NAICS 213113 - Support Activities for Coal Mining
This U.S. industry comprises establishments primarily engaged in providing support activities for coal mining (except site preparation and related construction activities) on a contract or fee basis. Exploration for coal is included in this industry. Exploration includes traditional prospecting methods, such as taking core samples and making geological observations at prospective sites.
Industry trends:
The Support Activities for Coal Mining industry, categorized under NAICS 213113, has been experiencing several qualitative trends fueled by evolving market, regulatory, and technological landscapes. One significant trend is the increasing emphasis on environmental sustainability. There is growing pressure from regulations and public opinion to reduce the ecological impact of coal mining operations. Companies are adopting advanced technologies to minimize emissions, manage waste, and restore mining sites post-extraction.
Another trend is the rising use of automation and digital technologies. Innovations such as autonomous haul trucks, remote-operated drilling rigs, and advanced data analytics for predictive maintenance are becoming more prevalent. These technologies not only enhance operational efficiency but also improve safety by reducing human exposure to hazardous conditions.
Workforce transformation is also notable, with an increased focus on upskilling and reskilling employees to handle modern equipment and digital tools. There's a shift towards hiring a more technically adept workforce to meet the new operational demands. Additionally, the industry is beginning to explore avenues for diversifying energy portfolios, including investments in renewable energy sectors, as a strategic approach to mitigate the risks associated with the decline in coal demand.
Looking ahead, forecasts suggest a cautious yet steady approach towards digital integration and sustainability practices. The adoption of clean coal technologies and potential shifts towards metallurgical coal for steel production are expected to play roles in the industry's future. However, the overall outlook may remain challenged by global energy transitions favoring greener alternatives.
This industry is comprised of:
This report includes the ability to segment your Industry by:
- Region
- Employees
- Net Sales
- Company Age
- Total Assets
- Ownership Type
With iCFO You Get
What Is iCFO?
A review and comparison of financial performance of privately-help companies in specified SIC/NAICS industry segment, using industry standard benchmarks.
Sound Business Analysis
Answers come easily with iCFO. Review ROI, sales per employee, profit margins of the top 10%, top 25% and more, to identify areas of concern and opportunity. Examine what if scenarios and P&L impact of reducing costs or adding revenue.
Your Business’ Health In Minutes
It takes only five minutes to enter your data and produce a concise profile of your company’s fiscal state, including critical business ratios focusing on liquidity, profitability, asset efficiency, and growth.