Global Coal Demand Set to Reach Record High as Asia’s Appetite Soars
Global coal consumption is poised to hit an all-time high in 2024, driven largely by soaring demand in Asia, particularly China, the world’s largest consumer of coal. The International Energy Agency (IEA) forecasts global coal demand will surge to 8.77 billion tonnes, with China alone accounting for nearly a third of this figure. Despite a global shift towards renewable energy, the ongoing reliance on coal in rapidly growing economies like China, India, and Indonesia is set to keep demand at historic levels until at least 2027.
This spike in coal use comes as coal’s share in the global power mix falls to its lowest ever—35%—due to rapid growth in clean energy sources. However, energy demand is expected to keep climbing, driven by the electrification of transport, rising cooling needs, and the explosion of energy-hungry sectors such as data centers.
While advanced economies like the US and EU continue to reduce coal consumption, this decline is being offset by growth in emerging markets. Despite efforts at global climate summits, including COP29, the world remains on course to burn more coal, highlighting the complex challenges in the global push for cleaner energy. The IEA warns that without drastic changes, the world’s reliance on the dirtiest fossil fuel could intensify, exacerbating climate change concerns.
NEWS DESK
PRESS UPDATE