B0511-GL Global Coal Mining Industry Report.pdf

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1、IBISW1-800-330-3772infoIBISW INDUSTRY REPORT B0511-GLGlobal Coal MiningMatthew Buchko | August 2021Global Coal MiningAugust 20212IBISWContentsUkraine Conflict Impact Update.3COVID-19 (Coronavirus) Impact Update.3ABOUT THIS INDUSTRY. 5Industry Definition.5Major Players. 5Main Activities. 5Supply Chai

2、n.6INDUSTRY AT A GLANCE.7Executive Summary. 9INDUSTRY PERFORMANCE.10Key External Drivers.10Current Performance.11INDUSTRY OUTLOOK. 14Outlook.14Industry Life Cycle.16PRODUCTS & MARKETS. 17Supply Chain.17Products & Services.17Demand Determinants. 18Major Markets.18International Trade. 20Business Locat

3、ions. 21COMPETITIVE LANDSCAPE.24Market Share Concentration. 24Key Success Factors.24Cost Structure Benchmarks. 24Basis of Competition. 27Barriers to Entry. 27Industry Globalization.28MAJOR COMPANIES.29Other Companies. 29OPERATING CONDITIONS. 31Capital Intensity.31Technology & Systems.31Revenue Volat

4、ility.32Regulation & Policy. 32Industry Assistance. 35KEY STATISTICS. 37Industry Data.37Annual Change.37Key Ratios.37ADDITIONAL RESOURCES.38Additional Resources. 38Industry Jargon.38Glossary. 38Global Coal MiningAugust 20213IBISWUkraine ConflictImpact UpdateIBISWorlds analysts are currently monitori

5、ng the economic impacts of the Russian invasion of Ukraine. Here is anupdate of how this industry is likely to be affected. Russias attack on Ukraine has driven oil prices to increase as countries, companies and investors have decreasedor halted their purchases of Russian oil. Despite Russia decreas

6、ing prices, buyers have largely concluded that thecons outweigh the pros of doing business with Russia. Russia is the third-largest oil producer and supplies around 10.0% of global oil. The decrease in supply fromRussia has caused oil prices to increase globally. The increase in oil prices at the pr

7、oduction level is expected to lead to an increase in prices in downstreamindustries that use oil as an input. This may negatively affect consumers spending power.Note: The content in this report will soon be updated to reflect the above trends.COVID-19(Coronavirus)Impact UpdateIBISWorlds analysts co

8、nstantly monitor the industry impacts of current events in real-time here is an update ofhow this industry is likely to be impacted as a result of the global COVID-19 pandemic: The economic response of some countries, including Australia, India and the United States, to the spread ofCOVID-19 (corona

9、virus) is expected to reduce losses in demand for coal products. For more detail, please see theIndustry Assistance chapter. Revenue expectations for the Global Coal Mining industry have been adjusted from a decline of 5.4% to a declineof 12.2% in 2020 as a result of losses in downstream demand, whi

10、ch should also lower industry prices. For moredetail, please see the Current Performance chapter. In 2021, improved product prices and increased downstream demand should fuel strong industry revenue growth.For more detail, please see the Current Performance chapter.Note: The content in this report i

11、s currently being updated to reflect the trends outlined above.Global Coal MiningAugust 20214IBISWAbout IBISWorldIBISWorld specializes in industry research with coverage on thousands of global industries. Our comprehensive data and in-depth analysis helpbusinesses of all types gain quick and actiona

12、ble insights on industries around the world. Busy professionals can spend less time researchingand preparing for meetings, and more time focused on making strategic business decisions that benefit you, your company and your clients. Weoffer research on industries in the US, Canada, Australia, New Ze

13、aland, Germany, the UK, Ireland, China and Mexico, as well as industries thatare truly global in nature.Global Coal MiningAugust 20215IBISWAbout This IndustryIndustry DefinitionThe Global Coal Mining industry mines various types of coal. Most coal mines consist of bituminous coal oranthracite, which

14、 are types of black coal. Operators may also mine lignite or brown coal. Mining occurs undergroundand in surface pits. Industry enterprises may also develop coal mine sites and prepare the coal for sale by washing,screening and sizing it.Major PlayersThere are no major players in this industryMain A

15、ctivitiesThe primary activities of this industry are:Bituminous coal and lignite underground miningBituminous coal and lignite surface miningAnthracite miningThe major products and services in this industry are:Thermal coalThermal lignite coalCoking coalGlobal Coal MiningAugust 20216IBISWSupply Chai

