Comprehensive Coal Mining Support Activities Market Analysis 2023: Size, Share, And Key Trends
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
As per The Business Research Company’s Coal Mining Support Activities Global Market Report 2023, the coal mining support activities market is expected to show significant growth in the forecast period.
Key insights from the coal mining support activities market forecast include:
- Market Size
The worldwide market for coal mining support activities will increase from $69.7 billion in 2022 to $74.64 billion in 2023, with a 7.1% CAGR. By 2027, it is projected to reach $98.68 billion, growing at a 7.2% CAGR.
- Major Driver
Growing coal usage in power generation, especially in some nations, is poised to boost the coal market. These countries might commission over 65 coal-fired power plants by 2025, adding 50 GW of capacity. Vietnam, the Philippines, and Malaysia are also set for substantial coal consumption growth. Meanwhile, China, India, and Indonesia, major coal-dependent electricity producers, plan to decrease coal’s share in their power mix, albeit not below 35%, due to ample domestic coal reserves and economic viability. This global demand for coal in power generation, coupled with its increased role in certain countries, will propel the coal market ahead.
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- Key Trend
Coal mining firms employ 3D mine visualizers to create real-time digital mine models. These tools generate a 3D mine layout, directly accessible to operators via a web-based interface on any device. They provide comprehensive 3D record and playback functions, enabling historical data review for productivity improvement and best practice identification. 3D mine visualizers greatly boost productivity in extensive mining environments and aid in operations planning, problem analysis, and tracking mine progress. Sandvik and Komatsu are among the companies offering these systems.
- Major Players
Major players in the coal mining support activities market are China Shenhua Energy Company Limited, Glencore International, China Coal Energy Company Limited, Coal India Ltd., Shaanxi Coal Industry Company Limited, Yanzhou Coal Mining Co Ltd., BHP Group, Coal & Allied Industries, Anglo American plc and Yangquan Coal Industry Group.
- Top Market Segments
The global coal mining support activities market is segmented –
1) By Type: Coal Mining Drilling Services, Coal Mining Exploration Services, Coal Mining Draining Services, Other Coal Mining Support Activities
2) By Process: Underground, Opencast
3) By Service Provider Type: Independent Contractors, Companies
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The Coal Mining Support Activities Global Market Report 2023 provides an in-depth analysis on the coal mining support activities market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the coal mining support activities market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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