Press Release
Press Release
According to a new report by EMR titled, ‘The Australia Coal Market Report and Forecast 2024-2032’, the market is estimated to grow at a CAGR of 1.2% between 2024 and 2032. Key market drivers include the growing use of coal in electricity generation for its reliability and predictability.
The growth of Australia's coal market is fueled by the increasing adoption of coal in electricity generation and cement production. Coal, sourced from underground or surface mines, exists in various types or ranks. Higher-ranked coal like anthracite and bituminous is crucial for industries like steelmaking due to its high heating value. Conversely, lower-ranked coal such as sub-bituminous and lignite is mainly used for electricity generation. Australia's economy heavily relies on coal for affordable and dependable electricity, with coal contributing 69% to the National Electricity Market in 2019, followed by gas at 9%, hydro at 7%, and other renewables at 16%.
Fig: Emissions from coal in Australia, Mt CO2
The growth of Australia's coal market is fueled by expansion in construction driven by population growth and industrialization. Coal serves as a vital energy source in cement production, a key component of construction. Furthermore, coal combustion products contribute significantly to concrete production, underscoring coal's broader impact on the construction industry's infrastructure needs.
The surging demand for steel driven by urban expansion and robust infrastructure development is driving product growth. Steel production involves using coke and coal to generate carbon monoxide, which, at high temperatures, converts iron ore into liquid form. Impurities are removed from the molten iron, and alloys are added to create steel. This process underscores the role of steel in meeting construction and industrial needs amid urban expansion and infrastructure growth.
Increased investments in research and development by market players aim to develop coal mining equipment with improved efficiency and reduced environmental impact, creating promising growth prospects for the market. This focus on innovation underscores a commitment to sustainability while meeting demand for coal mining equipment that aligns with environmental objectives and market expectations.
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The major players in the Australia coal market are BHP Group Ltd., Glencore Plc, Bloomfield Group, Banpu PCL (Centennial Coal Company Pty Limited), Yancoal Australia Ltd., Idemitsu Kosan Co., Ltd., Jellinbah Group Pty Ltd., Peabody Energy, Inc., Whitehaven Coal Ltd., Anglo American Plc, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Mining Technology |
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Breakup by Application |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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