16、nSIMILAR INDUSTRIESGlobal Oil & Gas Exploration &ProductionGlobal Iron Ore MiningGlobal Uranium and RelatedMiningGlobal Engineering Services RELATED INTERNATIONAL INDUSTRIESCoal Mining in ChinaHard Coal Mining in the UKCoal Mining in CanadaCoal Mining in New ZealandCoal Mining in the USBlack Coal Mi

17、ning in AustraliaBrown Coal Mining in Australia Global Coal MiningAugust 20217IBISWIndustry at a GlanceKey Statistics$790.6bnRevenueAnnual Growth201620216.6%Annual Growth20212026-0.9%Annual Growth20162026 $21.3bnProfitAnnual Growth201620216.6% Annual Growth20162021 2.7%Profit Margin 9,156BusinessesA

18、nnual Growth20162021-4.0%Annual Growth20212026-1.9%Annual Growth20162026 9mEmploymentAnnual Growth201620211.0%Annual Growth20212026-0.7%Annual Growth20162026 $151.1bnWagesAnnual Growth20162021-0.7%Annual Growth20212026-0.8%Annual Growth20162026Key External Drivers% = 201621 Annual Growth6.0%GDP of m

19、ainland China15.9%World price of steaming coal9.4%World price of coking coal22.6%World price of iron ore Industry StructurePOSITIVE IMPACT ConcentrationLow Barriers to EntryHigh / SteadyMIXED IMPACT Life CycleMature Technology ChangeMedium Industry GlobalizationMedium / Increasing CompetitionMedium

20、/ IncreasingNEGATIVE IMPACT Revenue VolatilityVery High Capital IntensityHigh Industry AssistanceLow / Increasing Regulation & PolicyHeavy / Steady Key TrendsTrade volumes have grown over the past five yearsThere is an apparent decline in the number of coal minesoperating across the globeRegulations

21、 have continued to play an important roleImports of thermal coal to several markets in Asia areexpected to slightly increaseEnvironmental concerns will continue having a negativeeffect on the industryThe industry will likely experience a reduction in mines andcompaniesThe worlds largest coal produce

22、rs are China, the UnitedStates and IndiaGlobal Coal MiningAugust 20218IBISWProducts & Services Segmentation Major PlayersThere are no major players in this industrySWOTSTRENGTHS None WEAKNESSES Low Profit vs. Sector Average High Customer Class Concentration High Product/Service Concentration Low Rev

23、enue per Employee High Capital Requirements OPPORTUNITIES High Revenue Growth (2016-2021) High Performance Drivers THREATS Low Outlier Growth Low Revenue Growth (2021-2026)Global Coal MiningAugust 20219IBISWExecutive SummaryCoal mined by the Global Coal Mining industry plays a vital role in the worl

24、ds ability to generate electricity andmanufacture steel. Coals position in global electricity markets stems from its relative accessibility, affordability anddistribution across the globe. The worlds largest coal producers are China, the United States and India, with thesecountries expected to retai

25、n their positions for the foreseeable future. Industry revenue is a function of globalproduction of industry products alongside global coal prices, with prices being closely tied to global economicconditions. Over the five years to 2021, prices of thermal and coking coal have fluctuated wildly, fall

26、ing prior to theperiod before recovering between 2016 and 2018. In 2017, industry revenue benefited from growth of 34.3% and63.4% in the world prices of steaming and coking coal, respectively, resulting in industry revenue growth of 43.0%that year. Industry revenue is anticipated to grow an annualiz

27、ed 6.6% to $790.6 billion over the five years to 2021,including forecast growth of 19.5% in 2021 alone due to growth in the world price of coal and higher downstreamdemand.Global thermal and metallurgical coal prices peaked around the years leading up 2011. However, declining demandfrom developed na

28、tions began to put downward pressure on prices, which began to fall in 2012 and continued fallinguntil 2016. In addition, due to environmental concerns, many countries began seeking ways to transition away fromcoal-powered electricity generation, boosting capacity for renewable and other nonrenewabl

29、e energy sources, suchas wind, solar and natural gas. However, coal is still an important piece of the global power generation ecosystem,as many developing nations have continued to increase the number of coal power plants, albeit at a lower rate thanin previous years. Consequently, industry profit

30、has stagnated due to volatile prices and demand.Over the five years to 2026, demand for coal is anticipated to decline. Some countries with developed anddeveloping economies will likely continue to shift energy generation toward renewable sources. However, many arealso expected to continue expanding

31、 their coal power capabilities. However, slowing demand from emergingmarkets will likely keep the prices of both coking and thermal coal relatively low. As a result, industry revenue isexpected to decline at an annualized rate of 0.9% to $755.5 billion over the five years to 2026.Global Coal MiningA

