Clean Coal Technology Global Market Report 2024

The clean coal technology market size has grown steadily in recent years. It will grow from $3.85 billion in 2023 to $4.04 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. Historical growth was propelled by various factors including government regulations, the increase in global energy demand, concerns about energy security, the availability of coal reserves, and infrastructure development within the energy sector.

The clean coal technology market size is expected to see steady growth in the next few years. It will grow to $4.88 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. Anticipated growth in the upcoming period is linked to the rise in research funding, shifts in global economic trends, adherence to global climate agreements, changes in the energy mix towards renewable sources. Major trends expected in this forecast period encompass advancements in gasification technologies, the development of hybrid technologies, the integration of smart grid systems, and the implementation of digitalization and automation within the energy sector.

The increasing demand for clean energy is anticipated to propel the expansion of the clean coal technology market in the foreseeable future. Clean energy refers to energy generated from renewable, non-emitting sources and energy conserved through energy-saving practices. It finds application in various contexts, serving different purposes such as electricity generation, water heating, and more, depending on the energy source. A key driver behind the escalating need for clean energy is the growing consumption of electricity. This heightened demand is attributed to increased household incomes, the electrification of transportation and heating, and the surging demand for digitally connected devices and air conditioning. For example, in 2023, reports from the Business Council for Sustainable Energy, a U.S.-based clean energy trade association, highlighted significant advancements in renewable energy in the United States. In 2022, renewables accounted for 13% of the total U.S. energy demand, and the combined contribution of renewables and natural gas to total power generation increased from 43% to 62% within a few years. In the same year, the U.S. witnessed the addition of over 25.5 GW of new clean power, constituting nearly 80% of all new capacity. Consequently, the escalating demand for clean energy is steering the growth trajectory of the clean coal technology market.

The escalating costs of energy fuels are poised to stimulate the expansion of the clean coal technology sector moving ahead. Energy fuel pertains to substances utilized in energy production, undergoing conversion for power generation. By presenting a more environmentally friendly substitute to conventional coal, clean coal technologies can play a role in stabilizing the energy market. This, in turn, can mitigate price fluctuations attributed to variables such as erratic global coal prices or geopolitical disturbances. For example, as per the World Bank, an American multinational financial institution, between January 2020 and December 2021, the institution's energy price index surged by 50%, followed by a further 26.3% increase from January to April 2022. These spikes reflect the heightened costs of coal, oil, and natural gas. Notably, between April 2020 and April 2022, nominal crude oil prices surged by 350%, marking the most substantial increase for a comparable two-year duration since the 1970s. Consequently, the upward trajectory of fuel prices is propelling the expansion of the clean coal technology market.

In the burgeoning clean coal technology market, a prominent trend revolves around novel innovations, a focal point for key industry players. These major entities are directing their efforts towards pioneering product advancements to solidify their market standing. Notably, in November 2021, Carbon Clean, a UK-based company specializing in industrial carbon capture solutions, introduced a modular CO2 capture system, CycloneCC. This groundbreaking technology can efficiently capture greenhouse gases at a cost of $30 or less per metric ton, positioning it as an affordable solution.

Prominent players within the clean coal technology sector are engaging in strategic partnerships and collaborations to expand into new markets and capitalize on each other's resources. These alliances aim to generate synergies that expedite progress, mitigate risks, and optimize the efficacy of initiatives in advancing clean coal technologies. As an example, in February 2021, the ASEAN Centre for Energy, an Indonesia-based intergovernmental organization, inked a three-year deal with the World Coal Association, a UK-based Global Alliance for Sustainable Coal, reinforcing their joint dedication to bolstering economic growth in the ASEAN region through the promotion of clean coal technologies. This collaborative effort acknowledges coal's significant role in fostering economic development in ASEAN and seeks to champion the development and application of clean coal technologies for sustainable energy provision in the area.

In February 2022, Babcock & Wilcox Enterprises Inc., a notable American firm specializing in renewable, environmental, and thermal energy technologies, successfully completed the acquisition of Fossil Power Systems Inc. (FPS), the specifics of which remained undisclosed. This strategic move significantly augments Babcock & Wilcox Enterprises Inc.'s portfolio, enabling enhanced exploration of prospects and the provision of more efficient, environmentally sustainable technologies and solutions within their products and services. FPS, a Canadian entity specializing in clean coal technologies, aligns with this objective and further bolsters the acquirer's capabilities in this sector.

Major companies operating in the clean coal technology market report are PetroChina Company Limited, Siemens AG, General Electric Company, China Energy Engineering Corporation, China Shenhua Energy Company Limited, Thyssenkrupp AG, RWE AG, Huaneng Power International Inc., Mitsubishi Heavy Industries Ltd., Toshiba Corporation, NTPC Limited, Sasol Limited, Shanghai Electric Group Company Limited, Doosan Heavy Industries & Construction, Kawasaki Heavy Industries Ltd., Shanxi Coking Coal Group Co.Ltd., Jindal Steel and Power Ltd., Dongfang Electric Corporation, PT Adaro Energy Tbk, Inner Mongolia Yitai Coal Co. Ltd., Sumitomo Heavy Industries Ltd., KBR Inc., Peabody Energy Corp., Acciona Energia India Private Limited, Babcock & Wilcox Enterprises Inc., JSW Energy Limited, Ramaco Resources Inc., White Energy Company Limited, Fuel Tech Inc., Clean Coal Technologies Inc.

Asia-Pacific was the largest region in the clean coal technology market in 2023 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, Africa. The countries covered in the clean coal technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Various clean coal technologies such as fluidized-bed combustion, integrated gasification combined cycle (IGCC), flue gas desulfurization, low nitrogen oxide (NOX) burners, selective catalytic reduction (SCR), and electrostatic precipitators are employed to improve coal burning processes. IGCC involves gasifying finely crushed coal with reduced oxygen levels compared to complete combustion. Combustion types include pulverized coal, supercritical pulverized coal, circulating fluidized bed, and IGCC, utilizing technologies such as supercritical and ultra-supercritical methods, combined heat and power, among others. These technologies use capture methods such as post-combustion, pre-combustion, and oxy-coal combustion. Clean coal technologies find application in various sectors such as the chemical industry, commercial enterprises, pharmaceutical industry, and other end users.

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 clean coal technology market includes revenues earned by entities by gasification technology, combustion technology and enabling technology. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.


The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.