Global Coal Mining Industry 2018-2022 | Usage of Liquid Form of Coal as Fuel and Electricity to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Dec 3, 2019--
The global coal mining industry is expected to post a CAGR of almost 2% during the period 2018-2022, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global coal mining industry 2018-2022. (Graphic: Business Wire)
Currently, the reduction of costs, energy consumption, and emission of carbon dioxide are the top priorities of countries globally. The generation of electricity involves both carbon dioxide emission and consumption of enormous amounts of energy. With the use of better electricity generation technology, carbon dioxide emission is expected to reduce and simultaneously save on energy. The electrical power generation industry is the major end-user of coal. Subcritical boiler technology, which is a key technology used in coal-fired power fleet plants, has better efficiency in reducing carbon emissions and is used by plants globally. This is one of the commonly used technologies due to its low cost and easy installation. Moreover, these technologies use coal to reduce emissions, which in turn, boosts the global coal mining industry growth during the forecast period.
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As per Technavio, the usage of liquid form of coal as fuel and electricity, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2018-2022.
Global Coal Mining Market: Usage of Liquid Form of Coal as Fuel and Electricity
The growing transportation sector is fueling the global demand for energy. Coal-derived fuels and coal-based electricity is expected to play a substantial role in supporting these needs. The ability of coal being transformed into different states such as gases and liquids will enable it to be used as fuels or processed into chemicals to make other products. These gases or liquids are often called synthetic fuels or synfuels. Liquid fuel, which is derived from coal, can act as an alternative to the conventional oil products whose prices are increasing significantly and produce fewer air pollutants when burned than burning coal directly. They do not contain sulfur and have low levels of oxides of nitrogen. Countries such as China are developing several coal-to-liquids (CTL) demonstration plants. These factors will propel the global coal mining industry growth during the forecast period.
“The advantages of using coal combustion products and the use of data-driven insights about coal mining to achieve operational excellence are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Coal Mining Market: Segmentation Analysis
This market research report segments the global coal mining industry by end-user (thermal power generation, steel manufacturing, cement manufacturing, and other industries) and geographical regions (China, the US, India, and ROW).
China led the market share in 2017, followed by the US, India, and ROW respectively. During the forecast period, China is expected to maintain its dominance over the global market.
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Some of the key topics covered in the report include:
Five Forces Analysis
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INDUSTRY KEYWORD: NATURAL RESOURCES ALTERNATIVE ENERGY ENERGY ENVIRONMENT MINING/MINERALS
SOURCE: Technavio Research
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PUB: 12/03/2019 01:30 PM/DISC: 12/03/2019 01:30 PM