Coal has been an essential source of energy for several decades. Currently, coal is frequently used to generate electricity, cement manufacturing, steel production, and as a liquid fuel. Steam coal, which is also known as thermal coal, is mainly used for power generation. As per a report by the World Coal Association, which is an industry body incorporating coal producers and coal stakeholders, the mining of hard coal across the world has been estimated at 6185 million tons until January 2015. With constantly mounting world population, the demand for coal is escalating and as a result, the market for coal mining is expected to expand at a healthy CAGR during the forecast period of 2016 to 2024.
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This report on global coal mining market is a comprehensive study, which has been developed to serve as an aid for the players in making more informed choices. The report contains in-depth analysis of all the factors that are expected to influence the market during the forecast period, favorably or negatively, and also profiles some of the key companies currently active, for their market share, capacity, and margin. The report also segments the global coal mining market on the basis of type of coal, type of mining, and geography. By type of coal, the market has been divided into anthracite coal, bituminous coal, and coking coal or hard coal. Coking coal is more suitable for power generation, and now is being widely used in steel production. On the other hand, brown coal is a combination of sub-bituminous and lignite coal, and is more preferred on-site fuel. Depending on numerous mining methods, the report studies the segments of underground mining and surface mining, which is also known as opencast mining. Geographically, the report segments the market into the regions of North America, Europe, Asia Pacific, and rest of the world. The revenue available and growth rate for each of these regions has been provided in the report.
Global Coal Mining Market: Trends and Opportunities
Besides growing population, which requires coal for various purposes, the report credits electricity generation as the most important use of coal across the globe. This is owing to its relatively easy accessibility, affordability, and distribution. Following the recession, the global thermal and metallurgical coal prices recovered rapidly due to the demand for electricity generation, especially in the developing economies. Conversely, environmental concerns surrounding coal-generated power is the primary factor that may hinder the growth rate during the forecast period. Through to 2024, demand for coal is expected to be moderate, gaining from developing nations who continue to expand their infrastructures to supply populations with reliable and affordable electricity.
Global Coal Mining Market: Region-wise Outlook
The report credits Asia Pacific as the most lucrative market for coal mining. Developing countries such as India and China are home for a significant chunk of population and heavily depend on coal for energy and other purposes. Australia is one of the premier producer of coal and mining industry is thriving in the country. Europe currently accounts for the second most bankable regional market for coal mining, although developed nations in North America have shifted to other sources of energy over the past decade and hence, the demand is expected to remain modetate.
Companies mentioned in the research report
Arch Coal Inc., CONSOL Energy Inc., Cloud Peak Energy, Coal India Limited, and Peabody Energy Corporation are identified the the report as some of the most prominent companies currently operational in global coal mining market. Most of these companies are multinational corporations with a strong global presence, negating the opportunities for newer players.
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