Transparency Market Research Report Added "Coal Mining Market" to its database.
Albany, NY -- (SBWIRE) -- 01/06/2015 -- Coal is a global resource, its demand and price fluctuates frequently. In upcoming years the demand of coking coal will increase because of the requirement of developing countries for production of steel. The aim of coal mining is to extract coal from the ground. Mining of different types of coal takes place either underground or in surface pits. Most of the coal mines consist of bituminous, anthracite or lignite type of coal.
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The developing countries have more demand for metallurgical coal for steel production. Further, the demand of electricity is expected to expand which will offer some relief to the coal mining operators. The opportunities for coal mining industries will be the emerging industries which demand high quantity of metallurgical coal may be at higher rates in order to meet steel requirements. Furthermore the demand for electricity is rising which will offer relief to the operators of coal mining industry. There is expectation of decrement in coal prices due to slow economic growth of the global market, slower growth in developing economies will harm demand for metallurgical coal and prices will decline. The mining industry of coal has seen decrement in past few years mainly because of electricity generation through natural gas, nuclear energy, etc. which has ultimately increased competition for industry. Also natural gas may reduce the demand for coal as there are other sources to generate electricity which is rising globally.
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The thermal coal and metallurgical coal is obtained from underground mines and surface mines. The markets largely covered under the coal mining industry are North America (U.S., Canada), Asia Pacific (India, China, Indonesia, Australia). The Asia-pacific region is having one of the largest coal reserves which are followed by Europe and North America. China has contributed more than 65% of total regional coal production making it largest coal producer in the world. The application of mining industry can be seen in residential, industrial and commercial area also power generation and transportation. The basic methods for mining are surface mining and deep underground mining and the technologies being used in mining of coal are horizontal drilling and hydraulic fracturing.
Some of the key players of the market include Arch Coal Inc., Alpha natural resources, Peabody energy corporation, CONSOL Energy Inc.
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