Coal Market Adopts Mobile Equipment Management To Enhance Productivity
November 26, 2021
The Business Research Company’s Coal Market 2021 - Opportunities And Strategies – Global Forecast To 2030
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Coal mining companies are using autonomous mining vehicles and mobile equipment management systems with capabilities for fleet tracking, proximity detection, and remote machine operation to enhance productivity. Autonomous machines have better fuel efficiency, productivity, vehicle durability, and overall machine performance than manually operated machines. For instance, for improved safety in underground mining operations, Caterpillar has developed semi-autonomous LHDs at Newmont mine in Nevada. Caterpillar has a fully autonomous fleet of mining trucks operating at two mines in Western Australia. Autonomous trucks operation in mines operated by Rio Tinto increased productivity by 12% and reduced load and haul costs by 13%. Following the trend, in June 2020, Sany Heavy Industry Co., Ltd., a Chinese multinational heavy equipment manufacturing company, launched two SKT90E wide-body, fully autonomous mining trucks for mining sites in China. The trucks can independently complete route-tracking, load and unload of materials, and parking.
The global coal market size reached a value of nearly $1.03 trillion in 2020, having increased at a compound annual growth rate (CAGR) of 5.8% since 2015. The market is expected to grow from $1.03 trillion in 2020 to $1.44 trillion in 2025 at a rate of 6.9%. The coal market is then expected to grow at a CAGR of 5.2% from 2025 and reach $1.85 trillion in 2030.
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Major players covered in the global coal industry are China Shenhua Energy Company Limited, China Coal Energy Co., Ltd., Coal India Limited, Yanzhou Coal Mining Company Limited, BHP.
The increasing share of coal in power generation in some countries is expected to drive the coal market. About 20 countries are turning to coal for power generation, including nine in Africa (Democratic Republic Congo, Egypt, Côte d'Ivoire, Kenya, Morocco, Mozambic, Niger, Senegal and Tanzania), three in Central America (Dominican Republic, Panama, and Salvador), two in the Middle East (the UAE and Jordan) and three in Asia (Bangladesh, Cambodia and Myanmar). By 2025, more than 65 coal-fired power plants could be commissioned in these countries, representing a capacity of 50 GW. Significant increases in coal use are also expected in Vietnam, the Philippines, and Malaysia. Countries such as China, India and Indonesia, where electricity is produced primarily from coal, will significantly reduce the share of coal in their power mix, but not below 35%, due to the abundance of domestic coal reserves and their economic attractiveness. The continued demand for coal in power generation globally and increasing share of coal in power generation in some countries will drive the coal market going forward.
TBRC’s global coal market report is segmented by type into bituminous coal, sub-bituminous coal, by end-user industry into electricity, steel, cement, others, by mining technology into surface mining, underground mining.
Coal Market 2021 - By Type (Bituminous Coal, Sub-Bituminous Coal, Lignite, Anthracite), By End-User (Electricity, Steel, Cement) And By Region, Opportunities And Strategies – Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provides coal market overview, forecast coal market size and growth for the whole market, coal market segments, and geographies, coal market trends, coal market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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