The coal demand plays a vital role in power generation and is set to continue. Coal is used in variety of sectors such as in iron and steel production, and cement production etc. Rapid population growth demands more power.
Albany, NY -- (SBWIRE) -- 11/02/2016 -- Coal is the backbone of the power, industrial, and manufacturing sectors of every country. The coal trading market is expected to expand due to rise in industrial development across the world. Increased demand for power and rise in urbanization are some of the important factors driving the demand for coal. The coal trading market is estimated to expand during the forecast period owing to increase in infrastructure and power requirements in all geographies of the world. Rise in demand for power and growth in population are some of the important factors affecting the demand for coal. Coal is used in wide range of application. This includes power, steel and cement. Energy is critical to sustainable development. Coal usage supports business and industry, so that they can achieve economic growth.
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Rising demand for power is also propelling the global coal trading market. Growth in the coal trading market is likely to be driven by Asia Pacific, followed by North America, Europe, and Rest of the World, during the forecast period.
The coal demand plays a vital role in power generation and is set to continue. Coal is used in variety of sectors such as in iron and steel production, and cement production etc. Rapid population growth demands more power. Price of coal is dependent on its logistics cost. Coal has to be transported to the end-user before it can be used. Transportation cost accounts for a large share of total delivered price of the coal. Major coal fired power plants are located near to coal mines in order to minimize transportation cost. For short distances, from mine to the market, coal is transported through trucks, conveyor. For long distances, from mine to the market, coal is transported through ships and pipelines. Coal is mixed with water in order to transport it through pipelines
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The market for coal trading has been segmented on the basis of type, application and region. Bituminous held the largest share (46%), followed by sub-bituminous (32%) of the coal trading market, by coal type in 2014. In terms of region, Asia Pacific and North America accounted for nearly 47.1% and 23.9% share, respectively, of the coal trading market, by coal type in 2014. Power held the largest share (65%), followed by others (16.1%) such as Paper, fertilizers, pharmaceutical, industrial heating and others. The difference in the market share, by coal type is attributed to high growth rate is Asia Pacific compared to that in other regions.
Increasing demand for power and infrastructure in Asia Pacific is a major driver for the growth of the coal trading mining market in the region. North America was the second-largest market followed by Europe in 2014. The Rest of the World exhibited sluggish growth in the same year; however, increase infrastructure and power requirements are anticipated to augment the coal trading market in these regions in the near future. In Asia Pacific, China, and India are estimated to emerge as markets with high potential for coal trading market in Asia Pacific during the forecast period.
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The global coal trading market has been segmented into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. Asia Pacific held the largest share of 47.1% and North America held the second largest share of 23.9% in global coal trading market in 2014 by coal type. Asia Pacific houses developing countries which are expanding in terms of power requirements, industrial developments and constructional activities. North America is focusing more on improving its existing industrial and infrastructure facilities which would increase demand for iron, steel and cement. Thus, the demand for coal is expected to increase for the forecast period.
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