The Global Market for Clean Coal Technologies is Projected to Reach US$40.5 Billion by 2024
Growing Emphasis on Limiting
the Environmental Impact of Coal to Drive Demand for Clean Coal Technologies,
According to a New Report by Global Industry Analysts, Inc.
GIA
launches comprehensive analysis of industry segments, trends, growth drivers,
market share, size and demand forecasts on the global Clean Coal Technologies
market. The global market for Clean
Coal Technologies is projected to reach US$40.5 billion by 2024, driven by continued
dependence on coal for energy generation in most countries coupled with rising
demand for reliable and clean power generation, and supportive government
policies for curbing emissions of coal fired power plants.
Coal
forms an integral part of the energy mix of several countries across the world.
However deleterious environmental effects from coal use in power generation
remain a major concern as the fuel tends to emit SO2, NOx, CO2 and other types
of chemical by-products that pose a serious threat to the environment and human
health. Propelled by growing concerns
pertaining to environmental degradation, various countries are now devising
innovative strategies to minimize carbon footprints. Clean coal technologies
are used for reduction of environmental emission from coal-fired thermal plants
that use combustion or gasification processes. Clean coal technologies comprise
techniques such as integrated gasification cycle, carbon capture and storage,
flue-gas desulfurization, selective catalytic reduction, low nitrogen oxide
burners, and electrostatic precipitators among others. Increasing demand for
environment-friendly technology due to increasing pollution rate and growing
industrialization continue to drive demand for clean coal technologies. In most recent times, escalating global warming
issues and increasing pollutants have also shifted the focus on CCTs for
controlling carbon dioxide emissions.
Further, supportive policies and standards towards fuel cost savings, increased
spending on environment safety, and technological advancements in new as well
as existing plants are expected to drive growth of the global clean coal
technology market. Clean coal technologies are expected to play a larger role
in curbing emissions apart from increasing the efficiency of coal-fired power plants. The latest advancements in
coal washing and emissions treatments have played a significant role in
reducing costs and improving the effectiveness of Clean coal technologies.
Combustion technologies such as super critical (SC), pressurized fluidized bed
combustion, and UC (ultra-super critical) technologies are gaining demand in
lowering emissions and improving the economics of coal-fired generation. The
use of Integrated Gasification and
Combined Cycle (IGCC) technology also witnessed momentum in recent years, led by its ability
to realize significant increase in efficiency and reduction in CO2 emissions in
comparison to conventional pulverized coal technologies.
Carbon
Capture and Sequestration (CCS) is another emerging technology, which allows
capture of CO2 before the gas is released into the atmosphere.
As
stated by the new market research report on Clean Coal Technologies
(CCT), Asia
Pacific represents the largest as well as the fastest growing market worldwide.
The region is led by China and India, and other South East Asian countries
where coal accounts for a significant share of domestic power mix. Growth in
the clean coal technology market in these countries is driven by increasing
demand for energy, rising climate policy goals along with increasing support
from the regional governments for investment in clean coal technologies,
including efficient supercritical and ultra-supercritical plants.
Major
players in the market include ADA-ES, Inc., Allied Resource Corp., GE Power,
Bharat Heavy Electricals Limited, Bixby Energy Systems, Clean Coal
Technologies, Inc., Doosan Heavy Industries & Construction Ltd., Foster
Wheeler AG, Mitsubishi Hitachi Power Systems, Shanghai Electric Group Co.,
Ltd., and The Babcock & Wilcox Company, among others.
The research report titled “Clean Coal Technologies
(CCT): A Global Strategic Business Report”
announced by Global Industry Analysts Inc., provides a comprehensive review of
market trends, issues, growth drivers, mergers, acquisitions and other
strategic industry activities. The report provides market estimates and
projections in US dollars for all major geographic markets including the United
States, Japan, Europe, Asia-Pacific and Rest of World.
For enquiries e-mail us at rsd@strategyr.com or info411@strategyr.com.
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