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According to Technavio's latest market research report, the global thermal coal market is expected to grow at a CAGR of 1%
from 2019 to 2023.
The growth in energy demand will be the main driver of the global thermal coal market
.
The global demand for energy is increasing
dramatically due to a number of factors such as population growth, accelerated urbanization, and economic growth.
Factors such as increasing population, rising living standards, and better infrastructure in urban areas have led to rapid urbanization
.
This directly boosts industrial activity, which in turn drives demand
for electricity and energy.
As thermal coal is the primary energy source, its demand growth will boost the power coal market during the
forecast period.
However, end-user industries are using low-carbon sources, but this has not slowed the growth of
coal power generation.
In addition, clean coal technologies are increasingly being adopted to ensure low carbon emissions
from thermal coal-based power generation.
This enables end-users to comply with strict government regulations
regarding carbon emissions.
According to Technavio, the growing popularity of clean coal-based power generation will positively impact the market and contribute significantly to
the market growth during the forecast period.
The growing popularity of clean coal-based power generation will be one of the key trends in the
global thermal coal market.
Governments are taking several initiatives to reduce emissions from the power sector, which has greatly contributed to the adoption of
clean coal technologies.
This will drive the growth of the
thermal coal market during the forecast period.
"Aside from the increasing adoption of clean coal power generation, the low cost of using coal for power generation and high reliance on coal-fired power generation are some of the other major factors that will drive the growth of the market during the forecast period," explained
Technavio's senior analyst.
Asia Pacific will continue to dominate the global thermal coal market during the forecast period, owing to the high demand
for thermal coal in Southeast Asian countries.
This is followed by the Middle East, Europe and Africa, and the Americas
.
According to Technavio's latest market research report, the global thermal coal market is expected to grow at a CAGR of 1%
from 2019 to 2023.
The growth in energy demand will be the main driver of the global thermal coal market
.
The global demand for energy is increasing
dramatically due to a number of factors such as population growth, accelerated urbanization, and economic growth.
Factors such as increasing population, rising living standards, and better infrastructure in urban areas have led to rapid urbanization
.
This directly boosts industrial activity, which in turn drives demand
for electricity and energy.
As thermal coal is the primary energy source, its demand growth will boost the power coal market during the
forecast period.
However, end-user industries are using low-carbon sources, but this has not slowed the growth of
coal power generation.
In addition, clean coal technologies are increasingly being adopted to ensure low carbon emissions
from thermal coal-based power generation.
This enables end-users to comply with strict government regulations
regarding carbon emissions.
According to Technavio, the growing popularity of clean coal-based power generation will positively impact the market and contribute significantly to
the market growth during the forecast period.
The growing popularity of clean coal-based power generation will be one of the key trends in the
global thermal coal market.
Governments are taking several initiatives to reduce emissions from the power sector, which has greatly contributed to the adoption of
clean coal technologies.
This will drive the growth of the
thermal coal market during the forecast period.
"Aside from the increasing adoption of clean coal power generation, the low cost of using coal for power generation and high reliance on coal-fired power generation are some of the other major factors that will drive the growth of the market during the forecast period," explained
Technavio's senior analyst.
Asia Pacific will continue to dominate the global thermal coal market during the forecast period, owing to the high demand
for thermal coal in Southeast Asian countries.
This is followed by the Middle East, Europe and Africa, and the Americas
.
