Dublin, Sept. 08, 2023 (GLOBE NEWSWIRE) -- The "Lignite Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global lignite market will grow from $103.72 billion in 2022 to $107.13 billion in 2023 at a compound annual growth rate (CAGR) of 3.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term.
The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The lignite market is expected to grow to $101.69 billion in 2027 at a CAGR of -1.3%.
The lignite market research report is one of a series of new reports that provides lignite market statistics, including lignite industry global market size, regional shares, competitors with a lignite market share, detailed lignite market segments, market trends and opportunities, and any further data you may need to thrive in the lignite industry. This lignite market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Mining companies are using 3D mine visualizers to obtain a real-time digital model of a mine. A 3D mine visualizer generates a three-dimensional model of the mine layout and transfers it directly to the operator. With a web-based interface, information about the model is available with any connected device.
It offers a full record and playback capabilities in 3D thus allowing operators to review and analyze historical data to improve productivity and identify best practices. 3D mine visualizers significantly enhance the productivity of large mining environments. It is a valuable tool in operations planning, analyzing problematic areas, and tracking mine development over time. Companies such as Sandvik and Komatsu are offering 3D visualizer systems.
Asia-Pacific was the largest region in the lignite mining market in 2021. The regions covered in lignite mining market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The countries covered in the lignite mining market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
The rise in demand for electricity or power generation is expected to propel the growth of the lignite mining market going forward. Lignite mining is used to in the steam-electric power generation.
For instance, according to the IEA (International energy agency) report in 2021, there is an expected rise of 5% in electricity demand. In another instance, according to Canada's Upstream Oil & Natural Gas Industry, with the global population expected to increase by about two billion over the next two decades, and it is estimated that by 2040 electricity generation is expected to increase by 49%. Therefore, the rise in demand for electricity or power generation is driving the growth of the lignite mining market.
The lignite mining market includes revenues earned by entities by providing mining services such as underground mining, strip mining, and culm bank mining. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Major players in the lignite mining market include Coal India Limited, Shenhua Group, China Coal Energy Co Ltd., Anglo-American plc, and BHP Billiton Ltd.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
- Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
A selection of companies mentioned in this report includes
- Coal India Limited
- ShenHua Group
- China Coal Energy Co Ltd.
- Anglo American plc
- BHP Billiton Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/9l55rf
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