Global Metallurgical Coal Market 2019-2023
About this market
Development of smart cities to drive growth in the market. Local officials have continued to experiment with data and technology to improve all aspects of urban life including traffic, power usage, pollution, income, fires, and parking. The development of these facilities are the necessary steps to move toward smart cities. Technavio’s analysts have predicted that the metallurgical coal market will register a CAGR of more than 2% by 2023.
Growing demand for steel
The use of steel is a crucial measure for the economic growth of all countries. China and India are the chief crude steel manufacturers in the world. Rapid revolution of infrastructure and the economy of China are driving the steel market. Therefore, favorable global economic momentum will increase the demand for steel, which will drive the market.
Declining investments in coal industry
The global coal production is decreasing due to factors such as the implementation of stringent government regulations in Asia and Europe due to concerns about the climate. The decreasing investment will negatively affect the growth of the market.
For the detailed list of factors that will drive and challenge the growth of the metallurgical coal market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies including Arch Coal and BHP the competitive environment is quite intense. Factors such as the rising demand for steel and the development of smart cities, will provide considerable growth opportunities to metallurgical coal manufactures. Anglo American, Arch Coal, BHP, Coronado Global Resources, and Teck Resources are some of the major companies covered in this report.
Technavio Announces the Publication of its Research Report – Global Metallurgical Coal Market 2019-2023
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the development of smart cities.”
According to the report, one of the major drivers for this market is the rising demand for steel.
Further, the report states that one of the major factors hindering the growth of this market is the declining investments in coal industry.
Coronado Global Resources
and Teck Resources
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