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

LONDON–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/Research?src=hash” target=”_blank”gt;#Researchlt;/agt;–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.


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.

Looking for more information on this market? Request
a free sample report

Technavio’s sample reports are free of charge and contain multiple
sections of the report such as the market size and forecast, drivers,
challenges, trends, and more.

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.

If you are interested in more information, please contact our media team
at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US:
+1 844 364 1100
UK: +44 203 893 3200
www.technavio.com