Market Size of United States 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 | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Coal Market Analysis
The coal market in the United States is expected to decline at a CAGR of more than 3% in 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-fired power plants is falling, existing thermal plants are likely to consume significant coal during the forecast period. However, the market is continuously witnessing a downfall in demand attributing to climate change policies and are focus on renewable energy sources for electricity generation.
- With the decreasing share of coal in electricity generation, the share of coal in the metallurgy industry is increasing is expected to witness significant growth in the market during the forecast period.
- In 2019, the United States held 24,9537 million tons of coal reserves, which is the highest share recorded globally. With ample reserves and significant ongoing electricity generation from coal, the market is expected to create considerable opportunities in the future.
- Rising environmental concerns over greenhouse gases emissions, global warming, and shift towards renewable energy sources are expected to restrain the growth of the coal market in the United States during the forecast period.
