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 |
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.
Canada Coal Industry Segmentation
The Canada coal market report includes:
| Application | |
| Metallurgy | |
| Power Generation | |
| Others |
Canada Coal Market Size Summary
The coal market in Canada is experiencing a decline, driven by environmental policies and a shift towards renewable energy sources. Despite this downturn, the metallurgical and cement industries continue to support demand for coal, particularly metallurgical coal, which is essential for steel production. Although coal's role in electricity generation is diminishing, existing thermal plants still consume significant amounts of coal. Canada's coal exports primarily target countries like South Korea, Japan, India, and China, where coal remains a crucial energy source. However, rising environmental concerns over greenhouse gas emissions and global warming are expected to further restrain the market's growth.
The Canadian coal market is moderately consolidated, with major players including Peabody Energy Corp, Arch Coal Inc, and Teck Resources Limited. While coal consumption for power generation is decreasing, the demand for metallurgical coal is anticipated to remain stable due to its importance in steel production. The Canadian government has committed to phasing out coal for electricity generation by 2030, which will significantly impact the domestic coal market. Despite these challenges, the market may find opportunities in the metallurgical sector, as steel production is expected to drive coal demand, particularly in the post-COVID-19 recovery phase.
Canada Coal Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD billion, till 2025
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 PESTLE Analysus
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2. MARKET SEGMENTATION
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2.1 Application
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2.1.1 Metallurgy
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2.1.2 Power Generation
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2.1.3 Others
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Canada Coal Market Size FAQs
What is the current Canada Coal Market size?
The Canada Coal Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)
Who are the key players in Canada Coal Market?
Peabody Energy Corp , Teck Resources Limited , Conuma Coal Resources Limited , Westmoreland Mining LLC and Dodd's Coal Mining Company Ltd. are the major companies operating in the Canada Coal Market.
