Market Size of Canada Coal Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 3.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Canada Coal Market Analysis
The coal market in Canada is expected to decline at a CAGR of more than 3% during the forecast period of 2020-2025. Despite decreasing production, the market is expected to be driven by the metallurgical, cement, and other end-user industries. Although power generation from coal is declining, existing thermal plants are likely to consume a significant amount of coal during the forecast period. However, the market is continuously witnessing a downfall in demand attributing to climate change policies and shifting focus on renewable energy sources for electricity generation.
- With the decreasing share of coal in the country's electricity generation mix, the share of coal in the metallurgy industry is increasing and is expected to dominate the market during the forecast period.
- Canada exports the majority of its produced coal to countries like South Korea, Japan, India, China, etc. India and China produce significant electricity generation from coal, with China and Japan having plans to make more coal-fired power plants in the coming year, this is expected to create considerable opportunities in the near future.
- Rising environmental concerns over greenhouse gas emissions and global warming are expected to restrain the growth of the coal market in Canada during the forecast period.
