The is experiencing cutthroat competition due to a handful of players. To gain an upper hand in this competition, players are entering into strategic partnerships and joint ventures to gain relatively easy market entry along with an operational stability. The leading five players in the global coal trading market held massive share of 74.5% in 2014. A TMR analyst says, “Focusing on the development of clean energy through technological advancements, efficient management, and delivering value to customers will prove to be a winning strategy for companies in the overall market.”
Development of clean coal technologies to reduce the impact of coal burning on the environment is likely to open up new opportunities for coal trading. Governments across the globe, especially in the developing regions that depend on conventional energy resources of energy, are framing initiatives to step up the research and development activities pertaining to development of efficient coal technologies.
The research report states that by volume, the global coal trading market will stand at 10,951 million tonnes (MT) by 2023 rising from 8,086 million tonnes (MT) in 2014 surging at a CAGR of 3.43% from 2015 to 2023 in terms of volume. The lignite coal product segment is anticipated to excel in the overall market due to its availability and affordability. This segmented in expected to leap at a CAGR of 3.04% during the mentioned forecast period. In the forecast period, North America is expected to lead the overall market as the demand will shift from natural gas fired power plants to conventional coal fired power plants. By the end of 2023, this region will hold a share of 23.6% in the overall market.
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