Clean Coal Technology Market - Global Industry Analysis 2023

Coal’s role is under debate as resource poor nations such as China, Japan and India, cannot lower consumption rates despite liberation of greenhouse kgas emissions. New emission regulations imposed on coal-fired power plants have forced plant operators to look towards cleaner and more efficient technologies. Although newly imposed policies and regulations are all favoring renewable and natural gas-fired generation, coal is expected to remain an integral part of the global power generation mix in the near future.

This is primarily because electricity is a highly price elastic commodity and coal-fired generation is one of the cheapest methods of electricity generation that can be used for supplying a region’s base load. Furthermore, cheap and widely available reserves of coal scattered across the globe would strengthen the position of coal-fired generation in the global power mix in the next few decades. Clean coal technologies are referred to as technologies that reduce environmental emission from coal power plants usually through gasification or combustion process. Technological advances have led to more efficient combustion of coal resulting in lower emission of nitrogen oxide and sulfur dioxide.

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The global clean coal technology market is expected to rise significantly in the future. The growth in the clean coal technology market is primarily driven by the escalating demand for reliable and clean power generation technology coupled with increasing industrialization, and urbanization. Generating power from coal-fired thermal power plants leads to carbon emissions which has negative impacts on the environment. Development of clean coal technologies is likely to reduce the carbon positive pollutants in the atmosphere. Furthermore, avoided environmental costs, fuel cost savings and capital and technology savings in existing as well as new plants is anticipated to accelerate growth in the clean coal technology market. However, high technology and other cost associated with clean coal technologies may hamper growth in the global clean coal technology market.

The global clean coal technology market can be categorized into three broad segments as: Combustion technologies, Gasification technologies, and Enabling technologies. On the basis of combustion technologies the market can be sub-categorized as pulverized coal combustion and fluidized bed combustion technology. On the basis of gasification technologies, the market can be further segmented as integrated coal gasification combined cycle, hydrogen from coal process, and multi-purpose coal gasification technology. Enabling technologies is another major trending segment in this market. This market can be further sub-segmented as carbon capture and storage, and carbon sequestration technology.

Asia Pacific is projected to be one of the major markets to invest in clean coal technology. The implementation of clean coal technologies in Asia Pacific has been driven by countries such as China, and Japan in order to achieve improved plant efficiencies and reduce fuel costs. The Southeast Asian countries, which are also major coal consumers, have started investing in this technology. Apart from Asia Pacific, developed economies of Europe and North America are also projected to invest significant amounts in implementation of clean coal technologies. The European Union encourages and funds research activities related to development of carbon capture and storage technology. Some of the states in the U.S. are also heavily reliant of coal-fired units and are thus projected to invest in clean coal technology to meet environmental standards.

Some of the major players investing in global clean coal technology market include Clean Coal Technologies, Inc., General Electric Company, Siemens AG, and Alstom Power.

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