LONDON–(BUSINESS WIRE)–According to the latest market research report by Technavio, the global coal mining market is expected to surpass 7.25 billion tons in production by 2019.

In this report, Technavio covers the present scenario and growth prospects of the global coal mining market for 2015-2019. This report covers the global coal mining market by mining technologies, including surface mining and underground mining.

“Many big companies in China and India are funding the development of greenfield mines in underdeveloped countries such as Burma, Indonesia, and Papua New Guinea. US and European companies are also expressing keen interest in funding mines discovered in countries such as the Philippines. The increased demand in these nations is therefore forcing existing nickel mining companies to consider exploring and discovering newer coal reserves. All the above mentioned factors are expected to drive the growth of the global coal mining market,” said Chandrakumar Badala Jaganathan, one of Technavio’s lead industry analysts for metals and minerals.

Segmentation of the global coal mining market by geography 2014

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China: largest region for the global coal mining market

The coal mining market in China is expected to reach close to 3.50 billion tons in 2019, growing at a CAGR of over 3%. Transformation of China from an investment-led to a consumption-driven economy is largely fueling the growth of this market in the country. Technavio researchers further estimate that China alone burns nearly as much coal as the rest of the world combined. It is anticipated that over the next four years, the Chinese economy will likely witness an increase in the demand for coal based power. The market will also continue to drive export of steel manufacturing materials such as metallurgical coal and iron ore during the same period. AS THE fuel the growth of the global coal mining industry over the next four years.

US: second largest region for the global coal mining market

The coal mining market in the US was estimated to be close to 808.9 million tons in 2014 and is expected to reach close to 831 million tons in 2019. The US is the third largest primary energy consumer in which coal is used as a source, and it accounted for close to 18% of the global energy consumption in 2013. The electric power sector in the US accounted for close to 91% of coal consumption during the same period.

The development of power generation infrastructure, with the development of newer modes of technology to harness coal, is therefore expected to significantly impact the coal mining market in the US until 2019.

Coal mining market in India

The coal mining market in India is expected to grow at a rapid pace during the forecast period. As government owned entities produce more than 90% of the coal in India, CIL became one of the largest coal producing companies in the world in 2015. The part played by the private sector in the coal mining sector in India is however limited to captive mining for the purpose of self-consumption in sectors such as power generation, fertilizer production, steel production, and cement production. In spite of possessing large coal reserves, the industry is unable to cope with the demand for coal in the market. Therefore, India has to import coal to meet its extra requirements. Although India has large coal reserved, existing rates of production in domestic coal production will have to be pushed to meet future demands.

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