“A key factor driving the growth of the market is the rising urbanization. This is due to the rise in population, improved standards of living, and the availability of better infrastructure and facilities in urban areas compared with rural areas. The growth in urban population is driven by emerging economies such as China, India, and Nigeria due to their rapid economic development. With the growth in the urban population, the need for basic facilities such as commercial and residential infrastructures is increasing. Urbanization directly boosts activities in industries such as construction and automotive, thus increasing the demand for power, in turn, propelling the growth of the global coal-fired power generation market during the forecast period.”

Source: Business Wire