Clean Coal Technology Market |Top Trend and Drivers

The global clean coal technologies market is expected to grow at a CAGR of above 3% between 2019 and 2023 as per the Technavio latest report. This report provides an in-depth analysis of international market by region and technology. It also presents an in-depth discussion of market drivers such as growing awareness of the health benefits of clean coal technologies market, along with challenges and trends affecting the growth of the market.

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Global Clean Coal Technology Market Trend and Drivers

According to market research experts within the clean coal technology market the exponentially growing need for clean energy is one of the main factors that will affect the growth of the global clean coal technology market over the forecast period.

Further, it was identified that coal has the highest share as a source of electricity production and accounted for 37% of the total electricity produced in 2017. Industry experts within the energy industry found that the ultra-supercritical technologies result in nearly 35% lesser CO2 emissions compared with a sub-critical coal fired power plants.

There is an increasing popularity of hybrid power projects all over the world. It has been observed that coal-fired power plant operator globally has been exploring avenues to maximize efficiency and improve the operational lives of plants.

For instance, solar PV cells can be involved in a combine cycle gas turbine plant, thus allow coal fired power operators to diversify economic interest and reduce the overall environmental footprint of the plant site. This can prove to be one of the major factors impacting the growth of the clean coal technology market until 2023.

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Supercritical and ultra-supercritical technologies are the only two clean coal technologies that have been widely deployed for the construction of pulverized coal combustion plants. IGCC and CCS are new and technically viable technologies that have still not achieve popularity worldwide because of their higher capital and operational costs.

However, technological advancements in this area is expected to make these technologies significantly more cost competitive and commercially viable.