Global Clean Coal Technologies Market 2019-2023 | Increasing Popularity of Hybrid Power Projects Will Drive Growth | Technavio

The global clean coal technologies market is expected to post a CAGR of 3% during the period 2019-2023, according to the latest market research report by Technavio.

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The growing global population, availability of superior infrastructure and facilities, and improved standards of living have led to the growth in urbanization, especially in emerging economies such as China, India, and Nigeria. It is owing to this, industries such as construction and automotive need to increase their output significantly, which ultimately increases demand for power, especially from coal. Therefore, the high demand for coal to generate power plays a crucial part in driving growth in clean coal technologies owing to factors such as the increasing focus on reducing carbon emissions, sustainable energy sources, and government regulations.

As per Technavio, the increasing popularity of hybrid power projects will have a positive impact on the clean coal technologies market and contribute to its growth significantly over the forecast period. This global clean coal technologies market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

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Global clean coal technologies market: Increasing popularity of hybrid power projects

Co-firing natural gas in coal-fired boiler helps in reducing GHG emissions and improves operational flexibility. Co-firing can also be used as a substitute to partial carbon capture and storage in coal-fired power plants, and the emission standards can be maintained by co-firing natural gas in highly efficient supercritical pulverized coal-fired power plants. Such hybrid power plants will increase the efficiency of coal-fired power plants, which in turn, will augment demand for clean coal technologies.

“The development of ash handling systems, the rise in collaborations, the rising need for clean energy, and the stringent government policies about clean and sustainable energy are some other major aspects that are expected to boost the growth of the global market during the forecast period,” says an analyst at Technavio.

Global clean coal technologies market: Segmentation analysis

This market research report segments the global clean coal technologies market by technology (CHP, supercritical, ultra-supercritical, and others) and geographical regions (the Americas, APAC, and EMEA).

The CHP segment held the largest market share in 2018. This technology segment is expected to dominate the global market throughout the forecast period. The APAC region led the market in 2018, and the region is expected to dominate the market through 2023, with nearly 4% increase in its market share.

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