According to a new market report published by Credence Research Global Lignite Coal Market– Growth, Future Prospects & Competitive Analysis, 2017 – 2025, the Global Lignite Coal Market is expected to reach US$ 44.1 Bn by 2025, expanding at a CAGR of 2.7% during the forecast period 2017 to 2025.
Browse the full Global Lignite Coal Market by Application and Geography – Growth, Future Prospects & Competitive Analysis, 2017 – 2025 report at https://www.credenceresearch.com/report/lignite-coal-market
Lignite coal market is expected to witness significant growth with growing energy demand along with increasing use of lignite coal as a fuel for the electricity generation. Increasing natural gas prices along with high prices of hard coal are factors anticipated to endorse the demand of lignite coal. After Fukushima nuclear disaster in Japan, the economies are moving towards safe sources of power generation. Thus, growing inclination towards alternate sources of power such as renewable energy, thermal power plants and other hydroelectric power plants. Low cost of the lignite coal is another factors driving the demand for lignite coal market. It is positioned as low production cost increment in merit-order curve competing with hard coal and gas. Lignite is also used in manufacturing of coal based fertilizers. Further, development in coal to liquid (CTL) technology widened the array of applications for lignite coal. This in turn is anticipated to drive the demand for lignite coal over the forecast period. However, growing inclination towards clean energy coupled with increasing investment in renewable energy is expected to hamper the growth of lignite coal market during the forecast period (2017-2025).
Global lignite coal market is segmented on the basis of application and geography. By application, in 2016 power generation segment was the most dominant segment accounting for largest revenue share in global lignite coal market. Growing use of lignite coal as fuel in thermal power plants is anticipated to drive the growth of the segment during the forecast period. Others application is anticipated to be the fastest growing application among all applications in global lignite coal market. Advancement in technology has facilitated the production of synthetic natural gas from lignite coal using coal to liquid technology attracting investment in across the globe. Growing investment in development of CTL technology for the conversions of lignite coal to synthetic natural gas is projected to drive the demand for lignite coal over the forecast period. On the basis of geography, Europe was estimated to be the largest market for lignite coal in 2016. Increasing lignite production especially in Germany coupled with large installed base of lignite based thermal power plants is projected to drive the demand for lignite coal in the region during the forecast period. Followed by it, Asia Pacific is anticipated to be the fastest growing region in global lignite coal market. High energy demand coupled with availability of large number of lignite coal reserves in India and Australia is projected to drive the growth of the global lignite coal market during the forecast period.
Major players in global lignite coal market are investing in expansion of production capacity along with high focus on research and development to lower the production cost. To increase the market penetration companies are focusing in merger and acquisition.
Overall, global lignite coal market is anticipated to register significant growth over the forecast period (2017-2025).
- Merger & Acquisition
- Production capacity expansion
- Joint ventures and agreements
- Investment in research and development