Coal Mining Market size is set to grow by USD 66.7 billion from 2024-2028, Better electricity generation technology boost the market, Technavio

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..

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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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Segment Overview 

This coal mining market report extensively covers market segmentation by  

1. Method 
• 1.1 Underground mining
• 1.2 Surface mining
2. End-user 
• 2.1 Thermal power generation
• 2.2 Cement manufacturing
• 2.3 Steel manufacturing
• 2.4 Manufacturing plants and others
3. 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.

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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

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SOURCE Technavio