Steam Coal Market

Steam Coal Market - An Overview

The global steam coal market is projected to witness moderate growth during the forecast period between 2021 and 2031.

Steam coal is a type of thermal coal, which has been extensively deployed in electricity generation in the last few years.

The powdered form of steam coal has gained preference recently since it burns faster at high temperatures and is fired into boilers at power plants to run steam turbines.

Other features such as high moisture content, minimal sulfur content, and low ash content have made steam coal a suitable raw material in different applications such as cement production, where steam coal has emerged as a key component in the calcination process as well as space heating at residences.

Steam Coal Market - Trends and Opportunities

Rising need for large amounts of energy for cement production, which is deployed in building and construction industry is the key growth driver for the global steam coal market.

Also, increasing dependency on coal-based power plants by different industries is anticipated to fuel the growth in the overall steam coal market, in the coming years.

Increasing demand for steam coal at thermal plants worldwide is also expected to propel the overall steam coal market, in the years ahead.

Emerging technologies such as carbon storage as well as coal liquefaction are expected to offer profitable growth opportunities for the global steam coal market, in the coming years.

Other factors such as rapid industrialization, particularly in developing economies such as India, emergence of power-boosting techniques, as well as rising population worldwide could bolster the growth in the overall steam coal market, in future.

Steam Coal Market - Competitive Landscape

The global steam coal market is highly competitive, with the presence of several well-established players. Many of them are expected to account for a large share in the overall steam coal market, in future.

Collaboration with other players and organizations could help prominent steam coal market players expand their market presence and increase their revenue shares.

In April 2021, Coal India Limited signed a collaborative agreement with Gujarat Urja Vikas Nigam Limited regarding the sale of 100MW of solar power, for a period of 25 years.

R&D undertakings could be a key growth strategy for the leading steam coal market players, in the years ahead.

Prominent steam coal market players could also engage in growth strategies such as novel product launches, which could help them gain a competitive edge over other market players.

A few leading players in the global steam coal market include Coal India Limited, Alpha Natural Resources Inc., China Shenhua Energy Company Limited, and Sasol Limited.

Steam Coal Market - Regional Assessment

The global steam coal market is classified into five regions, namely, North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Asia Pacific is expected to be the dominant region in the global steam coal market in future owing to increasing need for steam coal for thermal and hydro power generation in countries such as China and India.

Leading market players could establish energy generation units in countries such as India, owing to the ease of availability of land and labor which could help increase the demand for steam coal and bolster the overall steam coal market, in the region.

Europe is anticipated to offer profitable growth opportunities for the overall steam coal market because of growing product demand to generate electricity in countries such as Germany and Poland.

Middle East and Africa as well as Latin America are expected to witness strong growth in the global steam coal market because of rapid industrialization and urbanization witnessed in countries belonging to both the regions.

North America is expected to witness moderate growth in the global steam coal market, in the years ahead.