Report Predicts Coal Demand by Power Sector to Grow 10 percent in India
Released on: April 18, 2008, 4:48 am
Press Release Author: Shushmul Maheshwari
Industry: Energy
Press Release Summary: The rising energy requirement in India will propel the country’s power industry to see a projected 10% growth in coal demand by 2012, says RNCOS report.
Press Release Body: According to new report, “Indian Coal Industry Outlook till 2012”, prepared by RNCOS, a leading market research firm, it is projected that coal demand for power sector will grow at a CAGR of nearly 10% during 2008-2012. Indian power sector heavily rely on thermal power stations for power generation, which are creating demand for coal in high quantity in the country.
In its 11th Five Year Plan, the Indian government has decided to increase per capita availability of power to over 1,000 units by 2012 that needs massive generation of power from various sources, including thermal power stations. To meet this target, both central and state governments depend upon the power produced from thermal stations. So the Indian government has framed an ambitious mission, “Power for All by 2012”, that would need installation of additional thermal power plants to generate 2,00,000 MW electricity, thereby boosting the demand for coal in the country.
According to a Senior Research Analyst at RNCOS, the Indian economy is expected to grow at the rate of more than 8% annually, which leads to high energy demand in coming years. Consequently, the Indian coal industry has good prospects for growth in future in all its segments including coking coal, and non-coking coal.
However, depleting non-renewable energy resources and rising environmental concerns are turning the interest of power sector away from coal. Therefore, the Indian government is focusing on utilization of renewable energy sources to generate electricity and to reduce the dependence of power sector on coal. For this, the government has already launched several programs, such as Green Initiative for Power Generation and Remote Village Electrification, says the RNCOS research.
Other than power, “Indian Coal Industry Outlook till 2012” has given in-depth analysis of rising demand for coal in steel, chemical, and fertilizer industries. It has provided extensive research and objective analysis on the fourth largest coal base in the world with focus on the driving forces, past and current market trends, future prospects, and challenges for the industry.
About RNCOS:
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today\'s globally competitive environment.
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