Industry Analysis & Industry Trends
The United Kingdom is a minor coal producer, in both a European and a global context. Production has fallen sharply since the early 1970s, plunging as mines were closed in the mid-1980s. The Hard Coal Mining industry is expected to generate revenue of £1.0 billion in 2011-12, compared with £812.9 million in 2006-07. This represents growth of 4.3% per year and reflects increases in coal prices that have been considerably larger than the overall inflation rate. Revenue is forecast to increase by 3.9% in 2011-12 due to higher production and higher prices. The industry's profit is expected to be about £12.6 million and it generates about 0.02% of the United Kingdom's gross domestic product... purchase to read moree
Industry Report - Industry SWOT Analysis Chapter
Hard coal mining in the United Kingdom has been in decline for decades, with the volume of production falling sharply. However, demand for coal is growing, resulting in an increasing proportion of domestic demand being met by imports. The number of firms engaged in coal mining has plunged as a result of industry rationalisation and employment has nearly halved in the past ten years.
Although coal production is expected to decline only modestly over the next five years, the industry will account for an ever-diminishing share of GDP. Because the industry's contribution to the economy is decreasing, IBISWorld considers the industry to be in the decline stage of its life cycle... purchase to read more