Report: Global coal production projected to grow at a CAGR of 2.4%
Global coal production is expected to increase from 7.6 billion tonnes (Bt) in 2016 to 8.5Bt by 2021, according to a report by GlobalData.
Titled ‘Global Coal Mining to 2021’, the report forecasts the global coal production to record a compound annual growth rate (CAGR) of 2.4%.
The five biggest coal producers in the world are China, India, the US, Australia and Indonesia, which collectively account for 76% of global coal production.
These five countries are expected to maintain their dominant position in coal production through 2021. India is expected to witness a CAGR of 12.3% in coal production, while the US and South Africa are expected to witness a CAGR of 2.9% each.
Accounting for 44% of the production, China is the biggest coal producer among the five countries. Chinese coal production is, however, expected to remain at 2016 levels due to lower domestic coal capacities and focus on reducing carbon emissions.
India follows China as the second biggest producer with a share of 10% in 2016, which is expected to increase to 16% in 2021. The third biggest coal producer is the US, accounting for 8.9% of the global production in 2016 and expected to increase its share further to 9.1% in 2021.