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The coal mining market size is estimated to grow at a CAGR of 2.62% between 2022 and 2027. The market size is forecast to increase by USD 82.39 billion. The growth of the market depends on several factors such as better electricity generation technology, the use of mine planning software in the coal sector, and robotics and driverless technology driving the growth of the mining industry.
This coal mining market report extensively covers market segmentation by method (underground mining and surface mining), end-user (thermal power generation, cement manufacturing, steel manufacturing, and manufacturing plants and others), and geography (APAC, South America, North America, Middle East and Africa, and Europe). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Robotics and driverless technology are the key drivers shaping the coal mining market growth. There is increasing adoption of self-driving trucks, automated loaders, and automated drilling and tunnel-boring systems in the industry with the advancement of new technologies. This technology is expected to replace manual laborers at mining facilities. Several governments across the world are enforcing strict regulations considering the safety and health of workers at mining facilities.
Therefore, the increasing integration of automation will help in minimizing the worker's exposure to harmful emissions, which in turn is expected to ease the regulatory control on the industry and enhance the market condition for coal. Additionally, the final price of coal is expected to be lower due to a significant reduction in human capital. Hence, such factors are expected to drive market growth during the forecast period.
A key factor shaping the coal mining market growth is the advantages of using byproducts of coal combustion. The byproducts that are generated from burning coal in coal-fired power plants are known as coal combustion products (CCPs). fly ash, bottom ash, boiler slag, flue gas desulphurization gypsum, and other materials such as fluidized bed combustion ash, cenospheres, and scrubber residues are some of the key coal combustion products (CCPs).
Furthermore, the main application of fly ash is that it is utilized as a supplement cement in concrete. One of the key advantages of fly ash is that produces strong and durable, corrosion-resistant, and chemical-resistant concrete as well as reduces the emission of GHGs when compared to traditional cement. Hence, such benefits and applications are expected to drive market growth during the forecast period.
The rise adoption of renewable energy sources is hindering the market growth. There is an increasing shift towards the use of renewable sources of energy across the world. This rising competitiveness of renewable energy, including wind, solar, hydro, nuclear, and biomass, is expected to decline coal investments. Some of the main factors for increasing the adoption of renewable energy sources is due to rising concerns about climate change, the environment, and health impacts.
Furthermore, as per IEA, renewable energy capacity is expected to increase by 50% during the forecast period. The rise in capacity can be attributed to solar photovoltaics (PVs), followed by wind energy, bioenergy, and hydropower. Thus the rising shift by countries towards renewable sources of energy to reduce greenhouse gas (GHG) emissions and increasing global renewable capacity is expected to hinder the market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Coal Mining Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Alpha Metallurgical Resources Inc: The company offers coal mining operations such as underground and surface mining.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The underground mining segment is estimated to witness significant growth during the forecast period. The extraction of coal from beneath the Earth's surface using underground mining methods is termed underground mining. This method is widely used when coal reserves are located at significant depths under the Earth's surface or when environmental and geological conditions are favoring underground coal extraction. This method comprises building shafts and tunnels that are vertical or at an incline to access coal seams, which are difficult to be extracted using surface mining methods.
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The underground mining segment was the largest segment and was valued at USD 421.84 billion in 2017. There is an increasing preference for underground mining due to safety and environmental reasons. Furthermore, underground mining can help limit environmental concerns related to surface coal mining, such as deforestation and habitat destruction. It reduces surface disturbances minimizes the risk of accidents related to surface mining activities, and prevents the destruction of the landscape on the surface. Additionally, underground mining is an ideal option for regions with complex geological structures or challenging topography. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the growth of the coal mining market during the forecast period.
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APAC is estimated to contribute 86% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Some of the key countries dominating the global coal mining market include countries like India and China. Additionally, Indonesia and Australia are leading coal producers exporting a significant a major portion across the globe. In addition, there is an increasing demand for energy in the region due to rapid economic growth and industrialization.
Furthermore, there is an increasing demand for coal across the globe in order to meet the growing electricity needs of industries and households. Hence the rising demand for reliable and affordable electricity to support economic development in APAC resulted in the regular use of coal-fired power plants. Hence, the growth of the population in the region has led to rising energy consumption which in turn has resulted in fuelling the demand for coal. Hence, such factors are expected to drive market growth in the region during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global coal mining market witnessed a significant slowdown due to restrictions on movement and the temporary closure of steel manufacturing and cement manufacturing in the APAC region. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the resumption of operations in coal mining facilities and other industries. Such factors are expected to drive the market during the forecast period.
The coal mining market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Coal Mining Market Scope |
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Report Coverage |
Details |
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Page number |
169 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 2.62% |
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Market growth 2023-2027 |
USD 82.39 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
2.45 |
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Regional analysis |
APAC, South America, North America, Middle East and Africa, and Europe |
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Performing market contribution |
APAC at 86% |
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Key countries |
US, China, India, Indonesia, and Australia |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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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. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Method
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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