ID: MRFR/E&P/8534-HCR | February 2021 | Region: Global | 111 pages
Clean Coal Technology Market size is projected to reach registering a 3.7% CAGR between 2020 and 2026.
Coal is one of the major sources for electricity generation and accounts for around 38% of the overall electricity generation. However, 14 billion tonnes of carbon dioxide is produced every year by burning coal, which is released into the atmosphere causing environmental concerns. The development of clean coal technology is considered as a solution to address the problem of carbon emission. However, this technology is still in its experimental phase and need to be commercialized to make coal economically competitive despite the cost of achieving low emissions.
The major factors driving the growth of the global clean coal technology market is the growing demand for clean energy and the demand for sustainable energy resources. For instance, legislative measures are being taken in OECD countries that are increasing investments in the development of clean coal technologies. Additionally, recently, concerns over the emission of heavy metals into the air have become an important issue in the US, where legislation has been enforced. All these factors will boost the market for the clean coal technology market. However, the increasing use of renewable energy resources across the world is a restraining factor for the growth of the global clean coal technology market.
Many major players such as General Electric Company, LanzaTech, Gasliner, GreatPoint Energy, Metna, Ciris Energy, and JES Energy are actively focusing on signing contracts and agreements with power plants to provide clean coal technologies. For instance, in 2019, General Electric Company entered into a contract to develop clean coal energy in the Hassyan power plant in the UAE. This contract aims to diversify sources of power generation to incorporate 44% clean energy, 38% gas, 12% coal, and 6% nuclear across the UAE by 2050. Such developments in the market are expected to drive the growth of the global clean coal technology market during the forecast period.
The Global Clean Coal Technology Market has been segmented based on Technology. Based on technology, the global market is divided into gasification technology, combustion technology, and enabling technology. The gasification segment is expected to hold the largest share of the market and grow at the fastest rate during the forecast period. In coal gasification, new challenges for IGCC are focused on hot cleaning techniques and the development of new dry sorbents and catal-sorbents. This technology significantly focuses on low and zero GHG emissions.
Global Clean Coal Technology Market is expected to grow at 3.7% CAGR during the forecast period.
The Key Players operating in the Global Clean Coal Technology Market are Clean Coal Technologies Inc., (US), General Electric Company (US), Alstom Power (France), Siemens AG. (Germany), ExxonMobil (US), Shell (Netherlands), JES Energy (US), InTherSoft (Poland), GreatPoint Energy (US), E3 Clean Technologies (South Africa), Royal Dutch Shell PLC (Netherlands), LanzaTech (New Zealand), Accelergy (US), Hygen (Sweden), Cortus AB (Sweden), Gasliner (Latvia), and Ciris Energy (US).
The global clean coal technology market is expected to witness a high growth rate during the study period owing to the increasing demand for clean energy and focus on reducing carbon emissions. This is expected to boost the demand for clean coal technology in the global market during the forecast period.
Based on region, the global clean coal technology market is segmented into Asia-Pacific, North America, Europe, the Middle East & Africa, and South America. Asia-Pacific holds the largest clean coal technology market share due to rapid industrialization in countries such as China, Japan, and India. The increasing energy demand from end-use industries is projected to drive market growth in Asia-Pacific.
|Market Size||2027: Significant Value|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Clean Coal Technologies Inc., (US), General Electric Company (US), Alstom Power (France), Siemens AG. (Germany), ExxonMobil (US), Shell (Netherlands), JES Energy (US), InTherSoft (Poland), GreatPoint Energy (US), E3 Clean Technologies (South Africa), Royal Dutch Shell PLC (Netherlands), LanzaTech (New Zealand), Accelergy (US), Hygen (Sweden), Cortus AB (Sweden), Gasliner (Latvia), and Ciris Energy (US).|
|Key Market Opportunities||New product launches and R&D Amongst major key Players|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The global clean coal technology market is projected to experience a growth rate of 3.7% from 2020 to 2026.
Concern over rising carbon emissions is the major driver of the global clean coal technology market.
Commercialization of the technology and keeping coal prices economical are the major challenges faced by the global clean coal technology market.
Gasification can fetch huge returns for the global clean coal technology market.
Asia Pacific is expected to be lucrative for the global clean coal technology market till 2027.
JES Energy, ExxonMobil, E3 Clean Technologies, Ciris Energy, Shell, Siemens AG, Royal Dutch Shell PLC, Cortus AB, Alstom Power, Gasliner, InTherSoft, General Electric Company, Hygen, LanzaTech, GreatPoint Energy, Accelergy, and Clean Coal Technologies Inc. are prominent players of the global clean coal technology market.
Coal cleaning by 'washing' has been standard practice in developed countries for some time. It reduces emissions of ash and sulfur dioxide when the coal is burned. Electrostatic precipitators and fabric filters can remove 99% of the fly ash from the flue gases – these technologies are in widespread use. Flue gas desulfurisation reduces the output of sulfur dioxide to the atmosphere by up to 97%, the task depending on the level of sulfur in the coal and the extent of the reduction. It is widely used where needed in developed countries.