Over Next 5 Years, Global Coal Demand To Be Steady

Over Next 5 Years, Global Coal Demand To Be Steady

Coal is used widely as a source of energy but at the same time, the pollution it causes cannot be neglected. However, the scenario is changing. According to the International Energy Agency (IEA), the coal urge is expected to slow down in the coming 5 years owing to its less consumption in the United States and China and also the renewable energy sources are emerging as a potential source of energy.

Over Next 5 Years, Global Coal Demand To Be Steady

Last year, IEA told that China, the top coal utilizer of the world, may face peak coal need for the first time as it is trying to limit coal usage in order to manage air pollution and restrain surplus supply. Even though the utilization of coal has been peaked in China, it would still be the colossal user for the coming 5 years. The coal usage of China is assumed to descend moderately to 2.816 Billion metric tons in 2021 from 2.896 Billion metric tons in 2014.

The IEA has anticipated the coal requirement by 2021 to sum up to 5.636 Billion metric tons in comparison to 5.400 Billion metric tons in 2015, when coal requirement decreased for the first time in the century.

The energy and security directorate of IEA, Keisuke Sadamori, said, “As the rising economies with increasing population will look for secure and cheap sources of energy, coal usage is expected to shift to Asia.”

India is anticipated to observe the highest growth in coal usage with an annual average rate of 5% by 2021.

What do you think about the decline in coal usage? Will it really decrease as per the estimations? Feel free to share your thoughts.