The global coal-fired power capacity is expected to grow to 2072.8 GW by 2020, according to a new report from Grand View Research.
Coal’s low cost will drive Asian demand
The availability of and low costs of the fuel in coal-rich Asian countries will stay the key driver for the market, while rising electricity consumption – especially in emerging markets – is also expected to have a positive impact on demand.
On the downside, regulatory action in Europe and North America, along with a push for cleaner energy sources, may hinder market growth in these regions over the next six years.
Commercial usage dominate coal-fired power demand
In terms of application, commercial uses dominated coal-fired power demand, accounting for 55.7% of the total market in 2014. Commercial applications are also expected to be the fastest growing application sector with a CAGR of 5% from 2014 to 2020.
The report also analyed the technology market for the coal-fired power sector and found that pulverized coal systems accounted for over half of the capacity installed in 2013. Meanwhile, alternative cyclone furnace systems will grow at a CAGR of 2.6% to 2020 to reach 614.6 GW of installed capacity.
Written by Jonathan Rowland
Read the article online at: https://www.worldcoal.com/power/28052014/coal_fired_capacity_to_surpass_2_tw_by_2020_coal897/