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Coal production worldwide is projected to reach 8.92 billion tonnes in 2023, up 1.9% from a year ago, with China and India mainly contributing to the growth, showed data released by GlobalData.
The data analytics and consulting company said the top five coal-producing countries are China, India, Indonesia, the US, and Australia, accounting for over 80% of global coal output.
China holds the position of the largest coal-producing country, taking up around 50% of the world's total coal production in 2022. However, the growth rate is expected to decrease to 2.2% in 2023 from 11.4% in 2022 due to stricter safety checks that have curbed production.
India, the second-largest producer, is anticipated to witness a production increase of 6.2%, driven by the government's plan to boost domestic coal output to reduce import dependency.
The top ten coal-producing companies globally include Coal India Ltd., China Shenhua Energy Co., Ltd., China National Coal Group Corp., Peabody Energy Corp., Glencore plc, Yanzhou Coal Mining Co., Ltd., Arch Resources Inc., PT Bumi Resources Tbk, Singareni Collieries Co., Ltd., and PT Adaro Energy Tbk. These companies combined accounted for 18.9% or 1,655.9 million tonnes of global coal production in 2022.
Global coal production is predicted to exhibit slight increase, with a compound annual growth rate (CAGR) of 0.7% until 2030 to 9.38 billion tonnes, which is limited by the global trends towards green and low-carbon development and competition from renewable energy sources. Furthermore, mine closures in Indonesia and the US will further restrain production during the forecast period.
In contrast, India is expected to see a CAGR of 4.9% in its coal output to surpass 1.3 billion tonnes by 2030, backed by the government's efforts to decrease reliance on imports.
(Writing by Riley Liang Editing by Harry Huo)
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