Coal 2024

Coal is often considered a fuel of the past, but global consumption of it has doubled in the past three decades. At the height of lockdowns related to the Covid-19 pandemic in 2020, demand declined significantly. Yet the rebound from those lows, underpinned by high gas prices in the aftermath of Russia’s full-scale invasion of Ukraine, has resulted in record global coal production, consumption, trade and coal-fired power generation in recent years.

Now, questions about the forecast loom. That period also saw a formidable expansion of renewable power capacity, which is now threatening coal’s century-long supremacy in electricity generation. At the same time, accelerating demand for electricity around the world could give coal another boost.

Many competing factors are at play. How quickly will coal use decline in developed economies as they become more electrified? When will coal use peak in China, the world’s largest producer and consumer? How will India fuel its economic growth? When will coal be replaced in the industrial sector? And what might different regional trajectories mean on a global level?

Using the latest data, Coal 2024 presents recent trends and a three-year forecast for coal demand, supply and trade by grade and by region. It is essential reading for anyone interested in understanding global energy.