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Fossil Fuel New Energy Generation Market Size
Fossil Fuel New Energy Generation Market was valued at over USD 340.5 billion in 2023 and is anticipated to grow a CAGR of 12% from 2024 to 2032. Rising energy demand across various sectors along with strategic partnerships and increased investments for energy generation are shaping the industry dynamics.
Accelerating collaborations by technology firms, to accelerate low-carbon technology development and stringent environmental norms toward emission reduction will complement the industry landscape. For instance, In April 2024, the U.S. Environmental Protection Agency unveiled regulations targeting pollution from fossil fuel-fired power plants, impacting both existing coal plants and newly established natural gas facilities.
Why is the use of coal new energy generation rising?
The coal segment in the fossil fuel new energy generation market is set to reach USD 510 billion by 2032, on account of abundant availability of coal reserves across several regions and rising energy demands.
How big is the fossil fuel new energy generation market?
The market size of fossil fuel new energy generation was worth about USD 340.5 billion in 2023 and is anticipated to register 12% CAGR between 2024 and 2032, due to rising energy demand across various sectors.
Why is the fossil fuel new energy generation industry booming in Asia Pacific?
Asia Pacific fossil fuel new energy generation market is likely to exceed USD 550 billion by 2032, driven by rising energy demand across several industrial processes and robust industrial investments.
Who are the major fossil fuel new energy generation industry players?
ArcelorMittal, AtkinsR