Global Coal Mining Market Highlights Over 2022 - 2031
The global coal mining market is estimated to garner notable CAGR over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to an increase in the usage of coal in electricity generation, and steel manufacturing. According to the data published by World Coal Association, 70% of the total steel produced requires coal as a vital ingredient. Steel is one of the essential materials for construction and infrastructural engineering. From making cars, washing machines, refrigerators, and construction products, steel is widely used ubiquitously. Hence, the global coal mining market is expected to grow over the forecast period on the back of increasing demand for steel production. Furthermore, the demand for coal has grown with the increase in the demand for electricity. It is estimated that the world’s electricity consumption had reached approximately 24,000 terawatt-hours in 2019. Coal plays a significant role in the generation of electricity worldwide. The World Coal Association states that the coal-fired plants are fulfilling 37% of the global electricity requirement. The electricity is utilized for heating, cooling, lighting, and operating appliances, such as computers, electronics, and machinery. The global coal mining market is estimated to grow exponentially over the forecast period, on account of the increasing demand for electricity worldwide.
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The market is segmented by application into thermal power generation, steel manufacturing, and cement manufacturing, out of which, the thermal power generation segment is anticipated to hold the notable share in the global coal mining market on account of escalating demand for electricity all over the world. With the growing industrialization, demand for electricity is mushrooming unprecedently, which is the reason the global coal mining market is expected to grow over the forecast period.
Major Macro-Economic Indicators Impacting the Market Growth
In 2019, the world’s total energy supply was 606EJ, wherein the highest share in terms of source was captured by oil, accounting for 30.9%, followed by coal (26.8%), natural gas (23.2%), biofuels and waste (9.4%), nuclear (5.0%), hydro (2.5%), and other (2.2%). Where there was an increase in energy demand in 2018, the year 2019 witnessed slow growth as the energy efficiency improved owing to decline in the demand for cooling and heating. However, in 2020, the electricity demand decreased by 1% due to the outbreak of Coronavirus resulting in government imposed shutdowns in order to limit the spread of the virus, which was further followed by shutdown of numerous business operations impacting their growth. This also resulted in decline of 5.8% in the worldwide CO2 emissions which was recorded to be five times larger than the one recorded during the global financial crisis in 2009. However, in 2021, the demand for oil, gas and coal is estimated to witness growth, which is further projected to create opportunities for market growth. Moreover, rising environment degradation and awareness related to climate change is motivating many key players to employ sustainable energy strategies and invest significantly in environment-friendly power generation technologies with an aim to promote sustainable development among various nations around the world. Such factors are anticipated to promote the growth of the market in upcoming years.
Global Coal Mining Market Regional Synopsis
Regionally, the global coal mining market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in the Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of the presence of the two largest coal-consuming nations which are, China and India. It is estimated that China consumes around 54% and India consumes 12% of the overall coal produced in the world. These nations are developing economies where industrialization is occurring at a rapid rate. Such factors are anticipated to promote the growth of the market in the region.
Furthermore, the global coal mining market in North America region is also estimated to grow remarkably owing to the increased usage of coal in industrial, transportation, commercial, and residential sectors. Furthermore, coal is also required for seamless transportation, and US and Canada are flourishing economies, which is the reason the global coal mining market is estimated to grow over the forecast period.
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The global coal mining market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
Our in-depth analysis of the global coal mining market includes the following segments:
- Bituminous Coal
- Sub-Bituminous Coal
By Mining Technology
- Surface Mining
- Mountain Removal Mining
- Open-Pit Mining
- Thermal Power Generation
- Steel Manufacturing
- Cement Manufacturing
- Increasing Demand for Electricity
- Growing Industrialization across the Globe
- High Use of Coal in Steel Manufacturing
- Increasing Issue of Global Warming
Top Featured Companies Dominating the Market
- CEZ, a.s.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Teck Resources Limited
- Sasol Limited
- Shaanxi Coal and Chemical Industry Group Co. Ltd.
- Anglo American plc.
- Rio Tinto Groupe
- China Shenhua Energy Company Limited
- BHP Group Limited
- Tokyo Electric Power Company Holdings, Inc
- Yancoal Australia Limited