The global coal trading market faces stiff competition due to the involvement of many players in the market, reveals an upcoming report by Transparency Market Research (TMR). The market players are adopting growth strategies such as joint ventures and partnerships to penetrate into the regional and global market.
Some of the key players in the global coal trading market include Peabody Energy Corporation, Siberian Coal Energy Company, PT Bumi Resources Tbk, Arch Coal Inc., and Glencore Plc. The competition is likely to expand at a rapid pace in the next few years with an increase in the number of competitors. Moreover, most players are investing heavily in the coal trading market.
The global coal trading market is anticipated to rise 3.43% compounded annual growth rate (CAGR) over the forecast period 2015 - 2023. Industrialisation at a phenomenal rate is projected to surge the market in the following years. The global coal trading market was valued to have generated 8086 million t and it is expected to generate estimated volume of 10 951 million t by the end of 2023.
Asia Pacific is anticipated to dominate the global coal trading market. The growth can be due to infrastructure development projects and rapid industrialisation in the region. The growing economies of India and China are expected to keep the momentum of coal trading activities going during the forecast period.
On the basis of segmentation, the coal trading market is divided into bituminous, sub bituminous and lignite as far as product type is concerned. Of all these types of product, the global coal trading is expected to be dominated by lignite segment in the forthcoming years.
Most of the coal mines are located in the US, Indonesia, Kazakhstan and South Africa. North America is projected to emerge as a lucrative market followed by Asia Pacific.
Power generation sector to surge global coal trading market
Coal is the main component in power generation, the abundant availability of it and wide reserves are projected to fuel the global coal trading market in the upcoming years. The manufacturing activities in developing countries coal trading is expected to gain impetus in the global coal trading market in the future.
Depleting natural resources and rising global warming create a demand for investment in sustainable coal technology, thus, owing to the rise in the global coal trading market.
Transportation sector to provide impetus to global coal trading market
The demand and supply of coal is directly linked to transport price, thus any increase in transport price will increase the price for coal trading. The rising need for public and private transport paves the way for surge in the global coal trading market in the upcoming years.
Coal is considered to be one of the cheap resources in comparison with other natural resources such as gas and oil, thus, playing as a catalyst in the global coal trading market expansion. Additionally, iron and steel companies are expected to surge the demand for coal, aiding in the expansion of the global coal trading market.
Coal plays an important role in building sustainable solutions for meeting huge demand, thus, results in the expansion of the global coal trading market in the upcoming years. Moreover, increasing support from government bodies is supposed to provide good growth avenues in the global coal trading market.
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Read the article online at: https://www.worldcoal.com/mining/23012020/coal-trading-market-to-2023/