Growing energy demand across the globe is expected to drive the
global coal fired generation market over the next five years. Coal fired
generation process is cheaper than other sources owing to abundant
availability and low price of coal. Reliable and inexpensive nature of
coal is expected to cater the increasing electricity demand over the
forecast period. Oil & gas reserves depletion is anticipated to
boost the market in near future. Regional government initiatives to
provide power to all at affordable price mainly in emerging and
developing countries is projected to bolster the coal fired generation
market over the next five years.
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Major electricity generation companies especially in Europe faced
losses on account of using high price natural gas as a source to
generate electricity. However, they have been constantly focusing on
usage of coal as a major source of generating electricity to keep their
profit high. Many European nations especially Germany has planned to
open new coal fired generation sites on account of increasing energy
demand over the next five years.
Volatile oil & gas prices and uncertain supply are anticipated to
foster the market growth over the next five years. Over 40% electricity
is being generated using coal across the globe in 2011. Key participants
in the global coal fired generation market are involved in developing
new combustion technologies to improve conventional PCC (Pulverized Coal
Combustion) efficiency. This is expected to boost the global market
over the forecast period.
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Stringent environmental norms regarding greenhouse gases emission
during coal fired generation process is anticipated to have a negative
impact on the market growth over the next five years. Coal fired
generation market is technologically segmented as PCC (pulverized coal
combustion) and cyclone furnace. PCC was the largest technology segment
in 2013 owing to low greenhouse gas emission and high thermal
efficiency. High emission rates in traditional technologies are expected
to cater CFB (circulating fluidized bed) systems growth over the
foreseeable future.
Commercial was the dominant application segment in 2013 accounting
for over 55% of the total market. This is also anticipated to be the
fastest growing application segment over the forecast period. Asia
Pacific dominated the global coal fired generation market in 2013
accounting for over 55% owing to increasing electricity demand in the
region. The region is projected to witness fastest growth over the next
five years. China was the largest consumer in the region due abundant
coal availability and cheap prices in 2013. China reduced coal prices to
offset high natural gas prices in the last two years.
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Emerging and developing economies such as India, Indonesia, China and
Brazil are expected to witness considerable market growth on account of
profitable power generation process over the next five years. North
America is anticipated to witness stagnant growth owing to stringent
environmental regulations associated with greenhouse gas emission. Some
of the coal dependent nations include Germany (41%), U.S.A. (45%),
Morocco (51%), Czech Republic (51%), Greece (54%), Israel (58%), India
(68%), Kazakhstan (75%), Australia (78%), China (79%), Poland (87%) and
South Africa (93%).
China Huaneng Group was the market leader in coal fired generation
market in 2013. The market is moderately fragmented. China Huaneng
Group, Korea Electric Power Corporation, Shenhua Group Corporation
Limited and China Datang Corporation are the major players contributed
over 20% of the total market. Some other key players include E.ON SE,
Duke Energy Corporation, American Electric Power Company Inc., and
National Thermal Power Corporation Limited.
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