The global demand for Thermal Coal Market is presumed to reach the valuation of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% during the period of 2022-2028. Whereas with regards to volume, the market was calculated XX Tons in 2021 and foreseen to touch XX Tons by 2028 with a CAGR of XX% during 2022-2028.
Thermal coal is a special class of coal used in the generation of power and is also called steam coal. This bituminous variety of coal is sometimes called boiler coal because of its extensive use in boilers and furnaces. In boilers and furnaces, it is used to produce steam that aids in the generation of electricity. This highly heterogeneous material is used in the iron making process and in various industries which are large consumers of electric power like cement, chemical, paper and masonry. The quality of thermal coal and its properties has a great bearing on the efficiency and reliability of a furnace and implicitly affects the costs involved in operating the furnace, waste disposal and pollution control. Thermal coal is not an environment-friendly option due to the emission of pollutants.
Increasing population and rising demands for electric energy will be major drivers for the growth of this market. Rapid urbanisation and the growing number of industries leading to increased construction activities will enhance the growth of this market. Electric energy has been a ubiquitous source of power and the demand for thermal coal is expected to grow at an alarming rate until alternative energy solutions based on renewables become a norm. The thermal coal market is experiencing a squeeze during the COVID-19 pandemic due to reduced production and the inability to meet the demands of the global market. The major challenge faced by the thermal coal market is its effect on the environment and global warming.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of thermal coal.
The entire thermal coal market has been sub-categorized into application. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
- Power Generation
- Cement Production
This section covers regional segmentation which accentuates on current and future demand for thermal coal market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Thermal Coal Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the thermal coal market include Coal India Limited, China Shenhua Energy Company Limited, China Coal Energy Company Limited, Peabody Energy, Inc., Adani Group, Alliance Resource Partners, L.P., Yanzhou Coal Mining Company Limited. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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