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2012-02-01 00:00:00
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San Jose, California (PRWEB) January 31, 2012 -- Follow us on LinkedIn – Coal, a low-cost and relatively abundant fossil fuel, is an important source of heat and energy. Recoverable coal reserves are present in about 70 countries across the globe, and coal mining is undertaken in about 52 countries. The relative ease of usage, storage and transport, makes coal a vital part of the global energy mix. Globally, coal is an important source of electricity generation, with coal and coal-derived fuels powering about 40% of the electricity generation worldwide. The percentage of dependence on coal for electricity generation is significantly higher than the global average in countries such as US, Poland, China and Australia. Metallurgical or coking coal, a major component in steel manufacture, is also in great demand as the economic recovery stimulates the revival of global steel production. Though the economic turbulence within the Eurozone and US is expected to foster volatility in pricing in the near term, the coal industry is regaining strength in tune with the strong growth forecasts in emerging economies. Having achieved the position of among the top producers, as well as the largest importers of coal in 2009, the Chinese market has evolved into a bellwether and a major growth driver in the global coal market. The global coal industry, which experienced a prolonged spell of bleakness in 2008-09 due to the worldwide economic crisis is now finally looking up and providing a better outlook. The US economy in the doldrums for long is regaining stability, with a rebound in several industries including, coal. Also, the coal industry stands to gain from Japan’s natural disaster, which brought about serious concerns and questions about the usage and safety of nuclear powered industries. In the aftermath of the earthquake, tsunami, as well as nuclear plant meltdown in Japan, the demand for coal and subsequently coal prices temporarily subsided. However, during the latter part of the year, the resurgence of the Japanese economy, as well as rising demand for thermal coal in the Northern hemisphere due to climatic changes, led to demand far exceeding supply. This upward trend in coal demand is chiefly driven by the escalating demand for coal in Asian countries, favorable patterns of weather, rebound in the demand for domestic power and the increase in global economic activity. The consolidation phase that began in 2011 in the global and in particular the US coal industry is expected to continue in the near term. Although the coal industry displayed resilience in the face of changing environmental policies in the near term, the shift towards eco-friendly and renewable energy sources in the developed economies is a concern for the industry in the long term. The Australian government recently proposed to join the bandwagon of countries imposing carbon emission taxes on coal production and end-use sectors. The ripples of these policy changes are spreading to developing economies as well, with several countries including China are considering carbon exchange programs for the industry. The relatively high cost of developing and implementing Clean Coal Technology and Carbon capture and Storage (CCS) is a major impediment in worldwide efforts to contain greenhouse gas (GHG) emissions. Despite these concerns, coal is expected to remain major part of the global energy mix in the near future owing to the low cost and abundance of the fuel. The research report titled “Coal Industry: A Global Outlook” announced by Global Industry Analysts, Inc., provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report offers a rudimentary overview of the industry, highlights latest trends and demand drivers, in addition to providing statistical insights. Major regional markets abstracted and covered in the report include US, Canada, Europe (France, Germany, Italy, UK, Russia, Poland, Turkey, and Ukraine among others), Asia-Pacific (Japan, China, India, Australia, Indonesia, Taiwan, and South Korea among others), Middle East & Africa, and Latin America. The report offers a compilation of recent mergers, acquisitions, and strategic corporate developments. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of companies worldwide. For more details about this comprehensive industry report, please visit – About Global Industry Analysts, Inc. Global Industry Analysts, Inc. |
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Global Coal Consumption to Reach 5,168 Million Tons of Oil Equivalent (MTOE) by 2015, According to New Report by Global Industry Analysts, Inc
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