The global coal market size reached around 8811.34 MMT in 2025. The market is projected to grow at a CAGR of 1.60% between 2026 and 2035 to reach nearly 10327.12 MMT by 2035.
Base Year
Historical Period
Forecast Period
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.
Compound Annual Growth Rate
1.6%
Value in MMT
2026-2035
*this image is indicative*
| Global Coal Market Report Summary | Description | Value |
| Base Year | MMT | 2025 |
| Historical Period | MMT | 2019-2025 |
| Forecast Period | MMT | 2026-2035 |
| Market Size 2025 | MMT | 8811.34 |
| Market Size 2035 | MMT | 10327.12 |
| CAGR 2019-2025 | Percentage | XX% |
| CAGR 2026-2035 | Percentage | 1.60% |
| CAGR 2026-2035 - Market by Region | Asia Pacific | 1.8% |
| CAGR 2026-2035 - Market by Country | India | 2.1% |
| CAGR 2026-2035 - Market by Country | China | 1.7% |
| CAGR 2026-2035 - Market by Type | Hard Coking Coals (HCC) | 1.9% |
| CAGR 2026-2035 - Market by End-Use Industry | Construction | 2.0% |
| Market Share by Country 2025 | 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.
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 2026-2035” offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by Application
Market Breakup by End Use Industry
Market Breakup by Region
| CAGR 2026-2035 - 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 largest coal producer, with 7 wholly owned subsidiaries across 8 provincial states of India. It commands 74% coal market share in India.
CHINA SHENHUA was incorporated in November 2004 and is headquartered in Beijing. It is a leading mining and metal manufacturing company which was awarded the fifth position in the China Brand Value Evaluation list of 2024 for the energy and chemical industry.
BHP Group Limited was incorporated in 1885 and is headquartered in Victoria, Australia. It is engaged in exploring, mining, processing, and transporting essential earth minerals, including coal.
*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.
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*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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In 2025, the market reached an approximate volume of 8811.34 MMT.
The market is projected to grow at a CAGR of 1.60% between 2026 and 2035.
The market is estimated to witness healthy growth in the forecast period of 2026-2035 to reach around 10327.12 MMT by 2035.
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 applications of coal in the market are Steel Making and Non-Steel making.
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 | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| 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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