Global Steam Coal Market 2019-2023 | Growing Adoption of Clean Coal-Based Power Generation to Boost Demand | Technavio – Hastings Tribune


LONDON–(BUSINESS WIRE)–Apr 15, 2019–The global steam coal market is expected to post a CAGR of more than 1% during the period 2019-2023, according to the latest market research report by Technavio.

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The global steam coal market will post a CAGR of more than 1% during the period 2019-2023 (Graphic: Business Wire)

With the rise in population, growing urbanization, and the growth in the economy, the demand for energy is increasing significantly across the world. Factors such as the rise in population, improved standards of living, and availability of better infrastructure and facilities in urban areas as compared to rural areas have led to the rapid growth in urbanization globally. Urbanization directly boosts industrial activities such as construction and automotive, thereby, driving the demand for power. As steam coal is the dominant source of energy, the growth in global demand for energy will boost the steam coal market during the forecast period.

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

Global steam coal market: Growing adoption of clean coal-based power generation

Coal-based power generation has been rising, despite the growth in the adoption of low-carbon-emitting sources such as renewables. Moreover, clean coal technologies are increasingly being employed to ensure low carbon emissions from steam coal-based power generation and to comply with stringent government regulations pertaining to carbon emissions. Several initiatives are being taken up by various governments to reduce emissions from the power sector, which are significantly contributing to the growth in the adoption of clean coal technologies. This will drive the growth of the steam coal market during the forecast period.

“The demand for coal has increased considerably owing to the growth in coal-fired power generation. As of 2017, coal-fired power generation was the largest source of electricity generation globally. The demand for power generation using coal is also driven by the rise in demand for energy in emerging economies such as India and China. Adding to this growth is the replacement of traditional coal-based power plants with more efficient technologies such as combined heat and power (CHP) technology,” says a senior research analyst at Technavio.

Global steam coal market: Segmentation analysis

This market research report segments the global steam coal market by application (power, cement, and others) and geographic regions (APAC, EMEA, and Americas).

The power segment held the largest steam coal market share in 2018. The growth of the power segment can be attributed to the growing demand for power, high dependency and low cost of coal-based power generation, and the ongoing developments in clean coal technologies.

The APAC region led the market in 2018, followed by EMEA and the Americas respectively. The market in APAC is driven by the high dependency on coal for power generation in developing countries such as China, India, Australia, and Indonesia.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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View source version on businesswire.com:https://www.businesswire.com/news/home/20190415005380/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: ENERGY COAL UTILITIES

SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 04/15/2019 11:14 AM/DISC: 04/15/2019 11:14 AM

http://www.businesswire.com/news/home/20190415005380/en

Copyright Business Wire 2019.



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