Coal demand to hit 877 crore tonnes in 2024, rising 1%: IEA report
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Global coal demand may rise 1% to a record 877 crore tonnes in 2024, driven by energy needs in China and India, says IEA. Latest.

cross-posted from: https://beehaw.org/post/17832333

Cross posted from: https://beehaw.org/post/17832023

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The International Energy Agency (IEA) reported that global coal demand is expected to reach unprecedented levels in 2024. In its latest report, “Coal 2024: Analysis and Forecast for 2024,” the agency predicts coal consumption will climb to 877 crore tonnes, marking a new record.

The report notes that while global coal demand increased by 1% in 2023, the growth rate has slowed compared to previous years. In 2021, coal demand surged by 7.7% following the COVID-19 recovery, while growth rates moderated to 4.7% in 2022 and 2.4% in 2023.

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China, the world’s largest coal consumer, will significantly drive global demand. The IEA estimates China’s coal consumption will grow by 1% in 2024, reaching 490 crore tonnes. India, the second-largest consumer, is expected to see a 5% increase, bringing its consumption to 130 crore metric tonnes—a level previously achieved only by China.

Conversely, coal demand in developed regions like the European Union and the United States continues to decline. The European Union’s demand is projected to drop by 12% in 2024, while the US is expected to see a 5% decline. However, these decreases are less steep compared to the significant drops in 2023.

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