal
technologies. Economic downturns may reduce funding for research and
development, slowing down progress in the sector. International cooperation and
collaboration are essential to navigating global economic challenges.
Competing
Energy Sources:
The rise of
alternative and renewable energy sources poses a challenge to the clean coal
technology market. As solar, wind, and other clean energy options become more
competitive, the coal industry must continuously improve its environmental
performance to remain a viable part of the global energy mix.
Infrastructure
Development:
Building the
necessary infrastructure for clean coal technologies, such as carbon capture
and storage facilities, requires significant planning and investment.
Governments and industry players must work together to address infrastructure
challenges and create a supportive ecosystem for clean coal technology
deployment.
Key Market Trends
Increasing
Power Demand and Consumption
Increasing
power demand and consumption across the world are likely to drive the clean
coal technology market during the forecast period. Many government policies and
regulations and global environmental agency recommendations encourage global
manufacturers of clean coal technology to invest in R&D for the advancement
of technology. The global coal consumption rate, advanced technology, and
low-cost fuel provide new opportunities for the clean coal technology market
during the forecast period.
As the
Asia-Pacific region with a majorly highly populated country, China and India
are likely to dominate the clean coal technology market. Due to
industrialization in the Asia-Pacific region, energy demand from end-user
industries is projected to drive the region's market growth. According to International Energy Agency (IEA), in
2020, world total coal production was approximately 7575 metric ton. Coal is
used as a primary source of power, and electricity generation from coal-fired
power plants in OECD countries fell by 15.6% to 2 067.8 terawatt-hours (TWh) in
2020, continuing with the efforts for the decarbonization of the power sector.
At the same
time, total gross electricity production globally increased by 0.6% to 26823.2
TWh as compared to 2018. This increased percentage in gross electricity
generation is attributed to the emerging renewable energy markets. However, the
recent growth in the industry sector is increasing, which encourages the demand
for more power. Renewable energy in a short period may not complete the power demand.
Furthermore,
according to IEA, the global electricity demand is expected to grow at 2.1% per
year up to 2040. This, in turn, is likely to increase the share of electricity
in the total final energy consumption, from around 19% in 2018 to approximately
24% in 2040. Hence, with the increasing power demand, the market for clean coal
technology may witness growth globally during the forecast period to produce
efficient and low-emission coal power to control global CO2 emissions and
global warming.
Clean coal
technology is expected to grow due to the increasing power demand and fuel cost
savings with the help of capital investment and technology advancement.
Government and environmental agencies in North America and Asia-Pacific, such
as the US Department of Energy, National Energy Technology Laboratory (NETL),
and EIA, have committed to take initiatives toward clean coal technology and
help the market growth positively.
For instance,
in July 2020, the US Department of Energy and NETL collaborated on advanced
high-efficiency clean coal technologies with low-to-zero emissions through the
carbon capture, utilization, and storage (CCUS) technique and plan to reduce
nitrogen oxides by 83%, sulfur dioxide by 98%, and particulate matter by 99.8%
form the new coal plants. Thus, such government initiatives are likely to drive
clean coal technology during the forecast period.
Hence, owing
to the above reasons, increasing power demand and consumption are expected to
drive the market during the forecast period.
Segmental Insights
Technology
Insights
he Supercritical segment is leading the
market. The factor responsible is the use of supercritical technology as one of
the major clean coal technologies which are used in new commercial coal-fired
power plants in some countries. General Electric Power has signed a contract
with Electronic Ostroleka to build an ultra-supercritical coal-fired power
plant called ‘Ostroleka C’ in northeastern Poland. The company designs and
builds power plants and is also involved in the manufacture and supply of
ultra-supercritical pressure technology components.
Download Free Sample Report
Regional Insights
- In 2020, the coal production growth in
China was affected to a great extent, only witnessing a 15% increase compared
to 2010. Conversely, coal consumption in China only recorded an increase of 1.3
% in 2020 due to major investments and shifting to renewable energy sources.
- Moreover, in 2020, the total coal energy
consumption in India was 17.54 Exajoules, which was higher than the country's
consumption in 2015, 16.55 Exajoules. This growth in consumption was mainly
driven by a higher coal demand for power generation, which is likely to drive
the demand for clean coal technology for more clean power generation.
- Furthermore, the governments of China,
India, Japan, etc., plan to increase the expenditure on the development of new
coal power projects. They are related to environmental safety, fuel cost
savings, and technological developments of new coal power projects.
- For instance, in November 2021, the
government of China announced its plan to establish a special re-lending
facility of approximately USD 31.4 billion to support the clean coal
technology, including advanced pre-treatment of coal, and develop a
coalbed-methane value chain.
- However, clean coal technology comes
with a high capital cost involved in the event of technology, installation, and
other related expenses, which are estimated to restrain the growth of the clean
coal technology market shortly.
Recent Developments
- In February
2022, the Indian Institute of Chemical Technology (IICT) announced a
collaborative project of approximately INR 7.31 core with Northern Coalfields
Limits (NCL), Madhya Pradesh (MP), to take up research and development in the
field of sustainable mining and clean coal technologies (CCT).
- In October
2021, Adani Power Limited announced its plan to commission Godda Ultra Super
Critical coal thermal Power Project by March 2022. The plant is located in
Jharkhand, India, and has an installed capacity of 1,600 MW. Thus, such
upcoming coal power plants are anticipated to increase the use of clean coal
technology during the forecast period.
Key Market Players
Alstom
SA
KBR, Inc.
Shell PLC
General Electric Company
Siemens Energy AG
|
By Technology
|
By Application
|
By Region
|
|
Supercritical
Ultra-Supercritical
Combined
heat & Power and Others
|
Mining
Dyes
Pigments
Others
|
North America
Europe
Asia Pacific
South America
Middle East & Africa
|
Report Scope:
In this report, the Global Clean Coal Technology Market
has been segmented into the following categories, in addition to the industry
trends which have also been detailed below:
- Clean Coal Technology Market,
By Technology:
o Supercritical
o Ultra-Supercritical
o Combined heat & Power and Others
- Clean Coal Technology Market,
By Application:
o Mining
o Dyes
o Pigments
o Others
- Clean Coal Technology Market,
By Region:
o North America
§ United States
§ Canada
§ Mexico
o Europe
§ France
§ United Kingdom
§ Italy
§ Germany
§ Spain
§ Netherlands
§ Belgium
o Asia-Pacific
§ China
§ India
§ Japan
§ Australia
§ South Korea
§ Thailand
§ Malaysia
o South America
§ Brazil
§ Argentina
§ Colombia
§ Chile
o Middle East & Africa
§ South Africa
§ Saudi Arabia
§ UAE
§ Turkey
Competitive Landscape
Company Profiles: Detailed analysis of the major companies
present in the Global Clean Coal Technology Market.
Available Customizations:
Global Clean Coal Technology Market report
with the given market data, Tech Sci Research offers customizations according
to a company's specific needs. The following customization options are
available for the report:
Company Information
- Detailed analysis and
profiling of additional market players (up to five).
Global Clean Coal Technology Market is an upcoming
report to be released soon. If you wish an early delivery of this report or
want to confirm the date of release, please contact us at [email protected]