According to a recent report by Lucintel, the global coal industry is expected to reach US$1036 billion by 2018.
The major drivers to the industry are rising economic growth, increasing manufacturing base, and increasing demand for electricity. Availability of coal in abundance and relatively lower cost for coal generated power plants drives the demand for coal. APAC is likely to dominate the industry during this forecast period.
On the basis of the research it is forecast that the coal industry will grow moderately during 2013 – 2018. Strong demand in the electric utilities sector considering an increase in population and growth in electric appliances I fostered by rise in living standards. Growing demand for energy from emerging economies such as China, India, and the Middle East countries is anticipated to boost the market. Upcoming technology such as coal liquefaction and gasification technology, carbon capture and storage/sequestration (CCS), and efficiency improvement by ultra supercritical pulverised coal (USPC), and integrated gasification combined cycle (IGCC) are the emerging trends that are likely to boost the market.
Adapted from a press release by Emma McAleavey.
Read the article online at: https://www.worldcoal.com/coal/23022015/global-coal-market-to-2018-1949/