Global Coal Production Set To Grow To 2022
There are more than 300 coal projects potentially commencing operations between 2019 and 2022. Of these, 92 are currently under construction, with the remainder under various stages of development.
Although Germany, the UK, US, Canada and Ukraine are phasing out domestic coal production capacity, expansion of production capacity in countries such as India and Indonesia is predicted to generate modest annual growth of 1.3% in coal production over the next four years, with output reaching 7.6 billion tonnes in 2022, according to GlobalData, a leading data and analytics company.
Coal production in India, Indonesia and Australia is forecast to grow at respective compound annual growth rates (CAGRs) of 10.9%, 3.9%, and 2.3% between 2018 and 2022, with the high growth in India helping to reduce the country’s reliance on imports to feed its expanding coal-fired power generation.
After declining consecutively for three years, global coal production increased by 2.8% to 7,188.8 Mt in 2017 and then rose again by a marginal 0.1% to 7,194.1 Mt in 2018. Growth has been driven by India, Indonesia and Russia, where production increased by 3.1%, 1.2%, and 3.7% CAGR between 2014 and 2018, respectively.