According to IMARC Group’s latest report, titled “Clean Coal Technologies Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global clean coal technologies market reached a value of US$ 3.6 Billion in 2020. Looking forward, the market is expected to exhibit moderate growth during 2021-2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Coal is among the widely used fossil fuels across the globe. However, coal combustion leads to significant amounts of carbon emissions annually. As a result, several clean coal technologies (CCT) have been developed that reduce the adverse environmental effects of the process by containing carbon emissions. The most commonly used technologies include integrated gasification combined cycle (IGCC), selective catalytic reduction (SCR), flue gas desulfurization and fluidized-bed combustion. These technologies are designed to enhance the efficiency and environmental acceptability of coal extraction, preparation, and use.
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Market Trends:
At present, coal is utilized for generating around a third of the total electricity produced globally, as well as more than two-thirds of the total steel production. The extensive utilization of coal for these processes results in around 14 billion tons of carbon dioxide (CO2) annually. Owing to this, various organizations have developed CCT that is both cost-effective and energy-efficient and can be utilized by future generations without contributing to global warming. Apart from this, the widespread adoption of hybrid-power projects has escalated the demand for CCT to minimize the overall carbon emissions, enhance operational flexibility and utilize sustainable sources of energy. Moreover, governments of several countries are imposing stringent policies, coupled with stricter emission regulations, to promote the use of renewable and cleaner technologies. They are also investing in the research and development (R&D) of new-generation zero-emission CCT for reducing nitrogen oxide and sulfur dioxide emissions, which will enable them to utilize coal to generate electricity at low costs while meeting critical environmental objectives. Looking forward, the market value is projected to reach US$ 3.9 Billion by 2025, expanding at a CAGR of 5.0% during 2020-2025.
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List of Key Companies Covered in this Market Report:
- Alstom Power
- Babcock & Wilcox Enterprises Inc. (NYSE: BW)
- Clean Coal Technologies Inc. (OTCMKTS: CCTC)
- General Electric Company (NYSE: GE)
- Mitsubishi Heavy Industries Ltd. (TYO: 7011)
- Shanghai Electric (SHA: 601727)
- Siemens AG (OTCMKTS: SIEGY)
Breakup by Technology:
- Supercritical
- Ultrasupercritical
- Integrated Gasification Combined Cycle (IGCC)
- Others
Breakup by Geography:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021- 2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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