Fior Markets has launched a study titled: ‘Coal Handling Equipment Market by Type (Material Handling, Crushing Equipment), Application (Underground Mining, Surface Mining, Coal Processing), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2019 to 2026’.
According to the report, the global coal handling equipment market is expected to grow from US$1603.77 million in 2018 to US$2310.07 million by 2026 at a compound annual growth rate of 4.61% during the forecast period from 2019-2026. The key contributing factors for the market growth are electrification of mining equipment, developments in carbon capture and storage (CCU), R&D initiatives, and growing demand for power generation in emerging economies.
Market Outlook of the Coal Handling Equipment
- The increasing use of automation in coal mining to improve productivity and efficiency of mining operations has driven the coal handling equipment market.
- Electrification of mining equipment, developments in carbon capture and storage (CCU), R&D initiatives, and growing demand for power generation in emerging economies are the key driving factors for the coal handling equipment market.
- The environmental concerns, stringent regulations and government promotion of cleaner fuels such as natural gas, solar, and wind energy may limit the growth of the market.
- The emerging trend of rental business in the mining industry and smoothening handling operations to reduce wastage, cost, and handling time is expected to boost the coal handling equipment market over the forecast period.
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Read the article online at: https://www.worldcoal.com/coal/26072019/global-coal-handling-equipment-market-is-expected-to-reach-us231-billion-by-2026-according-to-fior-markets/