Dublin, May 10, 2023 (GLOBE NEWSWIRE) — The “Clean Coal Technology Global Market Report 2023” report has been added to ResearchAndMarkets.com’s offering.
The global clean coal technology market is expected to grow from $3.69 billion in 2022 to $3.89 billion in 2023 at a compound annual growth rate (CAGR) of 5.59%. The clean coal technology market is expected to grow to $4.61 billion in 2027 at a CAGR of 4.30%.
The clean coal technology market research report is one of a series of new reports that provides clean coal technology market statistics, including clean coal technology industry global market size, regional shares, competitors with a clean coal technology market share, detailed clean coal technology market segments, market trends and opportunities, and any further data you may need to thrive in the clean coal technology industry. This clean coal technology market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The growing demand for clean energy is expected to boost the growth of the clean coal technology market going forward. Clean energy is an energy that is produced from renewable, non-emitting sources and energy that is conserved through energy-saving practices. It is used in different applications for various purposes, from electricity generation to heating water and more, depending on the source of the energy. One of the primary causes of the rising need for clean energy is the rising use of electricity.
Electricity consumption is greater because of rising household incomes, the electrification of transport and heat, and the growing demand for digitally connected devices and air conditioning. For instance, according to a research by the International Energy Agency, an independent intergovernmental organization with headquarters in Paris, the use of renewable energy increased by 3% in 2020. Additionally, from 27% in 2019 to 29% in 2020, renewable energy made up a larger part of the world’s electricity production. Therefore, the growing demand for clean energy is driving the growth of the clean coal technology market.
The new innovations are a key trend gaining popularity in the clean coal technology market. Major players in the clean coal technology market are focusing on new product innovations to strengthen their position in the market. For instance, in November 2021, Carbon Clean, a UK-based company that provides industrial carbon capture solutions, launched a modular CO2 capture system. Carbon capture firm Carbon Clean has launched an off-the-shelf CO2 capture technology that can capture greenhouse gases for $30 or less per metric tonne.
The new technology, CycloneCC, captures carbon with a specific amine-based solvent in a revolving packed-bed reactor. In these systems, gas streams containing carbon dioxide (CO2) are pumped through a contact chamber, where the carbon dioxide (CO2) dissolves and reacts with the solvent. Heat and vacuum are used in a different chamber to draw the now-concentrated CO2 back out of the solvent. In addition to having a lesser environmental impact, Carbon Clean claims that the cost of purchasing and operating its system will be half that of custom tower-based solutions. Cemex intends to use a module from CycloneCC that can capture 100 metric tonnes (t) per day as its first customer, at its location in Rudersdorf, Germany. Carbon Clean plans to add standard sizes up to 300 t after launching with 10 t and 100 t modules.
In February 2022, Babcock & Wilcox Enterprises Inc., an American renewable, environmental, and thermal energy technologies and services provider, acquired Fossil Power Systems Inc. (FPS) for an undisclosed amount. This acquisition helps Babcock & Wilcox Enterprises Inc.’s products and services explore more opportunities and deliver efficient and environmentally sustainable technologies and solutions. FPS is a Canadian company operating in clean coal technologies.
Asia-Pacific was the largest region in the clean coal technology market in 2022 and is expected to be the fastest-growing region in the forecast period. The regions covered in the clean coal technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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1) By Type: Fluidized-Bed Combustion; Integrated Gasification Combined Cycle (IGCC); Flue Gas Desulfurization; Low Nitrogen Oxide (NOx) Burners; Selective Catalytic Reduction (SCR); Electrostatic Precipitators
2) By Combustion: Pulverized Coal; Supercritical Pulverized Coal; Circulating Fluidized Bed; Integrated Gasification Combined Cycle
3) By Technology: Supercritical; Ultra-Supercritical; Combined Heat and Power; Other Technologies
4) By Capture Method: Post-Combustion Capture; Pre-Combustion Capture; Oxy-Coal combustion
5) By End User: Chemical Industry; Commercial; Pharmaceutical Industry; Other End Users
|No. of Pages||200|
|Forecast Period||2023 – 2027|
|Estimated Market Value (USD) in 2023||$3.89 billion|
|Forecasted Market Value (USD) by 2027||$4.61 billion|
|Compound Annual Growth Rate||4.3%|
Key Topics Covered:
1. Executive Summary
2. Clean Coal Technology Market Characteristics
3. Clean Coal Technology Market Trends And Strategies
4. Clean Coal Technology Market – Macro Economic Scenario
5. Clean Coal Technology Market Size And Growth
6. Clean Coal Technology Market Segmentation
7. Clean Coal Technology Market Regional And Country Analysis
A selection of companies mentioned in this report includes
- Clean Coal Technologies Inc.
- General Electric Company
- Alstom Power
- Siemens AG
- Babcock & Wilcox Enterprises Inc.
For more information about this report visit https://www.researchandmarkets.com/r/pdl9tn
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- Global Clean Coal Technology Market