The coal handling equipment market in the mining industry will register a CAGR of almost 4% by 2023

<>

NEW YORK, March 11, 2019 — About this market

Coal mining has traditionally been a labor-intensive industry. However, the growing competitiveness in the renewable energy sector and the emergence of substitutes for coal have accelerated the adoption of automation in coal mining to make mining productive and efficient. Furthermore, the share of coal extracted using the underground coal mining method continues to increase in the global coal mining industry. Underground coal mine workers are subject to increased safety risks than the workers in surface coal mining sites. This is also encouraging the adoption of automation in underground coal mining. These developments are leading to coal miners replacing their existing fleet for coal haulage with automated haulage systems, especially in developed countries where labor costs are high and coal mining is not considered a good career option. Thus, the introduction of technologically advanced equipment is expected to drive the demand for coal handling equipment in the mining industry during the forecast period. Our analysts have predicted that the coal handling equipment market in the mining industry will register a CAGR of almost 4% by 2023.

Read the full report: https://www.reportlinker.com/p05751912

Market Overview

Increasing demand for coal from end- user industries in Southeast Asia, Africa, Russia, and Turley

The global coal demand for power generation is expected to be driven by the countries in Southeast Asia and Africa as part of its One Belt One Road (OBOR) initiative, is financing several coal-fired power plants in Africa and Southeast Asia. The demand for thermal coal (used in the power generation industry) is expected to arise mainly from Southeast Asia and Africa during the forecast period.

Declining consumption of coal in power and steel sectors in developing countries

The rapidly increasing their steelmaking capacity in the Middle East, are mostly using natural gas to produce sponge iron or melting scrap steel in electric arc furnaces (EAFs) to produce recycled steel instead of following the primary steelmaking method that involves the use of coking coal with iron ore. This is expected to limit the growth of the global coal handling equipment market in the mining industry during the forecast period.

For the detailed list of factors that will drive and challenge the growth of the coal handling equipment market in the mining industry during the 2019-2023, view our report.

Competitive Landscape

The market appears to be fairly concentrated and with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.

Read the full report: https://www.reportlinker.com/p05751912

About Reportlinker

ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.

__________________________

Contact Clare: clare@reportlinker.com

US: (339)-368-6001

Intl: +1 339-368-6001

SOURCE Reportlinker

Related Links

http://www.reportlinker.com

WHAT TO READ NEXT...