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The global coal market size reached around 8536.00 MMT in 2023. The market is projected to grow at a CAGR of 1.60% between 2024 and 2032 to reach nearly 9846.86 MMT by 2032.
Base Year
Historical Year
Forecast Year
Global Coal Market Report Summary | Description | Value |
Base Year | MMT | 2023 |
Historical Period | MMT | 2018-2023 |
Forecast Period | MMT | 2024-2032 |
Market Size 2023 | MMT | 8536.00 |
Market Size 2032 | MMT | 9846.86 |
CAGR 2018-2023 | Percentage | XX% |
CAGR 2024-2032 | Percentage | 1.6% |
CAGR 2024-2032 - Market by Region | Asia Pacific | 1.8% |
CAGR 2024-2032 - Market by Country | India | 2.1% |
CAGR 2024-2032 - Market by Country | China | 1.7% |
CAGR 2024-2032 - Market by Type | Hard Coking Coals (HCC) | 1.9% |
CAGR 2024-2032 - Market by End-Use Industry | Construction | 2.0% |
Market Share by Country 2023 | India | 4.2% |
The global increase in gas prices and the declining levels of power production from hydropower and nuclear energy resources led to a 4% year-on-year increase in global coal demand, which reached 8.42 billion tons in 2022. Coal-based power generation rose to 5.687 Mt, while its usage for non-power applications surged to 2728 Mt.
As per the coal market analysis, China accounts for around 50% of the world’s coal production and consumption. In 2022, rising electricity demand led to a 4.6% year-on-year increase in coal demand, which accounted for over 60% of the power production. Furthermore, India also witnessed a 9% year-on-year increase in coal demand, which reached 1.162 Mt. In 2022, Europe also witnessed a 4.3% increase in coal consumption.
In 2023, global coal production surged by around 1.8%, with rapid economic growth in India, China and other Asia Pacific countries offsetting declines registered in Western nations like the United States and European Union. Lignite and steam coal accounted for nearly 87% of coal production worldwide, while coking coal fuelled growth in Mongolia. The coal market value is contingent on China’s economic activities and hydropower production, as it is used as an alternative fuel in times of need.
Value in MMT
2024-2032
Coal Market Outlook
*this image is indicative*
Growing nickel smelting in Indonesia; rising steel demand; increasing global cement production; and surging energy security concerns are the major factors favouring the coal market growth
The increasing focus on nickel smelting and production in Indonesia led to a 32% growth in coal demand, which reached 49 Mt in 2022. This is expected to fuel the coal market expansion over the forecast period.
In 2023, global steel production reached 1.850 billion tons. The World Steel Association reported a 4.5% production in steel production in commonwealth countries and Ukraine. Coking coal is used to produce coke, the major source of carbon used in steelmaking.
Rapid infrastructure development and growth of construction activities are expected to increase the demand for cement by 77% in sub-Saharan Africa, 42% in India, and 20% in North America by 2030. This is creating a favourable coal market outlook.
Ongoing geopolitical tensions and the slow expansion of renewable energy have prompted many countries to use coal for generating electricity.
Despite the anticipated reduction in global demand, the cement industry is expected to record sustained growth in margin expansion, driven by reducing fuel prices and higher cement prices. In India, major cement manufacturers are expected to increase their capacity by 1 billion tons by 2030. This is in line with the production expansion trends witnessed in emerging markets. Over the forecast period, the coal market development is expected to be driven by the exponential surge in cement demand in emerging markets.
The EMR’s report titled “Global Coal Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Breakup by Type
Breakup by Application
Breakup by End Use Industry
Breakup by Region
CAGR 2024-2032 - Market by | Country |
India | 2.1% |
China | 1.7% |
Canada | 1.5% |
France | 1.2% |
Japan | 1.1% |
USA | XX% |
UK | 1.0% |
Germany | XX% |
Italy | XX% |
Australia | XX% |
Saudi Arabia | XX% |
Brazil | XX% |
Mexico | XX% |
Based on region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. Over the forecast period of 2024-32, the Asia Pacific is estimated to grow at a CAGR of 1.8% due to the increasing coal demand from countries such as China, India, Vietnam, Indonesia, and the Philippines. These countries are collectively responsible for 70% of the global coal demand for fuelling strong economic growth.
Major players are expected to benefit from the expansion of the global construction sector, which can fuel the coal market revenue over the forecast period.
Peabody Energy Corp. was founded in 1883 and is headquartered in Missouri, United States. It is a mining company which is engaged in the production of reliable and affordable products for steel.
Coal India Ltd. was founded in 1975 and is headquartered in West Bengal, India. It is the world’s single lar...
CHINA SHENHUA was incorporated in November 2004 and is headquartered in Beijing. It is a leading mining and me...
BHP Group Limited was incorporated in 1885 and is headquartered in Victoria, Australia. It is engaged in explo...
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other players included in the coal market report are Arch Resources, Inc., China Coal Energy Group Co., Anglo American plc, Glencore plc, and Whitehaven Coal Limited, among others.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
Get in touch with us for a customized solution tailored to your unique requirements and save upto 35%!
In 2023, the market reached an approximate volume of 8536.00 MMT.
The market is projected to grow at a CAGR of 1.60% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach around 9846.86 MMT by 2032.
The different regions considered in the market report include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The different types of coal in the market are hard coking coals, medium coking coals, and semi-soft coking coals.
The different end use industries in the market include construction, transportation, health care, and agriculture, among others.
Key players in the market are Arch Resources, Inc., Peabody Energy Corp., China Coal Energy Group Co., Coal India Ltd., Anglo American plc, CHINA SHENHUA, BHP Group Limited, Glencore plc, and Whitehaven Coal Limited, among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Application |
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Breakup by End-Use Industry |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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