Global Coal Mining Market Forecasted To Grow Steadily At A Rate Of 2% By 2019: Radiant Insights
Overview of the coal mining industry
Technavios research analyst predicts the global coal mining industry to grow steadily at a rate of 2%, in terms of consumption, during the forecast period. The coal consumption in China is expected to account for three-fifth of demand during the forecast period. The global demand for high-quality coal is the primary driver for this industry. The coal quality is dependent on calorific value as well as its sulphur and ash content. When the calorific value is high, a lesser quantity of coal is required to generate energy, resulting in less global CO2 emissions per unit of coal.
However, the environmental impact of the production and consumption of coal is expected to deter the market growth during the forecast period. The most significant impact is acid mine drainage, where acid run-off is formed through a chemical reaction between sulfur-bearing rocks and water, and contaminates river water.
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Segmentation by mining technology and analysis of the coal mining industry
Surface mining is further classified as strip mining, auger mining, open-pit mining, and mountain removal mining. Underground mining is further classified as room and pillar and longwall mining.
Segmentation by end user and analysis of the coal mining industry
Thermal power generation
The thermal power segment accounted for 62% of the market share during 2014 and is predicted to dominate the end user market until the end of 2019. As coal is used as a primary fuel resource globally for power generation, its demand in the thermal power generation market is expected to grow during the forecast period.
Segmentation by type and analysis of the coal mining industry
The bituminous segment accounted for 52% of the coal mining market during 2014. It is mostly found in the US and accounts for more than 50% of the reserve in the region. It is most commonly used in electric power generation in the US. It has a higher heating value compared ton lignite and sub-bituminous coal, but lesser than anthracite.
Geographical segmentation and analysis of the global coal mining industry
Technavios analysts expect China to dominate the global coal mining industry with a market share of around 48% during the forecast period. The transformation of China from an investment-led to a consumption-driven economy is driving the growth of the coal mining industry in this region. The Chinese market is expected to witness export of steel manufacturing materials like metallurgical coal and iron ore during the forecast period.
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