Fossil fuel power plants burn coal or oil to create heat which is in turn used to generate steam to drive turbines which generate electricity. Fossil fuels are the largest sources of energy for electricity generation. The main types of fuel in fossil fuel electric power generation are coal, oil and natural gas. Governments globally are increasingly supporting the adoption of carbon capture and storage (CCS) technology across industries including power generation. Regulatory bodies are enforcing stringent regulations on thermal power generation to control harmful effects on the environment. Regulations such as these are expected to increase the costs of procuring cheaper fossil fuel-based power, acting as a restraint on the fossil fuel electricity market.
MARKET SCOPE
The "Global Fossil Fuel Electricity Market Analysis to 2028" is a specialized and in-depth study of the energy demand with a special focus on the global market trend analysis. The report aims to provide an overview of the fossil fuel electricity market with detailed market segmentation by fuel type, end-user, and geography. The report provides key statistics on the market status of the leading fossil fuel electricity market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- On the basis of fuel type the market is segmented into coal, oil and natural gas
- On the basis end-user, the market is segmented as residential, industrial, and commercial
MARKET DYNAMICS
Drivers:
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o Increasingly support from government increases the adoption of carbon capture and storage (CCS) technology which helps drive the market growth
o Growing power consumption propels the market outlook
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o Stringent emission regulations restraints the market growth
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America (SAM). The fossil fuel electricity market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five region, evaluating political, economic, social and technological factors affecting the fossil fuel electricity market in these regions.
IMPACT OF COVID-19 ON FOSSIL FUEL ELECTRICITY MARKET
The emergence of the COVID-19 has severely impacted the power generation industry, which resulted decline in the green power market in the year 2020. The outbreak of the pandemic led to demand-supply gap, shutdown of several manufacturing industries across the globe, which in turn, caused disruptions in raw material procurement and further led to price volatility. The withdrawal of upcoming investments and hold on for ongoing power projects has directly influenced the market growth. In addition, governments across the world were compelled to reduce the business activities in response to minimize the threat of coronavirus. Owing the decline in the business activities has further negatively impacted power demand across various industries. The limited availability of manpower and raw material due to the pandemic is a major problem that affects the market growth. Furthermore, delays and cancellation of orders has affected the market dynamics over the pandemic recovery period. Hence, from 2021, the ease in restriction and opening of various industries have fueled the market growth over the projected period.
MARKET PLAYERS
The report covers key developments in the fossil fuel electricity market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as advancement in products, reallocation of resources and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players in the fossil fuel electricity market are anticipated to provide lucrative growth opportunities in the future owing growing power demand from consumers.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the fossil fuel electricity market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Huaneng Power International,Inc.
- ENGIE SA
- Enel Spa
- Origin Energy Limited
- Stanwell Corporation Limited.
- Duke Energy Corporation
- Tokyo Electric Power Company Holdings, Inc.
- NTPC Ltd.
- Uniper SE
- CHN ENERGY Investment Group Co.,LTD