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Report Overview

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.

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

  • As per industry reports, in 2026, global coal production is expected to reach 8394 Mt.
  • In 2022, India accounted for 14% of the global coal market value.
  • In 2022, coal production in China rose to 4520 Mt.
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%

Global Coal Market Growth

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.

Compound Annual Growth Rate

Value in MMT

1.6%

2024-2032


Coal Market Outlook

*this image is indicative*

Key Trends and Developments

Global Coal Market Trends

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.

Global Coal Industry Segmentation

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

  • Hard Coking Coals (HCC)
  • Medium Coking Coals (MCC)
  • Semi-Soft Coking Coals (SCC)

Breakup by Application

  • Steel Making
  • Non-Steel making

Breakup by End Use Industry

  • Construction
  • Transportation
  • Health Care
  • Agriculture
  • Others

Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
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%

Global Coal Market Share

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.

Leading Companies in the Global Coal Market

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.

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.

Coal India Ltd. was founded in 1975 and is headquartered in West Bengal, India. It is the world’s single lar...

CHINA SHENHUA

CHINA SHENHUA was incorporated in November 2004 and is headquartered in Beijing. It is a leading mining and me...

BHP Group Limited

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.*

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Key Questions Answered in the Report

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.

Report Summary

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.

Key Highlights of the Report

Please note that the figures mentioned in the description serve as estimates and may vary from the actual figures presented in the final report.

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:

  • Type
  • Application
  • End-Use Industry
  • Region
Breakup by Type
  • Hard Coking Coals (HCC)
  • Medium Coking Coals (MCC)
  • Semi-Soft Coking Coals (SCC)
Breakup by Application
  • Steel Making
  • Non-Steel making
Breakup by End-Use Industry
  • Construction
  • Transportation
  • Health Care
  • Agriculture
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Arch Resources, Inc.
  • Peabody Energy Corp.
  • China Coal Energy Group Co.
  • Coal India Ltd.
  • Anglo American plc
  • CHINA SHENHUA
  • BHP Group Limited
  • Glencore plc
  • Whitehaven Coal Limited
  • Others

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30 North Gould Street, Sheridan, WY 82801

+1-415-325-5166

63 Fiona Drive, Tamworth, NSW

+61 448 06 17 27

C130 Sector 2 Noida, Uttar Pradesh 201301

+91-858-608-1494

40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.

+63 287899028, +63 967 048 3306

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

+84865399124