Global Coal Mining Industry 2018-2022
About Coal Mining
Coal mining is a process of extraction of coal from the ground. Coal is the modified remains of ancient vegetation and other rock strata under the effects of pressure and heat. It is combustible, organic and sedimentary rock, which is mostly composed of carbons, oxygen and hydrogen.
Technavio’s analysts forecast the global coal mining industry to grow at a CAGR of close to 2% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global coal mining industry for 2018-2022. To calculate the market size, the report considers the revenue generated from the coal mining.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Coal Mining Industry 2018-2022
Technavio recognizes the following companies as the key players in the global coal mining industry: CIL, Arch Coal, Peabody Energy, Rio Tinto, Anglo American, and BHP
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Usage of liquid form of coal as fuel and electricity. Globally the ownership of motor vehicles is increasing significantly. Coal-derived fuels and coal-based electricity can play a significant role in supporting the growing energy needs of the transportation sector. Coal can be transformed into gases and liquids that can be used as fuels or processed into chemicals to make other products. These gases or liquids are sometimes called synthetic fuels or synfuels.”
According to the report, one of the major drivers for this market is Better electricity generation technology. The major concern for all the countries is to reduce the emission of carbon dioxide and to reduce the energy consumption to reduce the cost. Generation of electricity involves both carbon dioxide emission and consists of the consumption of enormous amounts of energy. The use of better electricity generation technology is expected to reduce the carbon dioxide emission and save on energy. The electrical power generation industry is the major end-user of coal.
Further, the report states that one of the major factors hindering the growth of this market is Uncertainty in the demand and price of coal. The demand and pricing of coal depend on the consumption pattern of coal, which is influenced by many uncontrollable factors, including but not limited to global economic conditions. The demand for electricity and steel, the cost of alternative fuels, the cost of electricity generation from alternative fuels, including wind, solar, oil, hydro, nuclear, natural gas and biomass, and taxes and environmental regulations imposed by various governments.
CIL, Arch Coal, Peabody Energy, Rio Tinto, Anglo American, and BHP
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