Industry Analysis & Industry Trends
In both European and global terms the United Kingdom is a minor producer of coal. Production has fallen sharply since the early 1970s, plunging as mines were closed in the mid-1980s. This trend has continued in the past decade, although it reversed slightly between 2009 and 2011. Industry revenue is expected to decrease at a compound annual rate of 20.7% over the five years through 2016-17, reaching £322.2 million. During the current year, revenue is anticipated to drop by 18.6%. The fall over the past five years largely reflects the effects of plummeting global coal prices since 2011, which heavily affected industry operators. A number of firms have been unable to weather the storm and have been forced to exit the industry, while others have struggled to continue operating... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The UK Hard Coal Mining industry has been in decline for decades and the volume of production has been falling sharply. Although demand for coal has grown over recent years, imports have largely filled the void, 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 numbers have fallen consistently over the past decade.
Coal production is expected to decline more modestly over the next five years, ensuring the industry will account for an ever-diminishing share of GDP. Over the decade through 2021-22, the value that the industry adds to the overall economy is expected to decline at a compound annual rate of 11.7%, .. purchase to read more