LONDON--(BUSINESS WIRE)--The global steam coal market is expected to post a CAGR of 1% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The rising demand for energy will be one of the major drivers for the global steam coal market. The need for energy is increasing significantly across the world due to several factors such as growing population, rapid urbanization, and rising economy. Factors such as the rise in population, improved standards of living, and availability of better infrastructure and facilities in urban areas have led to rapid urbanization. This directly boosts industrial activities thereby driving the demand for power and energy. As steam coal is the dominant source of energy, the growth in its demand will boost the steam coal market during the forecast period.
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As per Technavio, the increasing adoption of clean coal-based power generation, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Steam Coal Market: Growing Adoption of Clean Coal-Based Power Generation
The increasing adoption of clean coal-based power generation will be one of the critical trends in the global steam coal market. Low-carbon emitting sources are being incorporated by end-user industries, but it is not slowing down the growth of coal-based power generation. Moreover, clean coal technologies are increasingly being employed to ensure low carbon emissions from steam coal-based power generation. This enables end-users to comply with stringent government regulations pertaining to carbon emissions. Several initiatives are being taken up by various governments across countries to reduce emissions from the power sector, which are significantly contributing to the growth in the adoption of clean coal technologies. This will drive the growth of the steam coal market during the forecast period.
“Apart from the growing adoption of clean coal-based power generation, the low cost of power generation using coal and the high dependency on coal-fired power generation are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Steam Coal Market: Segmentation Analysis
This market research report segments the global steam coal market by application (power, cement, and others) and geographical regions (APAC, Americas, and EMEA).
The APAC region led the market in 2018, followed by EMEA and Americas respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market. This is due to the high demand for steam coal in South East Asian countries.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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