Global Coal Outlook 2024 | Is Coal Demand Going to Decline?
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- Опубликовано: 4 сен 2024
- What's the global coal outlook for 2024? Is coal demand going to decline globally? In 2022, global coal demand surged to a record high of 8.42 billion tonnes, a 4% annual increase amid the global energy crisis, driven by Asia.
China, India, and Indonesia saw substantial growth, while the United States experienced an 8% drop. Looking to 2023, advanced economies are expected to witness declines, but global demand is projected to increase by 1.4%.
In 2024, China's coal consumption is forecasted to fall and plateau through 2026, contingent on economic growth and clean energy adoption. China's dominance in global coal markets remains, with India and ASEAN gaining influence.
Energy security has risen on the political agenda. Coal trade volumes are set to reach record levels in 2023, led by China's imports. Despite price fluctuations, coal producers face cost inflation.
Mining companies have thrived, diversifying profits amid the energy transition.
Regulatory challenges prompt coal players to acquire existing mines. Global dialogue and policy interventions are crucial for a rapid decline in coal use and climate goal achievement.
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