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New York, Sept. 23, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report 'Lignite Global Market Report 2022' -
9 billion in 2021 to $110.94 billion in 2022 at a compound annual growth rate (CAGR) of 7.8%. The lignite mining market is expected to grow to $133.83 billion in 2026 at a compound annual growth rate (CAGR) of 4.8%.
The lignite mining market consists of sales of lignite by entities (organizations, sole traders, and partnerships) that are used to mine bituminous coal, anthracite, and lignite coal through underground mining, strip mining, culm bank mining, and other surface mining techniques.The lignite mining industry also develops lignite mine sites and improves lignite, including cleaning, washing, screening, and sizing of lignite.
Lignite is typically used in pulverized coal or cyclone-fired electric production power plants.
The main types of lignite mining are electricity generation, fertilizer-based production, and synthetic natural gas generation.Electricity refers to the electricity generated from fossil fuels, nuclear power plants, hydropower plants (excluding pumped storage), geothermal systems, solar panels, biofuels, wind, etc.
It includes electricity produced in electricity-only plants and combined heat and power plants.The sources are non-renewable and renewable.
The various applications involved are commercial, industrial, and residential.
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 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.
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.
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.
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