Global Fossil Fuel Electricity Market Report 2021 – Impact and Recovery of COVID-19
The Business Research Company’s Global Fossil Fuel Electricity Market Report 2021 – Impact and Recovery of COVID-19
LONDON, GREATER LONDON, UK, September 23, 2021 /EINPresswire.com/ – According to new market research report ‘Fossil Fuel Electricity Global Market Report 2021: COVID-19 Impact And Recovery’ released by The Business Research Company The fuel-based electricity market is expected to grow from $ 799.94 billion in 2020 to $ 833.71 billion in 2021 at a compound annual growth rate (CAGR) of 4.2%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities which resulted in operational challenges. The market is expected to reach $ 1058.07 billion in 2025 at a CAGR of 6%. Growing demand for electricity is expected to be a key driver of the fossil fuel power generation market during the forecast period.
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The market for the generation of electricity from fossil fuels comprises the sales of electricity from fossil fuels and related services that convert fossil fuels into electrical energy and operate power generation facilities. The fossil fuel electricity generation industry includes establishments that generate electricity using fossil fuels such as coal, oil, and natural gas as energy sources. Fossil fuels are buried combustible geological deposits of organic material, formed from decaying plants and animals that have been converted to crude oil, coal, natural gas, or heavy oils by exposure to heat and pressure from the environment. Earth’s crust.
Global market trends for electricity from fossil fuels
Governments around the world are increasingly supporting the adoption of carbon capture and storage (CCS) technology in all sectors, including power generation. CCS prevents up to 90% of carbon dioxide emissions produced by the combustion of fossil fuels from entering the atmosphere. In CCS, carbon dioxide is first isolated from the gases produced during the production of electricity. It is then transported for safe storage. The ADM Illinois Industrial Carbon Capture & Storage (ICCS) project, for example, isolates carbon dioxide from an ethanol manufacturing plant and stores it in a nearby deep salt formation, storing about 1.1 million tonnes of carbon dioxide per year.
Global fossil fuel-based electricity market segments:
The global fossil fuel market is further segmented on the basis of fuel type, end user, and geography.
By fuel type: coal, petroleum, natural gas
By end user: residential, commercial, industrial
By Geography: The global fossil fuel electricity market is segmented into North America, South America, Asia Pacific, Eastern Europe, Western Europe, Middle East and in Africa.
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The Global Fossil Fuel Electricity Market 2021 report is part of a series of new reports from The Business Research Company that provides overviews, analysis and forecasts of the fossil fueled electricity market, market size and growth for global fossil fuel electricity market, fossil fuel electricity market share, fuels electricity market players, market segments and geographies Fossil Fuel Electricity, revenues, profiles and market shares of the main competitors in the fossil fuel electricity market. The Fossil Fuel Electricity Market report identifies key countries and segments for opportunities and strategies based on market trends and approaches of key competitors.
Read The Business Research Company’s 2021 Global Fossil Fuel Electricity Market Report for insights into the following:
Data segments: market size, global, by region and by country; Historical and forecast size, and growth rate for the world, 7 regions and 12 countries
Covered Fossil Fuel Electricity Market Organizations: Iberdrola, SA, Huaneng Power International, Inc, Engie SA, Enel SpA, State Power Investment Corporation Limited, AGL Energy Limited, Origin Energy Limited, Energy Australia Holdings Limited, Stanwell Corporation Limited and American Electric Power.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, United States, South America, Middle East and Africa.
Country: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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The Business Research Company has published over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The reports are backed by 150,000 datasets, in-depth secondary research, and proprietary information from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 in various markets.
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