Rise in Electricity Generation, Followed by Increase in Mining Techniques is Set to Drive Global Coal Mining Market over the Forecast Period: Ken Research
Coal mining is a process of extracting coal from the ground. Coal is an essential source of energy. It is often used to generate electricity, steel production, cement manufacturing, and as a liquid fuel. Steam coal, which is also recognized as thermal coal, is mainly used for power generation. Coal is categorized based on the contents of carbon (energy & moisture).
According to study, “Coal Mining Global Market Report 2019” the key companies operating in the global coal mining market are Coal India Limited, China Coal Energy Co Ltd., Rio Tinto Group, BHP Billiton Ltd, Vale SA, ShenHua Group, China Coal Energy Co. Ltd., Cloud Peak Energy, Peabody Energy Corp., Arch Coal Inc., RWE AG, Anglo American Plc., Consol Energy Inc., Jindal Steel and Power, Mitsubishi Corp., Alpha Natural Resources, Arcelor Mittal, Aurizon Holdings Ltd., Yanzhou Coal Mining Company Ltd, Siberian Coal Energy Co., Singareni Collieries Co. Ltd., Glencore Plc., Freeport-McMoRan Inc., Fortescue Metals Group, Altona Energy Plc, Melior Resources Inc., SouthGobi Resources Limited, Blackham Resources Limited, Shanxi Coal, Pacific Coal Resources Ltd., UK Coal Plc, Teck Resources Limited, Macarthur Coal Limited, Patriot Coal Corporation, ConocoPhillips, Sasol Limited, TECO Energy, Alpha Natural Resources, Xstrata Plc, Foundation Coal Corporation, Western Coal Corporation.
Based on type of coal, global coal mining market is segmented into anthracite coal, coking coal or hard coal and bituminous coal. Coking coal is suitable for power generation and widely used in steel production. Based on mining method, market is segmented into surface mining, undersea mining and underground mining. Surface mining is further sub-segmented into strip mining, open-pit mining, auger mining, and mountain removal mining. Underground mining is further sub-segmented into room & pillar mining, continuous mining, blast mining, long-wall & short-wall mining and retreat mining. Based on product services, market is segmented into drilling services, exploration services, draining services and others. Based on equipment, market is segmented into dozers & scrapers, shovels & trucks, drilling & blasting, wheel excavators, draglines and reclamation equipment. Additionally, based on end-use, market is segmented into thermal power generation, cement manufacturing, steel manufacturing, and others. Thermal power sector is estimated to lead the market due to exclusive use for power generation across the world.
The coal mining market is driven by rise in electricity generation, followed by increase in mining techniques, rise in demand of coal for various purposes, improvement in coal (cleaning, screening, washing, and sizing of coal) and development of coalmine sites. However, stringent government policies, uncertainty in the demand & price of coal and illegal possession & fraud may impact the market.
Nowadays, coal mining companies are using 3D mine visualizers to attain a real-time digital model of a mine. A 3D mine visualizer creates a three-dimensional model of the mine layout & transfers it directly to the operator as well as enhance the productivity of large mining environments.
Based on geography, the Asian-Pacific region holds major share in coal mining market owing to owing to heavy dependence on coal energy and presence of significant population in the region. North-American region is expected to witness higher growth rate due to rise in sources of energy over the forecast period.
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Ankur Gupta, Head Marketing & Communications