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Global Energy Review 2026 Coal
…above 2024 levels, rising by only 0.4%, an increase of around 30 million tonnes (or 0.7 EJ). This growth, which was in line with IEA estimates, was significantly below the 1.4% increase seen in 2024 and marked the end of the post-Covid rebound, with global coal demand growth slowing each year since 2021.Coal use in power generation diverged from recent trends in several regions around the world. In the United States, strong coal use in the power sector supported a 10% rise in demand, reversing the trend of declines in recent years. Meanwhile, in China…
- Key findings
- Global trends
- Oil
- Natural gas
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+ 9 pages
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Global Critical Minerals Outlook 2025 Regional snapshots
…America is leveraging financial incentives to stimulate private-sector investment. Latin America, rich in critical minerals, is projected to reach USD 154 billion in mining and refining value amid regulatory reforms to attract foreign capital. China, already dominant, is expected to grow from 45% to 50% of global refining market share. The rest of Asia is also emerging as a key player. Southeast Asia’s mining sector is set for rapid growth with a focus on nickel, cobalt and rare earths. Japan and Korea are investing in overseas assets and promoting recycling. India is moving to unlock untapped reserves. Australia…
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Coal 2025 Prices and costs
Prices Coal prices averaging lower in 2025 than in previous years After unprecedented prices in 2021 and 2022 amid the energy crisis, coal prices continued to be higher than the pre-Covid levels throughout 2023 and 2024. Prices for different coal qualities generally move in tandem, as partial substitution is possible. Thermal coal is mainly consumed in power generation and in this section is classified into low-CV (CV below 4 200 kcal/kg), mid-CV (CV between 4 200 kcal/kg and 5 700 kcal/kg) and high-CV (CV above 5 700 kcal/kg) categories. In some cases, direct substitution between grades is feasible, and blending…
- Executive summary
- Demand
- Supply
- Trade
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+ 2 pages
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Global Hydrogen Review 2025 Southeast Asia
Highlights Hydrogen demand in Southeast Asia reached 4 Mt in 2024, almost 4% of the global total. Hydrogen production accounted for about 8% of the regional gas supply and 1% of regional CO2 emissions. Indonesia represents over a third of regional demand, followed by Malaysia (22%), Viet Nam (15%) and Singapore (12%). Nearly half of all demand is for ammonia, of which two-thirds comes from Indonesia alone. Refining accounts for a third of demand, with 40% located in Singapore; methanol represents the remaining 20%, with 69% in Malaysia. The region currently exports ammonia (15% of production) and imports methanol.Indonesia, Lao…
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Coal 2025 Executive summary
…with 2025, taking it below its 2023 level. Global power generation from coal is forecast to sink below its 2021 level by the end of this decade.Strong growth in global electricity demand could support coal consumption in the years ahead. But competition with other power sources is also set to intensify, with renewable capacity surging, nuclear expanding steadily, and a wave of liquefied natural gas (LNG) arriving on the market.Since coal substitution in industry is slow, coal use by the sector is forecast to decline by less than 1% per year through the end of the decade. However…
- Executive summary
- Demand
- Supply
- Trade
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+ 2 pages
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World Energy Outlook 2022 Outlook for solid fuels
…Key findings Global coal demand rebounded strongly in 2021 to 5 640 million tonnes of coal equivalent (Mtce) as economies recovered from the pandemic and coal-fired power generation reached a historic high in 2021. Both China and India have boosted investment in domestic coal production, but global production struggled to keep pace with demand increases, causing coal prices to surge. Russia – the world’s third-largest coal exporter – and its invasion of Ukraine complicated coal market dynamics and brought additional pressure on prices.The outlook for coal is heavily dependent on the strength of the world’s resolve to address…
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Global Hydrogen Review 2026 Executive summary
…and price volatility.Global fertiliser markets have been particularly affected, with potential implications for the food supply chain. The closure of the Strait of Hormuz has constrained trade flows for ammonia, urea and sulphur, all of which are essential for fertiliser production. In addition, production outages due to shortages in gas supply and high gas prices in several countries (including Bangladesh, India and Slovakia) have further tightened supply. As a result, fertiliser production costs have increased worldwide, as urea prices doubled between January and May 2026. These pressures have been compounded by rising natural gas prices and export restrictions imposed…
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World Energy Outlook 2025 Stated Policies Scenario
…energy, climate and related industrial policies that have been adopted or put forward, even if not yet codified in law. It reflects the state of technology and market conditions but does not include aspirational goals. Total final consumption grows 1% annually to 2035 in the STEPS, with India and other emerging market and developing economies leading demand growth. It increases more slowly than in the past decade as efficiency gains accelerate to 2.2% per year, driven by the increasing electrification of end-uses. Oil demand peaks at 102 million barrels per day (mb/d) around 2030 before gradually declining…
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Global EV Outlook 2025 Trends in electric car markets
…one-quarter that of the previous year. Significantly, outside of these three major markets, there was a record increase in sales of nearly 40% to reach 1.3 million, closing in on the United States’ sales of 1.6 million electric cars. The rapid growth in electric car sales over the past 5 years has had a significant impact on the global car fleet: At the end of 2024, the electric car fleet had reached almost 58 million, about 4% of the total passenger car fleet and more than triple the total electric car fleet in 2021. Notably, the global stock of electric cars…
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Global Hydrogen Review 2025 Production highlights
…hydrogen production is expected to increase significantly by 2030. Based only on projects that are operational, have already reached FID or are under construction, low-emissions hydrogen production can reach more than 4 Mtpa by 2030.For the first time, this report systematically assesses the likelihood of announced projects going ahead by 2030. This analysis suggests that 10 Mt of low-emissions hydrogen production is almost certain or has strong potential to be operational by 2030, if the right policy efforts to stimulate demand in traditional applications and emerging sectors are implemented. However, another 19 Mt is from projects that have low potential…