Thermal coal consumption and exports are expected to hit record highs in 2024, driven by surging demand in emerging economies, particularly China and India.
The world’s consumption and exports of thermal coal are expected to rise this year from 2023 to hit fresh record-highs, according to export and power generation data cited by Reuters columnist Gavin Maguire. Coal-fired electricity generation has increased so far this year by 2% compared to 2023, to hit new highs as power demand in emerging markets grows. Coal power emissions are also set to rise to a record high in 2024, according to data from energy think tank Ember quoted by Maguire.
Indonesia, the largest coal exporter in the world, is set to ship more than 500 million tons of coal this year, for the first time ever, according to Kpler’s estimates cited by Reuters’s Maguire. Last year, coal demand grew by 2.6% to hit an all-time high, the International Energy Agency IEA said in a July overview of the coal markets. Back then, the agency expected coal demand for 2024 to remain broadly flat compared to 2023. However, demand in China and India has continued to grow.
Coal-Fired Power Generation Coal Exports Record Highs Emerging Markets China India Indonesia IEA Power Demand
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