NEW
YORK, Aug. 12, 2024 /PRNewswire/ -- The global
coal mining market size is estimated to grow by USD 66.7 billion from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of
over 2.09% during the forecast period. Better
electricity generation technology is driving market
growth, with a trend towards usage of liquid form of coal
as fuel and for electricity generation. However, rise adoption
of renewable energy sources poses a challenge. Key market
players include Adani Group, Alpha Metallurgical Resources Inc.,
Anglo American plc, Arch Resources
Inc., BHP Group plc, CEF Group, CEZ a. S, CHN ENERGY Investment
Group Co. Ltd., Coal India Ltd., Coronado Global Resources Inc.,
Glencore Plc, Joint Stock Co. Siberian Coal Energy Co., NACCO
Industries Inc., NTPC Ltd., Peabody Energy Corp., PT Adaro Energy
Tbk, Sasol Ltd., Shaanxi Coal and Chemical Industry Group Co. Ltd.,
and Teck Resources Ltd..
Get a detailed analysis on regions, market segments, customer
landscape, and companies- View the snapshot of this
report
Coal Mining Market
Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
2.09%
|
Market growth
2024-2028
|
USD 66.7
billion
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
2.02
|
Regional
analysis
|
APAC, South America,
North America, Middle East and Africa, and Europe
|
Performing market
contribution
|
APAC at 81%
|
Key
countries
|
China, India, US,
Indonesia, and Australia
|
Key companies
profiled
|
Adani Group, Alpha
Metallurgical Resources Inc., Anglo American plc, Arch Resources
Inc., BHP Group plc, CEF Group, CEZ a. S, CHN ENERGY Investment
Group Co. Ltd., Coal India Ltd., Coronado Global Resources Inc.,
Glencore Plc, Joint Stock Co. Siberian Coal Energy Co., NACCO
Industries Inc., NTPC Ltd., Peabody Energy Corp., PT Adaro Energy
Tbk, Sasol Ltd., Shaanxi Coal and Chemical Industry Group Co. Ltd.,
and Teck Resources Ltd.
|
Market Driver
The coal mining market is expected to experience growth due to
the increasing global demand for energy, particularly in the
transportation sector. Coal-derived fuels and coal-based
electricity can contribute significantly to meeting this demand.
Coal can be converted into synthetic fuels such as liquids and
gases, providing alternatives to conventional oil products with
increasing prices. These synthetic fuels produce fewer air
pollutants and are sulfur-free, making them environmentally
friendly. re key factors driving the growth of the global coal
mining market.
The Coal mining market continues to play a significant role in
the Energy sector, supplying coal for Power generation and Steel
production. Coal remains a popular Fluid fuel for Thermal power
stations and Steel manufacturing. However, concerns over
Environmental pollution from mining activities and Air Pollution
from Coal-fired Power Plants are driving the need for Mining
technology advancements and supportive Government Policies
promoting Renewable Energy Generation. Mining techniques include
Surface mining (Strip mining, Auger mining, Open-pit mining,
Mountain removal mining) and Underground mining (Longwall
mining).
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Market Challenges
- The global coal mining market is anticipated to face challenges
due to the rising preference for renewable energy sources. With an
increasing number of countries shifting towards renewable energy,
the competitiveness of these sources is expected to negatively
impact coal investments. Renewable energy capacity is projected to
increase by 50% during the forecast period, primarily driven by
solar photovoltaics (PVs) and wind energy. The offshore wind
energy capacity is expected to triple by the end of 2024, with
significant developments in the European Union, China, and the US. This growing demand for
renewable energy, fueled by concerns over climate change, the
environment, and health impacts, is expected to hamper the growth
of the coal mining market.
- The coal mining market faces several challenges. Mountain
removal mining and longwall mining techniques have environmental
concerns, including the destruction of landscapes and potential
hazards to workers. Thermal power generation and cement
manufacturing heavily rely on coal, contributing to high carbon
emissions and air pollution, leading to health disorders. Undersea
mining and generating heat energy from coal are emerging but face
technical and regulatory hurdles. Coke production for steel and
coking feedstock for chemical industries require specific types of
coal. Thermal coal and coking coal have different uses and demand
levels. Electricity demand remains strong, but supportive
government policies and renewable energy generation from sources
like solar power and hydrogen are increasing competition.
Transport, residential, commercial, and public services sectors
consume coal-fired power, but coal-fired power plants face
increasing scrutiny due to carbon emissions.
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challenges - Request a sample report!
Segment Overview
This coal mining market report extensively covers market
segmentation by
- Method
- 1.1 Underground mining
- 1.2 Surface mining
- End-user
- 2.1 Thermal power generation
- 2.2 Cement manufacturing
- 2.3 Steel manufacturing
- 2.4 Manufacturing plants and others
- Geography
- 3.1 APAC
- 3.2 South America
- 3.3 North America
- 3.4 Middle East and
Africa
- 3.5 Europe
1.1 Underground mining- The coal mining market
experiences consistent growth due to the high demand for coal as a
primary energy source. Coal is used extensively in power generation
and industrial processes. Major players in the market include
companies like Peabody Energy, Arch Coal, and Coal India. These
companies focus on increasing production efficiency and
implementing safety measures to meet the rising demand. The market
faces challenges such as environmental regulations and competition
from renewable energy sources. However, the demand for coal remains
strong, ensuring a stable market for coal mining companies.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
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reports
The Global Cryptocurrency Mining Hardware Market is
witnessing significant growth, driven by the increasing adoption of
cryptocurrencies like Bitcoin and
Ethereum. Advanced mining rigs, including ASICs and
GPUs, are in high demand as miners seek higher efficiency and
profitability. Meanwhile, the Global Gear Pump Market is expanding
due to rising applications in industries such as automotive, oil
and gas, and chemicals. Gear pumps are valued for their reliability
and precision in fluid transfer, making them essential in various
industrial processes. Both markets are expected to experience
robust growth in the coming years.
Research Analysis
Coal is a significant source of energy and plays a crucial role
in power generation and steel production. Coal-fired power plants
and thermal power stations are the primary consumers of coal,
generating heat energy that powers electricity generation for
various sectors such as transport, residential, commercial, and
public services. Coal is also used as a fluid fuel in steel
manufacturing, producing coke as a byproduct which serves as a
crucial coking feedstock. However, coal mining activities
contribute to environmental pollution, raising concerns about their
impact on the environment.
Market Research Overview
Coal is a significant source of energy and plays a crucial role
in power generation and steel production. Coal mining is the
process of extracting this fossil fuel from the ground. Mining
activities include surface mining, such as strip mining and
open-pit mining, and underground mining, including longwall mining
and auger mining. Coal is used as a fluid fuel in power generation,
thermal power stations, and cement manufacturing, as well as in the
production of coke and coking feedstock for steel manufacturing.
Mining technology continues to evolve, with advancements in mining
methods and equipment. Thermal coal and coking coal are the two
main types of coal used, with thermal coal primarily used for power
generation and coking coal used for steel production.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Method
-
- Underground Mining
- Surface Mining
- End-user
-
- Thermal Power Generation
- Cement Manufacturing
- Steel Manufacturing
- Manufacturing Plants And Others
- Geography
-
- APAC
- South America
- North America
- Middle East And Africa
- Europe
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
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and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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