With the rising usage of coal during the generation of electricity, the global coal mining industry has become a key contributor to the economic growth of countries across the globe. The emergence of coal as one of the leading energy sources is compelling companies to look for prominent ways to reduce energy poverty and achieve substantial economic growth. Moreover, the frequent changes in the climate and market dynamics are forcing companies to move towards clean technologies to further tackle greenhouse emissions and promote energy efficiency. The prominence of coal in a wide range of applications such as the production of steel, iron, power, and several others in the transportation industry will drive the growth of the coal mining industry.
Here are some of the factors that may influence the growth of the industry over the years.
- Technological capabilities: As technologies continue to grow, it becomes essential for companies to stay abreast of new developments to enhance production efficiency. In the coal mining space, unavailability of the latest equipment can affect the extraction of coal from below the earth’s surface.
- Illegal mining activities: In recent years, instances of illegal mining and coal exports have increased exponentially. With rising instances of malpractice, leading companies in the coal mining industry have started facing challenges when it comes to bridging the demand-supply concerns from the target audiences. Even after serious litigation, the act of illegal mining is still continuing.
To counter such challenges and analyze the competitors, leading organizations are leveraging competitor analysis solutions. Competitor analysis solutions focus on analyzing the strengths and weaknesses of businesses to gain a competitive advantage over the competitors.
The Business Challenge
- The client: A prominent client in the coal mining industry
A renowned client in the coal mining industry wanted to analyze the level of competition in the current landscape and devise effective marketing campaigns and strategies to maintain a foothold in the market. With the help of industry best practices, the client wanted to categorize the competitors based on their prominence and effectively tailor their resources to meet business requirements. Moreover, the client also wanted to leverage the use of latest innovations to refine their technical capabilities. The primary concern of the client was to identify the key risks and opportunities facing the organization and help increase the competitive maturity.
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To understand the level of competition in the coal mining space, the competitor analysis experts at Infiniti carried out extensive research comprising interviews and discussions with prominent stakeholders in the coal mining industry. Furthermore, to gain a business advantage over competitors, the industry experts also compiled information from reliable sources such as paid industry databases, trade shows, newsletters, and magazines.
The Solution Benefit and the Business Impact
The competitor analysis solution offered by Infiniti helped the client in the coal mining industry anticipate competitive activity and identify market disruptions and interpret events. The engagement helped the client launch new products and make better decisions about their product positioning strategy. The client in the coal mining industry was also able to accurate develop a SWOT analysis and understand the competitors’ selling points to market ideas. The competitor analysis engagement also offered insights on the strategies to enhance their sales performance.
The coal mining industry will witness exponential growth, especially in terms of innovations such as the development of automated vehicles powered by GPS technology. This technology will be able to complete the task of navigating and winding tunnels successfully. Moreover, the advent of additional technologies such as camera-based positioning systems and multi-sensor systems can further drive the growth of the industry over the years.
A must-read case study for strategy specialists and decision makers looking to develop an understanding of the coal mining industry.