32、ugust 202110IBISWIndustry PerformanceKey ExternalDriversWorld price of steaming coalIndustry players mine steaming coal (i.e. thermal coal), which is used mainly for electricity production. More than80.0% of global coal production consists of steaming coal. Higher prices tend to increase industry re

33、venue andprofit, although large price hikes can conversely depress demand. The world price of steaming coal is expected toincrease in 2021. World price of coking coalDemand for coking coal is a key determinant of industry performance and is primarily determined by the need forsteel production. Incre

34、asing coking coal prices indicate a rise in demand. Additionally, higher prices typicallytranslate to increased industry revenue and profit. The world price of coking coal is expected to increase in 2021,representing a potential opportunity for the industry. GDP of mainland ChinaChina accounts for t

35、he majority of global coal demand and the largest share of coal production. The countrys steelmanufacturing sector is a direct purchaser of coking coal, although its downstream construction and industrialmarkets also help fuel demand. As Chinas overall economy expands, so does demand for coal. The G

36、DP ofmainland China is expected to grow in 2021. World price of iron oreIn addition to coking coal, iron ore is a key input in steel production. Therefore, there is a link between the prices ofthese two commodities on the global market. As the world price of iron ore increases, demand for the commod

37、itydrops, bringing demand for coking coal down with it. In 2021, the world price of iron ore is expected to increase,posing a potential threat to the industry. Global Coal MiningAugust 202111IBISWCurrentPerformanceCoal mined by Global Coal Mining industry plays a vital role in globalelectricity gene

38、ration markets and steel manufacturing markets.While concerns have risen related to the environmental damage caused by coal mining and coal power production,coal remains the worlds largest source of fuel and many countries still heavily rely on it to provide electricity.Industry revenue is primarily

39、 a function of the yearly production of coal alongside coal prices, which themselves aresubject to significant fluctuations due to changing global supply and demand conditions. Over the five years to 2021,the industry has exhibited significant volatility, falling sharply prior to the period due to d

40、eclining global production,before rising prices contributed to industry growth during the start of the current period. Overall, industry revenue isexpected to increase an annualized 6.6% to $790.6 billion over the five years to 2021, including forecast growth of19.5% in 2021 alone due to growth in t

41、he world prices of steaming and coking coal alongside improved downstreamdemand.THE COSTS OF COALAs with other mining industries, the industry is heavily reliant on theglobal prices of the commodities it extracts.Steaming coal, also known as thermal coal, has characteristics that make it ideal for e

42、lectricity generation.Meanwhile, coking coal, also recognized as metallurgical coal, plays an important role in steel manufacturingindustries as an input to production. When coal prices are elevated, industry operators have a greater economicincentive to search for and extract coal that may be too e

43、xpensive to mine in a low-price environment. As a result,industry operators are heavily exposed to price volatility. If companies open projects when prices are high andincreased global production causes prices to rapidly fall, a once-profitable project can rapidly become uneconomical.The world price

44、 of coking coal is expected to increase an annualized 6.3% over the five years to 2021, in responseto rising demand. While prices fell between 2012 and 2015 in response to a slowdown in demand, particularly fromChina, prices rose sharply in 2017 in response to a variety of factors, including a regul

45、ation limiting the number ofdays a mine can operate in China, which was soon reversed; increased steel production in China; and supplydisruptions in Australia, one of the largest sources of coking coal. Overall, China plays a vital role in the global coalindustry, as it is by far the worlds largest

46、consumer of coal. Significant fluctuations in the price of coal haverestricted growth in industry profit. Consequently, industry profit, measured as earnings before interest and taxes, isexpected to stagnate as a share of revenue during the period and account for 2.7% of industry revenue in 2021.THE

47、 IMPORTANCE OF TRADETrade is expected to account for 16.6% of industry revenue in 2021 andthe value of trade has grown over the past five years.Global Coal MiningAugust 202112IBISWSince coal is widely distributed across the globe, most countries that have reserves of coal supply their owndomestic ma

48、rkets. Coal is mined in more than 50 countries, but the high cost of transportation ensures that trade isconcentrated in regional markets. As a result, the total value of trade is forecast to grow an annualized 6.3% to$130.9 billion over the five years to 2021. In 2020, the COVID-19 (coronavirus) pa

49、ndemic is expected to disruptglobal supply chains and lower downstream demand for coal, fueling a 27.0% decline in the value of trade that year.Volatility in trade as a share of industry revenue is a function of demand for coking coal worldwide relative to thermalcoal alongside the percentage of glo

50、bal production dedicated to those two products, as both prices are linked.INDUSTRY STRUCTURECompanies must either acquire other operators or explore reserves toexpand.As large companies acquire assets of other companies, this naturally brings down the number of enterprisesoperating globally. Accordi