Global clean coal technology market is anticipated to witness significant development from 2015 to 2022. Increasing clean energy demand among consumers is expected to drive the global clean coal technology market.
Clean coal technologies include electrostatic precipitators, integrated gasification combined cycle, carbon capture & storage, selective catalytic reduction, flue gas desulfurization and low nitrogen oxide burners.
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Rising environmental concerns and growing awareness among consumers coupled with government incentives are expected to aid the overall demand. R&D initiatives and technological innovations for reducing hazardous emissions such as sulfur dioxide and nitrogen oxide have led to extreme cost reductions. Favorable policies from EPA and EIA coupled with venture capital funding are expected to benefit the overall market growth.
Higher clean coal technology installation require large amount of investment. High initial investments coupled with long turnover periods result in high financial risks for the market investors. This may emerge as a major hindrance to the overall market growth. However, R&D initiatives to tackle technological and fiscal challenges promise abundant opportunities for the existing industry participants.
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Asia Pacific has dominated the global clean coal technology market revenue share in 2014. Industrialization growth in countries such as Japan, China, Malaysia, Indonesia, Vietnam, South Korea and India is expected to drive the regional demand. North America is expected to exhibit rapid growth rate owing to favorable environmental regulations and awareness among consumers. Major technological growth in U.S. has resulted in clean coal energy production capacity expansion, benefitting the overall regional demand.
Europe is expected to witness positive growth rate over the next seven years. Germany, UK and France promises rapid growth. Latin America and Middle East are expected to observe moderate to sluggish growth over the forecast period. However, Brazil and Saudi Arabia promises significant growth over the forecast period.
The industry is moderately fragmented in nature as there are numerous medium scale business players in the industry, who held significant revenue share in 2014. Prominent global clean coal technology industry participants include General Electric Company, KBR, Clean Coal Technologies Inc., Siemens AG and Alstom Power. Other market participants include Dynegy Inc. and Tucson Electric Power.
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