Bituminous Coal Market: Overview
Coal is a mineral present in the surface of Earth in the form of sedimentary rock. It is one of the most abundant fossil fuel and it is used as fuel to generate electricity across the globe. Coal is easy to store, reliable, and safe source of energy. Anthracite, bituminous, sub-bituminous, lignite, and peat are various types of coal. Bituminous contains approximately 45% to 86% carbon and has a heat value ranging between 10,500 and 15,500 British thermal unit (BTUs)?per?pound. This coal has little water content or other impurities; however, it does not contain sulfur. Bituminous accounts for about 50% of the overall coal produced in the U.S. This coal is mined through surface mining and underground mining.
Bituminous Coal Market: Driver & Restraints
Bituminous coal is extensive employed to generate electricity in coal-fired power plants. Renewable sources of energy are increasingly being used to generate electricity; however, coal is still extensively used as a major source of energy for electricity generation. This is encouraging companies to invest more in exploration of new coal reserves, which in turn is anticipated to drive the bituminous coal market in the near future. Furthermore, increasing demand for metal from various industries is anticipated to drive the demand for bituminous coal during the forecast period as bituminous coal is used to power the kilns.
Companies operating in the global bituminous coal market strive to explore new reserves for mining bituminous coal. Coal, being a fossil fuel, has limited reserves across the globe and hence, companies are invest heavily in exploration activities in order to find new reserves for coal.
Bituminous Coal Market: Key segments
In terms of type, the bituminous coal market can be divided into smithing coal, cannel coal, and cooking coal. The cooking coal segment is estimated to expand at a considerable pace in the next few years due to the rise in requirement for electricity in developing economies such as China, India, and Brazil.
In terms of application, the bituminous coal market can be divided into power generation, cement manufacturing, and steel making. The power generation segment is estimated to expand at a considerable pace during the forecast period due to consistent use of bituminous coal in the thermal power plants across the globe.
Bituminous Coal Market: Regional Outlook
Based on region, the global bituminous coal market can be segregated into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. Asia Pacific and North America are anticipated constitute major share of the global bituminous coal market during the forecast period. The bituminous coal market in Asia Pacific is likely to expand at a significant pace due to the rise in per capita income in developing economies such as China and India. Rise in per capita income is increasing the spending power of consumers. This, in turn, is estimated to propel the demand for electricity in Asia Pacific. Additionally, increasing use of bituminous coal in the cement manufacturing industry fuels the bituminous coal market in the region. Middle East & Africa is expected to be an attractive region for the bituminous coal market during the forecast period due to the rise in demand for bituminous coal to manufacture steel in the region.
Bituminous Coal Market: Key Players
Prominent players operating in the global bituminous coal market include Peabody Energy, Shenhua Group, Vale S.A., and Arch Coal, Inc. These players engage in exploration activities, strategic alliances, and mergers & acquisitions to gain market share.
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