Economic growth in India and China leading to an increase in global coal demand in 2018 | GBRI

Climate change

Every year, the IEA publishes a series of six-year forecasts for key energy markets. The agency’s report for 2018 reveals that after a slump in global coal demand in 2015 and 2016, and a 1% increase in 2017, it is likely that the demand will grow further in 2018, thanks to economic growth in countries like India and China.

However, the report pointed out that the increase in demand is still below “peak” levels seen in 2014. In fact, demand is likely to “remain stable” until 2023, the report authors say. This is because falling demand in western Europe and North America is likely to be offset by increased demand in a host of Asian countries, including India, Indonesia and Vietnam.

Keisuke Sadamori, director of energy markets and security at the IEA says, “The global coal demand declined in 2015 and 2016. In 2017, it rebounded, and our estimates suggest it will grow in 2018 too. However, this is very different to the growth we saw earlier in the decade.”

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