Demand for Coal: How did the Global Energy Balance Change in 2024
Coal Demand Continues to Decline in the EU and the USA
By the end of 2024, it will have decreased by 12% and 5%, respectively. Overall, coal demand continues to shrink in developed countries, while the share of renewables is growing. For example, in Italy, hydropower production increased significantly (+30%) along with solar energy production (+19%), which reached a historic high of over 36 TWh in 2024. Meanwhile, electricity generation from coal fell by a staggering 71% in 2024.
Opposite trends can be observed in many emerging and developing economies. For instance, in India, coal consumption rose by more than 5%, reaching 1.3 billion tons—levels previously achieved only by China. A similar situation is seen in Indonesia and Vietnam.
China's consistently high coal consumption increased by 1% in 2024, reaching 4.9 billion tons. However, the country remains focused on diversifying its energy sources, continuing to build nuclear power plants and accelerating the expansion of solar and wind capacities.
